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Weekly News Highlights – 27 May 2021

This week’s fintech news has been marked by new developments in terms of financial inclusion, tech hub expansion, new online marketplace, fintech partnerships, start-up ecosystem, banking in the context of post-Brexit. Discover the latest updates and enjoy the materials!

MAS becomes the first central bank to join Mojaloop Foundation to advance financial inclusion (theedggemarkets.com)

The Monetary Authority of Singapore (MAS) has joined the Mojaloop Foundation as a sponsor-level member to collaborate on providing affordable financial services to the underserved. The Mojaloop Foundation seeks to improve the economic well-being of 1.7 billion unbanked adults globally through financial inclusion. The collaboration between MAS and the foundation makes the former the first central bank to do so. Read more

Klarna locates new tech hub in Madrid (Finextra)

Klarna, a buy-now-pay later service company, is to open a new tech hub in Madrid that will employ 500 freshly-recruited engineering staff. The focus in coming months for the company will be on recruiting in product development roles, including engineers, product managers, designers and experts in data science and analytics, transforming it current office into a global product development center. Read more

Visa takes a swipe in fintech, builds new online marketplace (Techcrunch)

Visa announced that it is aimed at helping facilitate banks and fintechs’ ability to work together. Specifically, it has expanded its Visa Fintech Partner Connect, a program designed to help financial institutions quickly connect with a set of technology providers. The program initially launched in Europe in November of 2020, and now is available in the U.S., Asia Pacific, Latin American and CEMEA (Central Europe, Middle East and Africa). Read more

epay announces new partnership with Revolut (fintechmagazine.com)

epay, a UK-based business segment of the North American group Euronet Worldwide Inc, has signed up to be the global partner for the challenger bank, Revolut. epay’s collaboration will enable Revolut customers to enjoy a wider range of services via the bank’s apps, including gift cards and digital content without having to leave the platform. Users can now arrange future exchange rates online at any time and are able to get a fixed foreign exchange rate for an agreed amount and date through Revolut’s app. Read more

Lavita develops national policies to support the start-up ecosystem (Irish Tech news)

Latvia plans to develop two national policies in support of the start-up ecosystem, a national startup support policy and a fintech strategy. The main focus of these developments is specifically the fintech sector, as the EU’s fastest-growing start-up is fintech from Latvia, and the country is home to major European fintech companies. Read more

Deutsche Bank to ‘relocate 100 London bankers’ to EU and Asia (FS Tech)

Deutsche Bank is reportedly moving 100 bankers from the capital to offices in the EU and Asia, as part of its post-Brexit restructuring plan. The role of staff will be transferred to Dublin, Berlin, Frankfurt and a number of cities across AsiaSome London-based staff that are able to work in the EU could reapply for their jobs, but must take a 25 per cent pay cut. Read more

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