A snapshot on some of the major news of the top global FinTech corporates
Updated: Jan 14
What are some of the top FinTech companies disrupting the financial industry?
As the sector grows more complex, we have seen FinTech startups globally create innovative solutions to deliver seamless experiences, customised customer journeys, and simple solutions for the modern consumer.
Some of the top FinTech names globally include the Lending Club, Prosper, Upstart, SoFi, OnDeck, Avant, Funding Circle, Zopa, Lendix, RateSetter, Mintos, Auxmoney, Betterment, CreditEase, Lufax, Renrendai, Tuandai, maneo, Capital Float, Capital Match, SocietyOne, Ant FInancial, Ayden and
Wanted to share some recent news by some of these top players and what they have been doing in the market.
Ant Financial raise a $1 Billion Startup Investment Fund. The $1 billion fund will invest in startups from Southeast Asia to India. The internet finance company wants to support startups in those regions that have a focus on payments and online finance. Ant Financial is the highest valued FinTech company in the world, and the world's most valuable unicorn company, with a valuation of US$150 billion.
Affirm is a fintech startup that lets customers break up big purchases over time, allowing them to shop immediately from partnered vendors and pay in installments. The company recently announced a new program that will allow users to shop anywhere using an instant-approval prepaid card—effectively turning the brand's services into a kind of debit card system.
Xero revealed new cloud technologies in AI and Machine Learning. Xero announced a couple of new tools such as a short-term 30-day cash flow forecasting AI powered tool to give small business owners and their accountants a better view on their financial health. Xero is a global small business platform that changes the game for small businesses. They have a cloud-based accounting software that connects people with the right numbers anytime, anywhere, on any device.
Adyen has launched physical and virtual cards for their clients. The payments platform will offer its clients the ability to issue physical cards, and virtual cards which can be added to virtual wallets. Clients can provide these options to their customers which can be used online, in-app, in-store, and can be integrated into mobile wallets. Dutch FinTech Adyen’s payments platform is headquartered in Amsterdam and has UK offices in Manchester and London.
Zopa is moving into the wider banking space with their launch of a new fixed-term savings account. The savings account will offer users a fixed term for one month at 4% interest. Zopa is UK-based fintech which operates a peer-to-peer (P2P) lending platform.