DUBAI, UAE, Jan. 10, 2025 /PRNewswire/ — Bank Alfalah, a leading commercial bank in Pakistan with a network of over 1,000 branches, has announced its acquisition of a 9.9% equity stake in Jingle Pay, one of the fastest growing fintechs in the MENAP region. The Bank’s fintech investment underscores its commitment to driving digital transformation and fostering financial inclusion across key markets.

Jingle Pay has redefined the fintech space with its proprietary AI-powered tech stack already processing over 2 million transactions and facilitating over $1 billion in international money transfers in 2024, saving customers over $6 million in fees. Jingle Pay was recently awarded the top global fintech for remittances into Pakistan.

Jingle Pay has solidified its position as a high-growth fintech leader in the MENAP region, supported by prestigious investors, including MoneyGram, G42-backed Applied AI, and prominent U.S. venture capital firms known for backing global fintech giants like N26 and PayPal, Jingle Pay continues to disrupt the industry. Bank Alfalah’s equity investment and appointment to Jingle Pay’s Board signal a robust partnership aimed at driving growth and innovation. This collaboration leverages Bank Alfalah’s extensive infrastructure to amplify Jingle Pay’s impact on cross-border payments and digital banking, advancing its ambitious vision for the MENAP region.

Jingle Pay provides innovative services, including multi-currency accounts, instant money transfers via the world’s first remittance marketplace, card payments, and last-mile payouts across 150+ corridors in 99+ currencies. Additionally, its Remittance-as-a-Service solution enables banks, FinTech’s, and non-financial institutions to facilitate seamless international money transfers.

Jingle Pay plans to launch its digital banking services in Pakistan in Q1 2025 as a branchless banking mobile app targeting to bring seamless and inclusive financial services to the country’s largely unbanked population. Jingle Pay will leverage Bank Alfalah’s infrastructure to bring seamless banking solutions to millions of customers. The partnership will create synergies in cross-border payments strengthened by shareholder MoneyGram.

As Pakistan’s 5^th largest remittance partner, Jingle Pay plays a crucial role in driving global financial flows that contribute significantly to the country’s GDP. Establishing local presence in Pakistan will strengthen its partnership and cross-border capabilities, further cementing Jingle Pay’s position as a leader in the remittance ecosystem.

Leadership Remarks

Farooq A. Khan, Group Head – Corporate, Investment Banking and International Business of Bank Alfalah, emphasized: “This acquisition is a milestone in our journey to lead the digital banking revolution. By combining Jingle Pay’s innovative platform with Bank Alfalah’s resources, we aim to redefine cross-border financial services and deliver exceptional value to millions of users.”

Amir Fardghassemi, Founder and CEO of Jingle Pay, said: “Partnering with Bank Alfalah empowers us to scale our vision of inclusive finance. Together, we aim to enrich the digital economy and create transformative cross-border financial solutions.”

The collaboration also enhances Bank Alfalah’s role in the global Payments ecosystem, strengthening its position as a leader in cross-border financial flows and delivering unparalleled value to customers in the MENAP and beyond.

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About Bank Alfalah

Bank Alfalah is a leading commercial bank in Pakistan, with over 1,000 branches across 200 cities and an international presence in the UAE, Bahrain, and Afghanistan. Its heritage and prominence extend over 25 successful years, highlighted by achievements that reflect exponential growth in the country’s financial sector.

The Bank offers various products and services to private-sector institutions and governments, including corporate and investment banking, consumer banking, securities brokerage, commercial, small and medium enterprises, agricultural, Islamic, and asset financing.

The Bank has established itself as a premier digital bank by introducing various features on its banking app, such as Alfamall, Buy Now Pay Later, and Term Deposit Receipts. It has also launched Pakistan’s first digital lifestyle branch. 

