PayPal Goes to China; Dubai Named Top Ten Global Financial Center

Join us next week as our annual Asia-Pacific fintech conference returns to Singapore! FinovateAsia is one of the best ways for fintech startups and innovative industry veterans from the region and around the world to showcase their latest technologies before an audience of C-level decision-makers, venture capitalists, all-star analysts, and more.

FinovateAsia runs from October 14 through October 15, with an additional Summit Day on October 16. Visit our registration page and pick up your ticket today.

Sub-Saharan Africa

  • Finovate alums Hydrogen, Sedicii, Strands, and Wealth Migrate earn finalist spots in the South African Reserve Bank’s Fintech Demo Day.
  • Carbon CEO Chijioke Dozie offers Five Lessons Global Banks Can Learn from African Fintechs.
  • Business Tech highlights 12 of the hottest fintechs in South Africa according to the country’s biggest banks.

Central and Eastern Europe

  • Alior Bank’s Alior Kantor to deploy Efigence’s EFI4 Digital Banking Platform.
  • Deloitte Romania and FintechOS partner to offer banks digital transformation and automation solutions.
  • Sberbank unveils new “Apply for Mortgage” feature on its Sberbank Online mobile app.

Middle East and Northern Africa

  • Dubai earns top ten ranking in the Global Financial Centres Index (GFCI).
  • Boubyan Bank of Kuwait and Zain Telecom team up to launch a digital Islamic bank.
  • Saudi Capital Market Authority (CMA) authorizes financial technology experimental permits enabling three companies to build an equity crowdfunding platform.

Central and Southern Asia

  • Khatabook, an Indian fintech that helps SMEs track and record businesses transactions, raises $25 million.
  • Varanium Capital launches $28 million venture fund focused on Indian fintech.
  • Indian fintechs await regulatory guidelines for deployment of Video KYC technology.

Latin America and the Caribbean

  • OurCrowd to open its 13th global office in São Paulo, Brazil.
  • Colombian small business lender Sempli raises $8 million in Series A funding.
  • EBANX will process payments for Uber in Brazil and other countries in Latin America.

Asia-Pacific

  • PayPal’s Move into China is a Big Deal.
  • Fintech in Asia: From Payments and Lending to the Challenge of Financial Inclusion.
  • InComm partners with Mizuho Bank to expand J-Coin Pay in Japan.

Top image designed by Freepik

Alior Bank’s Alior Kantor to Deploy Efigence’s EFI4 Digital Banking Platform

Digital banking technology provider Efigence is deepening ties with Poland’s Alior Bank through a partnership with Alior Kantor, the bank’s online banking currency exchange brokerage.

Alior Kantor has deployed Efigence’s EFI4, a digital banking platform that combines off-the-shelf technology with a customized user experience for each client. The new user interface was recently introduced in Alior Kantor’s Polish and Romanian markets.

With the new launch, Efigence’s EFI4 fuels a new version of Alior Kantor that helps improve customer interaction with the bank and generate revenue by way of customer acquisition, up-selling, and maintenance. The new platform aims to offer a seamless user experience starting from onboarding, which takes less than five minutes. Accounts come with a multi-currency card with competitive exchange rates, account-to-account and peer-to-peer money transfer capability, weekend currency exchange, and more.

“We are more than happy that this product was implemented in two independent markets – Poland and Romania. It’s undoubtedly the right choice for modern and digital-based financial companies like Alior Bank,” said Marek Lesiak, Efigence President and CTO. “Thanks to this powerful digital banking platform the currency exchange has never been so smooth and easy. Moreover Alior Kantor, based on EFI4, is fully compliant with PSD2 and offers facilities for third party providers.”

Today’s news comes two years after Efigence began working with Alior Bank in the Romanian market and more than a decade after Efigence first began working with Alior. The digital banking technology provider’s other clients include Idea Bank, mBank, Nordea, Kontomierz, and Emirates NBD.

Efigence, which most recently demoed at FinovateEurope 2018, took home Best of Show honors for its demo with mBank in 2013. Efigence was founded in 1995 and is headquartered in Poland.

Finovate Alumni News

On Finovate.com

  • Alior Bank’s Alior Kantor to Deploy Efigence’s EFI4 Digital Banking Platform.
  • Fintech in Asia: From Payments and Lending to the Challenge of Financial Inclusion.

