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The Latest Breaking News from fintech

Morning Digest | Google announces global fintech operation centre in Gujarat; ‘We stand together to fight BJP in 2024’, says Opposition in Patna, and more

The Hindu’s Morning Digest brings readers a select list of stories to start the day

The Hindu

Board exodus at London fintech WorldFirst

London fintech WorldFirst has seen a mass board exodus as billionaire Jack Ma tightens his grip on the management of the payments company, the Standard has learnt.

Evening Standard

Fintech City contractor had bagged NHAI contract as well, says T.N. government

The company PST Engineering Construction (PSTEC), which came under criticism for poor quality of construction in the apartments it built for Tamil Nadu Urban Habitat Development Board in K.P. Park, Chennai, had recently bagged a contract from National Highways Authority of India as well, a statement by the Tamil Nadu…

The Hindu

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Is PayPal Holdings (PYPL) a Buy or Sell This Week?

Fintech pioneer PayPal’s (PYPL) stock has been losing steam in the post-pandemic period. However, PYPL is well-positioned for long-term growth. So, does this present the right opportunity to scoop up some PYPL shares? Read on.

StockNews.com

Govt. draws flak for awarding Fintech City contract to firm that built poor quality flats

The Tamil Nadu government has come under criticism for awarding the contract for developing infrastructure at the upcoming Fintech City in Nandambakkam, Chennai, to the Namakkal-based PST Engineering Construction, which came under the scanner for constructing poor quality apartments for the economically weaker sections at K.P. Park in Chennai

The Hindu

Overhyped valuations are threatening our fintech crown

City Voices: Fintech founders are scared to face the fact that their blockbuster IPO dream is no longer realistic

Evening Standard

ONE joins the fintech battle for banking customers with a 5% APY high-yield savings account

This ultra-competitive rate is available on balances up to $100,000.

Fortune

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Intentional communication the name of the game in a hybrid work environment

Minneapolis-based fintech company Branch switched to a "remote-first" model during the pandemic.

Tribune News Service

Join the Fintech Revolution With These 3 Fintech Companies!

Fintech is changing how borrowers access capital. Here's 3 companies investors are buying.

Barchart

Fintech firm CAB Payments eyes £1 billion valuation in London IPO

London could be about to welcome its newest tech unicorn after a Sutton-based fintech unveiled plans for an initial public offering in fresh signs of a resurgence of activity in the capital’s stock exchange.

Evening Standard

How cashless societies can boost financial inclusion -- with the right safeguards

Cashless societies, where transactions are entirely digital, are gaining traction in many parts of the world, particularly after a pandemic-era boom in demand for online banking.

The Conversation

Are the wheels coming off for Silicon Roundabout? Top tech bosses are divided

Microsoft isn’t the only firm to warn the tide is turning

Evening Standard

Delhi High Court refuses to stay investigation against Ashneer Grover, wife in Economic Offences Wing FIR

The Delhi High Court on June 1 refused to stay at this stage an investigation against BharatPe co-founder Ashneer Grover and his wife Madhuri Jain in a case of an alleged ₹81 crore fraud based on a complaint by the fintech unicorn.

The Hindu

3 Fintech Stocks Failing to Impress Investors

Given the growing adoption of digital financial services, the long-term prospects of the fintech industry look bright. However, not all fintech stocks can capitalize on the industry tailwinds. Therefore, it could be wise to avoid fundamentally weak fintech stocks Marathon Digital (MARA), Bit Digital (BTBT), and Argo Blockchain (ARBK). Read…

StockNews.com

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Birmingham Post

Bottlepay to close down app, two years after Newcastle fintech firm's acquisition

The Newcastle company says the app will close in two months, saying 'we’re really sorry to put you through the inconvenience of having to leave us'

Evening Standard

London crowned the ‘founder factory of Europe’ in new report

As many as 185 startup spinouts have been created from 27 London unicorns

Evening Standard

London fintech Paydock secures £25 million Series A funding round

Payments orchestration business Paydock has become the latest London fintech to attract an eight-figure funding round, the Standard can reveal.

Tribune News Service

Bankrate: These fintechs are automating the budgeting process

While not a bank in the traditional sense, Oportun — formerly known as Digit — is offering a new way for consumers to do their banking that integrates artificial intelligence (AI) technology. Customers link their bills and credit cards, and Oportun’s algorithms determine how much should be allocated to each…

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Evening Standard

Wise CFO to quit after CEO says he will step away

London fintech Wise could soon be without both its long-serving bosses, after the CFO today said he plans to leave the firm just days after the CEO revealed he would be taking a multiple-month leave of absence.

The Guardian - UK

UK ministers ask to meet Revolut amid reports it may be refused licence

Britain’s most valuable fintech firm has criticised regulatory hurdles that it says could drive it abroad

Evening Standard

Russian fintech and Kalashnikov owner added to UK’s sanctions list

Oil and gas tycoons, Russia’s biggest fintech and the owner of the company behind the AK-47 are among those listed as part of a fresh wave of sanctions as the UK ramps up its economic offensive against Russia.

Birmingham Post

Interactive Investor creating jobs as it significantly increases headquarters

The company employs more than 400 people in Manchester

Fortune

Future of Finance: PwC’s Oliver on how 'fintech is becoming crypto'—and approaching the point where 'there is no paper money'

The PricewaterhouseCoopers partner also said that when the dust finally settles, most of the biggest names in finance won’t be going anywhere.

The Independent UK

Fintech innovation could mean the end of traditional business banking

Paysend is a Business Reporter client.

Barchart

Why the Unusual Options Volume for SoFi Technologies (SOFI) Deserves a Closer Look

Although bullish investors of SoFi Technologies appear enthused about Monday’s discount, SOFI stock may incur a longer-term challenge.

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