Latest news with #underbanked
Yahoo
02-07-2025
- Business
- Yahoo
FPT, audax partner to expand digital banking in Asia Pacific and Middle East
IT services provider FPT has entered a strategic partnership with audax Financial Technology, a digital banking solutions provider backed by Standard Chartered. The collaboration aims to provide scalable and secure digital banking services to financial institutions in the Asia Pacific and Middle East, with a goal of achieving $100m in revenue over three years. Under the agreement, FPT will act as audax's primary regional partner in the Asia Pacific, handling development, testing, deployment, and ongoing operational support. The partnership combines audax's digital banking platform with FPT's capabilities in cloud-native development, microservices architecture, DevSecOps, and agile delivery. FPT Software CEO Pham Minh Tuan said: 'Building on our nearly three decades of experience in the financial services domain, and a longstanding partnership with Standard Chartered Ventures across multiple strategic projects, we will accelerate digital banking transformation and help our customers expand access to secure, future-ready financial services.' The initiative targets the underbanked populations in the Asia Pacific, enabling financial institutions to update legacy systems and adopt models like embedded finance and Banking-as-a-Service to meet the demand for digital financial services. audax CEO Kelvin Tan stated: 'This partnership supports our vision to lead the digital transformation of banking, enabling financial institutions to scale, unlock new growth opportunities, and stay ahead of the curve with innovative business models that drive financial inclusion.' The collaboration between the companies began in 2020, with FPT supporting audax's product development and market rollouts in the Asia Pacific. In December last year, audax partnered with Tuum, focusing on the Middle East to deliver digital banking capabilities. FPT, based in Vietnam, operates in technology, telecommunications, and education, with 3,000 engineers serving over 200 clients in the fintech sector. audax Financial Technology supports banks and financial institutions in scaling and modernising, having enabled Standard Chartered's SC nexus Banking-as-a-Service offering in Asia. "FPT, audax partner to expand digital banking in Asia Pacific and Middle East " was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Yahoo
28-06-2025
- Business
- Yahoo
Should You Buy Nu Holdings While It's Still Below $15?
Fintech company Nu caters to underbanked populations in Latin America, and its growth trajectory has been impressive. All banks are exposed to macroeconomic and geopolitical risks, but Nu has so far navigated the volatility in its markets. Its earnings continue to soar, which makes the stock look like a good deal at its current valuation. 10 stocks we like better than Nu Holdings › American investors might not be too familiar with Nu Holdings (NYSE: NU). True, it's a large-cap company with a $65 billion market capitalization currently. And yes, Warren Buffett's Berkshire Hathaway owned a stake in it for about three years. But because it operates in Latin America, Nu probably flies under the radar for many here in the U.S. This fintech stock has soared by an impressive 230% in the past three years (as of June 25), although it has taken investors on a volatile ride along the way. But should you buy shares right now while they trade below $15? Because of how mature the financial services industry is, there aren't that many companies in the space that are rapidly rising up through its ranks. Here's where Nu stands out. Its leaders saw an opportunity to target unbanked and underbanked populations in Latin America, providing them with a digital-first platform that offers bank accounts, brokerage services, credit cards, loans, and crypto trading, among other things. As of March 31, Nu had 119 million customers, the vast majority of them in its home market of Brazil. The company now counts a remarkable 59% of that country's adult population as its customers. In the last three years, Nu has essentially doubled its customer base. Nu also operates in Mexico and Colombia, both markets that have sizable potential. Combined, they have a population of 185 million people -- 13 times greater than the number of customers Nu has attracted so far in those countries. The leadership team is optimistic. According to their estimates, Nu has only captured 5% of its gross profit total addressable market in Brazil. One key pillar of its growth playbook is to constantly innovate. Nu just launched a service offering private payroll loans in Brazil, taking on the established players in that part of the industry. It also has a travel service (NuTravel) and a mobile phone service (NuCel). These initiatives clearly show its willingness to venture beyond financial services. It might have plans to enter other new markets down the road, further expanding revenue potential. However, so far, executives are playing it close to the vest. Because Nu's growth has been so spectacular, investors might overlook the fact that this is still a bank at its core. And that means that Nu is heavily exposed to certain factors outside of its control. Interest