Despite living in an age of rapid technological advancement, the financial sector remains heavily reliant on outdated tools and methods, with an astounding 86% of finance professionals still using Microsoft Excel for tasks such as budgeting and forecasting. This reliance continues even as AI-driven and automated solutions have become prevalent across various industries. PayEm’s recent survey involving 270 finance professionals
In its quest to modernize and streamline trade finance, the Central Bank of Brazil (BCB) is pioneering a groundbreaking initiative by advancing into the second phase of piloting its Central Bank Digital Currency (CBDC), named Drex. This ambitious project is a collaboration among notable players such as Banco Inter, Microsoft Brazil, Chainlink, and 7COMm. Leveraging blockchain technology, this consortium aims
Imagine a bustling marketplace where small and medium-sized enterprises (SMEs) struggle to keep up with the increasingly digital demands of consumers. In this rapidly evolving landscape, keeping financial operations smooth and efficient can be a significant challenge. EdfaPay, a Riyadh-based FinTech platform specializing in digital payments for SMEs in the MENA region, has successfully raised $5 million in a pre-Series
The digital payment landscape in India is undergoing a significant transformation, driven by continuous innovations and a growing demand for simplicity and accessibility. PeLocal, an emerging FinTech company founded in 2021, is carving out a niche for itself by integrating its payment solutions within WhatsApp. This innovative approach aims to provide a seamless transaction experience for consumers and service providers
The recent decision by the US Consumer Financial Protection Bureau (CFPB) to regulate large tech payment apps and digital wallets such as Apple Pay, Google Wallet, Venmo, and PayPal under the same rules as big banks and credit card companies could have profound implications for both the industry and consumers. This regulatory shift aims to level the playing field, ensuring
The burgeoning market of embedded finance in Africa is poised for significant growth, with projections indicating an expansion from $10.3 billion in 2024 to $39.8 billion by 2029. This growth is driven by the increasing penetration of mobile phones and the continent’s readiness to embrace advanced financial solutions. Embedded finance integrates financial services such as payments, credit, and insurance into
The financial industry is undergoing a significant transformation, driven by the advent of artificial intelligence (AI). One company at the forefront of this revolution is Solvent.Life, which leverages AI to provide real-time market insights, thereby redefining traditional approaches to financial analysis and decision-making. This article explores how Solvent.Life is changing the landscape of trading and investments. The Traditional Challenges in
In a move potentially changing how consumers finance their technology purchases, Klarna, an AI-powered payments network, has formed a significant partnership with Lenovo, the global tech leader. Shoppers in 15 key European countries can now take advantage of Klarna’s flexible payment options, including interest-free Buy Now Pay Later (BNPL) plans, when purchasing Lenovo products online. Klarna positions itself as a
In 2024, the biggest names in technology have positioned themselves at the forefront of AI development, with a combined investment projected to surpass an astonishing $240 billion. This staggering figure highlights the importance and immediacy of AI in driving innovation and maintaining a competitive advantage in the technology sector. AI is not a distant goal; it is a current reality
In recent years, the data center market in Southeast Asia has experienced unprecedented growth, driven by increased digital transformation, widespread cloud adoption, and the region’s strategic position as a global connectivity hub. Singapore, Indonesia, and Malaysia have emerged as key markets due to their strategic importance and significant investment opportunities. These countries present lucrative prospects for data center investors, but
The rising property prices in top-tier Asian cities like Singapore and Hong Kong have made it virtually impossible for many Millennials and Gen Z individuals to achieve the same level of wealth accumulation as previous generations did through real estate investments. This financial landscape shift compels younger people to explore alternative investment opportunities to build their wealth, and Bitcoin emerges
The Reserve Bank of India (RBI) is taking significant steps to enhance its cross-border payments platform by seeking new trading partners in Asia and the Middle East, aiming for instantaneous settlements. Currently, India has agreements with Sri Lanka, Bhutan, and Nepal. The RBI plans to extend these agreements to include the United Arab Emirates (UAE). In addition, India is exploring
