Finovate Alumni News

On Finovate.com

  • SpyCloud Scores $21 Million in Round Led by Microsoft’s M12.
  • Temenos Partners with Saudi Arabia’s Al Rajhi Bank.
  • Tymebank Goes Live with Core Banking Tech from Mambu.

Around the web

  • NICE Actimize partners with crypto finance company Circle to deploy its market surveillance technology.
  • Silvergate Bank to deploy Finastra’s Total Payments, leveraging the API-enabled solution to support payment processing.
  • Leading Vietnam-based consumer finance firm, FE Credit, chooses Vymo’s AI-powered personal sales assistant.
  • Bambu and CredoLab earn spots on Fintech News Singapore’s 29 Hottest Fintechs in Singapore 2019 roster.
  • GreatHorn announces capability to detect credential theft involving Microsoft Office 365 and Google G Suite.
  • Identitii joins the Banking Industry Architecture Network (BAIN).

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: Braintri Wins App Prize; Featurespace in Singapore

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

  • Austrian division of private banking and asset management group, LGT, partners with Avaloq.
  • Bank of Lithuania announces updates to its position on virtual assets and ICOs.
  • IKO, the mobile app co-developed by Braintri for PKO Bank Polski, wins first place in worldwide ranking of mobile apps published by British Retail Banker International for second consecutive year.

Middle East and Northern Africa

  • Finastra brings its core banking technology to Saudi Arabia.
  • Cryptocurrency brokerage based in Kuwait, YallaBit, raises $925,000 in Series A.
  • Arabian Gazette highlights Bahrain’s Manama, Saudi Arabia’s Riyadh, as well as both Dubai and Abu Dhabi in the UAE in its look at Four Arabian Gulf Cities Where Fintech is Thriving.

Central and South Asia

  • Temenos acquires Bangalore-based big data and analytics firm, hTrunk.
  • National Bank of Pakistan introduces its first contactless debit card.
  • Anirban Mukherjee appointed CEO of PayU India.
  • QR code-based payment app BharatPe raises $17 million in round led by Sequoia Capital India.
  • Pan Asia Bank and TerraPay partner to provide instant cross-border payment access to bank accounts in Sri Lanka.
  • Halyk Bank teams up with Fiserv to centralize its cash management process.

Latin America and the Caribbean

  • Digital challenger bank C6 goes live in Sao Paulo, Brazil.
  • Mexico looks at the possibility of forming a digital payments system, run by the central bank, to help make financial services more accessible for the underbanked.
  • PYMNTS.com features Argentine digital challenger bank, Wilobank.

Asia-Pacific

  • Ping An’s fintech subsidiary OneConnect sets up shop in Indonesia.
  • Hong Kong Exchange acquires minority stake in Shenzhen-based fintech.
  • Featurespace goes live in Singapore.

Sub-Saharan Africa

  • South African digital lender Payabill announces equity stake investment from Johannesburg-based business challenger bank, Sasfin.
  • Kenyan Capital Markets Authority Chief Executive Paul Muthaura speaks about the need for a “conducive environment” for fintech innovation in the country.
  • Nigerian Lagos state government to launch e-procurement platform within the next three weeks.

Top image designed by Freepik

Finastra Brings its Core Banking Technology to Saudi Arabia

Saudi Arabia’s Agricultural Development Fund has chosen Finastra’s core banking solution, Fusion Essence, for its lending services, reports Antony Peyton of Fintech Futures (Finovate’s sister publication).

The governmental credit institution will use the platform – “traditionally used by banks for retail” – to provide its customers with new services and shorter loan approval times.

Muneer bin Fahad Al-Sahli, general director for Agricultural Development Fund, explains: “It’s crucial for us to offer our clients – farmers and other players in the agricultural space – a seamless digital experience which enables them with their endeavors. With Fusion Essence, we will be able to increase automation through our loan portal, which will lead to reduced timeframes for loan approvals and improved operational efficiencies.”

The fund is specialized in financing various fields of agricultural activity in Saudi Arabia, to develop the sector and increase its productive efficiency.

