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Weekly News Roundup: 06/01

Welcome to our weekly news roundup, of headlines which caught our eye. We’ll bring you a weekly dose of some of the most interesting titles which have surfaced, with a particular focus on the topics of challenger banks, insurtechs, crypto payments and beyond.
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This week’s roundup will feature titles on digital currency, investment in stocks and cash protection. Join us and Unlimit BaaS’ Managing Director, Jovi Overo in the exploration of some of the biggest headlines of our industry.

  • Alex Bank, Australian challenger bank has received a license to operate as an Authorised Deposit-taking Institution by the Australian Prudential Regulation Authority. The bank now supports over 2,500 customer accounts, offering loans and saving accounts; and will now be able to accept deposits using new generation technology. [source: Fintech Futures]

It is great news that Alex Bank has received a licence to operate as an authorised deposit taking institution. This will allow them to provide more services to their customers and help them to grow their business. The benefits of next generation technology for Alex Bank include increased efficiency, improved customer service, and enhanced security. This should help reduce costs and improve the overall customer experience. – Jovi

  • Aviva and Singlife have launched Singlife Connect, a program for accelerating growth of insurtech start-ups. The partnership of both insurance providers is designed to give successful applicants access to a suit of products and insurance verticals to enable quick and effective go-to-market strategies. [source: Crowdfund Insider]

This is a good partnership as the acceleration of growth for insurtech can be achieved using innovative technologies such as artificial intelligence, machine learning, and blockchain. These technologies can help insurers to improve customer experience, reduce operational costs, and increase efficiency. Additionally, partnerships with other companies in the industry can help to expand the reach of insurtech solutions and create new opportunities for growth. – Jovi

  • Ukrainian pharmacies, ANC Pharmacy, have adopted payments with crypto exchange Binance Pay. Customers will be able to proceed with contactless crypto payment services to purchase pharmacy products online and collect from their preferred location. [source: Coin Telegraph]

It is great to see that the ANC pharmacy is accepting cryptocurrency as a form of payment. This is a great step forward in terms of modernising the payment system and making it more accessible to a wider range of customers. – Jovi

See you next week, back in the blog for your next weekly news roundup.

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