Fintech, Finance, Technology, Banking Highlights – 2 November 2017
Grab launches GrabPay e-wallet in hawker stalls, restaurants and shops in Singapore
Grab, Southeast Asia’s leading on-demand transportation and mobile payments platform, today revealed its in-store and in-restaurant payments feature.
GrabPay now officially positions itself as the payment method of choice for cash-based merchants, with a value proposition of affordability, a user base of 4 million in Singapore and a service which requires no new payments devices. The latest development of the GrabPay wallet follows after the launch of its peer-to-peer payments service one month ago and GrabPay Credits, its top-up service, one year ago. This launch represents another major milestone in the company’s transformation from on-demand transportation platform towards the largest consumer internet platform in Southeast Asia.
US Bank rolls out digital payment features
US Bank announced Disbursements via Zelle and Supplier Prefer Pay, two new digital payment solutions that make it easier for corporate and commercial banking clients to transition from paper to electronic payments.
These solutions minimize the time and risk involved in the process of soliciting, storing and maintaining banking information for business and individual payees. Disbursements via Zelle and Supplier Prefer Pay are just two of the innovative payment options that U.S. Bank offers its clients.
“Organizations are looking for payment solutions that solve real-life challenges,” said Dominic Venturo, executive vice president and chief innovation officer, U.S. Bank. “With Disbursements via Zelle and Supplier Prefer Pay we make payables more secure and efficient for business clients by eliminating the upfront effort required to obtain the payees’ banking information.”
Iberiabank selects nCino platform
NCino announced that IBERIABANK has selected its Bank Operating System to increase speed and process efficiency across several lines of business at the institution, including commercial and small business lending as well as treasury management.
Headquartered in Lafayette, Louisiana, IBERIABANK serves more than 228 branch offices in 10 Southeastern states. During an evaluation of its current technologies, the bank identified the need for a partner that would help optimize its processes to enable efficient and profitable growth. By leveraging nCino’s Bank Operating System, IBERIABANK is gaining a single, secure cloud-based platform, built on Salesforce.com, that combines customer relationship management (CRM), loan origination, deposit account opening, workflow, enterprise content management, business process management, digital engagement and instant reporting.
Acorns adds tool to save and invest in child’s future
Acorns Australia, the micro-investing app, has rolled out a new feature to make it easier for parents to save; invest; and build a fund for children, grandchildren and other dependents under the age of 18.
Launching today, Little Acorns sits allows an Acorns’ account holder to allocate a percentage of their current balance to a child. They can then track the performance of their allotment individually.
Once the Little Acorns user turns 18 they can open their own Acorns account, with the option of receiving the funds that have been accrued by their parent.
This new feature will incur no extra cost, and is part of the growing offering Acorns has as both an investing and education tool, to build the financial literacy and wealth of all Australians.
Aus social finance app Finch secures $2.25 million in seed financing
Finch, ‘a financial app for your social life’ has secured $2.25m in seed funding just three months after launch.
Earlier this year, the Melbourne-based fintech won Best Product Demo at the No. 1 fintech program in the US, Envestnet | Yodlee.
Finch, which is live on Android and iOS across Australia, combines social payments and spending insights to bring the most frequent financial activities of millennials in one place, while helping build financial awareness.
