Finovate Global: Fintech News from Around the World

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.

Latin America and the Caribbean

  • Brazilian card processor Conductor to deploy 3D Secure authentication technology from TAS Group later this fall.
  • Distributed check capture specialist Panini and technology distributor J. Fleischman team up to bring check truncation to Paraguay.
  • Visa introduces loyalty program available to issuing banks in Latin America and the Caribbean.


  • TransferWise opens office in Hong Kong as part of expansion into Asia.
  • AsiaCollect, a credit management services provider based in Singapore, raises $4.5 million in funding.
  • Foreign exchange and international payments company, Frontierpay, opens Asian headquarters in Singapore.

Sub-Saharan Africa

  • South African fintech walletdoc partners with EasyPay to make it easier for consumer to pay monthly subscriptions and utilities.
  • Western Union opens office in Ivory Coast.
  • Nigeria’s Bureau of Public Procurement introduces eGovernment Procurement System.

Central and Eastern Europe

  • Albania’s Raiffeisen Bank Shqipëri partners with NF Innova to deploy digital self-service kiosks.
  • Efigence provides UI/UX design, development and implementation for new investment platform from Polish home equities broker, CDM Pekao.
  • Russian SME crowdfunding platform SimplyFi partners with Tochka Bank to offer direct lending to the bank’s business customers.
  • Sberbank introduces support for Google Pay.
  • Western Union partners with Russia’s Post Bank, enabling money transfers via Post Bank’s mobile app.

Middle East and Northern Africa

  • Kuwait Finance House (KFH) to use VISA’s token service for its mobile wallet.
  • Saudi Arabia-based Maalem Financing to deploy Islamic core banking technology from Path Solutions.
  • Turkish government launches fintech task force to improve fintech ecosystem locally.

Central and South Asia

  • The Economic Times looks at the role of bankers in India’s “coming fintech revolution.”
  • RBS India, the innovation hub of the Royal Bank of Scotland, to launch forum on disability inclusion.
  • PaySend joins Astana International Finance Centre (AIFC), a central Asian fintech hub based in Kazakhstan.

Top image designed by Freepik

NF Innova | NFG and Mambu Team Up to Deliver New Digital Banking Solution

New Frontier Group (NFG), the company behind software development and digital transformation firm, NF Innova, has announced a new partnership with SaaS banking specialist Mambu. The partnership will enable NFG to extend its digital banking offering, creating a fully online and automated digital banking solution that will make it easier for FIs to not only digitize and automate customer-facing processes, but also get new products and services to market faster.

“Customer expectations have changed and institutions need to be flexible enough to respond quickly in an evolving market,” NFG Managing Director Gregor Bierent said. “Our partnership with Mambu is a natural fit that creates an integrated solution where the approach to agility, integration, modularity is aligned.”

NFG’s platform provides personalized, real-time service and easy onboarding across all digital channels. Leveraging Mambu’s banking engine, the solution delivers PFM, customer segmentation, smart bots and other applications via a cloud-native API-enabled architecture. Institutions can readily integrate complementary solutions to the platform to suit the specific needs of their markets, as well.

“We can now deliver an end-to-end solution from online onboarding to loans administration, KYC and availability across opti-channels, ranging from mobile to watches which are all managed through a single interface,” Bierent added. “Through the intuitive and configurable combined solution, institutions can offer their customers a rich and seamless experience.”

“We are pleased to welcome NFG to our growing partner ecosystem,” Mambu CTO and CPO Ben Goldin said. “Their opti-channel solution will help our mutual clients to create intuitive and seamless experiences for digitally driven financial institutions.”

NF Innova was founded in 2013 and is headquartered in Serbia. The company demonstrated its iBanking Opti-Channel Bot at FinovateEurope 2018. Part of the New Frontier Group, NF Innova is dedicated to building state-of-the-art customer engagement solutions. The company also announced this week that Albania’s Raiffeisen Bank will be deploying its digital self-service kiosks to provide 24/7 availability, reduced transaction times, and improved ease of access for the bank’s customers.