Its services allow farmers to obtain Shari’ah compliant loans for agricultural machinery and equipment.

The new system is part of the “information technology initiative”, one of the fund’s ten transformation programs, which seeks to achieve the fund’s objectives in line with the Kingdom’s vision for the future.

The fund, which has until now used a legacy system (an “in-house developed system”), aims to go live with the solution within the next year. The system will also enhance the credit risk management practice in the fund.

Back in December 2018, and in another Kingdom, FinTech Futures was at Finastra Universe London 2018– to hear all about the data frontier.

Formed via the merger of D+H and Misys (FinovateEurope 2017) during the summer of 2017, Finastra acquired fellow Finovate alum Malauzai Software in June 2018. The company is headquartered in London, U.K.

Finovate Alumni News

On Finovate

  • UK-based GBG Acquires IDology in $300 Million All-Cash Deal.
  • NetGuardians Teams Up with Swiss Wealthtech Pictet to Fight Fraud.
  • Finastra Brings its Core Banking Technology to Saudi Arabia.

Around the web

  • BBVA unveils first blockchain-supported structured green bond.
  • Strands introduces Engager 2.0, the newest edition of its AI and machine learning powered financial insights generator.
  • Avaloq’s banking suite goes live with the Austrian division of international private banking and asset management group, LGT.
  • IKO, the mobile app co-developed by Braintri for PKO Bank Polski, wins first place in worldwide ranking of mobile apps published by British Retail Banker International for second consecutive year.
  • Baker Hill earns nomination for The Best Tech in Indiana in TechPoint’s 20th annual Mira Awards.
  • CardFlight’s SwipeSimple now enables more than 50,000 merchants across all 50 states of the U.S.

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

  • Thoma Bravo to Acquire Ellie Mae in $3.7 Billion Deal.
  • Welcome to Day Four of FinovateEurope.

Around the web

  • ACH Alert unveils its latest Payment Data Xchange (PDX) service module within its flagship Fraud Prevention HQ platform.
  • Fidor Bank launches chatbot powered by Best of Show winner, Finn AI.
  • Paysend to offer money transfers to bank accounts in 34 European countries.
  • Zopa introduces new chairman Gordon McCallum, who will take over from co-founder Giles Andrew.
  • Kentucky-based Forcht Bank partners with Fiserv to upgrade its credit card program.
  • Finastra appoints Siobhan Byron as SVP and Head of Technology Enabled Managed Services (TEMS).
  • Aire inks reseller agreement with Experian.

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

  • Finding Fintech’s Future in Emerging Europe.
  • Vymo Joins Bangkok Bank Accelerator Program.

Around the web

  • Temenos forges strategic collaboration with Bloomberg.
  • Optimove unveils Streams, a new solution to help measure the impact of marketing campaigns.
  • Entersekt adds digital identity and business development expert, Jennifer Singh.
  • Former head of trade and supply chain finance at Finastra David Hennah joins iGTB.

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.

Asia-Pacific

  • Singapore-based InstaReM announces new multi-currency feature to make overseas payments easier for SMEs.
  • Myanmar’s biggest privately-owned bank, Kanbawza (KBZ) Bank picks Finastra’s treasury management solution, Fusion Treasury.
  • Government ministries in South Korea partner for joint blockchain project to improve marine logistics and shipping.

Sub-Saharan Africa

  • Mastercard Foundation Fund for Rural Prosperity (FRP) invests $2.9 million three companies from Burundi, Malawi, and Uganda to support financial inclusion.
  • Nigerian Stock Exchange extends partnership with Nasdaq to continue using its matching engine technology.
  • Kenya’s Capital Markets Authority releases its “FinTech Sandbox Guidance Note” with an initial focus on robo advisors and blockchain technology.

Central and Eastern Europe

  • Intelligent CIO looks at the merger of Polish fintechs, Braintri and iCompass.
  • Mastercard partners with Polish Payment Standard to provide contactless payments.
  • New report from Deloitte and ID Finance analyzes the growth of Russia’s private fintech sector.

