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Daily Fintech Series Roundup: Top Fintech News, Analytics and Insights

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FTS Daily Roundup starts today! We are covering the top updates from around the world. The updates will feature state-of-the-art capabilities in Fintech insights, Trending fintech news, Crypto, Fintech SaaS, Fintech Cloud, Analytics and AI ML. We will cover the role of FTS Daily Roundup and its application in various industries and daily lives.

PayPal introduces digital Foreign Inward Remittance Advice

PayPal, a global leader in digital payments, introduced an automated process to obtain the monthly Foreign Inward Remittance Advice (FIRA). At a zero-cost, PayPal merchants will now be able to download their monthly digital FIRA issued by the bank by simply logging into their PayPal account. The fully automated process will not require sellers to place manual and individual requests, thereby reducing the time taken to file the paperwork. The initiatives are aimed to empower Indian MSME exporters to seamlessly grow their business internationally.

Japanese Megabank Works with Oracle to Modernize Accounting Systems

Sumitomo Mitsui Financial Group, Inc. has selected Oracle Fusion Cloud Enterprise Resource Planning (ERP) to consolidate accounting functions as part of its efforts to streamline business processes. SMBC Group will implement its shared services across its group companies.

Samsung Makes It Easier to Use Blockchain on Galaxy Devices With Support for Hardware Wallets

Samsung Electronics announced that blockchain users can now manage and trade virtual assets from third-party wallets on Samsung Galaxy smartphones. The update makes it easier for blockchain users to access and process transactions by importing virtual assets stored on select cold hardware wallets to the Samsung Blockchain Wallet available on most Galaxy smartphones.

Zywave Acquires Modgic, Provider of Workers’ Comp & Mod Analysis Software

Insurance technology provider, Zywave, today announced the acquisition of Bend, Oregon-based Modgic, a provider of workers’ comp and mod analysis software for the commercial insurance industry. Combined with Zywave’s existing commercial solutions, the acquisition strengthens Zywave’s portfolio of offerings in that market.

PayPal Accelerates Its Digital Transformation with Google Cloud to Support Customer Needs During Pandemic–and Beyond

Google Cloud and PayPal announced they are deepening their relationship to further accelerate PayPal’s digital transformation and evolving customer needs. Under this expanded relationship, Google Cloud will provide both infrastructure and analytics capabilities to support PayPal’s growth, helping the company process transactional data at massive scale.

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