Are you wondering what news do we have for you in today’s edition of FinTech Wire? Well, the news are pretty good! Eco-friendly solutions pop up like mushrooms, and FinTech geeks will finally have the opportunity to attend a face-to-face conference this July. What else? Continue to learn more!
Weekly FinTech news digest: 6—12 April 2021
Exclusive Law implements DirectID to prove customers’ affordability
DirectID’s open banking capability will provide financial information about customers
How to verify customer affordability after a car accident or when a car hire is needed? DirectID knows the answer, and its affordability suite backed by open banking technology is gaining momentum. As informed by the DirectID team, the affordability assessment solution was chosen by Exclusive Law Group, a law firm specialising in personal and criminal injury claims, dealing also with motor accident claims. The technology provided through DirectID’s open banking API helps the company assess the income of an individual and prove the customer’s affordability to process a claim.
Read more about open banking solutions
UK green FinTech Tred raises £500K in a crowdfunding campaign
The startup is part of the sustainability trend in FinTech
That’s a pretty impressive start of a crowdfunding campaign! The UK startup Tred needed only one day to raise more than £500K on the crowdfunding platform Crowdcube, significantly exceeding the target amount of £500K… and that’s only the beginning. It seems like the investors loved the idea behind Tred: a mobile banking app that actually fights climate change by tracking the carbon footprint. What is more, Tred will offer a debit card made from recycled plastic waste and promises to use the profit to plant trees. This news proves that sustainability is a growing trend in FinTech. If you want to learn more about the topic, I recommend reading this article about green FinTechs to watch in 2021.
Read more about other 2021 trends in FinTech
Sokin Enterprise, a business payments platform with multi-currency accounts, launched
Sokin charges a transparent, fixed fee for unlimited payments and FX services
This new FinTech on the block wants to transform the landscape of international business payments with the global platform Sokin Enterprise. Faster and more convenient payments and FX services provided by Sokin will be available starting from 16th April in the UK and Europe, with further plans to roll out the platform in Canada and other countries this year. The company already announced that it’s working on several new features: from products for sole traders and SMEs to an Embedded Finance platform.
Read more about payment processing startups
FinTech Week London confirmed to take place in-person this July
It will be the first such gathering in the City since the Covid-19 lockdowns
Finally, after a year full of online conferences and meetups, face-to-face events are slowly coming back to the old venues. The CEO of FinTech Week London, Raf de Kimpe, confirmed that the event will take place offline at Barclay’s Rise on 12-16 July 2021, being the first such in-person FinTech event organised in the City post-pandemic. The event will gather 2,000 attendees. Key topics of the conference include open banking, banking-as-a-service, financial inclusion, and cybersecurity.
Read more about the top FinTech events to attend in 2021
Mastercard teams up with Doconomy to develop a carbon calculator
The tool can be integrated into banking apps to show customers the emissions generated
Another news, another green solution. This one is a result of the collaboration between Mastercard and Swedish FinTech Doconomy that worked together to create a carbon footprint calculator. The tool is offered to banks worldwide and can be integrated into banking apps through an API in order to show customers the amount of emissions generated by their purchases. The calculations can be accompanied by relatable equivalents, for example, the number of trees needed to compensate for the CO2 emitted. The two companies hope that their invention will help shoppers make more informed and eco-friendly choices.
Read more about the development of API solutions
Tune in next week for more exciting news!
We hope that’s only the beginning of good news for 2021. If you want to be the first person to learn about all the important updates in FinTech, then just follow us on social media and stay tuned!