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.
Sub-Saharan Africa
- Nigerian online accounting services specialist Accounteer announces plans to open new office in Nairobi, Kenya.
- First Bank of Nigeria awards more than $14,000 in cash prizes to winners of its hackathon competition.
- Absa Group of South Africa adds new functionality to its mobile app.
Central and Eastern Europe
- Tinkoff Bank launches Tinkoff Junior mobile app for children and teenagers.
- Sberbank unveils its new Payment Schedules solution, enabling users to configure the interface of Sberbank Business Online into an event feed format.
- Top ten Ukrainian bank, First Ukrainian International Bank (FUIB) to offer banking services via messaging apps Viber and Telegram – with Facebook Messenger to be added by the end of the year.
- Emerging Europe features Lithuania as “China’s fintech gateway to Europe.”
- Polish vendor finance specialist LeaseLink joins loan syndication platform, Mintos.
Middle East and Northern Africa
- The UAE’s Anglo-Gulf Trade Bank, a digitally-enabled trade bank, is announced, with operations to begin in early 2019.
- TradeArabia looks at how fintech can help enhance trade in the Middle East.
- Bahrain Fintech Bay launches Global Islamic & Sustainable Fintech Center (GISFC).
Central and South Asia
- Bengaluru-based ClearTax India raises $54.6 million ($4 billion INR) in new funding.
- Tez Financial Services, Pakistan’s first fully digital non-bank microfinance company, announces picking up $1.1 million in seed funding in a round led by Omidyar Network.
- India’s Utkarsh Small Finance Bank (USFB) goes live with UP Retail Payments from ACI Worldwide.
Latin America and the Caribbean
- PayStand expands operations to Mexico, forms regional partnership with StartupGDL.
- Fidor and GFT extend partnership to the Americas markets.
- Argentine fintech Ualá picks up $34 million investment from Goldman Sachs.
Asia-Pacific
- Hong Kong-based mobile current account solution for the underbanked, Neat, raises $3 million in funding.
- Accenture partners with Siam Commercial Bank’s fintech subsidiary, Digital Ventures, to co-launch blockchain trade solution. See Siam Commercial Bank at FinovateAsia in Hong Kong next week.
- Indonesia’s OnlinePajak, a tax app provider, announced a $25 million investment in a round led by Warburg Pincus.
- Fintech Futures takes a look at the “fintech battle” between China and the West.