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HomeBankingBanking Technology Magazine February 2024 issue out now

Banking Technology Magazine February 2024 issue out now

Date:

  • The February edition of Banking Technology Magazine discusses challenges in the banking and fintech industry in 2024.
  • Mass layoff announcements were reported across the industry, including major players like Citigroup and challengers like Brex.
  • Tech firms facing difficulties, with UK-based Paysme and Kikapay shutting down, citing challenges during and post-Covid.
  • Twig, a UK-based circular economy fintech, enters liquidation two years after securing $35 million in a Series A and making acquisitions.
  • PFS Card Services Ireland Ltd (PCSIL), acquired by Australian paytech EML Payments in 2019, is being liquidated in Ireland as it is deemed no longer commercially viable.
  • In India, ZestMoney, a buy now, pay later (BNPL) start-up once valued at $450 million, faces a fire sale to DMI Group after potential buyer PhonePe abandoned the deal and founders departed.
  • Ongoing challenges and uncertainties in the fintech sector are highlighted, with the magazine urging readers to stay updated on the latest developments.

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