Finovate Global: Fintech News from Around the World

As Finovate goes increasingly global, so does our coverage of financial technology. Finovate Global: Fintech News from Around the World is our weekly look at fintech innovation in developing economies in Asia, Africa, the Middle East, Latin America, and Central and Eastern Europe.

Africa

  • Block Commodities, Walla, Dala, and FinComEco partner in new initiative to leverage cryptocurrencies to fund loans to African farmers.
  • Standard Chartered opens fully licensed bank in Côte d’Ivoire.
  • Nigerian fintech startups to compete for annual mCash Prize for Innovation in Fintech, sponsored by the Nigeria Interbank Settlement System (NBSS).

LATAM

  • Santander unveils new blockchain-based international wire transfer service for Brazilian consumers.
  • Digital bank Wanap goes live in Argentina (in Spanish).
  • El Financiero looks at the potential impact of a Mexico-like fintech law on fintech innovation in Costa Rica (in Spanish).

CEE

  • OTP Bank in Hungary partners with ACI Worldwide to power its digital transformation.
  • Sberbank and SAP team up to complete cloud-based digital transformation project.
  • Efigence powers concept, UX, and design for BGŻOptima Bank’s new portal.

Asia

  • Fintech Malaysia lists its 14 Names You Should Know to “highlight some of the movers and shakers within the fintech space in Malaysia.”
  • Ernest & Young executive predicts sharp rise in number of Vietnamese fintechs and “heightened investor interest.”
  • Research agency BMI says infrastructure, growing affluence, and high mobile and broadband use suggest Malaysia could be world leader in Islamic financial technology.

MENA

  • MENA Research Partners estimates the value of the MENA Fintech market at $2 billion, with an annual growth of $125 million over the next four years.
  • Daily News Egypt discussed Egypt’s commitment to digitize its economy with Visa CEO Alfred Kelly.
  • Emirates NBD integrates blockchain technology into cheques to fight fraud and forgery.

Top image designed by Freepik

Finovate Alumni News

On Finovate.com

  • doxo Teams with Coinstar to Facilitate Cash Payments for Underbanked.
  • Agreement Express Lands Funding from Frontier Capital.
  • Low-Code Development Platform OutSystems Forges Strategic Partnership with Atos.

Around the web

  • Iowa City-based Farmers & Merchants and Savings Bank to deploy Fiserv’s retail and business banking platform.
  • Zopa announces restructuring in advance of the launch of its challenger bank.
  • PYMNTS.com features Trulioo CEO Stephen Ufford in a conversation about the present and future of KYC.
  • Santander introduces its Santander One Pay FX service, a blockchain-based money transfer offering that leverages Ripple’s xCurrent technology.
  • Meniga CEO Georg Ludviksson selected as one of top 200 Fintech leaders in Europe
  • NuCypher teams with Origin Protocol to control access to sensitive information in decentralized marketplaces.
  • Efigence powers concept, UX, and design for BGŻOptima Bank’s new portal.
  • PYMNTS.com profiles anti-cyberfraud startup, Emailage.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

FinovateMiddleEast Sneak Peek: Efigence

A look at the companies demoing live at FinovateMiddleEast on 26 and 27 of February in Dubai, U.A.E. Pick up your tickets today and save your spot.

Efigence, a company specializing in implementing innovative technologies and designing UX for banks, presents a new features from the EF14 Digital Banking Platform: EF14 Analytics.

Features

  • Real-time analysis both on public and secure sites
  • Conversion of insights into recommendations with sales automation
  • On-premise solution ensures that the bank remains the sole owner of data gathered

Why it’s great
Take control with EF14 Analytics, your one-stop tool to manage all customer data securely and effectively and transform it into real-time recommendations.

Presenters

Andrzej Szewczyk, Vice President and Managing Director 
Szewczyk combines technology knowledge with experience in business management, creating innovative solutions for banks and other financial market players. He has been in the internet industry since 1999.
LinkedIn

 

Marek Lesiak, President and CTO 
A fintech evangelist specializing in innovative product development, Lesiak has almost 20 years of experience in designing web solutions.
LinkedIn

 

FinovateEurope Sneak Peek: Efigence

A look at the companies demoing live at FinovateEurope on the 6 through 9 of March 2018 in London. Pick up your tickets today and save your spot.

