Finn AI Powers Chatbots in South Africa; Token Drives Open Banking in MENA

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.

Asia-Pacific

  • 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.

Sub-Saharan Africa

  • 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.

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Finovate Alumni News

On Finovate.com

  • Finn AI Brings Conversational Banking to South Africa’s TymeBank.

Around the web

  • Salt Edge unveils new version of API with a consent management system and UX enhancements.
  • MOXY bank selects NYMBUSSmartCore platform.
  • InComm and WH Smith launch in-store and online hubs for game cards in the U.K.
  • STOblock interviews Bitbond Founder and CEO Radoslav Albrecht.
  • India’s Federal Bank turns to Ripple to power cross-border remittances.
  • Khaleeji Commercial Bank of Bahrain partners with Token.io.
  • Finastra hires Sharon Doherty as its new Chief People Officer.
  • Equifax collaborates with Wolters Kluwer to offer Current Expected Credit Losses (CECL) solution.
  • Raiffeisen Bank Serbia picks Asseco SEE as its strategic vendor.
  • NF Innova to power “Customer-First” experience for APS Bank.

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.

Asseco SEE Joins NISP to Support PSD2 Implementation

Banking technology vendor Asseco South Eastern Europe (Asseco SEE) has joined the NextGenPSD2 Implementation Support Programme (NISP), which supports banks and interbank processors throughout Europe in implementing the Berlin Group NextGenPSD2 Framework, reports Tanya Andreasyan of Fintech Futures (Finovate’s sister publication).

With this move, Asseco SEE aims to deliver assistance to banks regarding implementation and achieving compliance with all relevant requirements of the revised Payment Services Directive (PSD2).

Asseco SEE described the Berlin Group as “a widely respected, pan-European payments interoperability standards and harmonization initiative”. Its NISP initiative was formed with “a goal to help implementers achieve fallback exemption and reduce interoperability issues,” the vendor added.

It now has over 20 member organisations, with Asseco SEE being the first vendor to join. “Having Asseco SEE as a solution vendor and NISP member will significantly contribute to the diversity and bring added value to the support we can provide to help resolve any interoperability issues,” stated Dr. Ortwin Scheja, project lead of NISP.

Predrag Popović, Asseco SEE’s group product director, said the membership is a “great honor” for the company.

“With our know-how incorporated in the PSD2 Enabler solution, which fits the Berlin Group NextGenPSD2 Framework and enables full PSD2 compliance out-of-the-box, we are sure our participation will be of immense assistance to all NISP members enabling them to optimize their implementations, deliver maximum quality and have their questions answered,” he said.

The Asseco SEE Group is one of the biggest IT companies that develops and implements its own software solutions and services across South Eastern Europe and Turkey. It employs over 1,550 people and operates in 13 countries, covering a market of 176 million people and eight languages. The company’s offerings serve a number of industry verticals, including financial services, payments, public administration and telecoms.

Among its subsidiaries are Eastern European paytech firm Payten and Portuguese core banking software vendor Exictos (now known as Asseco PST).

Listed on the Warsaw Stock Exchange, Asseco SEE shared the Finovate stage with Telenor banka at FinovateEurope 2015. The first fully mobile online bank in the SEE region, Telenor banka demonstrated its mobile device loan offering powered by Asseco SEE’s ASEBA Multichannel Hub.

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.

Central and Eastern Europe

  • Central Banking’s FinTech & RegTech Global Awards names the Bank of Lithuania as the winner of its Catalyst Award.
  • Halyk Bank Georgia implements new omnichannel system from Asseco geared toward retail clients.
  • Global Finance sits down for a conversation with Tinkoff Bank VP Maxim Evdokimov.
  • Sberbank partners with 500 Startups to launch Russian fintech accelerator.

Middle East and Northern Africa

  • Abu Dhabi Global Market (ADGM) introduces funding rules for private financing platforms (PFPs).
  • Bank Al-Tamweel Wa Al-Inma (BTI Bank) in Morocco to deploy Path Solutions’ iMAL core banking system.
  • IT Web Africa looks at the technological and operational challenges of banking for the underbanked in North Africa.

Central and South Asia

  • Indian digital lending startup Kissht closes $30 million Series C.
  • Fintech Valley Vizag of India partners with Bizofit to launch $1 million startup challenge.
  • India Post Payments Bank to deploy payments technology from Financial Software and Systems.

Latin America and the Caribbean

  • PayPal’s Xoom partners with OXXO to add more than 17,000 new cash pickup locations in Mexico.
  • Argentina’s digital bank Wilobank picks Spanish technology provider Indra as implementation partner.
  • Forbes profiles Brazilian fintech Neon.

Asia-Pacific

  • UnionPay introduces cross-border mobile payments service in Hong Kong, Macau.
  • Thailand’s Bank of Ayudhya chooses NICE Actimize to transform its AML compliance capabilities.
  • Blockchain patent activity picks up in China.

Sub-Saharan Africa

  • South African payments startup Yoco picks up $16 million in funding.
  • Nigeria’s Paga raises $10 million in round led by Global Investment Fund (GIF).
  • Development finance company Financial Sector Deepening Africa estimates fintech’s contribution to Africa’s GDP at $150 billion by 2022.

Top image designed by Freepik

FinovateFall Sneak Peek: Asseco Poland

A look at the companies demoing live at FinovateFall on September 11 through 14 in New York. Pick up your tickets today and save your spot.

