NEWS
FinTech companies explore new data storage locations to meet sustainability goals
FINTECH Circle , in partnership with Bulk Data Centers , has released a report that found that FinTech companies growing concerns about their environmental impact is a major factor in determining where to store their data .
In a survey of senior executives in the FinTech and financial services sector , the report – The Data Usage Barometer – explores the broad trends taking place across FinTech . It showed that finance increasingly relies on data and energy-intensive technologies , with Artificial Intelligence , expected to be the technology that will be most vital to future growth , followed by Machine Learning .
Over a third of survey respondents had seen an increase of 50- 100 % in data usage and storage needs in the past three years and more than a third of the survey respondents predicted growth of at least two times in the next three years , with half of that group expecting an increase of more than five times .
“ From embedded finance , digital assets including cryptocurrencies , trading platforms and global payment solutions , FinTech is disrupting and reshaping our lives ,” said Susanne Chishti , CEO of FINTECH Circle . “ Central to this growth is where companies process their large volumes of data and our survey shows that the majority of companies have explored or plan to explore alternatives to their current data storage infrastructure .”
Half of the respondents said they are concerned about their company ’ s environmental impact and an even higher number agree that lowering their firm ’ s carbon footprint is an ethical concern .
Jingle Pay set to launch in Bahrain in collaboration with AFS
In Bahrain , Jingle Pay app users will have access to instant account opening , multi-currency cards , instant and fee-free money transfers to over 160 countries and 99 currencies , P2P payments including splitting bills , AI-embedded financial analytics and other value-added services .
Jingle Pay , a financial app that provides money services in the
Middle East , North Africa and Pakistan ( MENAP ) region , has entered into a strategic partnership with Arab Financial Services ( AFS ), a leading digital payments solutions provider and Fin-Tech enabler in the Middle East and Africa ( MEA ).
Jingle Pay and AFS deliver unique digital payments and customer experience to Bahrain . The partnership expands Jingle Pay ’ s footprint in the region simplifying the everyday financial lives of the masses .
Amir Fardghassemi , CEO of Jingle Pay , said : “ Through this strategic collaboration , Jingle Pay will operate as the digital financial technology arm of AFS ’ s mobile consumer business . AFS will provide end-to-end support in Bahrain for prospective Jingle Pay users , from digital onboarding to the processing of transactions made using the Jingle Pay app .”
By offering free and instant activation of digital multi-currency accounts , Jingle Pay focuses on financial inclusion through simplifying daily financial lives – aligned with the UN ’ s 2030 Sustainable Development Goals ( SDG ) for increased financial inclusion worldwide . www . intelligentfin . tech
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