PayPal in Argentina; Temenos Backs African Challenger Bank

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.

Latin America and the Caribbean

  • PayPal invests $750 million in Argentina-based e-commerce company MercadoLibre.
  • First Data to acquire Brazilian electronic funds transfer (EFT) solution provider Software Express.
  • NCR, Bluefin, and Powertranz team up to support POS card processing for Caribbean quick serve restaurants.
  • BlueRush deploys its Individeo platform with a large Colombian bank courtesy of a partnership with Bee Concept.
  • The Wall Street Journal looks at how global FIs are gaining interest in the Latin American alternative lending market.

Asia-Pacific

  • Experian launches Singapore-based incubator, Experian X Labs.
  • South Korean crypto company Kakao raises $90 million via private coin offering.
  • Thai Stock Exchange to launch a digital asset exchange next year.

Sub-Saharan Africa

  • Front office and core banking technology from Temenos to drive digital revamp for African challenger bank, Vista Bank.
  • Financial Software and Systems takes 46% stake in South Africa’s Ecentric Payment Systems.
  • South Africa’s second largest retail bank, Capitec, extends its partnership with ACI Worldwide.
  • ThreatMetrix teams up with Blue Turtle Technologies to help market its fraud prevention solution to customers in Africa.

Central and Eastern Europe

  • Tinkoff Bank reports 2018 highlights including launch of new mortgage app, a joint P2P money transfer offering with Sberbank, and more than 2.7 million new active credit customers.
  • iSignthis Inks Banking and Payments Deal with Ibanera.
  • Bulgaria-based Software Group scores €18 million loan from Europe Investment Bank.
  • EU Startups features lending platform Inlock its look at 10 Hungarian startups to look out for in 2019.
  • Bulgaria’s Municipal Bank to deploy new core and payments solutions from Oracle.

Middle East and Northern Africa

  • Dubai International Financial Center (DIFC) launches $10 million fund for fintech startups in the MENA region.
  • Commercial Bank of Qatar joins R3.
  • Credit scoring solution provider Creditinfo opens regional hub in Muscat following new strategic partnership with the Central Bank of Oman.

Central and South Asia

  • ArthaYantra wins Fintech of the Year (India) at The Asset Triple A Digital Awards.
  • Africa’s Naspers plans to spend $1 billion on investments in Indian fintechs.
  • Standard Chartered’s SC Ventures division to launch digital platform for Indian SMEs.

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  • PayActiv and Visa Help Workers Access Earned Wages Earlier.
  • Temenos Drives Digital Transformation for Africa’s Vista Bank.
  • iSignthis Inks Banking and Payments Deal with Ibanera.

Around the web

  • BioCatch adds touchscreen pressure as a new behavioral biometric value.
  • NCR, Bluefin, and Powertranz team up to support POS card processing for Caribbean quick serve restaurants.
  • Experian launches Singapore-based incubator, Experian X Labs.
  • ETFLogic unveils ETFLogic Pages, a new platform for analyzing exchange-traded funds.
  • Minna Technologies and Exate earn spots in the fourth edition of ING’s FinTech Village.
  • BlueRush deploys its Individeo platform with a large Colombian bank courtesy of a partnership with Bee Concept.
  • Inspire Federal Credit Union goes live with NYMBUS.

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.

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  • OnDeck Launches Subsidiary to Help Banks with Small Business Lending.

Around the web

  • Daon partners with Akbank, making the Turkish bank the first in the country to deploy facial recognition technology for mobile banking authentication.
  • YellowDog shortlisted for Tech Company of the Year honors at the 2018 U.K. Business Tech Awards.
  • Bluefin teams up with data security tokenization vendor, TokenEx, to boost payment security.
  • Finicity selected as third-party service provider for Freddie Mac’s automated income and asset assessment solution, Loan Product Advisor.
  • Zenmonics earns a spot in the 2018 IDC FinTech Rankings.
  • FinTech Global recognizes Insuritas as a 2018 InsurTech100 Company.
  • Lendio announces facilitating $1 billion in financing to more than 51,000 U.S. SMEs since inception in 2011.
  • Indonesia’s biggest telecommunications company, Telkomsel, picks Kinetica to support its accelerated analytics, location-based visualization and AI.
  • Blockchain innovator identitii to list on the Australian Securities Exchange this week with anticipated market capitalization of $41 million.
  • Atlanta Business Chronicle interviews Kabbage’s Kathryn Petralia, highlighting her as a 2018 Women Who Mean Business honoree.
  • Sara Berg appointed Chief Operating Officer of Trustly.
  • Expensify launches training and certification program for accountants.
  • Ping Identity launches new Quickstart Private Sandbox for Open Banking and PSD2
  • Openfinance signs data partnership with Refinitiv.
  • Trustly partners with Ingenico for online banking payments.
  • Moneynetint partners with Ripple to leverage instant payment rails.
  • Coinbase expands with new Dublin office.
  • Native American Bank selects Jack Henry’s SilverLake system.

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

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  • SigFig Buys SmartWealth from UBS.

