Mercado Pago, the FinTech arm of MercadoLibre, reportedly applied for a banking license in Mexico earlier this month. The firm sent the application to the Mexican regulator, the National Banking and Securities Commission (CNBV), Reuters reported Wednesday (Sept. 25). Mercado Pago is the second-largest digital wallet in Mexico,...
Many FinTechs partner with credit unions (CUs) and other financial institutions (FIs) to provide the innovative products and services that today’s digital-first consumers expect. In fact, almost all view CUs as collaborators more than competitors. To be successful partners, FinTechs need to align their innovation...
In today’s financial services arena, embedded finance and banking-as-a-service (BaaS) have emerged as transformative forces, redefining the way banks and financial institutions (FIs) engage with consumers and businesses. At the core of this shift is the use of application programming interfaces (APIs), which enable smooth...
Most countries measure banking activity in terms of where and how it happens. Hence distinctions such as in-branch, ATMs, online and mobile. But in Latin America, for all intents and purposes, there’s only one kind of banking: digital. It’s reflected in PYMNTS recent “How The...
August 27, 2024
Many FinTechs partner with credit unions (CUs) and other financial institutions (FIs) to provide the innovative products and services that today’s digital-first consumers expect. In fact, almost all view CUs as collaborators more than competitors. To be successful partners, FinTechs need to align their innovation roadmaps with CUs’ innovation agendas. A key objective among FinTechs […]
August 27, 2024
In today’s financial services arena, embedded finance and banking-as-a-service (BaaS) have emerged as transformative forces, redefining the way banks and financial institutions (FIs) engage with consumers and businesses. At the...
August 16, 2024
Most countries measure banking activity in terms of where and how it happens. Hence distinctions such as in-branch, ATMs, online and mobile. But in Latin America, for all intents and...
August 07, 2024
The MoneyLion business model pivot continues. A year after posting substantial losses as a neobank, the financial services portal rode its new business model to a second straight profitable quarter...
September 30, 2024
NCR Voyix has completed the sale of its digital banking unit, the company said in a Monday (Sept. 30) news release. The unit was sold to Veritas Capital for $2.45 billion in cash, along with the potential for additional contingent consideration of up to $100 million, the company said in the release. Rebranded as Candescent, the digital […]
September 25, 2024
Mercado Pago, the FinTech arm of MercadoLibre, reportedly applied for a banking license in Mexico earlier this month. The firm sent the application to the Mexican regulator, the National Banking and Securities...
August 06, 2024
Digital commerce firm NCR Voyix has found a buyer for its cloud-based banking business. Tech investor Veritas Capital has agreed to purchase the banking platform for $2.45 billion in cash, along with “future additional contingent consideration”...
July 08, 2024
Australian Banking Association (ABA) CEO Anna Bligh said its “time to go back to the drawing board” when it comes to the country’s open banking rules. Bligh said this in a...