Efigence – a company specializing in implementing innovative technologies and designing user experiences for banks – presents a new feature from the EFI4 Digital Banking Platform: EFI4 Analytics.

Features

  • Real-time analysis both on public and secure sites
  • Conversion of insights into recommendations with sales automation
  • On-premise solution, ensuring that the bank remains the sole owner of data gathered

Why it’s great
Take control with EFI4 Analytics, your one-stop tool to manage all customer data securely and effectively and transform it into real-time recommendations.

Presenters

Andrzej Szewczyk, Vice President and Managing Director
Szewczyk combines technology knowledge with experience in business management, creating innovative solutions for banks and other financial market players. He has worked in the Internet industry since 1999.
LinkedIn

Marek Lesiak, President & CTO
Lesiak is a fintech evangelist specializing in innovative product development. He has almost 20 years of experience designing web solutions.
LinkedIn

Efigence Partners with Alior Bank, Telekom Romania to Help Launch Telekom Banking

Alior Bank’s Romanian branch has teamed up with Deutsche Telekom Group’s Telekom Romania Mobile Communications to develop a new digital financial service. And providing the online exchange for this service is none other than Alior Bank’s long-time partner, Efigence. “We have been working together on the Polish market in the field of technology for almost 10 years with very good results,” Marek Lesiak, Efigence President and CTO said. “We are delighted that Alior Bank appreciates our cooperation and decided to work with us on the international market as well.”

The online exchange platform from Efigence will be paired with the Telekom Banking daily online banking service, providing a new solution for customers in the Romanian market. In addition to providing the platform, Efigence designed the interface, and managed technology implementation and integration.

Left to right: Hubert Czerski (Head of Product Management), Paweł Haltof (Innovation Director), and Łukasz Wełniak (Head of Front-End) demonstrating the Efi4 Digital Banking Platform at FinovateEurope 2017.

“Through the online exchange platform, Telekom Banking’s customers benefit from real-time exchange rates for 10 foreign currencies,” said Head of eFX Commerce for Alior Bank, Tomasz Dośpiał. He added that customers using the exchange benefit from being able to initiate trades with only 5% of the total amount, and then provide the balance within two working days in order to complete the transaction.

Founded in 1995 and headquartered in Warsaw Poland, Efigence demonstrated its Efi4 Digital Banking Platform at FinovateEurope 2017. The platform supports online and mobile internet banking, features a payment and transactions automation module, as well as currency trading tools, PFM, and social and financial data aggregation tools for credit scoring. Modules include financial forecasting, through which customers receive contextual, relevant recommendations such as setting up a savings goal, or offers like an increase in credit limit or a personal loan based on their income and spending patterns.

In August, the company was hired by Emirates NBD to help the Middle Eastern banking group build a new interface and UX for its banking platform. In addition to its long-time partnership with Alior Bank, Efigence has also partnered with mBank (FinovateEurope 2013) and Idea Bank (FinovateEurope 2014), demonstrating banking platform innovations such as social media integration and transaction systems for SMEs.

Finovate Alumni News

On Finovate.com

  • Efigence Teams Up with Alior Bank, Telekom Romania to Help Launch Telekom Banking.
  • Mastercard Takes Blockchain Mainstream with API.
  • Zighra Launches Flagship Continuous Authentication Product.
  • Stash Reveals Plans to Launch Mobile-First Banking Service.

Around the web

  • Latvian Bank Citadele secures mobile and online banking with VASCO’s DIGIPASS for Apps and CRONTO
  • Azimo’s momentum continues with triple-digit growth.
  • Visa to offer ThreatMetrix technologies through its Visa ID Intelligence platform.
  • Lendio joins lending platform association.
  • Dream Payments unveils its point of sale solution for First Data’s Clover merchants.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Emirates NBD Enlists Efigence for UX/UI Makeover

When we first met efigence back at FinovateEurope 2013, the Polish customer experience designer for financial services companies was sharing the stage with Bank 3.0 innovator mBank. A year later, efigence was back on stage, this time arm–in-arm with SME-banking specialist, Idea Bank.