Around the web

  • Tradeshift partners with Monerium to enable Nordic Store to purchase goods from IKEA using programmable digital cash.
  • Lighter Capital appoints Thor Culverhouse new CEO.
  • OurCrowd to open its 13th global office in São Paulo, Brazil.
  • Jack Henry appoints Ted Bilke as new CTO and promotes Greg Adelson to new Chief Operating Officer position.
  • Deloitte Romania and FintechOS partner to offer banks digital transformation and automation solutions.
  • Finastra launches Fusion Mortgagebot Data Insights, a tool to benchmark mortgage borrower information for banks and credit unions against other Fusion MortgagebotPOS users.
  • InComm adds Giant Eagle to its Healthcare OTC Network.
  • Westcon-Comstor to distribute Check Point Software.

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 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.

Latin America and the Caribbean

  • Brazilian card processor Conductor to deploy 3D Secure authentication technology from TAS Group later this fall.
  • Distributed check capture specialist Panini and technology distributor J. Fleischman team up to bring check truncation to Paraguay.
  • Visa introduces loyalty program available to issuing banks in Latin America and the Caribbean.

Asia-Pacific

  • TransferWise opens office in Hong Kong as part of expansion into Asia.
  • AsiaCollect, a credit management services provider based in Singapore, raises $4.5 million in funding.
  • Foreign exchange and international payments company, Frontierpay, opens Asian headquarters in Singapore.

Sub-Saharan Africa

  • South African fintech walletdoc partners with EasyPay to make it easier for consumer to pay monthly subscriptions and utilities.
  • Western Union opens office in Ivory Coast.
  • Nigeria’s Bureau of Public Procurement introduces eGovernment Procurement System.

Central and Eastern Europe

  • Albania’s Raiffeisen Bank Shqipëri partners with NF Innova to deploy digital self-service kiosks.
  • Efigence provides UI/UX design, development and implementation for new investment platform from Polish home equities broker, CDM Pekao.
  • Russian SME crowdfunding platform SimplyFi partners with Tochka Bank to offer direct lending to the bank’s business customers.
  • Sberbank introduces support for Google Pay.
  • Western Union partners with Russia’s Post Bank, enabling money transfers via Post Bank’s mobile app.

Middle East and Northern Africa

  • Kuwait Finance House (KFH) to use VISA’s token service for its mobile wallet.
  • Saudi Arabia-based Maalem Financing to deploy Islamic core banking technology from Path Solutions.
  • Turkish government launches fintech task force to improve fintech ecosystem locally.

Central and South Asia

  • The Economic Times looks at the role of bankers in India’s “coming fintech revolution.”
  • RBS India, the innovation hub of the Royal Bank of Scotland, to launch forum on disability inclusion.
  • PaySend joins Astana International Finance Centre (AIFC), a central Asian fintech hub based in Kazakhstan.

Top image designed by Freepik

Finovate Alumni News

On Finovate.com

  • Aixigo Relaunches Digital Portfolio Management System.
  • BeSmartee and LoanFuel Help Make Mortgage Lending Mobile.

Around the web

  • Albania’s Raiffeisen Bank Shqipëri partners with NF Innova to deploy digital self-service kiosks.
  • TransferWise opens office in Hong Kong as part of expansion into Asia.
  • Equifax teams up with digital consent management platform Consents Online to support open banking.
  • Nomis Solutions picks Melbourne as site of new regional headquarters.
  • Efigence provides UI/UX design, development and implementation for new investment platform from Polish home equities broker, CDM Pekao.
  • Braintri discusses the commercialization of its contactless payment technology, Jiffee, at SelectUSA Investment Summit 2018.

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

  • Additiv Partners with Orange Business to Bring Digital Wealth Management to FIs.
  • Zopa’s Record Lending Figures Suggest a Healthy U.K. P2P Lending Sector.

Around the web

  • Iraq’s Banque Liban-Francaise completes upgrade to Temenos’ T24 core banking system.
  • P2P lender Zopa announces 40% revenue growth and a return to profitability.
  • Ohpen signs LeasePlan Bank as its latest customer.
  • Efigence implements technological side of Alior Bank open banking project.
  • Open Bank Project collaborates with Citizens Bank hackathon.
  • The World Economic Forum names Neener Analytics as a Technology for Integrity 2018.
  • YellowDog wins Business Innovation Award at inaugural Best New Business Awards.
  • Finicity forges data sharing agreement with USAA.
  • MapD debuts MapD 4.0 for interactive location intelligence at scale.

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 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