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Latest news and investments in fintech

Small Businesses in Canada Fast Track Open Banking Adoption

February 11, 2023

Canadian small business owners are adopting new open banking technology rapidly, data from Mastercard has revealed. They also want better access to innovative fintech to take control of their finances.

Digital bank Zopa raises £75 million to accelerate growth and spearhead 2023 M&A

February 2, 2023

Since launching in 2020, Zopa bank has attracted £3 billion in deposits, more than £2bn of loans on balance sheet, and issued more than 400,000 credit cards. It currently has a rating of 4.6 / 5 on Glassdoor, one of the highest employee satisfaction scores across the UK fintech industry.

Dubai Raises 96% of UAE Startup Funds Finds Dubai Chamber of Digital Economy

February 1, 2023

Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, has issued a recent report detailing plans to drive the emirate’s digital economy ambitions. This is part of its efforts to strengthen the digital economy ecosystem in Dubai and achieve the goals of the Dubai Economic Agenda (D33).

KITMEK Launches $1 Digital Only School for Children Across MENA

January 31, 2023

The KITMEK digital school is three years in the making and aims to provide a global curriculum from kindergarten to fifth grade. The school also offers extra-curricular interactive classes covering a range of topics including phonics, life skills, communication skills and financial literacy.

UK Fintech Funding Remains Resilient Against Economic Shocks Despite 13% Decline

January 30, 2023

Despite a significant drop in the total amount being secured, the UK’s fintech industry remains a top destination for start-up funding; finds a new report.

Universal Digital Payments Network Launches to Offer Interoperability to CBDCs and Stablecoins

January 26, 2023

The Universal Digital Payments Network (UDPN), a distributed ledger technology (DLT)-underpinned messaging backbone focused on providing interoperability between the growing number of stablecoins and CBDCs, was made public during World Economic Forum week.

Saudi Central Bank Progresses CBDC Plans

January 25, 2023

With countries all over the world testing central bank digital currencies (CBDCs), the Saudi Central Bank (SAMA) takes its next steps. SAMA has turned its focus on domestic wholesale CBDC use cases in collaboration with local banks and fintechs.

FIS Reveals Top Investment Priorities for Financial and Non-financial Services in 2023

January 23, 2023

New research from FIS, a global fintech, revealed global c-suite executives plan to make significant investments in 2023. Namely in web3, environmental, social, and governance (ESG) frameworks and embedded finance. This is a result of companies looking to fuel fintech innovation despite economic uncertainty.

Binance Officially Launches in Bahrain

January 20, 2023

Blockchain services provider Binance has officially launched in Bahrain. The new platform enables users to access Binance’s existing range of regulated products and services; including direct top-ups and withdrawals in local currencies.

Dubai Future District Fund Considers Impact 1 Year After Inception

January 18, 2023

The Dubai Future District Fund (DF2) oversight committee met upon completion of its first year of investment operations. The committee reviewed DF2’s first full year of operations in the meeting and emphasized the rapid progress that had been made. DF2 completed 13 fund and start-up investments from an initial funding commitment of AED1billion.

ISA Investors Fall Short to the Sky-High Value of Gold

January 16, 2023

Gold is on the verge of breaking through a record high while many of the most popular ISA funds slide in the face of economic turbulence.

Will Global Fintech Investment Stagnate in 2023?

January 13, 2023

Levels of investment and number of deals in the fintech industry fell in 2022 compared to 2021. As interest rates have steadily climbed, companies across the sector, particularly startups, have begun to struggle. The early signs in 2023 suggest that this trend is potentially continuing.

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