The UK Government recently revealed its National Payments Vision (NPV), marking a significant step towards developing a world-class payments ecosystem. This strategic framework is designed to modernize the sector utilizing next-generation technologies to spur economic growth and fuel innovation. The initiative emerges as a response to the 2023 Future of Payments Review, which underscored an urgent need for a trustworthy,
The dynamic landscape of global finance often presents myriad challenges for businesses striving to manage their international payments efficiently. In this rapidly evolving environment, Moss, a leading B2B spend management solution provider, has taken a significant step to streamline global payments. Moss has partnered with Airwallex, a premier global payments and financial platform, to enhance operational capabilities and align with
Goldman Sachs has announced its plan to spin off GS DAP, a blockchain platform designed to serve digital capital market participants, from its Digital Assets division with the aim of transforming it into an industry-owned distributed technology solution. This strategic move aligns with the company’s vision to enhance market connectivity and infrastructure, unlocking new commercial opportunities for both buy- and
In a significant development for the blockchain industry, Paxos, a leading global blockchain infrastructure platform known for its stablecoins, announced its acquisition of Membrane Finance, a licensed e-money institution based in Finland. This move is part of Paxos’ strategy to solidify its presence in the European Union ahead of the forthcoming Markets in Crypto-Assets (MiCA) regulation, which will be enforced
QPLIX, a WealthTech firm founded in 2012 and based in Munich, Germany, has recently secured over €25 million from Partech’s Growth Fund to fuel its global expansion. This strategic infusion of capital is poised to significantly bolster QPLIX’s presence in major international markets, including France, Switzerland, the UK, the Middle East, and the APAC region. Specializing in software specifically designed
The integration of generative AI (Gen AI) into the financial services sector, especially within embedded finance, has surged forward with remarkable advancements, yet human oversight is still imperative to maintain accuracy, ethics, and customer satisfaction. While technologies like AI continue to shape the future of finance, striking a balance between automation and human intervention can determine the success and reliability
Imagine a world where financial services are seamlessly integrated into everyday platforms, offering unparalleled convenience and accessibility to consumers. This is the promise of embedded finance, a concept rapidly gaining traction and projected to exceed $228 billion globally by 2028. Africa, with its unique financial landscape characterized by underdeveloped legacy payment systems and high mobile banking usage, presents a prime
Digital payment solutions have emerged as a transformative force in advancing financial inclusion, particularly for unbanked and underserved populations. These technologies provide access to financial services that were previously out of reach, significantly impacting individuals and communities. The role of digital payment solutions in enhancing financial inclusion is a multifaceted development that spans various aspects, from accessibility through mobile phones
The future of payment strategies is experiencing a radical transformation, led by an increasing necessity for digital and data-driven approaches. During a recent interview with PYMNTS.com, Jennifer Cruz, the Senior Vice President of US Credit Issuance and U.S. & Canadian Acceptance at Discover® Global Network, highlighted the pressing need for this evolution. As economic pressures mount and consumer expectations shift,
In a strategic move set to redefine digital payments in Mexico, Mexican neobank Albo has teamed up with UK-based issuer-processor Paymentology. The partnership aims to bolster Albo’s digital payment services and strengthen its foothold in the Mexican market. Paymentology’s sophisticated cloud-based platform opens up new avenues for Albo to diversify its offerings, especially targeting small businesses by facilitating payroll and
In the dynamic world of financial services, the integration of cutting-edge technologies like Robotic Process Automation (RPA) and Artificial Intelligence (AI) is reshaping the industry, driving efficiency, cost savings, and customer satisfaction to new heights. Financial institutions are increasingly adopting these technologies to automate repetitive tasks, streamline operations, and enhance overall service delivery. Efficiency and Cost-Saving Benefits RPA is making
Artificial Intelligence (AI) is set to transform the financial services industry by 2030, according to insights shared by Ed Maslaveckas, CEO of Bud. The potential of AI in banking is immense, with early adopters like Bud already showcasing its capabilities. While AI has recently gained mainstream attention, its foundational applications have been in use for years, indicating both its potential