rates are one thing to keep in mind. No one can reliably predict with any level of precision what direction interest rates are headed in over the longer term. But rate hikes and cuts can have profound impacts on Nu's revenue and earnings. A recession or economic downturn would also spell trouble for the bank, as demand for loans would fall, delinquencies would rise, and spending activity would take a hit. Nu's operations are entirely in Latin America, which is still a developing region. On the one hand, that's an advantage, as it provides Nu with a huge opportunity to expand its offerings, bring on new customers, and ride the wave of GDP growth and smartphone/internet penetration. On the other hand, developing economies are prone to volatility. For instance, Brazil's economy is dependent on commodity exports, which can be influenced by market prices that can negatively impact GDP. There are other issues as well, like political instability and corruption. These elements can make running a successful financial services enterprise difficult. Nonetheless, Nu has performed exceptionally well in the face of these ongoing risks. Its revenues have soared, and so have its profits. Diluted earnings per share jumped 47% year over year in Q1, and analysts are forecasting that this key metric will increase at an annualized pace of 36% between 2024 and 2027. With shares trading at a forward P/E ratio of 23.5, investors should consider buying this fintech stock while it's still below $15. Before you buy stock in Nu Holdings, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Nu Holdings wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $713,547!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $966,931!* Now, it's worth noting Stock Advisor's total average return is 1,062% — a market-crushing outperformance compared to 177% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 23, 2025 Neil Patel has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Berkshire Hathaway. The Motley Fool recommends Nu Holdings. The Motley Fool has a disclosure policy. Should You Buy Nu Holdings While It's Still Below $15? was originally published by The Motley Fool Sign in to access your portfolio
Yahoo
17-06-2025
- Business
- Yahoo
Braviant Holdings Secures SOC 2 Certification to Strengthen Focus on Next Generation Lending
CHICAGO, June 17, 2025 /PRNewswire/ -- Braviant Holdings, a leading provider of tech-enabled credit products and services for underbanked consumers, announced it has successfully achieved SOC 2 Type I Certification to reinforce the company's commitment to enhanced data protection standards for underbanked consumers. This milestone reflects Braviant's dedication to maintaining the highest standards of data security, availability, and confidentiality while advancing its mission to empower non-prime consumers with better credit solutions through next-generation lending. The SOC 2 Type 1 certification validates that Braviant's security controls and processes meet rigorous industry standards as verified by an independent third-party auditor at a specific point in time. This certification covers the company's systems responsible for processing, storing, and transmitting sensitive customer data, ensuring robust protection of personal and financial information. "For consumers who are working to rebuild or establish credit, trust is paramount. Receiving this SOC 2 certification is a critical milestone that reflects our deep commitment to protecting our customers' data and maintaining their trust," said Bob Sides, CTO of Braviant Holdings. "Our customers entrust us with their most sensitive financial information, and we take that responsibility seriously." Empowering Consumers with Secure Financial Innovation Braviant combines breakthrough technology and customer-centric experiences to empower consumers with better online credit solutions. The company's proprietary decision models look beyond traditional credit scores to assess a person's true ability and willingness to repay, creating opportunities for underbanked consumers who might otherwise be excluded from traditional financial services. The SOC 2 certification ensures that sensitive financial data used in Braviant's advanced analytics and machine learning models is protected at every stage of the lending process. With this milestone, Braviant can continue to develop innovative credit solutions while maintaining consumer confidence in today's digital financial services landscape. Benefits for Consumers The SOC 2 certification provides multiple benefits for Braviant's customers: Enhanced Data Protection: Consumers can be confident that their personal and financial information is safeguarded by industry-leading security controls and processes. Increased Transparency: The independent audit process provides objective verification of Braviant's security practices, offering consumers greater transparency into how their data is protected. Continued Innovation: With robust security foundations in place, Braviant can continue developing cutting-edge financial products and services that help consumers achieve better financial outcomes. Regulatory Confidence: The certification demonstrates compliance with stringent security standards, supporting Braviant's ability to