About Jingle Pay

Jingle Pay, a UAE born fintech, is the MENAP region’s leading and fastest-growing fintech, specializing in cross-border money transfers licensed by Dubai Financial Services Authority (DFSA). Jingle Pay operates in the UAE, Bahrain, and Pakistan, offering cutting-edge financial services. Backed by global financial institutions like MoneyGram, Bank Alfalah, top-tier U.S. and international venture capital firms that have backed PayPal and N26, as well as G42 backed, Applied AI.

The company provides a wide array of solutions, including Remittance-as-a-Service for financial institutions, enabling seamless global payouts across 150+ corridors and 99+ currencies. Additionally, Jingle Pay operates a B2C app for retail customers, facilitating card payments and international money transfers focused on driving financial inclusion and leveraging AI to redefine cross border payments.

CONTACT: Jingle Pay, [email protected], +971 4 547 7778

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View original content:https://www.prnewswire.co.uk/news-releases/bank-alfalah-acquires-strategic-stake-in-uae-fintech-jingle-pay-302347236.html

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HONG KONG, Jan. 10, 2025 /PRNewswire/ — Term Structure Labs team is thrilled to announce the launch of TermMax on the Arbitrum and Ethereum testnet, a DeFi protocol that simplifies leveraged yield strategies by offering fixed income debt & earn products with integrated leverage functions to enhance cost and time efficiency for all types of users. With the mainnet launch on Ethereum and Arbitrum scheduled for Q1 2025, TermMax offers a preview on Testnet showing how it will revolutionize fixed-income strategies in DeFi.

Experience the Future of DeFi Fixed-Income Strategies

TermMax redefines leveraged yield strategies with intuitive and accessible solutions designed to meet users’ needs. With one-click leverage, users can seamlessly open leveraged positions in Pendle’s PT tokens at fixed rates and fixed terms through a streamlined process that automates looping and reduces transaction costs. Moreover, TermMax enables users to collateralize their assets and acquire debts at fixed rates. These acquired funds can then be reinvested into yield opportunities across the DeFi ecosystem. By integrating debt and earn functions and using a customizable Uniswap v3 AMM model, TermMax empowers market makers to design their own AMM based range orders and users to leverage 5x or more and capitalize on interest rate differentials to capture higher returns. Whether aiming for predictable returns, leveraging yield-bearing assets, or exploring strategies like interest rate trading, TermMax makes optimizing investment returns simple and effective.

Explore the TermMax Testnet on Arbitrum and Ethereum

The TermMax testnet is now live on Arbitrum and Ethereum, giving users a risk-free opportunity to experience its innovative features. To get started, simply claim testnet tokens from our faucet and experiment with creating debt, earning fixed rates and leveraging yield-bearing tokens.

Exciting Upcoming Features on the Horizon

The current testnet release brings powerful features for users. With one-click leverage, users can create debt at fixed rates and gain exposure to target tokens. Creating debt and earn position at fixed rates are now available, along with opportunities to provide liquidity and earn yields and fees. Upcoming enhancements include customizable AMM for any market maker to place range orders for fixed rate debt and / or earn. The TermMax Vault will also launch, enabling Liquidity Providers to deposit funds to any Curator’s Vault to earn continuous yields and incentives across multiple markets with ease.

For more information on how TermMax is reshaping the future of DeFi fixed-income markets, visit the official website and follow us on X.

View original content:https://www.prnewswire.co.uk/news-releases/termmax-testnet-now-live-on-arbitrum-and-ethereum-transforming-the-future-of-defi-yields-302346949.html

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• Piloted by 60 enterprise businesses including: Patagonia, On, Indeed, NordSecurity and Fubo
• AI helps businesses increase payment conversion rates by up to 6% compared to legacy implementations

NEW YORK, Jan. 9, 2025 /PRNewswire/ — Adyen, the global financial technology platform of choice for leading businesses, announces the launch of Adyen Uplift. The AI-powered payment optimization suite will help businesses increase payment conversion, simplify fraud management, and reduce the cost of payments. Adyen’s customers can utilize data-driven, tailored performance recommendations and opportunities to test different payment configurations to maximize performance.

