Finovate Global

Finovate Global: Fintech News from Around the World

By David Penn Posted on
Categories: ACI Worldwide, Evo Snap*, Finovate Global, Infosys

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

  • Singapore unveils new fintech fast track initiative to speed the patent-application-to-grant process for fintechs.
  • Myanmar’s Myawaddy Bank chooses technology from Infosys Finacle to drive its digital transformation.
  • Sri Lanka’s central bank announces plans to establish a fintech regulatory sandbox.

MENA

  • ADGM proposes regulatory framework for digital assets.
  • Dubai International Finance Centre (DIFC) inks MoU to foster innovation in financial services; plans collaboration with Accenture’s FinTech Innovation Labs.
  • Saudi SAMA to develop fintech ecosystem in partnership with Deloitte.

Africa

  • Open Banking Nigeria enters strategic partnership with Open Vector to develop API standards.
  • Beta launch of its Bonga social network platform shows East African telecom giant Safaricom moving beyond its M-Pesa mobile money solution.
  • How We Made It In Africa: African Business Insight spotlights funding trends among African fintech and agribusiness.

LATAM

  • Brazil’s Central Bank issues fintech rules including authorization for P2P lending.
  • Ethereum World News looks at the growing availability of Bitcoin ATMs in Argentina.
  • Bankless Times checks in on the progress of – and provides a prognosis for – Peru’s first mobile money wallet, BIM.
  • BBVA’s Propel Venture Partners invests in Brazilian neo-bank, Neon.

CEE

  • Erste Bank Hungary readies for immediate payments and open banking era with ACI Worldwide.
  • The Bank of Russia looks to blockchain technology for as an alternative to its financial message transferal service, SPFS (“Russia’s SWIFT”).
  • EVO Payments to provide payment acceptance services for merchant customers of leading Czech bank, MONETA.

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Finovate Global: Fintech News from Around the World

By David Penn Posted on
Categories: Finovate Global, Nubank, Temenos

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.

CEE

  • Lithuania to allow entrepreneurs to register and manage startups remotely as Virtual Limited Liability companies (VLLC) using blockchain technology.
  • Latvia considers tax on cryptocurrency transactions.
  • Trend News Agency takes a look at the regulatory challenges to the fintech industry in Azerbaijan.

Asia

  • Indonesia’s first invoicing platform Paper.id makes the case for modernizing financial management in developing countries.
  • Myanmar Citizens Bank and Construction and Housing Development Bank to deploy core banking technology from Temenos.
  • Filipino tech entrepreneur Gary Viray shares his thoughts on 4 things fintech startups can learn from the mobile payments boom in Cambodia.

MENA

  • DIFC FinTech Hive expands accelerator program to include insurance, Islamic finance, and regtech services.
  • Travelex and UAE Exchange to be combined under single holding company, Finablr, in advance of potential IPO.
  • Gulf International opens Shariah-compliant, digital-0nly bank in Bahrain.

Africa

  • Vio Digital, a South African startup that leverages blockchain technology for worldwide P2P money transfers, to go live in May.
  • The Bill and Melinda Gates Foundation-funded Digital Financial Services Lab (DFS Lab) has announced investment in four African startups: Cherehani Africa, NALA, Nobuntu, and a digital lender from Kenya still in stealth.
  • Report on fintech funding in East Africa shows Kenya receiving 99% of financing with neighbors Uganda, Rwanda, and Tanzania making up 1% combined.

LATAM

  • Nubank Adds Facial Biometrics to Fight Fraud.
  • Argentine fintech supermarket iKiwi expands in Latin America.
  • Chile and U.K. to increase financial and professional sector trade links in areas including fintech, asset management, and green fintech.

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Finovate Global: Fintech News from Around the World

Finovate Global: Fintech News from Around the World
By David Penn Posted on
Categories: Finovate Global, Revolut

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.

LATAM

  • Startupbootcamp FinTech Mexico City scouts for promising fintech startups in Latin America for next incoming cohort.
  • HID Global to support biometrics adoption throughout Latin America.
  • Partnership with Itaú Unibanco brings Apple Pay to consumers in Brazil.

CEE

  • Digital gaming marketplace Kinguin and mobile operator Play launch direct carrier billing in Poland via Fortumo.
  • Revolut announces plans to expand its services to Romania in May.
  • Kyiv Post celebrates diversity and achievement in fintech with its 8 Ukranian Women in Fintech: The Stories of Success feature.

Asia

  • Singapore-based peer to peer lending marketplace Funding Societies scores $25 million in Series C, the largest amount raised by a P2P lender from Southeast Asia.
  • South Korea’s third-largest cryptocurrency exchange slated to go live in Indonesia in June.
  • Singapore startup Silot raises $2.8 million in Pre-Series A funding.

