Finovate Global: Ant Financial’s Big Buy; Neobanks Ready for Takeoff

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.

Sub-Saharan Africa

  • Ten African subsidiaries of Societe General to benefit from enhanced payment processing capabilities courtesy of new partnership with HPS.
  • South African challenger bank TymeBank moves toward a formal launch in late February.
  • The IMF blog reviews the prospects for fintech innovation in Sub-Saharan Africa.

Central and Eastern Europe

  • Fintech Futures interviews Pavel Novak, CEO of Czech Republic-based P2P lender, Zonky.
  • iSignthis acquires Lithuania-based banking software provider, Baltic Banking Services (BBS).
  • Partnership between Yandex.Checkout and Tinkoff Bank supports direct payments to online stores by way of Tinkoff’s app and online banking offering.

Middle East and Northern Africa

  • Abu Dhabi Commerical Bank (ADCB) goes live with its PFM app, MoneyBuddy, which uses technology from Strands.
  • Dubai-based neobank Xpence prepares for launch.
  • Saudi Arabia banking regulator opens regulatory sandbox to test fintech solutions.

Central and South Asia

  • State Bank of India to help finance digital invoice discounting marketplace, Invoicemart.
  • The Daily Star considers the “promise of fintech” for Bangladesh.
  • Reliance Realty announces plans for a fintech center in Navi Mumbai, India.

Latin America and the Caribbean

  • PYMNTS.com looks at the Mexican government’s efforts to leverage fintechs to help make it easier and less expensive for Mexicans living abroad to send money home.
  • Brazilian SME lender Adianta raises $2.18 million ($8 million reals) in round led by DGF Investimentos.
  • Colombian fintech Open Vector signs memorandum of understanding (MoU) to support development of open banking in South America.

Asia-Pacific

  • Ant Financial to acquire UK currency exchange firm, WorldFirst in $700 million deal.
  • Singapore’s United Overseas Bank (UOB) to debut its digital bank, TMRW, in Thailand.
  • Visa announces plans for an innovation center in South Korea.

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Finovate Alumni News

On Finovate.com

  • Insurtech Innovator CoverHound Fetches $58 Million in New Funding.
  • Bill.com Partners with American Express to Offer New AP Solution, Vendor Pay.

Around the web

  • Revolut and WeWork team up to provide three months of “hot desk space” to Revolut for Business customers.
  • PXP Financial, borne of the merger of PXP and Kalixa, announces its public launch.
  • U.K.-based cloud accounting firm FreeAgent to offer direct data feeds to banks via the Open Banking framework.
  • bpm’online forges partnership with Meritus Business Solutions.
  • Optimove unveils iGaming Pulse, a benchmark solution to enable gaming operators to test the performance of their platforms against industry performance metrics.
  • Onfido appoints former Head of Computer Vision for Robotics at Amazon, Mohan Mahadevan as its new VP of Research.
  • Switch reports that its CardSavr service boosts credit card usage immediately at activation.
  • Enveil announces technology partnership and integration with advanced data security solution and services provider Thales.
  • CuneXus partners with outdoor recreational vehicle buying network, Rollick, to streamline the financing process for RV shoppers.

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

  • Interactions Partners with Next Caller for Phone-Based Threat Assessment.
  • BioCatch Brings Behavioral Biometrics to ACI Worldwide.

Around the web

  • Token to support PSD2 compliance and open banking capabilities for U.K.’s thinkmoney.
  • SafeAmericaCU’s switch to AI-powered technology from Bankjoy helps the $433 million asset FI to earn “Best Practices” honors from CU Journal.
  • TransferWise secures £65 million syndicated debt facility with NatWest, JP Morgan, and LHV Bank.
  • iSignthis plans for Australian neobanking license in 2019.
  • PayNearMe’s electronic payment volume grew by more than 25% month-over-month in the past year.
  • Klarna joins Shopify Plus Partner program to power merchants.
  • TrueAccord wins a Healthy Mothers Workplace Award.
  • Passport recognized as one of Charlotte’s fastest growing companies.
  • Launchfire wins gold Brandon Hall Group Excellence in Technology Award.
  • Bill.com selects Comdata as Virtual Credit Card Provider for B2B Payments.
  • TopTracker partners with Payoneer to allows free payments between companies and freelancers.

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

  • Pindrop Advances into Smart Devices with $90 Million in Funding.

Around the web

  • iSignThis begins accepting customer deposits to its own issued International Bank Account Numbers (IBANs).
  • Personal Capital moves headquarters to Redwood Shores.
  • Signifyd opens EMEA headquarters in London to support its ecommerce fraud protection business in Europe.
  • Juvo expands across Asia with regional headquarters in Singapore.
  • Ondot announces new digital card services platform to support U.K. banks.
  • Lighter Capital provides NinjaCat $1.1 million.
  • R3’s new Corda App supports Ripple’s XRP.
  • Upserve (formerly Swipely) releases newest point-of-sale device, Upserve POS, now available for Android.