serve consumers across multiple markets. Commitment to Ongoing Excellence Achieving SOC 2 certification represents just one element of Braviant's comprehensive approach to data security and consumer protection. The company maintains additional security measures, including regular security assessments, employee training programs, and continuous monitoring of its systems and processes. "This certification reflects our company-wide commitment to operational excellence," said Kim Anderson, CEO of Braviant Holdings. "Every member of our team understands that protecting customer data is fundamental to our mission of helping consumers achieve financial success." ABOUT BRAVIANT: Founded in 2014, Braviant delivers tech-enabled consumer credit solutions, empowering consumers to take control of their personal finances. Braviant's proprietary decision models look well beyond traditional credit scores to more accurately assess a person's true ability and willingness to repay. Braviant's easy-to-use, customer-centric financial solutions help thousands of US consumers solve immediate financial challenges while graduating to lower rates and gaining improved access to credit. For more information about Braviant, please visit View original content to download multimedia: SOURCE Braviant Holdings Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Washington Post
09-06-2025
- Business
- Washington Post
Bitcoin is introduced into Africa's largest slum, with risks and rewards
KIBERA, Kenya — Dotting the roadside in what is widely considered Africa's largest urban slum are typical stands selling vegetables. What isn't typical is their acceptance of bitcoin as a form of payment. Around 200 people use bitcoin in Soweto West, a neighborhood of the Kibera slum in Kenya 's capital. It's part of an initiative to extend financial services to one of the country's poorest and most under-banked areas.
Associated Press
14-05-2025
- Business
- Associated Press
Mastercard: New Paths To Progress: Making Financial Success Accessible for Underbanked Consumers
Mastercard A staggering 36 million North American consumers — 12% of the population — are underbanked, navigating their financial lives with a bank account but without access to essential credit tools like credit cards. Longstanding financial inequities have limited their growth, yet they remain driven, with 66% seeking financial knowledge and 65% looking to financial institutions for solutions. Underbanked consumers are a diverse and dynamic group. They are early adopters of technology, embracing AI, digital finance, and open banking solutions. Mental health is also a priority, with financial stability playing a crucial role in their well-being. 01Building trust is key for underbanked consumers as 65% would like financial institutions to help address financial inequities, yet more than half also feel taken advantage of by the financial system. 02About 85% of underbanked consumers rely on debit cards, a significantly higher rate than the general population, presenting a unique opportunity for financial growth. By helping this underserved group transition to credit, we can facilitate new possibilities for financial access. 03Underbanked individuals carry significant responsibilities. Many have fewer resources that need to stretch farther. Stress and anxiety weigh on them, which is why underbanked consumers prioritize their mental health more than most, and nearly half have a near-term personal goal to improve their mental health (39% higher than the total population). 04The financial uncertainty for some underbanked consumers stems from childhoods of poverty — 64% lived in households of low socioeconomic brackets as children, vs. 46% among the total U.S. However, they are pursuing education and professional growth at rates two times higher than the general population, and two out of three are seeking more financial knowledge to gain control over their personal situation. 05Addressing their needs requires a tailored approach focused on trust, access, usage, health and education. Through our Powering Prosperity framework, we have identified three key personas within the underbanked segment, each with unique aspirations and challenges. Debit products provide an entry point for engagement, while education and personalized financial tools can help bridge gaps in financial literacy and access. The opportunity is clear: By fostering trust and offering targeted solutions, we can empower underbanked consumers to achieve financial stability. Now is the time to reshape financial inclusion and build lasting relationships with this growing audience. White paper New paths to progress: Making financial success accessible for underbanked consumers Recognizing a gap in support for the underbanked, a new Mastercard survey uncovered emerging trends reshaping consumers' lives and the societal context in which they operate. Within this diversity and cultural transformation, we identified subgroups with distinct attitudes, revealing unique potential ready to be unlocked. Read the report Originally published by Mastercard Follow along Mastercard's journey to connect and power an inclusive, digital economy that benefits everyone, everywhere. Visit 3BL Media to see more multimedia and stories from Mastercard
