Sharing with you relevant and exciting utilization of a number of innovative technologies, be it disruptive or sustaining to the existing financial services industry.
Hello and welcome to your weekly digest about financial technology. If you’re returning from last week, thanks! If you’re new, it’s very nice to have you! Share the love and tell your fellow fintech enthusiast friends to sign up here.
Emerging market challenger banks will have to look carefully at market conditions, possible target segments, sustainable revenue sources and the regulatory structure that best supports their desired business model.
Remittance companies that are building solutions based on technology are seeing a surge in business. And one of them, Remitly, which is announcing that it has raised $85 million in equity to double down on its growth.
Metro Bank has bought peer-to-peer lender RateSetter in a move that pushes challenger bank further into unsecured consumer lending. The deal, valued at £2.5m ($3.3m), was announced last week and follows a period of talks first confirmed in mid-June.
When it comes to finance, SaaS adoption is only just starting. In a recent survey, 88% of CFOs still relied on spreadsheets for budgeting and forecasting. The financial stack has largely been unchanged due to an industry skewed towards being late adopters and a lack of compelling innovation. That is — until the recent explosion of FinTech brought about a proliferation of FaaS tools (Finance As A Service).
WhatsApp plans to offer credit, insurance and pension products to lower-income individuals and those in rural areas in India and help digitize local small and medium-sized businesses as the Facebook service looks to make a digital payments push in its biggest market by users.
Alessandro Ravanetti- Freelance content writer and copywriter. Working in the fintech industry since 2011, I built and managed digital companies with distributed teams and international partners, gaining experience with both startups and large corporations. I am an independent expert with the European Commission, FundingBox and the Eureka Network, and an advisory board member of SXSW. email@example.com
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