Open Banking is a big deal, with wide implications – yet it still feels like the best-kept secret within financial services. It’s not about branches opening longer – it’s about an imminent, seismic shift in the world of banking, which rebalances the relationship between businesses, banks and customers with the recognition that data has value.
In November, Kuwaiti public-transport application My Route was sold to Oman-based smart-transportation company eMushrif for an undisclosed amount. Such cross-border acquisitions are generally rare in the Middle East’s nascent startup ecosystem. Except, that is, in Kuwait, which is trying to position itself as the perfect test market for companies that wish to try out digital […]
Imagine banks as mere funding sources, not as primary, customer-facing retail payments players. While retail payments leaders are seeing near-term growth, incumbents are projected to lose 11 to 15 percent of their revenue pool to new competitors. We offer five big bets banks can place to drive transformational change in North America retail payments. Will […]
SBM Bank (India) has signed an MoU with fintech startup PayNearby to build an open banking network towards delivering basic banking solutions as well as advanced financial services to the customers. The partnership would enable the bank to offer complete suite of digital and assisted banking solutions through PayNearby’s exhaustive network of micro-enterprise and retail […]