Fintech News & Trends Digest - January 2025

Xamun Team
January 24, 2025

As we delve into the latest happenings in the fintech space, this digest highlights key developments across the UK, Philippines, ANZ, and global markets. Here’s what you need to know:

UK Fintech News

The UK fintech scene continues to thrive despite recent challenges.

  1. Neonomics Acquires Ordo
    Neonomics Group has made headlines with its acquisition of Ordo, a UK-based open banking payments provider. This strategic move aims to enhance Neonomics' market presence and integrate advanced technologies to better serve customers. The acquisition has been approved by both the UK Financial Conduct Authority and Norway's Financial Supervisory Authority, positioning Neonomics to leverage Ordo's expertise in Variable Recurring Payments (VRP) and pay-by-bank tools (Financial IT).
  2. HSBC to Close Zing App
    In a surprising turn, HSBC announced plans to shut down its international money app, Zing, just a year after its launch. This decision follows a strategic review and reflects HSBC's intention to focus on areas with greater growth potential by integrating Zing's technology into existing services (Fintech Futures).

Philippines Fintech News

The fintech landscape in the Philippines is marked by rapid growth and innovation.

  1. Maya Bank Reports Growth
    Maya Bank has reported impressive growth, achieving PHP 39 billion ($664 million) in performance last year. This surge highlights the increasing adoption of digital banking services in the region (Business World).
  2. GCash Expands in Japan
    GCash has enhanced its international presence by partnering with Alipay+ and PayPay in Japan. This collaboration aims to facilitate easier money transfers for Filipinos abroad, showcasing the global aspirations of local fintech players (Inquirer).

ANZ (Australia and New Zealand) Fintech News

In ANZ, fintech companies are also making significant strides.

  1. Banking Circle Set to Acquire Australian Settlements
    Luxembourg-licensed Banking Circle has announced its intention to acquire Australian Settlements Limited (ASL), a move aimed at bolstering its operations in the Australian market. This acquisition, which is subject to regulatory approvals, will enhance Banking Circle's ability to provide settlement and processing services for banks and payment companies in Australia. The CEO of Banking Circle highlighted that this strategic acquisition is part of their commitment to offering seamless, cost-effective payment solutions and creating a global real-time clearing and settlement hub for all major currencies (Fintech News Singapore).
  2. Australia Proposes Overhaul of Financial Reporting Structure
    On January 27, 2025, Australian Treasurer Jim Chalmers unveiled a consultation paper aimed at revamping the country's financial reporting system. This initiative seeks to improve transparency and efficiency within the financial sector, addressing key areas that impact financial service providers. The proposed changes are expected to facilitate better compliance and reporting processes across the industry (Fintech Global).
  3. FinTech Australia Launches Key Events and Reports
    FinTech Australia is kicking off the year with significant events scheduled for January 30, including a report launch titled "Unlocking Growth: How Fintech Payment Solutions Empower Small Businesses." This report aims to provide insights into the payments ecosystem and support small businesses in leveraging fintech solutions for growth. Additionally, the organization has introduced a new Regulatory Impact Guide (RIG) designed to help members navigate upcoming regulatory changes affecting financial services (FinTech Australia).

Global Fintech News

On a global scale, fintech continues to evolve with notable trends.

  1. Global Fintech Funding Declines
    Global fintech funding saw an 8% decline in 2024, totaling $50.3 billion, while mergers and acquisitions surged nearly 80%. This shift indicates cautious investor sentiment and a focus on consolidation within the industry (FintechNews CH).
  2. MoonPay Acquires Helio
    MoonPay's acquisition of Helio for $175 million enhances its cryptocurrency payment services, underscoring ongoing expansion and innovation within the global fintech landscape (Fox Business).

As we look forward to 2025, it is evident that the fintech industry is undergoing significant transformations across various regions. From strategic acquisitions to innovative partnerships, these developments highlight the resilience and adaptability of fintech companies in navigating challenges and seizing opportunities. Staying informed about these trends will be essential for anyone involved in or following the fintech space as we move further into this dynamic year.

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