FinTech Focus: Catch latest developments of the week

By Delisha Fernandes

FinTechs continue to play a pivotal role in transforming and reshaping the traditional contours of the financial industry. As technology becomes increasingly intertwined with financial services, FinTech innovations are not merely incremental but rather revolutionary, paving the way for enhanced efficiency, accessibility, and novel business models.

This week’s FinTech Focus brings forth a curated selection of the most significant developments that underscore the dynamic nature of this sector.

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

• Tata Consultancy Services

Tata Consultancy Services (TCS) has announced a 15-year expansion of its partnership with Aviva, to transform Aviva’s UK Life business and enhance customer experience with the TCS BaNCS^TM platform.

• National Bank of Oman

National Bank of Oman (NBO) has partnered with Paymob, a Payment Services Provider (PSP) recently licensed by the Central Bank of Oman (CBO). This collaboration aims to reshape Oman’s payment ecosystem, specifically empowering SMEs and contributing to the nation’s vision for a robust digital economy.

• Nuvei

Nuvei is now available on Microsoft Dynamics 365, combining the ERP solutions of Microsoft Dynamics with Nuvei’s seamless payment processing capabilities.

• YouLend

YouLend, the global embedded finance platform, has announced the completion of a private securitisation transaction with J.P. Morgan as a senior lender and Castlelake, L.P. providing subordinate debt.

• Temenos

We are excited to welcome BankCube to Temenos Exchange! BanKCube provides implementation accelerators for data services, data solutions, business solutions, and business platforms compatible with Temenos’s

• NPCI International Payments Limited 

NPCI International Payments Limited & Lyra partner to bring UPI acceptance to France. Indian tourists can now book tickets for their visit to the iconic Eiffel Tower hassle-free using UPI.