Fiserv, a global leader in payments and financial services technology, is enhancing its embedded financial capabilities through the acquisition of the fintech company Payfare. The primary objective of this acquisition is to strengthen Fiserv’s capabilities in workforce payment solutions and embedded finance, diversify its product portfolio, and expand into the new economy market to increase its client base. Frank Bisignano,
In a significant and promising development for enterprise finance teams, Fazeshift, an AI-driven platform focused on automating accounts receivable (AR) processes, has successfully secured $4 million in seed funding. This funding round was spearheaded by Gradient, Google’s AI-focused fund, with additional contributions from prominent entities such as Y Combinator, Wayfinder, Pioneer Fund, Ritual Capital, and Phoenix Fund, along with several
In recent years, Buy Now, Pay Later (BNPL) services have seen a remarkable surge in popularity, with over 26.4 million users leveraging these platforms to divide payments for both essential and discretionary purchases. One-quarter of consumers utilized BNPL services to navigate the financial demands of the festive season, a figure that rises to over half among parents of primary school
The financial technology landscape witnessed a significant development when ClearScore Group, a leading global FinTech and financial marketplace, announced its acquisition of Aro Finance. This strategic move enables ClearScore to delve into the domain of embedded finance and secured loan broking, diversifying its offerings beyond the direct-to-consumer channels. Aro Finance, renowned for its embedded credit marketplace that delivers lending solutions
Over the past few years, ClearScore Group has established itself as a leading force in the global financial marketplace; it recently took a significant step forward by acquiring Aro Finance Ltd, marking a critical milestone in its ambitious expansion strategy into embedded finance and secured loan broking. This transformative acquisition signifies a fundamental shift from ClearScore’s traditional direct-to-consumer strategy by
The landscape of healthcare has undergone significant transformations powered by technological advancements. In recent years, there has been a concerted effort to improve the management of medical needs and the financial costs associated with healthcare. One such innovation that is gaining prominence is embedded finance, a model where financial services are seamlessly integrated into healthcare operations, bypassing the need for
The transformative impact of artificial intelligence (AI) on mortgage interest rates and the broader home financing industry cannot be overstated. Advances in AI technology are revolutionizing how lenders assess risk, predict market trends, and streamline administrative processes. This, in turn, enables more personalized and potentially lower mortgage rates for consumers. The home financing industry, traditionally bogged down by time-consuming manual
The financial landscape is undergoing a significant transformation, driven by the unique preferences and behaviors of Generation Z. One of the most notable shifts is the rising popularity of “Buy Now, Pay Later” (BNPL) services, which are fundamentally disrupting traditional credit systems. This trend highlights the dynamic nature of today’s financial ecosystem, where the demands and expectations of younger generations
In a strategic move set to enhance their embedded finance capabilities, the US-based financial services company, Fiserv, has announced its intention to acquire Payfare, a program management solutions provider focusing on gig-economy workforces. The acquisition aims to integrate Payfare’s offerings, such as card program management, a white-label consumer app, and a microservices orchestration layer, with Fiserv’s established strengths in processing,
Artificial Intelligence (AI) is transforming the banking sector, driving efficiency, improving customer experience, and reshaping traditional banking operations. The rapid adoption of AI technologies is a testament to their potential to revolutionize the industry. Many tech giants have aggressively pursued advancements in this area, making AI widely accessible across consumer devices. While banking executives eagerly anticipate integrating AI into their
The Accounts Payable (AP) Automation Market is witnessing a rapid surge, fueled by the increasing need for efficiencies and cost reductions within financial operations. AP automation entails streamlining invoice approvals, payments, and tracking within enterprises, which minimizes errors and operational costs. Companies are increasingly recognizing the benefits of automating their accounts payable processes, including improved accuracy, faster processing times, and
Expanding Embedded Finance: Boosting Growth in Nonfinancial Platforms As embedded finance continues to gain traction, it is significantly boosting growth in nonfinancial platforms, allowing them to offer a broader range of services. This integration not only enhances user experience but also opens new revenue streams for these platforms. Companies are increasingly recognizing the potential of embedded finance to drive customer
