Welcome to TechCrunch Fintech! This week, we’re looking at how two fintech companies serving the underserved are faring, and more! To get a roundup of TechCrunch’s biggest and most important fintech stories delivered to your inbox every Sunday at 7:00 a.m. PT, subscribe here.  The big story PayJoy is an example of a company with…

NEW YORK — The free flow of consumer data and information would spark innovation in their industry, fintech leaders say.  “If you had the right to move and transport your data, I think we would see a lot more innovation there,” Matt Janiga, director of regulatory and public affairs at fintech Trustly, said at Empire…

Financial institutions are prioritizing cloud migration as cost reduction and innovation continue to be top of mind.  “We definitely see cloud migration as a must,”  Rodrigo Silva, regional director for the Americas at Temenos, tells Bank Automation News on this episode of “The Buzz” podcast.  According to the tech provider’s annual economics report, set for release on April…

Lerato Motloung is a mother of two who works in a supermarket in Johannesburg, South Africa. After her phone was stolen, Motloung had to go without a mobile phone for nine months because she could not afford a new one. Then, in February 2024, she saw a sign about PayJoy, a startup that offers lending…

Springfield, Ill.-based bank INB relies on third-party vendors to build most of its technology, then customizes it to meet the needs of INB its clients.  “For our size, we need a good partner,” Chief Operating Officer Mark Donovan told Bank Automation News. “Development talent is a scarce resource … developing a solution that can integrate…

JPMorgan Chase is investing in innovation and technology within its wholesale payments operations amid rising demand for global payments capabilities.  The $3.7 trillion bank is leaning into payment systems, Chief Financial Officer Jeremy Barnum said today during the bank’s first-quarter earnings call. “Our willingness to invest is one of the things separating us in this…

Talking of sharing data, Salt Edge just sent me some interesting stats about Open Banking and Open Finance (there is a difference). They start by quoting that inconsistently reliable source Statista, who claim that the number of open banking users worldwide was expected to grow by an average of 50% per year between 2020 and……

Things we’re reading today include … Managing the transition to central bank digital currency | CEPR Investors Circle ‘Most Hated’ Fintech and E-Commerce Sectors — The Information $45bn fintech hires a generative AI executive in Chicago (efinancialcareers.com) Mastercard to realign organisational structure with three new divisions – FinTech Futures: Fintech news Uber stops fintech plans……

This week’s main blog discussions include … Selling customer data – good or bad idea? Be careful with data Many years ago a few banks debated the idea of selling customer data to get a payback. It was the wrong decision – if you sell customer data, it should the customer who gets the payback,……

Wells Fargo pulled back on its branch footprint as digital and mobile banking adoption climbed in the first quarter.  “Our branches are becoming more advice-focused … [and] we are modernizing and optimizing our branch network,” Chief Executive Charlie Scharf said today during the bank’s Q1 earnings call. “We continue to invest in talent, technology and…