banking
Grey has expanded its business banking services to include USD business accounts, bulk payments, and support for the USDC stablecoin, all within a single platform. The company aims to simplify international transactions and reduce costs for businesses. Addressing Cross-Border Payment Challenges Cross-border payments present ongoing difficulties for businesses, particularly in emerging markets. The World Bank […]
This week’s edition of Finovate Global focuses on fintech developments in countries located in and around East Africa. Digital banking secures investment in Zambia Zambian digital banking platform Lupiya has raised $11.25 million in Series A funding. The round, nearly two years in the making, was led by IDF Capital’s Alitheia IDF Fund, and featured […]
U.S. Century Bank has launched Team Four, a new business-lending group, to expand its Small Business Administration (SBA) and Commercial & Industrial (C&I) lending capabilities. The group will focus on supporting small businesses in the Airport West market, including Doral, Medley, East Hialeah, and the Milan Dairy corridor. Benito “Benny” Carmona, Senior Vice President and […]
African markets are exhibiting mixed, but increasingly stabilizing, macroeconomic signals. South Africa has paused its rate-cut cycle despite easing inflation, while more economies are returning to single-digit price growth. Ratings actions are reshaping risk perception around sovereigns and multilaterals, and cross-border bank expansion is drawing closer scrutiny from credit agencies. South Africa Holds Rates as […]
Absa Group has announced changes to its executive leadership team and made a key hire from Stanbic Bank Kenya. These adjustments reflect increased competition for experienced banking professionals. Leadership Appointments and Reassignments Renato D’Souza has been appointed as director of business banking. He joined Absa earlier in the year from Stanbic Bank Kenya, where he […]
Fintech has rapidly emerged as a transformative sector in Africa, redefining financial service access for millions. Fintechs and digital financial services have consistently received the most funding across the continent by both value and deal count. The Banking Experience Edge A prevailing narrative suggests that fintech founders benefit from prior experience in banking or financial […]
Paga, a Nigerian fintech startup, has launched a digital banking service in the United States, specifically targeting the African diaspora. This marks the company’s expansion into the US market. About Paga Founded in 2009, Paga operates a consumer digital wallet, a business-to-business infrastructure platform called Paga Engine, and Doroki, a retail and small and medium-sized […]
Flutterwave, a leading payments technology company in Africa, has acquired Mono, a provider of open banking infrastructure. The acquisition aims to enhance Flutterwave’s account-to-account (A2A) payment capabilities and foster a more interconnected financial ecosystem throughout the continent. The announcement was made on January 5. The move establishes open banking as a key component of Flutterwave’s […]
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