Mambu made its Finovate debut at FinovateAsia 2013 in Hong Kong. Based in Berlin, Germany, and founded in 2011, Mambu leverages its cloud-based SaaS technology to provide financial institutions with a state-of-the-art, end-to-end core banking system. Mambu’s offering provides FIs with a range of solutions including loan and deposit product creation and servicing as well as client relationship management and reporting. With more than $13 million in funding, Mambu includes Acton Capital Partners and CommerzVentures among its investors. Eugene Danilkis is co-founder and CEO.

Finovate Alumni News


  • NF Innova | NFG and Mambu Team Up to Deliver New Digital Banking Solution.
  • Thinking Capital and Equifax Launch ‘Cash Flow Revolution’ for Canadian SMEs.
  • PayPal’s Pledge: CEO Commits to $3 Billion a Year in M&A Spending.

Around the web

  • AI Foundry forges integration partnership with MTS Software Solutions.
  • PaySend joins Astana International Finance Centre (AIFC), a central Asian fintech hub based in Kazakhstan.
  • Thomson Reuters expands strategic partnership with SAP to simplify costs of cross-border transactions.
  • GreatHorn welcomes Vijay Malik as its new Vice President of Engineering.
  • Nanopay plans for B2B cross border and domestic transfer service.
  • Multiple Best of Show winner Trusona launches partner program.
  • Kinetica taps Gary West as Vice President of Sales, EMEA.

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


  • Aixigo Relaunches Digital Portfolio Management System.
  • BeSmartee and LoanFuel Help Make Mortgage Lending Mobile.

Around the web

  • Albania’s Raiffeisen Bank Shqipëri partners with NF Innova to deploy digital self-service kiosks.
  • TransferWise opens office in Hong Kong as part of expansion into Asia.
  • Equifax teams up with digital consent management platform Consents Online to support open banking.
  • Nomis Solutions picks Melbourne as site of new regional headquarters.
  • Efigence provides UI/UX design, development and implementation for new investment platform from Polish home equities broker, CDM Pekao.
  • Braintri discusses the commercialization of its contactless payment technology, Jiffee, at SelectUSA Investment Summit 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


  • Envestnet | Yodlee’s AI FinCheck Takes Financial Wellness to a New Level.
  • Blockbid Partners with LexisNexis Risk Solutions and ThreatMetrix.
  • Ignite Sales and FIS Team Up on Digital Engagement.

Around the web

  • Revolut goes live in Russia courtesy of partnership with QIWI.
  • Clinc brings its conversational AI technology to Turkey’s Isbank.
  • BBVA teams up with IPsoft to enhance service at its call centers in Mexico.
  • interviews BlueVine CEO Eyal Lifshitz on the “real value of invoice factoring.”
  • CFO Tech Outlook names Urban FT a top ten fintech solution provider.
  • NF Innova powering omnichannel banking for Halkbank ad Skopje.
  • Geezeo issues fully-fledged launch of Responsive Tiles PFM 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.

FinovateEurope Sneak Peek: NF Innova

A look at the companies demoing live at FinovateEurope on the 6 through 9 of March 2018 in London. Pick up your tickets today and save your spot.

NF Innova provides a unique banking solution to visionary financial institutions by delivering a rich and seamless customer journey on any digital channel.


  • Omni-channel digital banking platform
  • Full process automation and digitalization
  • Personalized real-time services through a chatbot

Why it’s great
The NF Innova platform is helping banks design unique customer experiences using a chatbot as an assistant in a fully digitalized and automatized loan approval process.


Dejan Petković, CTO
With more than 20 years of experience in software development for the financial industry, Petković is in charge of the definition and direction of products. He oversees innovation and execution at company.

Vladimir Stojić, Technical PreSales Consultant
Stojić has been consulting with banks on end-to-end omni-channel banking for more than 10 years. He is an expert in front-end channels, the “Smart Digital Layer” and digital banking design.

Finovate Alumni News


  • NetGuardians Raises More than $8 Million in Series C.
  • SuperMoney Brings a Kayak-like UX to the Online Borrowing Experience.


  • Check out previews of upcoming FinDEVr London presentations:

Around the web

  • eWise integrates its Aegis data aggregation platform into Backbase’s Open Banking Marketplace.
  • TickSmith introduces new performance-tracking module, Marketplace Advanced Insights.
  • Bank of Sydney replaces its digital banking platform with DigitalAccess from Fiserv.
  • ProActive Budget launches Android app.
  • NF Innova named Market Leader in IDC MarketScape 2017 with iBanking Solution
  • NIIT Technologies appoints Sudhir Singh as CEO Designate
  • Signicat Launches MobileID to Satisfy PSD2 Requirements.

