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The Paypers analysed the most relevant investments that were announced during Q4 2023 and discovered a surge in funding for companies operating in Africa, the Middle East, Europe, and North America. Financing rounds indicate a preference for digital lending and banking, payment apps and commerce solutions, and Buy Now, Pay Later services.
investment, funding, expansion, payments , banking, ecommerce, The Paypers Quarterly Analysis series, financial inclusion, SMEs
Flipkart has announced the launch of a new UPI service in partnership with Axis Bank, aiming to optimise fund transfers and checkout payments for Android users.
partnership, product launch, UPI, payments , money transfer, online payments, mobile payments, digital payments, ecommerce
Open Banking-enabled payments services provider Ordo has joined the Crown Commercial Service's Open Banking Dynamic Purchasing System.
partnership, Open Banking, payments , payment methods
The Financial Conduct Authority (FCA) of the UK has initiated an investigation into Lloyds Banking Group’s Anti-Money Laundering (AML) controls.
AML, money laundering, regulation, banking, financial institutions
Nigeria-based digital bank FairMoney has entered discussions to buy Umba, another Nigeria-based digital bank Umba, in a USD 20 million all-stock deal.
acquisition, expansion, digital banking, lending, financing
Social lender Moneyline has expanded its collaboration with Ordo to include Variable Recurring Payments (VRP), aiming to advance financial inclusion for lenders and borrowers.
recurring payments, Open Banking, Variable Recurring Payments, financial inclusion, financial services
US-based multi-lender point-of-sale platform ChargeAfter has been selected by Citi Retail Services as a technology provider for its Citi Pay products.
partnership, digital payments, lending, payments , merchant
Vast Bank has decided to shut down its mobile crypto app and exit the cryptocurrency industry after receiving a consent order from the Office of the Comptroller of the Currency (OCC) in October 2023.
cryptocurrency, cryptocurrency exchange, crypto asset, banks, mobile banking
Crypto lender Celsius has announced it will distribute USD 3 billion in crypto to its creditor as the company’s bankruptcy is officially closed.
cryptocurrency, lending, mining, Bitcoin, PayPal
UK-based lender Standard Chartered Bank has expanded in the MENA region with the launch of its full-fledged banking operations in Egypt.
expansion, banking, lending, banking license
Hong Kong-based fintech FundPark has secured a USD 250 million private loan with Goldman Sachs as a senior facility provider.
funding, investment, SMEs, cross-border ecommerce
UK-based fintech company Ebury has started widening its operations in Brazil, which it reportedly sees as a potential main revenue market.
expansion, FX , payments , SMEs, acquisition, fintech, cash management
Financial services platform DMI Group has announced the acquisition of digital customer onboarding and servicing system ZestMoney.
acquisition, digital onboarding, financial services, lending
India-based fintech FinBox has enabled a faster digital onboarding experience for digital lender Capital Now in addition to supercharging bank statement analysis.
lending, risk management, data analytics, API, digital onboarding
Alkami Technology, a digital banking solutions provider, has announced that Elevations Credit Union has launched with its online business and retail banking platform.
digital banking, cloud banking, data analytics, retail, bank account
UK-based D•One has partnered with Salad Money in order to provide its Open Banking services for the optimisation of the latter’s lending decision-making.
partnership, Open Banking, Open Finance, financial services, financial institutions, mobile banking, digital banking, online banking
UK-based Metro Bank has entered negotiations to offload a GBP 3 billion mortgage portfolio to Barclays as part of a restructuring effort.
acquisition, partnership, banks, financial services
UK-based financial services marketplace group Clearscore Group has partnered with alternative lender Plend to support Open Banking-powered loans.
partnership, Open Banking, financial services, lending
Building onto our previous reporting related to the partnerships that took place in Q3 2023 within the payments and commerce space, this analysis focuses on the banking and fintech industry.
banking, fintech, fraud prevention, financial crime, Open Banking, Open Finance, crypto, web3, The Paypers Quarterly Analysis series
US-based Grasshopper Bank has partnered with Capchase to enable its SaaS clients with access to the latter’s funding options.
partnership, SaaS, financing , instalment payments, startup