Seize Monetary Group Notches $300 Million
In today’s top payment news around the world, Grab Financial Group said it had raised $ 300 million in a financing round while the Saudi Arabian Monetary Authority (SAMA) implements open banking policy. Plus, the UK’s high-end restaurants will adapt to takeout and delivery if the country is locked again.
Grab Financial Group raises $ 300 million for advanced financial solutions
Grab Financial Group, a Southeast Asian FinTech, announced it had raised $ 300 million in a financing round. South Korean asset management company Hanwha Asset Management led the round. Flourish Ventures, Arbor Ventures, GGV Capital and K3 Ventures were some other investors in the group. Grab Financial Group intends to use the new investments to bring more staff on board and expand its offering in Southeast Asia with more affordable, easily accessible and transparent financial offerings, according to a press release.
Saudi Arabia’s Open Banking Plan aims to drive digital innovation
SAMA introduces an open banking policy to drive digital innovation in financial services. The country’s central bank announced that Open Banking should go online in the first half of next year. “Open banking will lead to direct innovation by improving the ability to develop new products and services – either” in-house “or in collaboration with third parties – to increase the value proposition of financial players and generate additional revenue streams,” it said Policy document.
Britain’s best restaurants make takeout a lifestyle
As the UK locks up again, the country’s finest restaurants are adapting to takeout and delivery. A number of London’s most elegant establishments have reportedly gone to great lengths to recreate the high-end dining experience in addition to white gloved delivery via takeaway cardboard boxes. Supper Ltd., which specializes in gourmet food delivery, is a winner during the lockdown. The company uses Honda gyro mopeds, which are designed not to tip over when cornering, which helps keep food containers stable.
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Over: From the online betting industry where physical location at the time of use is a matter of state law to banks that adhere to stringent international KYC (Know Your Customer) regulations, geolocation services are proving to be a powerful weapon against fraudsters. Oddly enough, however, recent PYMNTS research shows that consumers are more willing to share location data with grocery ordering apps than with their own bank’s mobile app. Join the discussion as Karen Webster, CEO of PYMNTS, and geospatial experts discuss the revolution in the use of geolocation data and why banks need to participate.