- FEXD, a company formed to develop a global financial technology ecosystem, continues to develop a diverse portfolio of FinTech-related products and services to consumers and businesses in the United States, South Asia, East Asia, Africa, Europe, and Latin America
- The goal is to empower underserved populations by providing FinTech solutions that boost and shift purchasing power
- Fintech innovations affect various dimensions of financial services, including domestic payments, credit, remittances, savings, insurance, and investment management
- Access to credit and remittances have been shown to have positive effects on purchasing power
- On its part, FEXD aims to develop products that help consumers buy products and services from anywhere, make payments across borders, remit money to recipients in other countries, and send money to people in remote locations
As early as 2016 – and perhaps even earlier – the signs were emerging of the disruption that financial technology, or FinTech, was set to cause in the market. “FinTech is a dynamic segment at the intersection of the financial services and technology sectors where technology-focused startups and new market entrants innovate the products and services currently provided by the traditional financial services industry. As such, FinTech is gaining momentum and causing disruption to the traditional value chain… Cutting-edge FinTech companies and new market activities are redrawing the competitive landscape, blurring the lines that define players in the financial services sector,” wrote PwC in its 2016 Global Fintech Report (https://ibn.fm/JRcUH).
Years later, FinTech has remained resilient, helping consumers and businesses weather a series of storms that battered the global economy, from the global pandemic and the uncertainty that came thereafter to the rising inflation in 2022 (https://ibn.fm/5RIb5). This resilience stems from the fact that…
NOTE TO INVESTORS: The latest news and updates relating to FEXD are available in the company’s newsroom at https://ibn.fm/FEXD
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