– by Bobby Suman, Fintech Finance
Welcome to The Fintech Fix, where we cover the biggest stories of the financial week. Whether it’s the next ground breaking trend in cryptocurrency or Blockchain technology, a new partnership that will change the global, economic landscape or an upcoming start-up that brings huge followers, this is the place to keep up with the breaking news of the future. .
Hot topics – Being an industry leader is one thing, but maintaining that reputation for 8 consecutive years is truly unique (and no, I’m not talking Lewis Hamilton in F1!) According to today’s Nilson Report year, JP Morgan Payments, for the 8th consecutive year, earned the top spot in the U.S. among payment providers in terms of both annual transactions and dollar volume. The awards don’t stop there. JP Morgan Payments also retains its top position as the leading U.S. e-commerce acquirer Max Neukirchen, CEO of JP Morgan Merchant Services, commented that “this continued recognition in an extremely competitive landscape is a direct result of the trust provided to us our clients. ” Trust is clearly the currency of the future.
By 2022, more and more institutions will aspire to be greener in a global effort to be net-zero. The Abu Dhabi Global Market (ADGM), the International Financial Center in Abu Dhabi, is on fire in this aspect as they, with the help of the AirCarbon Exchange, will build the world’s first fully regulated carbon trading exchange and carbon clearing house. ADGM will regulate carbon credits and offsets as issuance instruments, as well as issue licenses for exchanges to operate spot and derivatives markets. His Majesty Ahmed Jasim Al Zaabi, Chairman of ADGM, shared how “as the first country in the Gulf to commit to net zero by 2050, this new trading platform is a further extension of Abu’s aspiration. Dhabi to support sustainability ambitions and emphasize ADGM’s focus on carbon neutrality as an international financial center. ”
The landscape of payments in Brazil in recent years has been truly remarkable, with the introduction of PIX, the Brazilian Central Bank’s instant payment system, which offers many opportunities to consumers, businesses and other economic agents. . Edson Santos, Founder of Colink Business Consulting, and Eduardo Goni, Country Manager Brazil for ACI Worldwide, discussed the possibilities at hand, the threats posed by PIX to maintaining current gains in Brazil as well as pointed out of PIX in other payments the world still sticks to older legacy systems. Find out more here!
Our next hot topic of the first roundup of Q2 will take us to 10x Banking, the fintech firm that disrupts the core banking sector and aims to make banking ten times better for banks, their customers and society. . 10x was recently featured on the list of ‘Most Influential Financial Technology Firms of 2022’, produced annually by Harrington Starr’s The Financial Technologist. Founder and CEO of 10x, Antony Jenkins CBE, was also awarded a place in the Top 50 Financial Technology CEOs of 2022. Commenting on both awards, Jenkins said: “Having our goal and effort recognized by the two This recognized organization is incredibly rewarding. ”
Last, but certainly not least, Incharge has created a banking services app specifically for refugees that will offer free banking services and physical or virtual debit cards to all citizens. Ukrainians fleeing the country following the Russian invasion. The app was released exactly one month after the invasion began, which has now resulted in more than 3.7 million people seeking refuge in neighboring countries, with limited assets and documentation. These refugees who need access to banking and financial services can now open an InCharge account remotely, easily and at no cost. Being native to Apple and Android, all it takes is a phone or computer with a web browser.
Big Collaborative Watch – Microsoft and Worldline, a global leader in the payments industry, are working together to address the challenges posed by online payment fraud. Worldline hopes that the use of Microsoft Dynamics 365 Fraud Protection will help with hybrid fraud screening, device fingerprinting, multi-hierarchy management and other features such as extensive data network functionality and risk appetite assessment. Penteha Pedram, Director of Fraud and Products Risk at Worldline, noted how “Microsoft is truly a solid world leader in fraud prevention and we look forward to using their expertise and market reputation to enhance our offering service to the client. “
Fast, true to its name as the fastest online checkout experience in the world, The Honest Company recently announced that they have implemented their one-click checkout on their e-commerce site. This implementation will also give customers the ability to purchase directly from online articles, display ads, emails and even via QR codes in one easy step. By 2025, the market for online baby care products is expected to reach over $ 46 billion while the market for natural beauty products is expected to reach nearly $ 50 billion. As a leader in this space, The Honest Company is well positioned with safe and effective products along with a great shopping experience for customers enhanced by Fast, according to Co Founder and CEO at Fast, Domm Holland .
The ability to expand financial inclusion is one of the most enriching things about our sector. ServiceNow, a digital workflow company, has partnered with Lloyds Banking Group as part of its NextGen Professionals Program to continue improving access to financial services for under -represented groups. The initiative creates job opportunities for the digital workforce today and tomorrow. Another partner includes the Refugee Council, an organization working with refugees and asylum seekers to provide support and advice and help refugees navigate barriers to entering the UK labor market. “At Lloyds Banking Group, we defend our employees while aiming to address the digital skills gap in the UK,” said Gareth Dickey, Senior Engineering Manager at Lloyds Banking Group. “Working with ServiceNow, we can achieve both. Improving our tech talent pool will be the reason why our industry continues to make significant changes, empowering lives beyond financial services.
Funding – Being green has definitely been the theme of this week’s aging and our last story was no different. Sweep, the tech firm and leading carbon management platform for large businesses, recently raised $ 73 million in Series B funding. It came just three months after its $ 22 million Series A round. As the number of companies grows with their climate commitments, Rachel Delacour, CEO and co-founder of Sweep explained how “this latest round will serve to gauge the capacity of our platform to help more companies develop of climate -resilient strategies that quickly meet their climate targets, and are economical. ”
