How do you overcome barriers? FinTechs featured in this week’s Code & Pepper news selection seem to know the answer providing their audiences with experiences that work across borders, help to save time and most importantly, empower their users to be in charge of their financial wellbeing. Find out more about a major Open Banking event, a fund encouraging NFT projects and successes of companies that optimise processes around payments, money transfers, education loans and donations!

FinTech Wire #49: Borderless Solutions Empower Their Users and Secure the Biggest Fundings

Weekly FinTech News Digest: 28 Sep—4 Oct 2021

Open Banking get-together by Open Banking Expo

More than 80 speakers on five stages will inspire the much awaited debate

Open Banking Expo, a global platform for Open Banking executives will bring the community together for a real-life event in London 4 November 2021. This feels like the right time for an Open Banking update as the scene is heating up with more and more companies embracing the technology that facilitates the opening up of banking data. The main interest is how Open Banking can generate revenue for the parties involved. Along with the gains the key issues are also safety and compliance. More than 80 speakers on five stages will inspire, moderate and progress the much awaited debate.

Read about open banking integration

Creator fund for NFT projects initiated by Ripple

The idea is to drive the creation and the adoption of non-fungible tokens

Another stimulating move for the advancement of the FinTech revolution has been made by Ripple who launched a creator fund for NFT projects. Ripple is an innovative payment and currency exchange system relying on open source technology and the sum that they have donated is $250 million. The idea is to drive the creation and the adoption of non-fungible tokens which are surfacing as an alternative type of a digital asset. They have been most popular in the art world so far, but this is changing with examples from such sectors as nature conservation or real estate.

Read more about blockchain

$500 million funding for a LendTech company, Prodigy Finance

Purpose-driven company whose mission is to revitalise the global higher education sector

Money injection has also been given to Prodigy Finance who is an education loans provider that supports people in obtaining postgraduate qualifications. They have just secured $500 million funding from CPP Investments which they plan to spend on the expansion of their offering to other countries such as Australia, China and Japan. Prodigy Finance is a purpose-driven company whose mission is to revitalise the global higher education sector. The idea is to promote financial inclusion by primarily focusing on low-income and female applicants.

Read more about financial inclusion

Fundraising success for TransferGo that offers money transfers across the globe

Their ambition is to grow 5 times in the next 3-4 years

Prioritising financial inclusion and customer-centricity has been paying off to TransferGo – a leader in the sector of international money transfers for retail customers. They have just secured $50 million which they will invest in growing their customer base and developing their product. TransferGo is indisputably a high-achiever offering one of the fastest services on the market and registering 80% year on year growth since its launch. Now, their ambition is to grow 5 times in the next 3-4 years.

Read more about customer experience

Launch of Daffy, an app celebrating the idea of generosity

Technology that simplifies and automates charity

Another heart-warming bit of FinTech news is about launching Daffy, a mobile app that uses technology to simplify and automate charity. It is based on a simple idea to put aside a chosen amount of money and invest it in three different portfolios: Standard, ESG and Crypto. The money stored on the app grows tax-free and can be donated any time to any charity based on one’s personal preference. Daffy was created by Adam Nash who was motivated by the success of Acorns where he contributes as the member of the Director Board.

Read more about empathy in FinTech

Card-issuing platform Highnote boosted by $54 million funding

The service vows to win over the legacy card-issuing platforms.

Their professional expertise has also inspired John MacIlwaine and Kin Kee, Braintree veterans who set out to create Highnote. It is a card-issuing startup that has just bagged $54 million funding to further define its offering. The service is aimed at small and medium-sized businesses and it vows to win over the legacy card-issuing platforms. This will be achieved through simplifying the processes of implementation and integration and an option to customise the platform following the needs of the specific client. The funding will be spent on growing the product and expanding the engineering team.

Read more about embedded finance solutions

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