Around the web

  • Compass Plus migrates Brazilian prepaid card issuer, BPP, to its platform.
  • UBS shutters its robo advisor, SmartWealth, selling technology to SigFig.
  • Azimo forges strategic partnership with African payments business, Interswitch Group.
  • BehavioSec unveils its Behavioral Biometrics Platform, which boosts security with invisible, continuous authentication.
  • PayPal’s Xoom partners with Ria Money Transfer to accelerate global expansion in 86 countries.
  • Bluefin and SoftPoint partner for comprehensive PCI-Validated P2PE solution for POS systems.
  • NCR appoints Andre Fernandez as Chief Financial Officer.
  • Kony teams with Payveris to help banks deliver digital money movement services.
  • Cryptoline News: Payfone’s technology now used to prevent SIM swap attacks.

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

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Around the web

  • Dutch fintech Five Degrees purchases core banking IT systems provider, Libra.
  • QuickBridge to participate in Lendio’s turndown lending program.
  • PasswordPing announces new Chief Executive Officer, Michael Greene. See PasswordPing at FinovateFall next month.
  • Identity-as-a-service specialist Onfido forges partnership with Claim Technology.
  • Alphacomm Solutions to deploy ACI Worldwide’s UP eCommerce Payments technology.
  • CurrencyFair acquires Hong Kong-based Convoy Payments.
  • PYMNTS.com interviews Entersekt SVP of engineering, Richard Bailey.
  • Bluefin and payment service provider Anderson Zaks partner to provide Bluefin’s PCI-validated Point-to-Point Encryption (P2PE) security solution to merchants and retailers.

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

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  • Conversation.one Among U.S. Fintechs to Join Finastra’s FusionFabric.cloud Platform.
  • ShopKeep Launches on Android to Broaden Hardware Options.
  • GoodData Launches GoodData Spectrum UI Tools.
  • identitii Forges New Partnership with Robot Automation Specialist Blue Prism.

Around the web

  • Interactions unveils enhanced IVA platform to deliver the omnichannel intelligent virtual assistant capabilities.
  • QuantConnect users now have access to Algorithm Framework, a tool that breaks down algorithmic trading strategies into core modules to make code reusable in the QuantConnect community.
  • Temenos announces launch of its Front Office Suite.
  • Bluefin partners with Paya to provide PCI-validated point-to-point encryption.

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

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  • Onfido to Power Digital ID Verification for Bitstamp.

Around the web

  • eToro adds XLM to cryptocurrency offering for users to buy & sell Stellar Lumens on its platform.
  • Bluefin Payments teams up with Datacap Systems and Monetary to provide encryption to POS 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.

Finovate Alumni News

On Finovate.com

  • Revolut Adds Travel Insurance to its Insurtech Offerings.
  • Going Beyond the Demos this Year
  • Envestnet | Yodlee Unveils Single API Solution to Support PSD2, Open Banking Compliance.
  • Upserve Bolsters Online Ordering Features

Around the web

  • Expensify celebrates 10 years of expense reports.
  • Handelsblatt features Kreditech (article in German).
  • Kinetica and UClick push solutions to South Korea.
  • NCR to power prototype branch for UnionBank of the Philippines
  • Bluefin partners with AvantCom Payments Corporation (APC) to provide PCI-Validated P2PE to Oracle clients.
  • Worldpay expands payment processing into Turkey with iyzico.
  • VietinBank announces migration of debit card transactions to Compass Plus’ TranzWare system.
  • Barbican Insurance Group teams up with FICO to better measure the cybersecurity risk of the insured.
  • Cloud Lending Solutions unveils Xcelerate Software Implementation Program.
  • Panalpina World Transport chooses Tradeshift to support digitization of its procure-to-pay process.
  • Ripple joins sharing economy startup Omni’s $25 million fundraising with an investment of XRP.
  • Overbond wins Most Innovative Third-Party Technology Vendor (Front Office) category at American Financial Technology Awards.

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

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  • Intelligent Environments Appoints New CEO.
  • TransferWise Brings New Multi-Currency, Borderless Accounts with Debit Cards to Public.
  • Dream Payments Integrates with QuickBooks and First Data’s Clover.

Around the web

  • Meniga announced as FStech Awards 2018 finalist for ‘Challenges’ financial fitness.
  • Foundr Magazine interviews Expensify CEO David Barrett.
  • The Asian Review features Financial data and chat startup Symphony Software Foundation.
  • Forbes highlights AutoGravity’s take on lending.
  • Privakey is the latest fintech to join the FIDO Alliance.
  • Bluefin Payment Systems partners with Choice Ticketing to support PCI-validated ticketing payments.

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

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  • Ripple Establishes Infrastructure Innovation Initiative.
  • Southern Bank Leverages PicturePay from Malauzai to Offer Digital Payment Service.

Around the web

  • Credit Karma announces former Renew Financial president Gannesh Bharadhwaj as general manager of credit cards.
  • Payworks extends partnership with Verifone.
  • Bluefin issues first Japanese patent for creating fingerprints for encryption devices.
  • RealtyMogul hires Soley Van Lokeren as its first Chief People Officer.

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.