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Welcome to your daily FinTech news!
In case you missed it, please see below today's most relevant news, or tune in to our Daily Fintech Podcast here.
NEWS HIGHLIGHT
Frustration over major banks in Australia delaying the activation of the new direct debit system known as PayTo is intensifying. A group of fintechs who have raised tens of millions of dollars in venture capital funding to help merchants reduce payment costs plea for banks to switch on the system. Link here.
FINTECH NEWS
#BreakingNews
- Lending Works rebrands as Fluro to focus on embedded lending. Under the new Fluro brand, Founder Nick Harding said the business would double down on its role as an institutionally-funded embedded lender. Forging close partnerships and offering up its lending tech for companies to quickly develop and roll out their own consumer loans. Link here.
#Crypto
- The UK elects a crypto-friendly prime minister. Liz Truss, representing the UK’s Conservative Party, is expected to take over following current PM Boris Johnson’s planned resignation. Link here
#FinTechInnovation
- Coinmetro launched a swap feature. The new tool will enable investors to buy into their whole portfolio in a straightforward trade, without buying each coin or token individually. Link here