MENA

  • Is the decline in correspondent banking activity hurting Islamic financial institutions? A report from the General Council for Islamic Banks and Financial Institutions says “yes.”
  • BBVA-backed Garanti Bank sponsors the first blockchain workshop in Turkey.
  • ADGM and Plug and Play open for business with new office in Abu Dhabi.
  • Checkout becomes the first PSP to accept payments via Saudi Arabia’s billion-transactions per year domestic network, mada.

Africa

  • Fintech Futures profiles Nigeria’s first loan marketplace, Fint.
  • German fintech MyBucks partners with Finsbury Investments to open fully-operational bank branch in Malawaian refugee camp, Dzaleka.
  • Africa Outlook examines factors accelerating banking transformation in Africa.

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Finovate Global: Fintech News from Around the World

Finovate Global: Fintech News from Around the World
By David Penn Posted on
Categories: ACI Worldwide, Efigence, Finovate Global, Sberbank

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.

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Finovate Global: Fintech News from the Periphery

Finovate Global: Fintech News from the Periphery
By David Penn Posted on
Categories: Finovate Global, nanoPay, Sberbank

As Finovate goes increasingly global, so does our coverage of financial technology. Finovate Global: Fintech News from the Periphery is our weekly look at fintech innovation in developing economies in Asia, Africa, the Middle East, Latin America, and Central and Eastern Europe.

MENA

  • Abu Dhabi Financial Group (ADFG) invests “substantial capital” in U.S. VC firm, 500 Startups.
  • Madfooat.com raises $2.3 million in Series B funding.
  • Saudi Arabia Monetary Authority introduces online payments service via the Saudi Payment Network.

Africa

  • nanopay CEO Laurence Cooke discusses the role of mobile money payment platforms will play in the transformation of Africa’s banking system.
  • South African Reserve Bank establishes division to build proof of concept for distributed ledger technology-based interbank clearing and settlement.
  • South African software company Finteq will collaborate with Zimbabwe’s Zimswitch EFT switch and clearing house to build an automated clearing house.

LATAM

  • Banks in Chile shut down accounts of local cryptocurrency exchanges.
  • Brazil’s leading consumer loan marketplace FinanZero raises $3.6 million in Series A funding.
  • Deutsche Welle looks at Spain’s “under the radar” rise as a digital leader.

CEE

  • Romania’s first factoring fintech platform, Instant Factoring, goes live.
  • Sberbank partners with systems integrator I-Teco to develop joint cloud platform, SberCloud.
  • PKO Bank Polski teams up with blockchain company Coinfirm to log and store client transactions and agreements.

Asia

  • China and Singapore complete first all-blockchain commodity trade.
  • Is it time for a fintech revolution in the Philippines?
  • Bank Indonesia announces 15 fintech companies as official payment system providers.

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Finovate Global: Fintech News from the Periphery

Finovate Global: Fintech News from the Periphery
By David Penn Posted on
Categories: ayondo, CustomerXPs, Finovate Global, Nubank

As Finovate goes increasingly global, so does our coverage of financial technology. Finovate Global: Fintech News from the Periphery is our weekly look at fintech innovation in developing economies in Asia, Africa, the Middle East, Latin America, and Central and Eastern Europe.

Africa

  • TechCrunch profiles Africa-focused microlender, Branch, which recently picked up an investment of $70 million.
  • IT News Africa takes a look at the demand for “senior leaders” in Africa’s growing fintech industry.
  • International money transfer firm PaySend partners with Access Bank Nigeria

CEE

  • Polish Financial Supervision Authority signs MoU with Hong Kong Monetary Authority to encourage fintech collaboration.
  • U.K.-based cross border payments company Ebury opens first office in Bucharest, Hungary. (In Hungarian.)
  • Crowdfundinsider notes the surge in number of registered fintechs in Lithuania courtesy of report from Invest Lithunia.

Asia

  • ayondo celebrates being the first fintech to list in Singapore.
  • Sri Lanka’s largest bank, Bank of Ceylon, to deploy anti-money laundering solution from CustomerXP.
  • Central Bank of Malaysia establishes open API implementation group to develop standards for financial sector.

MENA

  • World Finance Magazine awards Temenos Best Islamic Banking & Finance Software Solution at 2018 Islamic Finance Awards.
  • RAKBANK, also known as The National Bank of Ras Al Khaimah, launches contactless cash withdrawal facility for its more than 170 NFC-enabled ATMs.
  • Dubai International Financial Centre (DIFC) signs MoU with Middle East Venture Partners to support development of the area’s capital technology ecosystem.

