FinTech Focus: Catch latest developments of the week

By Gloria Methri

Social media platforms can offer insights helping FinTech and digital payments companies analyse consumer behaviour and preferences, the most critical factors in present times, as well as trends in the industry.

With the ever-evolving digital landscape, it has become imperative for financial institutions to offer services that cater to the changing needs of consumers, and channels of interaction like social media can bridge that gap.

Similarly, numerous financial technology companies utilise social media platforms to make announcements pertaining to product offerings, mergers, partnerships, and other developments to garner wider attention and to better reach their target audience.

Let’s look at the top five announcements made by the FinTech bigwigs this week: 

• Alkami

Digital banking provider Alkami Tech partners with Plaid to provide financial institutions with direct access to Plaid via the Financial Data Exchange-aligned (FDX) API Core Exchange.

• FinastraFS

With the implementation of Finastra’s market-leading solutions, CQUR Bank will offer its corporate clients a new Online Banking portal for a seamless user experience, introduce new digital workflows, and provide host-to-host integration solutions.

• Infosys

We are pleased to announce a new Strategic Collaboration Agreement with Amazon Web Services (AWS) which will support financial organizations to accelerate their cloud adoption journeys across EMEA. The three-year collaboration will deliver cutting-edge services to transform technology and modernize applications, delivering cost optimization and operational efficiencies.

• Kotak Mahindra Bank

Kotak Mahindra Bank is pleased to announce that they have signed a definitive agreement with Zurich Insurance whereby the 150-year-old Swiss-based insurance company will acquire a majority stake in Kotak General Insurance. The alliance brings together two trusted and respected brands and marks a significant step forward in further implementing our strategy to deepen insurance penetration in India with an appropriate combination of technology, scale, and a tangible commitment to the customer.

• Nexi Group

We are glad to announce the divestment of our eID business in the Nordics to IN Groupe, the global specialist in secure digital services! This confirms the focus we have on strengthening our position as the European PayTech, ensuring that our cutting-edge solutions reach a wide array of clients around the world.

• Ripple

We’re proud to announce that our partner Onafriq will utilize Ripple Payments, our crypto-enabled payments technology, to open up three new payment corridors between Africa and the rest of the world.

ALSO READ: Global Digital Banking Vendor & Landscape Report Q1 2023