In today’s top digital-first banking news, MercadoLibre has been granted a license from Brazil’s central bank, while payments FinTech Alacriti has teamed with Glia on new customer service options for payments needs. Plus, payment startup SumUp has been granted a new electronic money license from Ireland’s central bank.
MercadoLibre will work on growing its collection of credit offerings after gaining a license to run as a financial institution in Brazil. The new license from the nation’s central bank will let it have independence in making and directly operating financial services there, along with accessing new kinds of financing. MercadoLibre’s credit division MercadoCredito was started in 2017 in Brazil.
Alacriti, the payments FinTech, has teamed with Glia on new customer service choices for payments needs. The collaboration will let financial institutions utilize Ella, Alacriti's artificial intelligence (AI) chatbot, in Glia’s customer service offering. That will help clients and members with the nuances of electronic payments.
SumUp, a payments upstart, has been granted a new electronic money license from the Central Bank of Ireland. The new license from Ireland’s financial services watchdog will let it provide its services throughout 26 European nations. SumUp has been active in Ireland as of 2012 and has introduced digital payments to thousands of companies. More than 3 million retailers harness its technology.
Employment retraining and new skill sets are needed to foster economic expansion, Federal Reserve Bank of Philadelphia President Patrick Harker said per a published report. “The economy will not grow unless we bring people up from the lower-skilled jobs into the middle class,” Harker said during an interview that will be part of an online event.