LATAM

  • Nubank Challenges Brazil’s Big Banks in Wake of $150 Million Funding Round.
  • Mexico enacts legislation to regulate its fintech sector.
  • Colombian roboadvisor Ualet wins honors as Latin America’s Most Innovative Startup at industry event sponsored by Finnovista.

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Finovate Global: Fintech News from the Periphery

By David Penn Posted on
Categories: Bambu, Finovate Global, Flywire, Neener Analytics, Personetics, Revolut, Turnkey Lender

As Finovate goes increasingly global, so does our coverage of financial technology. Finovate Global: Fintech News from the Periphery is our weekly look at fintech innovation in developing economies in Asia, Africa, the Middle East, Latin America, and Central and Eastern Europe.

Asia

  • Singapore Business Review names Turnkey Lender and Bambu among Singapore’s hottest startups.
  • Citi introduces Facebook Messenger bot in Singapore as initial stage of wider worldwide rollout. (link)
  • Revolut founder and CEO Nikolay Storonsky discusses plans for APAC expansion with TechWireAsia.

Africa

  • Flywire and Flutterwave partner on cross-border payments & receivables in Nigeria.
  • Africa-based fintechs picked up almost one third of all Venture funding in Africa in 2017, according to a report from Disrupt Africa.
  • Village Capital Fintech Africa Cohort 2018 lists its incoming class of 12 startups.

MENA

  • Fintech Circle and Abu Dhabi Global Market (ADGM) to launch fintech education courses.
  • Gulf News Banking takes a look at the digitization of the fintech sector in the Middle East.
  • Bahrain-based security startup, Eazy Financial Services, launches first biometric payment network in MENA.

LATAM

  • Neener Analytics Completes Proof-of-Concept with Jamaican Payday Lender.
  • Alipay partners with Openpay to connect Chinese consumers with merchants in Mexico. (link)
  • Amazon.com unveils first debit card in Mexico as part of e-commerce initiative.

CEE

  • Personetics Brings Cognitive Banking to Romania’s Banca Transilvania.
  • Sberbank to host the first International Cybersecurity Conference in July.
  • CEE Fintech Survey for 2017 cites Poland’s fintech industry as the region’s most vibrant.

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Finovate Global: Fintech News from Asia, Africa, MENA, Latin America, and CEE

Finovate Global: Fintech News from Asia, Africa, MENA, Latin America, and CEE
By David Penn Posted on
Categories: ayondo, Finastra, Finovate Global, Kreditech, Moxtra

With our first conference in Dubai last month, FinovateAsia back on the Finovate calendar and our first trip to Africa scheduled for later this year, Finovate VP Greg Palmer’s observation that “the sun never sets on the Finovate Empire”, rings all the more true.

Here’s a look at some of the latest fintech news from places where technological innovation helping create better life opportunities for those who need it help most.

Asia

  • Ayondo to list on Singapore Exchange.
  • Kreditech partners with PayU to launch PayU Monedo in India, which offers cardless EMI for online purchases.
  • Joint Stock Commercial Bank for Foreign Trade for Vietnam (Vietcombank) picks trade finance platform from Finastra.

Africa

  • Angola’s domestic payments processor EMIS migrates to EMV chip and pin courtesy of solution from Gemalto.
  • Standard Chartered Bank launches digital bank in Cote d-Ivoire
  • Partnership between Mastercard and Uganda’s M-Kopa brings QR payment technology to pay-as-you-go, pilot solar energy program.

MENA

  • Turkish digital wallet firm, BKM introduces payment-without-checkout shopping experience.
  • Riyad Bank in Saudi Arabia unveils contactless bracelets and stickers for tap-and-go shopping.
  • Entrepreneur India looks at how a Bahrain-based payments firm, Arab Fianncial Services, is taking its business to India.

LATAM

  • Banking Technology: Banpro launches Finn.ai’s first Spanish-speaking virtual banking assistant.
  • Startupbootcamp Scale FinTech Mexico City introduces its inaugural cohort of startups: Billin from Spain, Facturedo from Chile, and Expediente Azul, Pagamobile, and Quotanda from Mexico
  • Tech Bullion highlights the new report on international fintech’s expansion to the Latin American market from Finnovista.

CEE

  • Money.pl looks at the number of Polish companies that demoed at FinovateEurope 2018 this month.
  • The Bank of Lithuania reaches out to developers interested in its regulatory sandbox platform for blockchain projects, LBChain.
  • Romanian bank Raiffeisen Bank International (RBI) launches accelerator program, Elevator Lab with five startups, Gauss Algorithmics, SONECT, 360kompany, Asteria, and Moxtra.

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