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

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 Alumni News

On Finovate.com

  • MaxMyInterest Unveils High Yield Account Max Checking.

Around the web

  • Finastra announces two new apps built via its FusionFabric.cloud open development platform.
  • Fiserv inks partnership with DUCA Financial Services Credit Union, a Toronto, Ontario, Canada-based institution with more than 70,000 members.
  • Ripple’s “acqui-hiring” of the engineering team from Icelandic crypto trading company Algrim helps pave the way for its entry to the country.
  • Flywire and JCB International partner to allow select cardholders to use their JCB card to pay tuition.
  • More than 60 lenders join the CrediVia marketplace to source commercial loans.
  • Bill.com now facilitates payments in more than 130 countries and 100+ currencies.
  • Dwolla partners with TransferMate Global Payments to allow customers and their end users the ability to make and receive international payments.
  • Quadient parent company Neopost changes its name to Quadient.
  • InComm partners with Mizuho Bank to expand J-Coin Pay in Japan.

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

  • Dynamic Hedging Specialist Kantox Teams Up with Silicon Valley Bank.
  • What’s Trending Across Fintech Verticals.

Around the web

  • Arkose Labs announces updates to the dynamic risk engine and adaptive step-up of its anti-fraud platform.
  • Experian leads $20 million funding for Hong Kong-based CompareAsiaGroup.
  • EZBOB earns Best Fintech Partnership honors at The Banker’s Tech Project Awards 2019 for its Smart Onboarding Engine.
  • AI Foundry one of 15 companies selected to present in VentureBeat’s AI Showcase Tech Showcase.
  • Noble Credit Union selects Digital Onboarding to engage new members.
  • Signifyd launches Signifyd Seamless SCA to help businesses meet PSD2 requirements.
  • InComm partners with LA Metro to expand locations where customers can purchase and reload TAP cards.
  • Jack Henry & Associates named one of the best places to work in Alabama by Business Alabama.
  • Bpm’online CEO and Managing Partner Katherine Kostereva recognized in The Software Report’s Top 50 SaaS CEOs of 2019 feature.

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.

InComm Makes Third Acquisition this Year with Purchase of Meridian Loyalty

Prepaid payments innovator InComm is continuing its shopping spree this week. The Atlanta-based company announced it has agreed to buy Meridian Loyalty, a loyalty and incentives company that creates engagement tools for large corporations. The amount of the acquisition was undisclosed.

The move not only offers InComm access to Missouri-based Meridian Loyalty’s global database of Fortune 500 clients, it also will bolster InComm’s incentives product offerings that include B2C, B2B, and employee programs. Specifically, Meridian Loyalty’s technology will help InComm reach beyond its stored value products and offer holistic, brand-focused services such as travel and merchandise redemptions.

Explaining the purchase, InComm CEO Brooks Smith said that it’s moving the company towards “helping [its] customers maximize the performance of their programs.” Sam Toumayan, President and Owner of Meridian Loyalty, added, “… [O]ur point of view has been rewards-agnostic from day one. We’re incredibly excited to be joining the InComm team and finding innovative ways to drive positive client outcomes.”

InComm offers more than 500,000 points of retail distribution with 1,000+ brand partners in more than 30 countries. The company debuted CorFire Mobile Commerce at FinovateFall 2011. More recently, InComm showed off the Cashtie API at FinDEVr Silicon Valley 2014. Last month, the company purchased Hallmark Business Connections, a subsidiary of Hallmark Cards that provides employee incentive programs. In March InComm acquired Linq3 Technologies, an Atlanta, Georgia-based digital lottery company.

Finovate Alumni News

On Finovate.com

  • InComm Makes Third Acquisition this Year with Purchase of Meridian Loyalty.
  • Email Security Specialist GreatHorn Locks in $13 Million Investment.

