Tag: WealthTech

Digital bank Umba has acquired a 66.6% stake in Kenyan microfinance outfit Daraja as it looks to expand its presence on the continent.

With every new variant of Covid, the end of the pandemic continues to move further into the distance. These past two years have shown the cruciality of digital services, and firms no longer have a choice to avoid it if they want to stay successful. The trouble is, where does a firm start?

For many companies, 2021 was the year to get back on track. Last year, the Covid-19 sent ripples across the financial market and companies were forced to enter survival mode, but this year saw more relaxed measures and a chance to push for growth once again. But was this the case?

Wealth managers typically focus on older people, as that is where the money is. However, young investors hold the wealth of tomorrow and capturing them early will stop them going elsewhere.

A recent report by open banking credit reference agency Credit Kudos has found that the adoption of open banking in lending could be set to reach 87% by 2023.

Corporate spend and cash management company Rho has secured £75m in a Series B funding raise.

A study conducted by AutoRek and Worldwide Business Research has found up to 60% of asset and wealth managers view reconciliations as the biggest challenge to their company.

Mexican corporate spending tracker Mendel has secured $35m across a Series A raise and a debt financing round.

Global wealth management platform FNZ has entered a deal to acquire client onboarding and client servicing platform Appway for an undisclosed fee.

A recent blogpost by cross-border payments company Currencycloud has examined the importance of partnerships to the success of FinTech companies.