In today’s FinTech news, GoTo is moving forward with its initial public offering (IPO) plans in Indonesia, while Green Dot collaborates with Plaid to expand banking services. Plus, Baselane expands its financial management services tailored to landlords’ needs and more.
Super App GoTo Readies $1.3B IPO on Indonesia Stock Exchange
GoTo, Indonesia’s largest startup, is planning a May IPO at a valuation of $29 billion. Formed from the $18 billion merger between Gojek and eCommerce firm Tokopedia, GoTo combines both firms’ technology and offerings with its own financial platform to offer ride-hailing, delivery, eCommerce and financial services.
Green Dot Teams With Plaid for Expanded GO2banking
Green Dot Corporation is partnering with payment authentication gateway Plaid to expand financial services solutions to Green Dot’s GO2bank customers.
GO2bank focuses on people who are left out of the traditional banking system due to low income, poor credit or thin credit. It’s especially suited to those living paycheck to paycheck and gig workers.
Baselane Intros Fully Integrated Banking for Landlords
Baselane’s end-to-end financial platform for landlords and real estate investors is expanding to offer fully integrated banking services tailored to the specific needs of the sector.
In partnership with Blue Ridge Bank N.A., the accounts can be customized for landlord-specific needs to simplify the financial management of their investment properties.
FinAccel Suspends IPO Plans Over Adverse Market Climate
FinAccel, the parent company of buy now, pay later (BNPL) firm Kredivo, is suspending its $430 million IPO that was set to take place via a merger with the special purpose acquisition company (SPAC) VPC Impact Acquisition Holdings II.
The public listing was intended to fund Kredivo’s global expansion efforts and take advantage of BNPL’s popularity.
CloudPay, Visa Partner on Faster Payroll Cycles
Global pay provider CloudPay is teaming up with Visa to reduce payroll payment cycles from days to seconds by paying salaries directly to employees’ debit or credit cards using Visa Direct.
CloudPay also offers a mobile app connected to Visa Direct, and employees also can use the CloudPay NOW app anywhere in the world to make pay-to-card payments from their earned wages before payday.
Banks’ Digital Offerings Walk a Fine Line Between Trust and Seamlessness
While banking customers want the best in data security, they don’t want an experience that’s rife with friction, Mzukisi Rusi, vice president of solutions at Entersekt, told PYMNTS in an interview.
While roughly 70% of consumers have “extremely” or “very high” levels of trust in their financial institutions, according to a PYMNTS survey, at least some of the other 30% have had less-than-optimal experiences with data security or know someone who has.
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NEW PYMNTS DATA: 57% OF CONSUMERS PREFER ADVANCED ID VERIFICATION AFTER TRYING IT
About:Fifty-seven percent of consumers who’ve used advanced ID verification methods such as voice recognition when contacting customer service say they’d do it again. The Consumer Authentication Experiences report, surveyed nearly 3,800 U.S. consumers to learn how offering innovative verification experiences is helping businesses deliver superior customer service across all channels.
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