Finovate Alumni News

On Finovate.com

  • Betterment Now Wants Your Liquid Cash, Too.
  • Finovate Alums Honored at PayTech Awards 2019.
  • BlueRush Inks IndiVideo Deal with Nikia Dx.

Around the web

  • DriveWealth announces collaboration with U.S.-based registered investment advisor Vested Finance to give investors in India access to U.S. stock.
  • Mastercard forges new partnership with SumUp, boosting the number of electronic payment acceptance locations across 27 countries in Europe.
  • Singapore-based Cheers Paytech chooses core banking technology from Mambu.
  • New Zealand’s seventh largest bank, TSB, goes live with Temenos Infinity for online account opening and onboarding.
  • ThetaRay launches version 4 of its analytics platform to help banks detect and prevent cybercrime.
  • BeSmartee announces direct integration with real estate document collaboration and recording technology solution provider Simplifile.

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

  • ClickSWITCH to Power Digital Direct Deposit Switch for Current.
  • Standard Bank Leverages Mobile Teller Tech from Infosys Finacle.
  • Fiserv to Enhance Risk Management for Pan-American Life.

Around the web

  • New integration between Revolut and TrueLayer brings Open Banking to money management app Emma.
  • Via its Mastercard Send push payments solution, Mastercard and Evolve Bank & Trust team up to back Branch and similar companies to ensure prompt payment for gig workers.
  • Envestnet helps Voya Financial launch hybrid roboadvisory offering.

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.

Settle Launches Mobile App in Croatia; Sr. Pago Partners with American Express

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.

Middle East and Northern Africa

  • RISQ Teams Up with Aion Digital to Boost SME Lending in MENA.
  • ACI Worldwide teams up with Egyptian Banks Company, which will leverage ACI’s UP Retail Payments solution.
  • The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has begun issuing digital banking licenses.

Central and Southern Asia

  • Bangalore-based neobank for workers NiYO raises $35 million in new funding.
  • WebMoney Transfer goes live with its WMY wallet in Uzbekistan.
  • India’s Recko, a company that provides AI-powered digital transaction reconciliation, picks up $1 million in seed capital.
  • Swiss payments technology company BPC opens offices in Pakistan.
  • Nikkei Asian Review highlights Vymo and its entrance to the Japanese market.

Latin America and the Caribbean

  • Jumio to power digital identity for Brazil-based BTG Pactual.
  • Mexico’s Sr.Pago announces partnership with American Express.
  • Mastercard Brazil partners with Airfox and banQi to bring lower-cost banking options to Brazilian customers.

Asia-Pacific

  • Bank of Thailand implements SimCorp Dimension to manage its reserve management and monetary policy operations.
  • Vietnam’s central bank warns against fraud in the P2P lending market.
  • Regulators in the Philippines introduce new rules governing crowdfunding.

Sub-Saharan Africa

  • Temenos to power digital transformation for Rwanda’s Bank of Kigali. The company will also replace core and front office legacy systems for South African microfinancier Barko
  • Ghana to launch universal QR code payment method later this year.
  • Mobile payments startup OPay raises $50 million in funding in round led by Sequoia China, IDG Capital, and Source Code Capital.

Central and Eastern Europe

  • Settle launches its mobile payments app in Croatia.
  • Czech-based fintech developer Turing Technology closes second round of funding.
  • Slovenia’s Telekom Slovenije introduces its mobile wallet.

Top image designed by Freepik

Finovate Alumni News

On Finovate.com

  • Best of Show Winner Banzai Teams Up with GreenPath to Boost Financial Literacy.
  • Digital Onboarding to Boost Customer Engagement for Manatee Community FCU.
  • Finovate Global: Settle Launches Mobile App in Croatia; Sr. Pago Partners with American Express.

Around the web

  • Mastercard acquires global payments firm Transfast.
  • Chatbots.Studio partners with Digital Flex Solution to become their first technical partner and adviser. Check out Chatbots.Studio at FinovateFall in September!
  • CREALOGIX wins Best Wealth Management User Interface at the 2019 Systems in the City Financial Technology Awards.
  • Sports Business Daily interviews Everfi Head of Global Partnerships Jon Chapman.
  • HackerOne achieves ISO 27001 certification.
  • Gartner’s 2019 Market Guide for In-App Protection recognizes Jscrambler for its client-side security technology.
  • Ping Identity earns Best Identity Management Solution honors at the 2019 SC Awards Europe.