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

  • EVRY Lands 7-Year Deal Worth $77 Million.

Around the web

  • Shoeboxed has processed 28+ million documents and receives upwards of 200,000 documents per month from customers through Magic Envelope since launching it in 2007
  • Entrepreneur features how Xsolla helps Fortnite game developers get paid.
  • Lendio recognized as a great place to work for third consecutive year.
  • AlphaPoint, facilitates issuance of digital pound sterling for London Block Exchange, a multi-cryptocurrency exchange.
  • Klarna enters global opportunity with Clas Ohlson partnership.
  • iSignthis receives Visa/Mastercard license.
  • Atom Bank partners with Thought Machine.

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

  • Envestnet | Yodlee Doubles Down on the Developer Experience.
  • Braintree Merchants Can Now Accept Samsung Pay.

Around the web

  • eToro sets up a free bitcoin ATM to celebrate Bitcoin’s 10th anniversary.
  • Tradeshift announces new app from kompany to reduce supply chain risk.
  • Crain’s Chicago Business names Narrative Science on its list of most innovative companies.
  • Fenergo listed on Deloitte’s Technology Fast 50 Ireland list.
  • iSignThis’ ISXPay receives Bank Institution Code, will be able to accept deposits directly as a monetary financial institution as of December 4.

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

Around the web

  • iSignthis announces its Tier 1 JCB card acquiring service is now live in the EU/EEA.
  • CallVU to provide advanced biometric authentication technology to international credit card provider.
  • Jumio reports sales growth of 130% year over year for the first three quarters of 2018.
  • Capsilon teams up with Home Point Financial to streamline loan process.
  • The latest upgrade of SecureSafe features desktop encryption. In German.
  • NICE Actimize launches X-Sight, a financial crime risk management platform-as-a-service solution.
  • Alloy and Socure partner to automate digital identity verification and onboarding for financial institutions.
  • PayStand expands operations to Mexico, forms regional partnership with StartupGDL.
  • Tinkoff Bank adds 26 new currencies for its Black Card customers.
  • Identitii launches Overlay+ to enable Know Your Transaction. 
  • Jack Henry & Associates acquires BOLTS Technologies for its digital account opening solution.

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

Around the web

  • Mambu introduces its Mambu Process Orchestrator (MPO), an integration-platform-as-a-service offering to help companies build and manage API- and cloud-based processes.
  • iSignthis teams up with Finland’s biggest cryptocurrency service provider, Prasos.
  • Mozo features SocietyOne in its lineup of 4 Aussie fintechs you need to know about.

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

  • Finicity Teams Up with Capsilon to Modernize Mortgage Origination.
  • CardFlight’s New Release Adds Paper Receipt Printing, Advanced Security, and More.

Around the web

  • iSignthis acquires core banking technology provider Probanx.
  • Entersekt taps Christian Ali as new country manager for Canada.
  • Jack Henry & Associates’ ProfitStars division unveils new online, anti-fraud monitoring and reporting technology.
  • Chris Savides named new global Chief Operating Officer at TransferTo.
  • Cortera announces partnership with Moody’s Analytics in new RiskCalc SMB solution.
  • PayNearMe powering Buildium’s Retail Cash Payments, a feature that allows residents to pay rent in cash.
  • Lendio Franchising has helped facilitate $16 million in financing to 500+ SMBs and reports a 111% percent increase in loans funded quarter over quarter.
  • Persado announces Persado for Salesforce on Salesforce AppExchange.

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

  • Xero Learn Sets Stage for Next Generation of Number Crunchers.
  • SynapseFI Raises $17 Million in New Funding.

Around the web

  • iSignthis acquires core banking platform software business.
  • HooYu teams up with U.K. casino operator, Bear Group.
  • United Bank of Egypt leverages technology from Finastra to upgrade its core banking infrastructure.
  • Ripple and TransferGo partner on real-time, blockchain-enabled remittances.
  • Striata inks partnership with UK-based customer communications specialist Communisis.
  • Experian to launch comparison service feature that gives consumers the real rate charged when applying for a credit card.
  • Tibco has started a research lab to develop new products and services in emerging areas such as blockchain, machine learning, artificial intelligence (AI) and the internet of things (IoT).
  • BeSmartee integrates with Fannie Mae’s Desktop Underwriter to Accelerate Mortgage Process.
  • Kasasa names Amy Gililland Chief Financial Officer.

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.