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Finovate Blog
Tracking fintech, banking & financial services innovations since 1994
Splititforges new strategic partnerships with Malaysian payment solution provider iPay88 and global payments company BlueSnap.
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.
Revolut and Mastercard have teamed up this month to help rebuild schools in Mozambique after they were destroyed by a cyclone this spring. The effort, which is timed with UN’s Universal Children’s Day, aims to raise $207,000 (£160,000) to help get children in Mozambique back to school.
Revolut accountholders are able to show their support by making an in-app donation to Save the Children. Revolut and Mastercard will match donations from Revolut Mastercard customers. The goal is to complete the fundraising by January 2020 so that the schools can be built in time for the school year.
The campaign is made possible by the Donation feature Revolut launched in July. The feel-good feature allows cardholders to set up a recurring payment, make a one-off donation, or round up their purchases to the nearest whole number and donate the spare change. In addition to partnering with Save the Children, Revolut also facilitates donations to WWF and ILGA-Europe.
This campaign is part of a larger philanthropic trend moving through fintech lately. Other fintechs facilitating charity efforts include Meniga, which recently formed a partnership with the UN to allow users to donate their cash-back rewards to fight climate change, and Radius (recently acquired by Kabbage) which launched its Data for Good campaign to help the company’s employees and customers give back to their communities.
Revolut debuted its digital banking technology at FinovateEurope 2015 in London where the company’s CEO and founder Nikolay Storonsky showed off the app’s money transfer capabilities that help users avoid banking fees without actually using a bank.
Last month, Revolut launched in Singapore and announced plans to make its products available in the U.S. in the next couple of months. And in early October the company tapped investment bank JP Morgan to conduct a $500 million funding round and issue it a $1 billion convertible loan. The loan will turn into shares if Revolut receives a U.S. banking license.
Truliooappoints Zac Cohen as chief operating officer.
Trustlyreaches 100 live gaming brands with its Pay N Play player registration and verification product.
Tradeshiftmoves Bucharest team to larger office in Tower Center, announces plans to hire more staff next year.
Globitex tapsSalt Edge for strong customer authentication.
After Belfast launch earlier this year, Signifydrecruits 63 people with plans to recruit 150 more over the next three to five years.
Revolut and Mastercardteam up with Save The Children to support Universal Children’s Day.
The San Diego Union-Tribune namesJack Henry & Associates a top place to work in San Diego for the fourth year in a row.
CredoLab, Neener Analytics, and Vymowin finalist spots in the India FinTech Forum’s IFTA 2019 awards.
Cheturanked as the number two of 50 top software development firms in the U.S.
Payments company VoPay teams up with Plaid to offer a new credit card alternative to consumers in North America.
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.
As Finovate goes increasingly global, so does our coverage of financial technology. Finovate Global is our weekly look at fintech innovation in developing economies in Asia, Africa, the Middle East, Latin America, and Central and Eastern Europe.
Yes Bank launches India’s largest banking developer platform.
Pakistan-based digital lending platform Finja closes $3 million convertible note funding round.
India’s National Stock Exchange launches an open trading API sandbox.
Latin America and the Caribbean
Mastercardpartners with Mexico’s weex wallet to offer physical debit cards.
Colombian fintech Simetrik inks agreement to serve as payment gateway for Mercado Pago transactions.
Brazilian lender Banco Inter unveils new e-commerce app.
Asia-Pacific
MoneyGram and Wing partner to launch new mobile wallet in Cambodia.
Bank of International Settlements (BIS) and the Monetary Authority of Singapore (MAS) agree to locate the BIS Innovation Hub Centre in Singapore.
New Hong Kong license in hand, Tencent announces plans to build a blockchain-based digital bank.
Sub-Saharan Africa
Visaacquires minority stake in Nigerian digital payments company Interswitch Group, an investment that takes the African firm’s valuation to $1 billion.
South African P2P insurance provider Pineapple wins $1.5 million (R22.5 million) in taking home top prize in the Connecticut Innovations VentureClash 2019 competition.
Kenya institutes data protection law to support investment in its technology sector.
Central and Eastern Europe
Billon, a Polish-British blockchain company, joins initiative with Raiffeisen Bank International to digitize the euro.
Trusted identities innovator OneSpan partners with Poland’s Bank Millennium.
A new interest-free, credit service, Postpay, goes live in Dubai.
Executive Magazine looks at the fintech industry in Lebanon and the role of regulation in stimulating growth.
Tunisia announces the digitization of its national currency, the dinar, making the first country to convert a portion of its money supply to digital form.
DriveWealthpartners with Bamboo to give Nigerians real-time access to trade 3,500+ stocks listed on the U.S. stock market.
OnDeckbuilds liquidity with new $125 million securitization.
Salt Edgeteams up with Exprivia to expand access to open banking solutions.
Insuritaspartners with Security Federal Savings Bank to launch digital insurance agency platform.
Coinbaseadds five new currencies to its Coinbase Card – XRP, BAT, REP, ZRX, and XLM – as it brings its card to ten new countries.
MastercardlaunchesMastercard Accelerate, a worldwide initiative that gives fintechs access to the company’s suite of digital solutions to help differentiate their offerings.
Finastrainks partnership with UAE-based United Arab Bank, which will deploy the company’s Fusion Corporate Channels and Fusion Cash Management solutions.
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.
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.
Worldline closes 36.4% stake acquisition in equens Worldline.
Moven parent company receives patent for financial wellness product.
MastercardlaunchesThreat Scan to assess bank fraud exposure.
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.
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.
Asia-Pacific
Singapore’s United Overseas Bank (UOB) partners with proptech innovator SoReal to launch SME property valuation solution.
Bank of China and IBMannounces plans to collaborate on digital transformation, customer experience enhancement, and other innovations in financial services.
North Korea announces plans to develop its own cryptocurrency.
Sub-Saharan Africa
United Bank of Africa (UBA) inks deal with U.S.-based fintech Ovamba Solutions.
FairMoney picks up nearly $11 million in funding to help build a new digital bank in Nigeria.
BeSmarteeannounces 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.
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.
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.
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
RISQTeams Up with Aion Digital to Boost SME Lending in MENA.
ACI Worldwideteams 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 highlightsVymo 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
Settlelaunches 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.
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
Mastercardacquires global payments firm Transfast.
Chatbots.Studiopartners with Digital Flex Solution to become their first technical partner and adviser. Check out Chatbots.Studio at FinovateFall in September!
CREALOGIXwinsBest Wealth Management User Interface at the 2019 Systems in the City Financial Technology Awards.
Sports Business Daily interviewsEverfi Head of Global Partnerships Jon Chapman.
Gartner’s 2019 Market Guide for In-App Protection recognizesJscrambler for its client-side security technology.
Ping IdentityearnsBest 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.
