FinTech Focus: Catch latest developments of the week

By Gloria Mathias

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 6 announcements made by the FinTech bigwigs this week:

• CUBE

CUBE has announced another step on its growth journey as it welcomes global regulatory intelligence businesses from Thomson Reuters to CUBE. This acquisition means that CUBE will take regulatory compliance and risk management to new heights. It represents another significant milestone in our journey to become the industry standard for automated regulatory intelligence and regulatory change management.

This is our second acquisition following our strategic partnership with Hg Capital in March 2024. By combining CUBE, Reg-Room LLC, and now Thomson Reuters Regulatory Intelligence and Oden, it is setting new standards in regulatory automation and content.

• Infosys

Infosys announced a multi-year strategic collaboration with First Abu Dhabi Bank (FAB) to optimize and modernize FAB’s IT infrastructure services. As part of this collaboration, Infosys will help integrate a suite of enterprise tools to drive significant improvements in FAB’s service quality, risk reduction, and business outcomes.

• Napier AI

Napier AI is proud to announce that our transaction screening solution, part of Napier AI Continuum, has gone live as the anti-money laundering platform for the recently launched Salt Bank, Romania’s first fully digital bank. Neobank, whose name is rooted in the Romanian word for leap is set to transform Romanian banking. It offers a top-notch digital experience for the new generation of customers who prefer banking on their smartphones.

• Paymentology

Paymentology is delighted to announce our partnership with audax in the Seamless Middle East and Saudi Arabia! Together, they are providing an end-to-end cards-as-a-service solution, transforming the payments landscape in Southeast Asia and the Middle East by allowing financial institutions (FIs) to launch and manage their own branded card programme seamlessly in a matter of months.

• Pine Labs 

Pine Labs is set to empower Emirates NBD with its Credit+ platform, driving cutting-edge merchant acquisition processing solutions for corporate and institutional clients in the UAE. Together, it is paving the way for seamless in-store experiences and advancing the payment landscape, starting with the UAE, to be followed by KSA and the Egypt region.

• PhonePe

PhonePe UPI is now live in Sri Lanka! PhonePe launched UPI services in collaboration with LankaPay across LankaQR merchant points at a grand event held in Colombo. Indians travelling to Sri Lanka can now enjoy seamless UPI transactions at any LankaQR-powered merchant. Several key stakeholders from Sri Lanka’s financial ecosystem attended the grand launch. Shri Santosh Jha, High Commissioner of India to Sri Lanka, emphasized the significance of this UPI launch as a stepping stone toward a broader digital partnership between our nations.

ALSO READ: IBSi FinTech Journal April 2024 Edition