With so many things to be thankful for this week, fintech is probably not top of mind for most. But the truth is many companies today are embracing the spirit of the holiday season by using fintech to improve people’s lives. This week in the news, one fintech startup announced the design for a platform that will allow caregivers to make financial transactions safely on behalf of people in their care. Other organizations are looking at ways to streamline the food stamp process and assist with debt and repayment options for those in need. Want to learn more? Continue reading our latest roundup to find out what other fintech innovations we can be grateful for this holiday season.
Fintech Inspires Hope this Holiday Season
“Fintech is perhaps one of the most defined opportunities that the collision of the internet, smartphones, and AI could present to empower people and make a difference,” John Kennedy stated in a recent article for Silicon Republic. At a recent industry event in Ireland, seven start-ups presented innovative fintech ideas specifically designed to help people. The winning start-up devised a platform that would promote transparency and enable caregivers to make financial transactions safely on behalf of people in their care. Read the full story here.
Authomate Wins the UBS Future of Finance Challenge for Americas
The UBS Future of Finance Challenge 2017 opened up earlier this year to companies interested in showing the world how they are changing the way fintech is meeting the needs of banking today. While three regional finals just completed the Challenge, it was revealed that Authomate has won for the Americas division. Authomate’s Strong Pass technology allows enterprises to implement strong security policies that can be easily adopted by humans. Find out more about the competition and winners here.
Fintech to Make People More “Bankable”
According to the World Bank, there are two billion people who currently have no access to banking services across the world, but there is hope for those denied services due to poor credit choices. Fintech companies and investors are trying to find solutions to this problem so more people can become “bankable”. Companies such as Propel which streamline the food stamp process and Bee, a mobile alternative for low-income people are just a few doing so. Find out more here.
Barclays to Trial Itemized Receipt Technology
Wouldn’t it be nice to have a complete, itemized view of your purchases through a mobile banking app this holiday season? The London- based fintech startup, Flux, recently announced a partnership with Barclays in the U.K. that will trial its itemized receipt technology with 10,000 of the banks customers. The young company has built a software platform that bridges the gap between the itemized receipt data captured by a merchant’s point-of-sale (POS) system and what little information typically shows up on your bank statement or mobile banking app. Find out more here.