Today in FinTech: the new FinTechIPO™ index

In today’s FinTech news, PYMNTS introduces the FinTechIPO™ Index to give people an idea of ​​how companies in the index are performing, while London-based FinTech We raised 8.9 million dollars to combat the cost of living.

FinTechIPO™ Index: Financial Services Game Changers Could Be in a Volatile Race

There’s the Dow, the Nasdaq and the S&P 500. And now there’s the new FinTechIPO™ Index, which will track FinTech performance over time since their IPOs. The FinTechIPO™ Index can be compared to broader market patterns as another barometer for a deeper look and better understanding of the market.

London-based FinTech We recoups $9m to ease cost of living crisis

London-based FinTech We is on a mission to help households better cope with the realities of the rising cost of living. The startup’s technology platform aggregates proprietary and third-party data feeds to deliver real-time financial insights with actionable insights.

Massmart strengthens its e-commerce capabilities with Mastercard Collaboration

African retail group Massmart is expanding its partnership with Mastercard to bring additional e-commerce solutions to small businesses in South Africa. The collaboration gave businesses the opportunity to purchase discounted electronic and mobile point-of-sale (POS) devices from Massmart.

Akulaku Secures $100 Million Investment for Southeast Asia Expansion

Indonesian digital banking and financial platform Akulaku has raised a $100 million strategic investment from Siam Commercial Bank. The new capital will help Akulaku accelerate its plans to expand its presence throughout Southeast Asia. Launched in 2014, Akulaku is already present in Indonesia, the Philippines and Malaysia. The startup is on a mission to help underserved customers in emerging markets gain access to digital banking and other financial services.



On: Forty-two percent of US consumers are more likely to open accounts with financial institutions that facilitate automatic sharing of their bank details upon sign-up. The PYMNTS study Account opening and loan management in the digital environmentsurveyed 2,300 consumers to explore how FIs can leverage open banking to engage customers and create a better account opening experience.

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