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.

Mastercard Works with P27 to Launch Real Time Payments in the Nordics

Mastercard has teamed up with P27 Nordic Payments Platform to deliver fast, cross-border, multi-currency account to account payments across the Nordic region, reports Jane Connolly of Fintech Futures (Finovate’s sister publication).

The partners claim this is a world first in terms of a real-time and batch multi-currency platform, which will offer immediate payments with lower costs, higher security and increased competitiveness.

P27 Nordic Payments Platform is owned by Danske Bank, Handelsbanken, Nordea, OP Financial Group, SEB and Swedbank.

After establishing the underlying infrastructure, the partnership will look to develop further common products and services based on the platform.

Javier Perez, president Europe at Mastercard, said the partnership is “evidence of Mastercard’s vision to drive real choice by being the trusted provider of new payment experiences and broadening our reach into fast bank account payment flows. The Nordic markets are global leaders in the development and usage of electronic payments and this new infrastructure will maintain their advantage over the rest of the world.”

Lars Sjögren, CEO of P27 Nordic Payments Platform, believes that the single interface will make it easier for banks to handle all payments, both domestically and internationally.

He added: “This is change for real. By joining forces across the Nordics, we will be able to develop instant payment solutions in a way that each country never would accomplish by themselves.”

Banks will benefit from real-time views of multiple active schemes, participant information, balances across schemes and a data-rich message set.

The new platform is subject to regulatory approvals and final investment commitments.

Earlier this year, Mastercard teamed up with fellow Finovate alum Strands to demo the Strands SME Cash Flow Manager enhanced by Mastercard Technology at FinovateSpring. The solution is a digitization tool designed specifically to help meet the needs of SME banking. Previously, Mastercard partnered with Vipera, to demo the Milan, Italy-based company’s SME-Pay mobile payment solution at FinovateEurope 2018.

Mastercard’s Mobile Payments Service Pay by Bank Teams up with Yoyo

A new partnership between U.K.-based payment and loyalty marketing platform Yoyo and Mastercard’s mobile payment service, Pay by Bank (PbBa), will bring a new, secure and fast payment option – and merchant-specific, personalized rewards – to high street retail.

The new offering is expected for later in the year for both retail and bank customers. It will enable users to make transactions using Pay by Bank in physical stores, and earn retail specific loyalty, rewards, and other personalized offers.

“We are delighted to be working with Mastercard and Pay by Bank app,” Yoyo CEO Michael Rolph said. “We’ve always believed that adding both security and value to the payments process is crucial for the future of bricks and mortar retail, and this partnership is going to significantly enhance the customer experience for PbBa users.”

Pay by Bank was developed by Mastercard’s Vocalink division and enables consumers to make payments from their bank account via their mobile banking app without requiring additional password verification. Launched in 2016, the app offers bank grade security which, combined with Yoyo’s double tokenization technology, keeps payment data and user identity protected.

“The combined Yoyo and Pay by Bank app proposition will provide both customers and retailers with added speed and security at the point of sale,” Rolph said, “as well as an omnichannel payment and loyalty experience that is unrivaled in the market.”

With more than 1.5 million users – including 750,000+ active monthly users – and processing three million transactions a month, Yoyo demonstrated its retailer-specific bank card loyalty offering at FinovateEurope earlier this year. Just a few weeks ago the company announced that former Mastercard executive David Yates would join Yoyo as chairman.

In April, the company partnered with PAUL UK to help the French bakery launch its first mobile payments and loyalty app. Yoyo began 2019 teaming up with SOHO Coffee to build a payments and loyalty solution for the artisan coffee chain.

Founded in 2013, Yoyo has raised $60.3 million in funding. SOSV and Hard Yaka are among the company’s investors.

Finovate Alumni News

On Finovate.com

  • Mastercard’s Mobile Payment Service Pay by Bank Teams Up with Yoyo.
  • Trulioo Teams with Refinitiv for Financial Inclusion.
  • Workfusion Brings Robotic Process Automation Global with New Partnership.
  • OneSpan Unveils its Secure Agreement Automation Solution.

