The financial landscape is evolving at an unprecedented pace, driven by rapid technological advancements and shifting client expectations. In response to these changes, Citi has launched a groundbreaking solution known as Citi Real-Time Funding. This initiative aims to meet the growing demand for real-time payments (RTP) and efficient liquidity management, positioning Citi at the forefront of the modern financial services
The breaking news centers around Gynger, a pioneering embedded financing platform for technology purchases, which has secured $20 million in Series A funding. Led by PayPal Ventures with notable participation from Gradient Ventures, Velvet Sea Ventures, BAG Ventures, and Deciens Capital, this funding will allow Gynger to expand its team, improve operations, and further develop its platform into a comprehensive
AssetMark Financial Holdings has announced its acquisition of $12 billion in assets from Morningstar Wealth’s Turnkey Asset Management Platform (TAMP). This significant deal, revealed on June 20, 2024, will see Morningstar Wealth integrated as a third-party strategist on the AssetMark platform, bringing with it model portfolios and separately managed accounts. This development underscores AssetMark’s ongoing commitment to expanding its platform
Embedded finance is revolutionizing the way financial services are delivered by integrating them effortlessly into digital platforms. This integration enhances user experience by making financial processes more accessible, seamless, and convenient. The trend is catching on rapidly, promising significant benefits for both consumers and financial institutions. As technology continues to evolve and consumer expectations shift, the ability to embed financial
The asset management industry is undergoing a significant transformation driven by global trends and technological advancements. A recent survey conducted by Northern Trust sheds light on current priorities and challenges faced by 300 global asset management firms. The findings highlight a shift towards product quality, accurate data management, and the adoption of advanced technologies. In an era where competition is
Rising living costs are amplifying the anxiety felt by employees regarding their financial futures, particularly when it comes to retirement. This growing concern is vividly captured in a comprehensive survey conducted by Wealth at Work, which delves into the nuanced fears and needs of workers as they chart their paths toward retirement. The survey’s findings spotlight essential themes and trends,
Corpay, a global corporate payments company listed on the NYSE under the ticker CPAY, has announced a significant strategic move that could reshape the landscape of the FinTech industry. The company has signed a definitive agreement to acquire GPS Capital Markets, LLC, a leading provider of business-to-business cross-border and treasury management solutions primarily serving upper middle-market companies in the United
In a significant shift of investor sentiment, the burgeoning field of artificial intelligence (AI) is now attracting considerable attention, moving away from the once-thriving FinTech sector. Based on observations from industry executives and key events such as Money20/20 in Amsterdam, the consensus is that the FinTech market has undergone a recalibration that places a premium on proven business models and
Mobile wallets have become increasingly popular, especially among younger generations. This trend is driven by the widespread adoption of mobile devices and the convenience of managing finances digitally. Recent research from Chargebacks911 and Pymnts Intelligence provides detailed insights into this burgeoning trend, examining the benefits, drawbacks, and future directions of mobile wallet usage. The Rise of Mobile Wallets Convenience Over
The digital fintech landscape in Southeast Asia has taken a significant leap forward with the recent integration of cross-border QR payments between Malaysia and Singapore. Citizens from both nations can now effortlessly engage in retail transactions using their respective mobile banking applications. This breakthrough not only simplifies consumer experiences but also strengthens the economic collaboration between the two countries. This
Navigating the complexities of cross-border payments has long been a daunting challenge for businesses and individuals alike. The emergence of Cashwise, a fintech company focused on simplifying these intricate processes, marks a significant leap forward in the global financial landscape. Recently, Cashwise unveiled its groundbreaking multi-currency platform at Collision 2024, promising to transform the way people manage and spend money
The landscape of banking is evolving rapidly with the advancing prowess of artificial intelligence (AI). Nearly half of Americans are now open to the idea of integrating AI into their banking activities, a significant shift that promises to redefine how financial services are delivered and experienced. This growing acceptance of AI is not just a fleeting trend but a sign
