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:

• Razorpay

Razorpay has launched its own UPI infrastructure, UPI Switch, a next-generation cloud-based innovation, in partnership with Airtel Payments Bank. The solution is designed to handle up to 10,000 transactions per second (TPS) and enables faster access to UPI innovations for businesses.

• Paymentology

Sopra Banking Software (SBS) has partnered with Paymentology. The strategic collaboration brings together the strengths of both organisations to provide high-performance card issuing and transaction processing services within SBP Digital Core, SBS’s next-generation Software-as-a-Service (SaaS) core banking platform.

• Thunes

Thunes, a global cross-border payments company, has signed a definitive agreement to acquire Tilia LLC, an all-in-one payments platform. Subject to regulatory approval, after the acquisition closes, Tilia will be rebranded as Thunes and will remain based in San Francisco.

• Temenos

National Bank of Iraq (NBI), part of the Capital Bank Group, has gone live with Temenos core banking and payments. With this implementation, NBI moved from its legacy systems onto the same core banking platform as other entities in the Capital Bank Group.

• Intellect Design Arena Limited

Intellect Global Transaction Banking (iGTB), the transaction banking specialist from Intellect Design Arena Limited, has announced that Jordan Kuwait Bank (JKB) has implemented Digital Transaction Banking (DTB) platform enabled by eMACH.ai architecture.

• GoCardless

GoCardless, the bank payment company, has expanded partnership with Intuit QuickBooks! You can now find the GoCardless app in the Intuit Marketplace in Australia and the United States.