Saving businesses from trading off between conversion, risk, and cost

The complexity of payment management still holds businesses back from reaching their ambitions. They constantly need to compromise between conversion, fraud, and cost. Thanks to Adyen Uplift, businesses can optimize the full payments funnel with AI. AI-powered payment optimizations bundled in a single product suite are trained on Adyen’s global transaction dataset. Rather than navigating the complexity of payments in operational silos, the AI-first approach uses risk-based intelligence and automated conversion optimization to help businesses get more out of payments. The pilot has shown a significant effect on profits, with businesses seeing an overall uplift of up to 6% on their payment conversion rate.

“Balancing risk management, driving conversion, and minimizing cost has always required ineffective compromises – until now” said Carlo Bruno, VP of Product at Adyen. “Adyen Uplift changes the game by unleashing the depth and power of AI to solve for real-time payment optimization. This will transform cost savings and performance, redefining business efficiency in 2025 and beyond.”

$1 trillion+ payments data

Businesses and other providers rely on limited datasets, impacting their ability to recognize shoppers and payment behavior. With Adyen Uplift, companies benefit from AI trained on over a trillion dollars worth of global payments data from Adyen’s single platform.

“We’ve increased our conversion rate by up to 2% with Adyen’s AI, making a real difference to both our performance and cost efficiency, while keeping fraud under control,” commented Luca Spichtig, Head of Digital Operations & Projects at On.

Adyen has processed payments for over one billion consumers globally, giving its AI solutions a strong basis to differentiate good shoppers from fraudsters. When an Adyen customer encounters a new shopper, there is a high likelihood that Adyen has seen the shopper elsewhere on the platform. For a retail merchant on the Adyen platform, there is more than a 90% chance that Adyen has seen that shopper before. When a good shopper is identified, AI optimizations allow them to speed through checkout whilst shoppers and retailers also benefit from precise payment fraud mitigation.

“We’ve increased our conversion rate on customer initiated transactions by 10% by leveraging Adyen’s AI technology, which optimizes the entire payment funnel while maintaining control over fraud and costs,” commented Kes Saulis, Head of Payments at Nord Security.

The AI-first approach to fighting fraud

Today, the fraud control process is highly complex, requiring businesses to implement extensive manual rules to combat ever-evolving fraud techniques. With Adyen Uplift, businesses can automate fraud control by removing the operational burden from fraud management teams. The solution automates and refines risk management without relying on manual rules. This enables businesses to lower fraud levels and reduce false positives, depending on their risk appetite.

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Businesses piloting the risk product have seen the impact firsthand. Adyen’s pilot enterprise customers have reduced their manual risk rules by 86% on average, and 35% of customers have completely eliminated manual rules saving valuable time and resources. 

Adyen’s customer Indeed, a leading job matching and hiring platform, was able to run AI-based optimization experiments that are tailored to the unique characteristics of its business. This translated into a reduction in operational workload by automating processes to drive efficiency.

Reduce payment processing costs by up to 5%

Today, businesses are more focused than ever on their bottom line, yet many still view payments as a commodity rather than a powerful cost-saving strategy.

Adyen Uplift has reduced payment cost by up to 5% for pilot customers in the U.S. Adyen’s AI selects the best routes with the best rates for transactions to help minimize total cost of payment. Pilot customers also experienced cost savings through Adyen’s optimizations, which tailored the shopper-facing checkout flow to their needs.

To learn more about Adyen Uplift, click here.

About Adyen
Adyen (ADYEN:AMS) is the financial technology platform of choice for leading companies. By providing end-to-end payments capabilities, data-driven insights, and financial products in a single global solution, Adyen helps businesses achieve their ambitions faster. With offices around the world, Adyen works with the likes of Meta, Uber, H&M, eBay, and Microsoft. Adyen continuously improves and expands its product offering as part of its ordinary course of business. New products and features are announced via press releases and product updates on the company’s website.

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View original content:https://www.prnewswire.co.uk/news-releases/introducing-adyen-uplift-the-payment-solution-optimizing-every-transaction-with-ai-302347156.html