You get the feeling that efigence has a way with banks.

The latest bank to partner with the company is Emirates NBD, which announced this week that efigence helped the leading Middle Eastern banking group build a new interface and enhanced user experience for its bankingplatform. In addition providing a new graphical user interface (GUI) and improving the platform’s information architecture, the new solution will enable customers to personalize their online experience, manage finances from a “smart insights” equipped dashboard, and use video banking and chat via FaceBanking to talk with a bank advisor. Suvo Sarkar, SVP and Group Head of Retail Banking and Wealth Management at Emirats NBD said the new technology “brings Emirates NBD’s clients to the future of banking.”

“Making use of our broad experience, together with the client’s team, we created a completely new innovative digital banking experience,”Andrzej Szewczyk, VP and MD of Efigence, added. “(This) means that Emirates NBD leaves the competition in its wake. Szewczyk referred to the partnership as “re-invent(ing) digital banking from scratch.”

Founded in 1999 and headquartered in Warsaw, Poland, Efigence most recently demonstrated its Efi4 Digital Banking platform at FinovateEurope 2017. The company’s platform includes a tailor-made interface and experience for users, as well as forecasting, payments, and transactions automation modules. With Efi4, Efigence provides a digital banking solution that marries off-the-shelf technology with UI and UX customized for each financial institution. This enables the company’s technology to provide banks with fast implementation, while retaining the look and familiarity of the bank’s brand.

Finovate Alumni News

On Finovate.com

  • Roostify Celebrates Growth, Role of External Developers on its Platform.
  • Emirates NBD Enlists Efigence for UX/UI Makeover.

Around the web

  • Icon Solutions initiates functional testing between the Instant Payments Framework and EBA Clearing’s RT1 platform.
  • Infosys to acquire product design and CX specialist, Brilliant Basics.
  • TechCrunch: Coinbase to provide support for Bitcoin Bash in 2018.
  • RealtyMogul.com celebrates the first anniversary of the first crowdfunded REIT, MogulREIT 1.
  • AutoGravity announces reaching 500,000 download milestone for its app.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

FinovateEurope Sneak Peek: Efigence

efigence_homepage_january2017

FE2017-V2-wdateA look at the companies demoing live at FinovateEurope on the 7 and 8 of February 2017 in London. Pick up your tickets today and save your spot.

Efigence is a technology company specializing in designing customer experience and implementing innovative technologies for banks and financial services.

Features

  • Efi4: a robust, nimble, and versatile digital banking platform
  • Tailored UX for unique look-and-feel
  • New generation PFM with a smart-support forecasting tool

Why it’s great
Efi4 is a seamless digital banking experience to guide retail banking customers through the complexity of the banking world using a three-screen environment.


efigence_pawel_haltof4Presenters

Pawel Haltof, Innovation Director & Board Member
Haltof is consultant, strategist, and co-creator of the most innovative design concepts awarded many times by the most important international bodies. He has 10+ years of experience in cooperation with banks.
LinkedIn

 

efigence_hubert_czerski3

Hubert Czerski, Head of Project Management and Analysis
An experienced manager focused on implementing innovation in banks, Czerski has a proven track record in cooperation with banks in EMEA region.
LinkedIn

 

Finovate Alumni News

On Finovate.com

  • Finovate Debuts: Moonraft Innovation Labs

Around the web

  • Huron Community Bank of Michigan to leverage Insuritas to launch insurance agency.
  • Experian partners with reporting and analytics platform dv01 to enable dv01 clients to access to richer borrower credit attributes.
  • FIS teams with Verifone to enable consumers to pay at the point of sale using loyalty points linked to a credit or debit card.
  • Business Insider names Gusto, App Annie, and BlueVine as 3 startups to bet your career on in 2017.
  • Token announces strategic partnership with VirtusaPolaris.
  • TransferTo to provide bridge linking between EcoCash and Mama Money mobile money services.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.