Around the web

  • Monzo partners with Xero and Free Agent.
  • Temenos to power digital transformation for Rwanda’s Bank of Kigali.
  • BuiltIn features HooYu in its look at how AI is changing the banking industry.
  • ACI Worldwide teams up with Egyptian Banks Company, which will leverage ACI’s UP Retail Payments solution.
  • Entrepreneur magazine names Lendio Franchising as a Top 100 Franchise for Less Than $50,000 in 2019 and as the Best Financial Services Franchise Brand for the second year in a row.
  • Yseop recognized as a representative vendor in Gartner’s first Market Guide for Natural Language Generation Platforms.
  • Saga selects FIS to deploy its Integrity SaaS solution.
  • iSignthis launches third European office in Gzira, Malta.
  • In June Personal Capital surpasses $10 billion in assets under management, an increase of more than $2 billion since Q4 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.com

  • Ninth Wave Lands New Investment.

Around the web

  • Lendio moves headquarters from South Jordan to Lehi, Utah.
  • Revolut launches charitable giving feature.
  • Backbase is named a leader in the Forrester Wave for Digital Banking Engagement Platforms for the third year in a row.
  • InComm becomes exclusive distributor of Amex prepaid cards in Canada.
  • Tradeshift launches Tradeshift Go 2.0, a payments product offering that increases visibility into employee spending.
  • Gusto partners with Accelo to sync time-off requests from Gusto to Accelo’s real-time scheduling and resource management module.

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

  • Bento Unveils Venmo Style Digital Payments Solution for SMEs.
  • Cybercrime Fighter ThetaRay Announces Strategic Investment from ABN AMRO.

Around the web

  • Identitii wins award for Best Workplace Diversity at The Finnies 2019.
  • InComm launches barcode payment solutions at DFS Duty-Free stores in Japan.
  • Klarna expands its UK operations with a new office in Manchester.
  • INTELid.io to integrate ValidSoft’s voice biometrics into its private digital identity blockchain.

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.

InComm Buys Hallmark Cards Subsidiary

Prepaid payments company InComm has purchased Hallmark Business Connections, a subsidiary of Hallmark Cards that provides employee incentive programs. Terms of the deal were undisclosed.

Hallmark built Hallmark Business Connections as its business relationships unit. The subsidiary offers physical and digital greeting cards to promote employee engagement to celebrate career milestones, company achievements, workplace excellence, and personal growth. Hallmark Business Connections also sells customer engagement cards such as those for direct marketing, customer care, and member outreach.

Hallmark Business Connections customers, which include Wells Fargo, State Farm, and Zappos, span a range of industries. The company is headquartered in Kansas City, Missouri, with offices in Minneapolis and Duluth, Minnesota.

“Hallmark Business Connections has built on the iconic Hallmark greeting card brand to empower companies with the means to create personalized incentive programs that recognize employees for dedication to their organization,” said Brooks Smith, CEO of InComm. “By combining this business with InComm’s existing loyalty and incentives solutions, we are able to offer an unprecedented level of technology and expertise that will help companies create the most engaging incentive programs possible.”

This is InComm’s ninth acquisition after buying digital lottery company Linq3 Technologies in March. The purchase helps solidify the Atlanta-based company’s expansion from stored value reward cards into more comprehensive incentives programs.

InComm offers more than 500,000 points of retail distribution with 1,000+ brand partners in more than 30 countries. The company debuted CorFire Mobile Commerce at FinovateFall 2011. More recently, InComm showed off the Cashtie API at FinDEVr Silicon Valley 2014. In May, the company expanded into wearables by making its MyVanilla Prepaid Mastercard compatible with Fitbit Pay and Garmin Pay.

Finovate Alumni News

On Finovate.com

  • Tink Secures Strategic Investment from PayPal.
  • InComm Buys Hallmark Cards Subsidiary.

Around the web

  • ACI Worldwide makes strategic investment in Indian digital payments company Mindgate Solutions.
  • Currencycloud and VISA forge partnership to fuel innovation in cross-border and travel payments.
  • Trulioo partners with Refinitiv to improve access to digital identity solutions.
  • German open digital identity scheme yes.com to integrate into Signicat’s Digital Identity Platform.
  • Splitit appoints former Intuit and PayPal Exec to lead North American operations.

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.