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.

FinovateEurope: Behind the Scenes with NF Innova, Tink, and Vaamo

In another behind-the-scenes view of FinovateEurope 2014, we take a closer look at NF Innova, Tink, and Vaamo.

If you missed the previous two behind-the-scenes features, be sure to check out:


What they do
NF Innova helps banks provide a tailored banking experience for their customers. This Personal Experience Module replaces a company’s static CRM system with an adaptive solution. It responds to individual users’ needs without the need for administrative input. 
By monitoring user behavior on digital touch points, it automatically provides the functionalities that appeal most to each user. The result is a solution that provides a single location for the end user to address all of their financial needs.
  • $1.5 million in revenue in 2013
  • 1 million users in its iBanking suite
  • 42 employees
  • 15 years experience working with banks
The experience
Customers are greeted with a login screen that speaks especially to them. In this example, the customer is greeted with a clean login screen that targets them with a home mortgage.
After logging in, the user sees a financial “command center” where they can view multiple accounts and have access to P2P payment options, alerts, account balance and feed of transactions over time, and more.
In this view, the My Cards section on the right is expanded to detail the customers’ balance across their credit card accounts.
NF Innova’s solution works for both larger and smaller financial institutions. It is working with one of the largest financial institutions in Russia but is mostly focused on the European market. However, it plans to expand to both North and South America later this year.


What they do
Tink is a direct-to-consumer mobile app seeking to reinvent PFM to make managing finances more enjoyable and digestible for ordinary people. Its average user is a 25-year-old female, and in order to appeal to this demographic, Tink makes looking at finances as easy and beautiful and checking your Instagram feed.

The Sweden-based company does its own aggregation, ensuring that all of users’ transactions are accurately represented. This is crucial because, as Tink notes, it is rare for users to manually input or change details about their transactions. Therefore, if the aggregation isn’t done correctly the first time, the user’s view of their finances will never be accurate.

  • 150,000 users 
  • 10 employees
  • Average user logs in 3 times per week
The experience
The middle phone below depicts the user’s financial feed, which has a similar feel to Facebook’s activity feed. Its purpose is to inform the consumer of their spending while not making them feel guilty about it. By viewing spending habits as something positive, Tink encourages users to log in more frequently.
In addition to the general activity feed, Tink also shows the user a close up view of their spending. The phone in the middle depicts spending across simplified categories, and the one on the right is a magnification of what the user spent on a specific category, Food & Drinks.
Tink is live in Sweden on iOS and Android. It plans to launch in other markets in the future.


What they do
Vaamo helps users achieve their personal financial goals by providing them a simple and easy-to-use platform that visually portrays their goals over time.
 It invests the user’s money in international equities, government and corporate loans and real estate. To optimize return on investment, Vaamo uses an investment approach that was developed in collaboration with the Goethe-University in Frankfurt.
If one of the funds changes unexpectedly, the user is prompted to log in and change their goal by either contributing more money or extending the time period.
  • 14 employees
  • More than €500K in capital raised
  • It is in final negotiations in contracting with a bank in Germany to h
    old customer account balances.
The experience
The screenshot below depicts a user’s view of their three goals. With a personalized picture as the background and the progress bar in the middle, it is easy to see each savings goal.
The interface below illustrates the simplicity of setting up a goal. Instead of being burdened with selecting individual funds, the user needs only to select their risk class and how much they are willing to contribute initially.
Users can withdraw funds from their goals at any time. When they opt to withdraw from their account, they are prompted to make a choice about how they want to make up the amount they took from their savings goal (see the red box in the screenshot below).

Vaamo is a paid product that will target 25-45 year olds who earn a range of €3k to €10k per month.

Check out Vaamo’s live demo video from FinovateEurope here.

Stay tuned next week for another behind-the-curtain view of FinovateEurope 2014.

NF Innova Presents its Personal Experience Module to Boost Customer Engagement


This post is part of our live coverage of FinovateEurope 2014.

Making their way to the stage now is the team from NF Innova, a software company that specializes in omni-channel customer interaction products.

