Fintech
Finastra names Hack to the Future 4 winners
Finastra today announced the winners of its Hack to the Future 4 annual global hackathon. Thousands of participants from over 75 countries submitted 230+ projects focused on sustainable and inclusive finance, embedded finance and Banking as a Service (BaaS), and Decentralized Finance (DeFi).
And the winners are…
Best Business Model Innovation: EnFOLL – a marketplace for second-hand solar panels, helping underserved communities get access to renewable energy, and extending the life of the products.
Runners up: Effortless.
Best Fintech submission: PRAAM – Physical Risks Analytics for Asset Managers – an integrated solution to identify, evaluate, manage and report physical risks in investment portfolios. Benefits include value protection, climate risk management and operational efficiency.
This project is a collaboration between IMPACTPlus, a fintech start-up, and a Finastra FusionInvest team. IMACTPlus also won the Best Woman-Led Fintech prize for this submission.
Best Embedded Finance submission: Effortless – Quick and simple Buy Now Pay Later financing. Consumers benefit from a simple way to apply for a loan with optimal terms and payment options, direct from their trusted financial institution.
Runners up: FinFit 2.0 | Wellness Banking and Fundget.
Best ESG submission: Give XRP – a fast, simple, secure app for charitable giving, enabling crypto users to make tax-deductible donations.
Runners up: I-REC trading, Malachi, Friends Reference Bureau
Best DeFi submission: Monnex(TM) – Accessing Finance the Confident way(TM) – A revolutionary platform that helps monetize traditional assets like Equities etc. to access real liquid funds or investments into crypto without impacting the integrity of these assets.
Runners up: Growr, Payment Vouchers and PiggiFund.
Best Diversity, Equity & Inclusion (DE&I) submission: Growr – an app that encourages financial inclusion by enabling borrowers to receive fair and instant unsecured loans based on self-sovereign identity and DeFi protocols.
Runners up: Trackio and A Green Vest.
Prizes for winners include mentoring and scholarship programs, cash, crypto and internship opportunities.
Chirine BenZaied, Head of Innovation at Finastra said, “We want our hackathons to ignite a movement towards a world of financial sustainability, inclusion, and autonomy. This year’s projects really reflect that goal and we’ve been so excited to see the truly innovative ideas that people all around the world have come up with. We also garnered so much insight from these projects on the technologies and trends the industry is moving towards. We see the market switching from private to public blockchains and looking for ways to embed DeFi into traditional banking services, for example. We also see that there is still significant need to find solutions that support financial inclusion, especially in connection with BaaS. Congratulations to all of the winners and a big thank you to our hundreds of supporting partners, our judges and mentors.”
Finastra also hosted a youth hackathon for 10-18 year olds, encouraging the next generation to help change the world of finance. Hundreds of projects were submitted from around the world, including ideas from India and Moldova.
Youth hackathon winning teams:
MicoBank – a project submitted by a 14-year-old at the Deva Matha Central School – an app to reward children for positive actions with Solana Tokens that can be spent in store, secured by blockchain.
Finlit – A project submitted by two students – a literacy tool to solve financial inclusion challenges for young people.
Runners up: Aiding Peace.
Finastra made its open APIs available via its FusionFabric.cloud development platform for the hack.
To see all the project submissions from the hackathon, click here.
To tap into the previously live meet up sessions, which have over 23,000 views, and join the Hack to the Future fintech movement, click here.
#HackToTheFuture #HackingForGood #OpenByDefault
Fintech
Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA)
As we close out 2024, the fintech industry continues to deliver headlines that underscore its dynamism and innovation. From IPO aspirations to groundbreaking regulatory milestones, today’s updates highlight the transformative power of fintech partnerships, regulatory evolution, and disruptive technologies. Here’s what you need to know.
Chime’s Quiet Step Toward Public Markets
Chime, the U.S.-based financial technology startup best known for its digital banking services, has taken a significant step by filing confidential paperwork for an initial public offering (IPO). As one of the most valuable private fintechs in the U.S., Chime’s move could potentially signal a renewed appetite for fintech IPOs in a market that has been cautious following fluctuating valuations across the tech sector.
With a valuation that reportedly exceeded $25 billion in its last funding round, Chime’s IPO could set a new benchmark for the industry. Observers note that its strong customer base and revenue growth may make it an appealing choice for investors seeking to capitalize on the digital banking boom. However, the timing and success of the IPO will depend on broader market conditions and the regulatory landscape.
Source: Bloomberg
ZBD’s Pioneering Achievement: EU MiCA License Approval
ZBD, a fintech company specializing in Bitcoin Lightning network solutions, has made history by becoming the first to secure an EU MiCA (Markets in Crypto-Assets Regulation) license. This landmark approval by the Dutch regulator positions ZBD at the forefront of compliant crypto-fintech operations in Europe.
MiCA, which aims to harmonize the regulatory framework for crypto-assets across the EU, has been a focal point for industry players aiming to establish legitimacy and expand their offerings. ZBD’s achievement not only validates its operational rigor but also sets a precedent for other fintech firms navigating the evolving regulatory landscape.
Industry insiders view this as a strategic advantage for ZBD as it broadens its footprint in Europe. By leveraging its regulatory approval, the company can accelerate its product deployment and establish trust with institutional and retail users alike.
Source: Coindesk, PR Newswire
The Fintech-Credit Union Synergy: A Blueprint for Innovation
The convergence of fintechs and credit unions continues to reshape the financial services ecosystem. Collaborative initiatives, such as the one highlighted in the recent partnership between fintech innovators and credit unions, are proving to be a potent force in delivering tailored financial solutions.
