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Welcome to Emerging Tech Trends (ETT), focusing on technologies shaping the future.
In this edition,
JUMO Secures $120m Funds : London-based fintech company, JUMO has successfully raised $120 million funding from new and existing investors to support the scaling of its platform’s capacity, to enable the company to evolve its services and increase the number of financial products on offer to SMEs, and provide long-term lending options for merchants and bigger businesses and also support its international expansion to new market like Cameroon.
All Banks Should Think About Crypto Trading : Chairman of The Orogen Group and former chief executive officer of Citigroup Inc., Vikram Pandit says, all major financial institutions will soon be thinking about trading cryptocurrencies. In “one to three years, every large bank and, or securities firm is going to actively think about ‘shouldn’t I also be trading and selling cryptocurrency assets?’ He further hopes that central banks around the world understand the benefit of a central bank digital currency, and move on to accept, adopt them.
China’s Digital Currency, eCNY, has been Used in USD10 Billion Worth Transaction : China’s central bank digital currency (CBDC), digital yuan, has been used in transactions worth nearly $10 billion, while its adoption rises, nearly $10 billion transacte and has been downloaded by about 140 million people.
Union54 : Union54 Developer Hub provides Bank Identification Number (BIN) sponsorship, transaction processing and settlement – Its card issuing infrastructure is premised on an API which issues debit cards without needing a bank or a third party processor based on simple pricing. It issues cards to riders/drivers and have 360 overview of expenditure by merchant, also issue a companion debit card to wallets, credits businesses over our single/multiple use debit cards, just to mention a few.
Strive Community Innovation Fund Makes Available $1m Grant for Small businesses : Strive Community Innovation Fund makes available of up to $1m for digital and data first solutions that enable small businesses with fewer than 10 employees to digitize their operations, better use financial services, or participate more effectively in digital marketplaces. Strive Community, a global initiative launched by Caribou Digital and the Mastercard Center for Inclusive Growth’s Innovation Fund aims to spark new ideas for catalyzing small businesses’ resilience and growth, at scale. Applications is open until December 17, 2021 and applicants can be start-ups, established companies, non-profits, social enterprises, or other organization types.
The 8th Virtual Fintech Connect: 2021 FinTech Connect conference dubbed “The Global FinTech Ecosystem Connected” is to take place on 01 – 02 December, 2021. The virtual conference will bring together challenger banks, innovative merchants, central banks, tier one financial institutions or cutting-edge tech players, and related experts and professionals to discuss challenges and successes in AI, Open Banking, CBDCs, DeFi, Embedded Finance, Fraud, AML and digital transformation.
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