Personal Experience Module, a part of iBanking product suite, enables banks to offer their customers a truly unique and tailored user experience. Namely, instead of static, CRM-based rules used for segmentation, this module provides for the adaptive behavior of the entire system, tailoring the user interface for each individual client, without the administration by the bank’s staff. 
It monitors the subscribed products and services, user’s behavior on the digital touch points (portal, mobile devices, etc.), and automatically provides the exact mash-up of functionalities that are most appropriate for the specific customer at the given time and the communication device.”
Presenting Eldar Banjica (CEO) and Dejan Petkovic (Director, Products & Strategy)
Product Launch: iBanking: June 2012, Personal Experience Module: February 2014
Metrics: 42 employees, estimated €1.5 million in revenue in 2013, estimated 1 million named users of iBanking in 2013
Product distribution strategy: Direct to Business (B2B), through other fintech companies and platforms, licensed
HQ: Vienna, Austria
Founded: March 2013

Innovations at FinovateEurope 2014: Part 2

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A week ago we introduced you to half of the companies that will be demoing their technologies on stage for FinovateEurope 2014.

Today we’re providing the second half of our scheduled roster for February.

For more information, and to get your tickets, visit our Finovate Europe 2014 page here.


Luxoft’s iStockTrack is an innovative iPad solution providing mobile banking services for private and premium banking clients.

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Matchi is an innovative matchmaking platform for banks and innovators to establish collaborative relationships that deliver increased ROI for innovators and banks alike.

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Meniga is Europe’s leading white-label PFM provider. The company helps banks improve their businesses through data-mining, cross-sales, and improved retention.


Mobino enables mobile payments for 5 billion people, from any phone, no credit card required.


The Moneyer is the future of online Personal Finance Management.

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Money on Toast delivers independent and whole of the market, FCA-regulated financial advice online via its algorithm-powered adviser.


MyOrder provides a m-commerce mobile app that serves businesses in parking, catering, and entertainment.

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myWishBoard is the first crowdfunding platform for personal dreams and wishes.

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NF Innova’s Personal Experience Module, a part of iBanking product suite, enables banks to offer their customers a truly unique and tailored user experience.


Nostrum Group has built a virtual collection product that automates and optimizes the delinquency management process.

Thumbnail image for nous_net_logo.jpg’s Spark Feed is a real-time financial data service that helps you understand and predict the markets.


payworks is the provider of a mobile POS, Software-as-a-Service platform that lets developers quickly build payment functionality into their shopper and merchant apps.

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PhotoPay’s technology allows users to extract data from any document, paper or electronic, enabling billpay on mobile devices.


Pixeliris’s CopSonic is the first universal contactless mobile payment system powered by our unique technology based on sonic communication.


Plutus Software’s KreditAja credit scoring system is designed to better serve the unbanked and underbanked in Asia.

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SaaS Markets is an enterprise cloud marketplace company whose MarketMaker platform helps FIs deploy their own branded, cloud-based business app store.

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SmartEngine stands for personalization and target marketing. As pioneers in the field of customer loyalty, Smart Engine is a driver of innovation and a leader in personalized target marketing.


SoftWear Finance’s HACU PLATFORM enables banks to provide customers with the best possible user experience on any platform or device.

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SQLI’s Augmented Banking is a new take at Online Banking. It is aimed at positioning a bank at the very center of people’s digital lives.

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Temenos’s Treasury Management Dashboard tablet app has been developed for Microsoft Windows 8 and enables the transformation of treasury operations.


Tink is a free personal finance service that allows you to follow your money, where ever you are.

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Tootpay’s solution is a mobile financial solution for payments, banking, telecommunications, and remittance industries.


Top Image Systems has leveraged its deep recognition and imaging expertise to develop a powerful suite of image processing applications for mobile devices.


Topicus Finan is a software vendor specializing in enterprise-level financial analysis. Its solution enables banks to provide self-service business lending processes for SMEs.


Toshl Finance is a personal finance manager made fun. Find out where your money is going, keep on top of bills and spending, and set up budgets.


Truphone, the innovative mobile operator, introduces the only global network-based recording solution for the Financial Industry.


Trustev provides a new approach to fraud prevention through a real-time, online identity verification platform, which ensures that merchants know exactly who they are selling to.


Yseop Sales Force Productivity Suite and its email writing application (YseMail) support financial advisors through the entire sales cycle.