Around the web

  • Splitit (formerly PayItSimple) announces partnership with Hong Kong-based EFTPay.
  • bpm’online launches its new tool for collaborative process design, bpm’online Studio Free.
  • Wipro to acquire digital engineering and manufacturing solutions firm, International TechneGroup Inc. (ITI).
  • Business Cloud UK interviews Andrew Bud, CEO and founder of Best of Show winner, iProov.
  • Four Finovate alums – Digital Onboarding, Gremlin Social, Voleo, and Neener Analyticsearn spots in the fourth Venture Center FinTech Accelerator program sponsored by Fidelity Information Services.
  • Inside Secure ships Whitebox Designer, a new software security tool.
  • Featurespace to power transaction monitoring for Permanent TSB.
  • Jumio wins the 2019 Fortress Cyber Security Award for Authentication and Identity from the Business Intelligence Group.

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

  • BeSmartee Unveils New Mortgage TPO Platform.

Around the web

  • Identitii is now a ‘Co-Sell Ready’ partner for Microsoft.
  • Feedzai launches tools to help banks offer account opening solutions with fraud prevention.
  • Bankingblocks leverages Five Degrees’ Matrix solution as its digital core banking platform.
  • Eurobank Group selects TemenosT24 Transact for its subsidiaries.
  • Insuritas Launches Tucson Federal Insurance Agency for Tucson FCU.
  • Former Mastercard executive David Yates joins Yoyo as chairman.
  • AlphaPoint names co-founder Igor Telyatnikov as its new CEO.

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.

Qatar Backs SoFi; Ripple Powers Cross-Border Payments in Brazil

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.

Middle East and Northern Africa

  • SoFi announces $500 million investment led by Qatar.
  • Emirates NBD to leverage technology from Amazon Web Services to build an AI-enabled “bank of the future”.
  • New partnership between Turkey’s Isbank and Yandex.Checkout to support transactions in rubles for Russians shopping online in Turkey.

Central and Southern Asia

  • Strands strikes digital banking deal with India’s Tech Mahindra.
  • BankBazaar to offer financing options for customers of furniture and home products marketplace Pepperfry.
  • Amitabh Kant, CEO of Niti Aayog, a premier think tank of the Indian government, sees a $31 billion Indian fintech market by 2020.

Latin America and the Caribbean

  • Brazilian exchange brokerage, Frente Corretora de Cambio, goes live with cross-border remittance solution powered by Ripple technology.
  • World Finance features Sao Paulo among its Top 5 Emerging Fintech Hubs.
  • IMFBlog looks at how fintech can lower remittance costs in Latin America.

Asia-Pacific

  • The central bank of Indonesia, Bank Indonesia, unveils its Quick Response Indonesia Standard (QRIS), a new QR code system.
  • Mastercard and UOB partner to introduce the UOB Retail Business Metal Card designed for APAC SMEs.
  • B2B cross border payments company TransferMate picks up payment license in Singapore.

Sub-Saharan Africa

  • Ghana’s ARB Apex Bank reups with Temenos.
  • Titan Trust Bank of Nigeria chooses Oracle FSS for its core and digital banking technology.
  • CNBCAfrica profiles South African payments and merchant acquiring solutions provider Crossfin.

Central and Eastern Europe

  • Lithuania fintech Paysera goes live in Romania.
  • Polish “credit of fintech-as-a-service” innovator Symmetrical.ai raises $1.5 million (€1.3m) in funding.
  • Billon Solutions and Microsoft announce partnership with the University of Warsaw to develop academic use cases for DLT technology.

Top image designed by Freepik

Finovate Alumni News

On Finovate.com

  • SoFi Announces $500 Million Investment Led by Qatar.

Around the web

  • Trustly launches automated invoice payment solution, Pay Your Invoice.
  • PayPal reaches $10 billion in small business loans issued via its business financing offerings.
  • Mastercard and UOB partner to introduce the UOB Retail Business Metal Card designed for APAC SMEs.
  • Kofax launches its Intelligent Automation software platform.
  • Brazilian exchange brokerage, Frente Corretora de Cambio, goes live with cross-border remittance solution powered by Ripple technology.
  • Fenergo unveils a new suite of CLM tools, Digital Client Orchestration.
  • Trulioo named best identity verification and authentication solution at 2019 CNP Expo.
  • KyckGlobal partners with InComm to provide same-day pay to gig workers.
  • Sam Kilmer offers 3 takeaways of FinovateSpring 2019 in 3 minutes.

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.