This “dream team” approach allows credit unions to leverage fintech’s technological expertise while maintaining their community-focused ethos. Key areas of collaboration include digital payments, personalized financial management tools, and enhanced loan processing capabilities. These partnerships not only enhance member engagement but also enable credit unions to remain competitive in an increasingly digital-first financial environment.
Industry analysts emphasize that such collaborations underscore a broader trend of traditional financial institutions embracing fintech-driven solutions to bridge service gaps and foster innovation.
Source: PYMNTS
Tackling Student Loan Debt: A Fintech’s Mission
Student loan debt remains a pressing issue for millions of Americans, and a Rochester-based fintech aims to offer relief through its cloud-based platform. This innovative solution is designed to simplify loan management and provide borrowers with actionable insights to reduce their debt burden.
The platform’s features include repayment optimization tools, personalized financial education, and seamless integration with loan servicers. By addressing the complexities of student loan management, this fintech is empowering borrowers to make informed decisions and achieve financial stability.
As the student loan crisis continues to evolve, solutions like this highlight the critical role fintech can play in addressing systemic financial challenges while fostering financial literacy and inclusion.
Source: RBJ
Industry Implications and Takeaways
Today’s updates underscore several key themes shaping the fintech landscape:
- Regulatory Milestones: ZBD’s MiCA license approval exemplifies the importance of regulatory compliance in unlocking growth opportunities.
- Strategic Partnerships: The collaboration between fintechs and credit unions demonstrates the value of combining technological innovation with traditional financial models to drive customer-centric solutions.
- Market Opportunities: Chime’s IPO move reflects a potential revival in fintech public offerings, signaling confidence in the sector’s long-term prospects.
- Social Impact: Fintech’s ability to tackle systemic issues, such as student loan debt, showcases its role as a force for positive change.
The post Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA) appeared first on News, Events, Advertising Options.
Fintech
SPAYZ.io prepares for iFX EXPO Dubai 2025
Leading global payments platform SPAYZ.io has confirmed it will be attending iFX EXPO Dubai 2025 on 14 to 16 January. Exhibiting at Stand 64 at Trade Centre Dubai, SPAYZ.io’s team of professionals will be on hand providing live demonstrations of its renowned payment services for payment providers. Attendees will also receive exclusive insight into SPAYZ.io’s plans for 2025 alongside early early access to its upcoming plans for the new year.
SPAYZ.io delivers a host of payment solutions that leverage the latest technological innovations and open access to the fastest growing emerging markets across Africa, Europe and Asia. Over the past year, there has been huge demand for its Open Banking and local payment method services, alongside bank transfers, mass payouts, online banking and e-wallets.
Yana Thakurta, Head of Business Development at SPAYZ.io commented: “We look forward to once again participating at iFX Dubai to expand our network of partners and clients. It’s a fantastic way to kick off the year, connecting with thousands of industry leaders from FOREX platforms to trading companies, and everything in between.
“Our key goal for iFX Dubai EXPO 2025 is to expand our portfolio of solutions and geographies. We’re using this as an opportunity to partner with like-minded entities who share our ambition to provide payment solutions that are truly global.”
Come meet SPAYZ.io’s team at the Trade Centre Dubai at Stand 64. You can also book a meeting slot with a member of a team.
The post SPAYZ.io prepares for iFX EXPO Dubai 2025 appeared first on News, Events, Advertising Options.
Fintech
Airtm Enhances Its Board of Directors with Two Strategic Appointments
Airtm, the most connected digital dollar account in the world, is proud to announce the addition of two distinguished industry leaders to its Board of Directors: Rafael de la Vega, Global SVP of Partnerships at Auctane, and Shivani Siroya, CEO & Founder of Tala. These appointments reflect Airtm’s commitment to innovation and financial inclusion as the company enters its next phase of growth.
“We are thrilled to welcome Rafael and Shivani to Airtm’s Board of Directors,” said Ruben Galindo Steckel, Co-founder and CEO of Airtm. “Their unique perspectives and proven track records will be invaluable as we continue scaling our platform to empower individuals and businesses in emerging markets. Together, we’ll push the boundaries of financial inclusion and innovation to create a more connected and equitable global economy. Rafael and Shivani bring a wealth of experience and strategic insight that will strengthen Airtm’s mission to connect emerging economies with the global market.”
Rafael de la Vega, a seasoned leader in fintech global partnerships and technology innovation, is currently the Global SVP of Partnerships at Auctane. With a proven track record of delivering scalable, impactful solutions at the intersection of fintech, innovation, and commerce, Rafael’s expertise will be pivotal as Airtm continues to grow. “Airtm has built a platform that breaks down barriers and opens up opportunities for people in emerging economies to connect to global markets. I am excited to contribute to its growth and help further its mission of fostering financial inclusion on a global scale,” said Rafael.
Shivani Siroya, CEO and Founder of Tala, is a pioneer in financial technology, renowned for empowering underserved communities through access to credit and essential financial tools. Her leadership in leveraging data-driven innovation aligns seamlessly with Airtm’s vision of creating more equitable financial opportunities. “Empowering underserved communities has always been at the core of my work, and Airtm’s mission resonates deeply with me. I’m thrilled to join the Board and work alongside such a dynamic team to expand access to financial tools that truly make a difference in people’s lives,” said Shivani.
The post Airtm Enhances Its Board of Directors with Two Strategic Appointments appeared first on News, Events, Advertising Options.
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