Asseco Poland, the largest Polish IT company with 25 years of experience in developing technologically advanced software, is introducing the Asseco Advisory Banking Platform.

Features

  • Branch onboarding automation using an intelligent queueing system
  • Insight into customer data prior to their branch visit
  • Paperless service in an omni-channel architecture

Why it’s great
Asseco Advisory Banking Platform – adapting branches for mobile and internet reality.

Presenter

Marcin Kwilosz, Product Manager
Kwilosz has worked in the banking sector for 10 years. During this time, he implemented digital transformation projects. At Asseco, Kwilosz is responsible for strategy and development of the Advisory Banking Platform.
LinkedIn

Finovate Alumni News

On Finovate.com

  • Klarna Celebrates Year-Over-Year Sales, Profit Gains.

Around the web

  • Fox Business highlights BILLSHARK in feature on “low-effort” savings strategies. See BILLSHARK at FinovateFall in New York next month.
  • Cardlytics to enable the new mobile rewards strategy from SunTrust.
  • Asseco signs four-year agreement to provide support for the electronic bookkeeping system for Poland’s Ministry of Justice. Join Asseco next month in New York for FinovateFall.
  • Zighra Receives Patent for Proprietary AI-Powered Continuous Authentication Platform.

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.

Finovate Alumni News

On Finovate.com

  • Klarna Raises $35 Million in ‘First Small Step” into Debt Financing
  • D3 Banking Brings in $10 Million from West Partners
  • LendingTree Launches CRA-Eligibility Tool
  • Encap Security Acquired by Client, AllClear ID
  • Avoka Locks in $12 Million in New Investment

Around the web

  • Banco CTT goes live with customer onboarding solution developed by Novabase.
  • Canada’s ATB Financial and Germany’s ReiseBank use Ripple to complete world’s first banking transfer using blockchain.
  • Wired UK profiles Fidor, “the fintech bank run by its customers.”
  • Asseco South Eastern Europe (SEE) named a Representative Vendor in Gartner’s report on open unified digital banking platforms.
  • Fortune.com’s list of the five hottest companies in fintech features alums Kensho and Ripple.
  • Kasasa’s MoneyIsland money-management game for children ranks among iTunes’ most popular apps.
  • Chip-Chap bitcoin marketplace leverages SafetyPay as a payment method.
  • OnDeck launches Accountant Advisor Program to help accountants arrange financing for their small business clients.

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: Asseco

AssecoHomepage

FEULogowithDate A look at the companies demoing live to 1,500 fintech professionals. Register today.

 

Asseco is the fastest growing of the top-10 software vendors in Europe, specializing in advanced software solutions for banks and other financial institutions.

Features

  • Innovative mini-applications concept: flexibility and customization for a great user experience
  • Versatile and multidimensional omnichannel architecture
  • Single solution that runs on multiple devices

Why it’s great
Asseco Customer Banking Platform is a unique solution that integrates the functionality of internet and mobile banking based on an innovative mini-applications concept.AssecoPresenter1

Presenters

Artur Wiza, Managing Director Corporate Communication
Wiza is an experienced sales and marketing executive with a strong track record within the banking and IT industry.
LinkedInAssecoPresenter2

Tomasz Leś, Senior Product Manager
Leś serves as senior product manager of internet and mobile banking for retail and corporate customers. He has experience in designing and developing products for banks.
LinkedIn

AssecoPresenter3Pola Wiza, student
Wiza is a student and heavy user of social and mobile apps.

Finovate Alumni News

On Finovate.com

  • Taulia Announces Record New Bookings; New CMO Holzapfel”
  • MX Recruits Don MacDonald, Former Intel and Fiserv CMO”

Around the web

  • Cachet Financial Solutions deploys its Select Mobile Deposit solution for Kentucky-based Whitaker Bank Corporation.
  • UBS hires Markit to manage its Investment Bank’s investible indices.
  • The Hindu quotes Cloud Lending Solutions’ CEO and co-founder Snehal Fulzele on digital transformation.
  • Personal Capital launches Financial Fitness program for employers to help employees reach their wealth goals.
  • Zopa wins Personal Loan Provider of the Year at the Consumer Moneyfacts Awards 2016.
  • Bank Innovation features video of Ripple CEO Chris Larsen discussing the internet of value at Davos.
  • CB&S Bank selects Insuritas to power its insurance-agency solution for customers.

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

 

Finovate Alumni News

On Finovate.com

Around the web

  • Wallaby Financial partners with NXT-ID to bring Wocket Smart Wallet to Wallaby customers.
  • Asseco SEE teams up with UniCredit CEE to launch its fully native new generation tablet banking solution in six Eastern European countries.
  • Nomis Solutions taps Michael DeGusta as vice president and chief architect.
  • Service Credit Union offers mobile banking services with Touch ID, courtesy of pilot program run by Digital Insight.
  • Financeit partners with eOriginal Inc., bringing eSignature technology to Financeit customers.
  • Studio Movie Grill launches digital gift cards powered by CashStar.
  • Banking Exchange column on real-time payments in the U.S. features FIS, Dwolla, and Ripple.
  • Zopa to help provide financing for Uber drivers looking to buy their cars, rather than rent them.
  • American Banker features LendKey. Check them out at FinovateSpring next week in San Jose.
  • American Banker reports that partnerships fuel Lending Club’s unexpectedly fast growth.
  • BizEquity launches new ‘Adviser Office’ service.
  • Pepperi partners with Xero to extend cloud accounting with mobile sales automation.

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.