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Welcome to another episode of our Daily Fintech Podcast.
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THE NEWS HIGHLIGHT OF THE DAY IS
Jake Anderson conducted a recent consumer research study on neobanking surveying over 5000+ consumers worldwide. Some key findings are: Banking goes digital as mobile apps become the dominant method of accessing bank accounts. Also, LATAM leads the way in neobank adoption, with the majority of adults IN BRASIL having both a digital and traditional bank account.
JUST IN:
Paytm Payments Bank was barred by its central bank from adding new customers due to likely gaps in its technology systems, potentially denting its small finance bank aspirations and further roiling investors skeptical of the fintech's ability to boost earnings after an expensive initial share sale.
ALSO:
Sachin Bansal’s Navi Technologies, a fintech startup that offers customers insurance and loan products, has filed for a $440 million IPO.
FURTHERMORE,
Pivo Financial Services, a startup created by Nkiru Amadi-Emina and Ijeoma Akwiwu to be the neobank for trade in Africa, entered the market with Pivo Capital, a credit-focused financial services platform for supply chain small and medium businesses (SMEs).
WHAT ARE THE LATEST INSIGHTS?
Mastercard is seeing accelerating interest in digital currencies as a payment method for everyday purchases. Mastercard has been working closely with related parties everywhere, including Thailand, to prepare for the future of payments in which digital currencies will be a critical choice for consumers, said Aileen Chew, country manager of Mastercard for Thailand and Myanmar.
AS FOR PARTNERSHIPS
DoorDash announced a partnership with Melbourne, Australia-based financial technology company Afterpay to offer BNPL on all orders in the fintech company’s home country.
WHAT ABOUT FUNDING ROUNDS AND INVESTMENTS?
Moove Africa raised $105 million in new Series A2 financing.
Leiden raised $50M in its Series B round of funding.
WHAT ABOUT THOSE MOVERS AND SHAKERS?
Curve chief operating officer Nathalie Oestmann is leaving the fintech after two and a half years.