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Tracking fintech, banking & financial services innovations since 1994
Join us in October 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.
For information on how to participate in FinovateAsia as a demoing company, partner, or sponsor, send us an e-mail and we’ll tell you everything you need to know.
Middle East and Northern Africa
A partnership between R3 and Dubai’s platform-as-a-service company Wethaq will help digitize Islamic capital markets.
Working capital solution provider Demica goes live with supply chain finance technology from Saudi British Bank.
National Bank of Bahrain unveils new bulk cash deposit machines with secured with a biometric scan.
Central and Southern Asia
BharatPe, a digital payments company based in New Delhi, raises $50 million in new funding.
Tech Mahindra teams up with Adjoint to launch blockchain-based enterprise financial management and insurance services.
Bangalore-based fintech CRED announces $120 million funding round.
Latin America and the Caribbean
Mexican online lender Credijusto announces $42 million investment from Goldman Sachs and Point72 Ventures.
Brazilian online personal loan platform REBEL raises $42.2 million via financial loan securitization.
Forbes interviewsNubank founder and CEO David Vélez.
Finastrataps Wissam Khoury as new head of its Asia Pacific (APAC) team.
Flywirepartners with Vietnam Prosperity Bank to simplify international tuition payments for Vietnamese students.
Avaloqappoints Imad Abou Haidar as its new Head of Asia.
South Africa’s Nomanini inks $4 million deal with Standard Bank.
Brink News looks at the “game-changing” potential of fintech in sub-Saharan Africa.
SME financing solution provider Nvoicia takes top honors at Seedstars Ghana competition.
Central and Eastern Europe
Tremend Software Consulting announces strategic partnership with Mastercard Romania.
CIO of AXA Poland Oliver Schemberg talks about the “people-led strategy” behind the success of its digital transformation.
Global payments platform Flywire is extending its agreement with China’s UnionPay, the Massachusetts-based company announced today.
The two are re-launching a program that discounts foreign exchange rates on cross-border tuition and healthcare transactions. The initiative, which first launched last spring, is available to all UnionPay cardholders making payments originating in China. The rate on foreign exchange payments made to participating education and healthcare facilities will be the same as a local bank transfer.
“We strive to offer our clients’ payers the most convenient and secure payment options in each international market they serve,” said Ryan Frere, vice president of global payments for Flywire. “For Chinese students and patients making cross-border payments, UnionPay is the most preferred and trusted brand. We’re pleased to expand this program and bring valuable savings to more payers and institutions.”
UnionPay is a smart partner pick for Flywire. The bank’s home country is the number one origination of students studying abroad. More than 662,000 Chinese citizens studied abroad last year, a figure up 9% from 2017. Medical tourism is also popular among Chinese citizens; more than 630,000 Chinese patients traveled abroad for medical care in 2018.
Flywire originally launched as peerTransfer in 2011, when the company debuted its college tuition payment platform at FinovateSpring 2011. Flywire’s platform processes billions of dollars in payments every year in over 120 different local currencies, connecting more than 1,400 businesses and universities with their customers.
In addition to its Boston headquarters, the company has offices in Chicago, London, Manchester, Valencia, Shanghai, Singapore, Tokyo, Cluj, and Sydney.