Middle East and Northern Africa

  • Iraq’s Hammurabi Commercial Bank to deploy ICS Banks Universal Banking Software Suite.
  • Ripple and UAE Exchange team up to launch blockchain-powered cross-border remittance payment services in Asia in early 2019.
  • Egypt’s Commercial International Bank introduces nation’s first fintech-focused venture capital fund.
  • Clinc Brings Conversational AI to Turkey’s Isbank.

Central and South Asia

  • Obopay teams up with Federal Bank and Mastercard to offer new pre-payment card in India.
  • Indian digital payments firm ePayLater teams up with Cashfree to bring its credit-based payment option to merchants.
  • YourStory features Pune-based fintech startup, Phi Commerce.

Latin America and the Caribbean

  • Brazilian lender Creditoo announces $1.2 million in new funding.
  • IDB, Finnovista report notes that four out of ten Peruvian fintechs has a female founder.
  • Costa Rica unveils new virtual currency, Ecolones, to encourage recycling.

Top image designed by Freepik

Finovate Alumni News

On Finovate.com

  • OnDeck Expands to Equipment Financing.

Around the web

  • Australia’s Volt Bank goes live with Temenos digital banking platform.
  • Finastra taps Eric Duffaut as President and Global Head of Operations.
  • BlueRush reports record level of business activity in its fiscal 2019 Q1 report.
  • Sezzle earns a spot on American Inno’s list of the Top Minnesota Startups Fundings of 2018.
  • Coinbase adds four Ethereum tokens – Dai (DAI), Golem (GNT), Maker (MKR), and Zilliqa (ZIL) to its Coinbase Pro 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

  • Expensify Celebrates Profitability, Cash Flow Positivity at Year’s End.
  • Quantum-Safe Security Specialist ISARA Raises $10 Million.

Around the web

  • Tradeshift acquires cloud integration technology innovator, Babelway.
  • Myanmar’s biggest privately-owned bank, Kanbawza (KBZ) Bank picks Finastra’s treasury management solution, Fusion Treasury.
  • Temenos secures core banking deal with Israel’s largest credit card company, Isracard.
  • Onfido reports sales growth of 342% in 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 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

  • Brazil’s Nubank announces debit options for its digital savings account.
  • Infocorp spinoff Bankingly raises $5.25 million in Series A funding in round led by Elevar Equity.
  • Vocalink to modernize Peru’s electronic payments infrastructure courtesy of new deal with the company’s automated clearinghouse, Cámara de Compensación Electrónica (CCE).

Asia-Pacific

  • UNPay expands QR code payments.
  • Indonesian lending and payments firm, Pohon Dana, picks up investment from Mayapada Group.
  • PaySend launches transfers to bank accounts and Napas cards in Vietnam.
  • Fenergo wins Fintech Exporter of the Year award from Asia Matters.
  • Juvo expands across Asia with regional headquarters in Singapore.

Sub-Saharan Africa

  • Experian purchases South African credit information and analytics firm Compuscan for $263 million.
  • Ecobank partners with MFS Africa to offer cross-platform digital payments to customers.
  • Emergent Technology acquires Ghana-based Interpay Africa.

Central and Eastern Europe

  • Sberbank offers clients new strategies for investment life insurance.
  • Finastra opens new offices in Romania.
  • Backbase powers omni-channel digital services for Poland’s BGŻ BNP Paribas bank.
  • International Bank of Azerbaijan (IBA) to deploy technology from FICO to fight money laundering.

Middle East and Northern Africa

  • UAE and Saudi Arabia launch blockchain-powered, cross-border payments proof of concept.
  • Temenos announces partnership with Tunisia’s Banque de l’Habitat.
  • Token brings open banking to MENA region.

Central and South Asia

  • James Finance, Ocrolus, Hydrogen, and iProov shortlisted for India FinTech Awards 2018.
  • Currencies Direct taps Ripple’s xCurrent for real-time remittances to India.
  • Fintech News Singapore features BankBazaar in its round up of 10 Hot Fintech Startups from India to Watch Closely.

Top image designed by Freepik