Finovate Global is our weekly look at fintech innovation in developing economies in Asia, Africa, the Middle East, Latin America, and Central and Eastern Europe.
Central and Eastern Europe
- NF Innova to power “Customer-First” experience for APS Bank.
- Tinkoff Group of Russia builds supercomputer dubbed the most powerful in financial sector.
- Raiffeisen Bank Serbia picks Asseco SEE as its strategic vendor.
Middle East and Northern Africa
- Khaleeji Commercial Bank of Bahrain partners with Token.io.
- AI chatbot maker Kasisto and UAE-based digital bank Liv partner to launch new conversational chatbot, Olivia.
- Smart Dubai gives the nod to blockchain platform developed by Du, formerly known as the Emirates Integrated Telecommunications Company.
Central and South Asia
- Indian point-of-sale terminal developer Mswipe raised $30 million in new funding.
- Fintech startups are among those looking for capital from the new $20 million fund launched by China’s Gobi Partners and Pakistan’s Fatima Ventures.
- India’s Federal Bank turns to Ripple to power cross-border remittances.
Latin America and the Caribbean
- The Paypers interviews allpago Founder and CEO, Philipp Bock, on ecommerce in Latin America.
- HSBC Uruguay announces partnership with Spanish biometric authentication firm, FacePhi.
- Latin American payments processor EBANX initiates local operations in Brazil.
- Hong Kong-based SME lender Qupital raises $15 million to fuel expansion to mainland China.
- Krungthai Bank, EVX Holdings, and Shwe Rural and Urban Development Bank agree to launch the first blockchain-powered, cross- border money transfer service between Thailand and Myanmar.
- UnionBank of the Philippines introduces the first cryptocurrency ATM in the country.
- Finn AI Brings Conversational Banking to South Africa’s TymeBank.
- Korepay helps Nigerian migrant workers in 12 U.S. states send money back home.
- Xente, a fintech that enables Ugandan merchants to offer pay by installment, announces expansion to Nigeria.