Finovate Alumni News

On Finovate.com

  • Nordigen, Sensibill Earn Spots in Fintech Europe’s Incoming Cohort.
  • Jumio Unveils Automated AML Screening Solution.
  • Community Access from Urban FT Brings Digital Tools to Small Banks.

Around the web

  • PayPal teams up with JP Morgan Chase to offer instant transfer option.
  • Coinbase’s Custody service completes its first over-the-counter trade directly from offline storage.
  • HackerOne announces detecting vulnerabilities in up to 43 digital asset projects.
  • Ping Identity wins the DeveloperWeek 2019 Devies Award and the Info Security Global Excellence Award.
  • The Paypers interviews Modo CEO and founder Bruce Parker.

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.

PayPal in Argentina; Temenos Backs African Challenger Bank

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.

Latin America and the Caribbean

  • PayPal invests $750 million in Argentina-based e-commerce company MercadoLibre.
  • First Data to acquire Brazilian electronic funds transfer (EFT) solution provider Software Express.
  • NCR, Bluefin, and Powertranz team up to support POS card processing for Caribbean quick serve restaurants.
  • BlueRush deploys its Individeo platform with a large Colombian bank courtesy of a partnership with Bee Concept.
  • The Wall Street Journal looks at how global FIs are gaining interest in the Latin American alternative lending market.

Asia-Pacific

  • Experian launches Singapore-based incubator, Experian X Labs.
  • South Korean crypto company Kakao raises $90 million via private coin offering.
  • Thai Stock Exchange to launch a digital asset exchange next year.

Sub-Saharan Africa

  • Front office and core banking technology from Temenos to drive digital revamp for African challenger bank, Vista Bank.
  • Financial Software and Systems takes 46% stake in South Africa’s Ecentric Payment Systems.
  • South Africa’s second largest retail bank, Capitec, extends its partnership with ACI Worldwide.
  • ThreatMetrix teams up with Blue Turtle Technologies to help market its fraud prevention solution to customers in Africa.

Central and Eastern Europe

  • Tinkoff Bank reports 2018 highlights including launch of new mortgage app, a joint P2P money transfer offering with Sberbank, and more than 2.7 million new active credit customers.
  • iSignthis Inks Banking and Payments Deal with Ibanera.
  • Bulgaria-based Software Group scores €18 million loan from Europe Investment Bank.
  • EU Startups features lending platform Inlock its look at 10 Hungarian startups to look out for in 2019.
  • Bulgaria’s Municipal Bank to deploy new core and payments solutions from Oracle.

Middle East and Northern Africa

  • Dubai International Financial Center (DIFC) launches $10 million fund for fintech startups in the MENA region.
  • Commercial Bank of Qatar joins R3.
  • Credit scoring solution provider Creditinfo opens regional hub in Muscat following new strategic partnership with the Central Bank of Oman.

Central and South Asia

  • ArthaYantra wins Fintech of the Year (India) at The Asset Triple A Digital Awards.
  • Africa’s Naspers plans to spend $1 billion on investments in Indian fintechs.
  • Standard Chartered’s SC Ventures division to launch digital platform for Indian SMEs.

Top image designed by Freepik

Finovate Alumni News

On Finovate.com

  • IBM Debuts Blockchain Network for Cross-Border Payments.
  • Finovate Global: PayPal in Argentina; Temenos Backs African Challenger Bank.

Around the web

  • Envestnet to acquire PIEtech, maker of MoneyGuide, in $500 million deal.
  • HooYu partners with online lottery betting operator, Lottomart, to help the Gibraltar-based firm meet AML requirements.
  • Wipro launches its AI and machine learning-powered accounts payable, KYC, and other solutions on Amazon Web Services.
  • Polish neo bank Nest Bank unveils new lifestyle services module, Finanteq’s SuperWallet, to its mobile banking app.
  • FindBiometrics interviews Biometric Signature ID CEO, President, and founder, Jeff Maynard.

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

  • Stash Scores $65 Million; Launches Stock-Back Rewards.
  • TickSmith Teams Up with CanDeal to Power DataVault Innovations.
  • First Wave of Demoing Companies for FinovateSpring Revealed.

Around the web

  • Aerospike launches suite of add-on modules, Aerospike Connect, to make it easier for businesses to integrate the company’s database.
  • Identitii renews its partnership with HSBC Global Services (UK).
  • Onfido appointed to the FIDO Alliance Board of Directors.
  • ACI Worldwide announces the extension of its partnership with South Africa’s Capitec Bank.
  • IdentityMind Global to support Koi Trading’s AML Compliance-as-a-Service offering.
  • Gusto appoints Square’s former Head of Information Security Fredrick Lee as its new Chief Security Officer.
  • PayPal adds instant transfer feature for bank accounts.
  • Insuritas and ReliaQuote partner to offer ID theft protection to 10 million consumers.
  • Fenergo enables financial firms to digitally visualize risk in fight against financial crime.
  • GroundFloor partners with Dwolla to make payments more efficient for borrowers and investors.

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

  • Fiserv Helps NationalLink Maximize Smart Safe Technology.
  • Mastercard to Acquire Digital Commerce Fraud Fighter Ethoca.

Around the web

  • Carsharing firm HyreCar leverages identity verification technology from Mitek for its mobile onboarding app.
  • PayPal invests $750 million in Argentina’s e-commerce company, MercadoLibre.
  • Tinkoff Bank reports 2018 highlights including launch of new mortgage app, a joint P2P money transfer offering with Sberbank, and more than 2.7 million new active credit customers.
  • Best of Show winner Voleo chosen to participate in Netherlands-based fintech research program.
  • ThreatMetrix teams up with Blue Turtle Technologies to help market its fraud prevention solution to customers in Africa.
  • ArthaYantra wins Fintech of the Year (India) at The Asset Triple A Digital Awards.
  • Stash launches Stock-Back, a rewards program to bridge banking and investing.
  • Jack Henry to collaborate with the Zelle Network to launch JHA PayCenter.
  • InComm expands into lottery industry with Linq3 Technologies acquisition.

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

  • ACI Worldwide enhances its UP Merchant Payments solution with the purchase of technology assets from RevChip and TranSend.
  • Onfido to provide identity verification for P2P RV rental marketplace, RVshare.
  • Coinbase enables transactions via PayPal to 32 countries in Europe courtesy of new collaboration.

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

  • Glacier Bancorp Deploys Roostify Powered Digital Mortgage Solution.

Around the web

  • Fiserv Announces Plans to Acquire First Data in $22 Billion Deal.
  • Forrester names CREALOGIX as a leader in the Now Tech: Digital Banking Engagement platforms, Q4 2018.
  • Worldpay and Revel Systems announce enhanced partnership to provide consolidated POS and payments solution.
  • International bookmaker and gaming operator SKS365 picks ARIC Fraud Hub from Featurespace for real-time fraud protection.
  • PayPal appoints marketing executive Allison Johnson to EVP and Chief Marketing Officer.
  • Forbes features iProov in article discussing identity and blockchain technology.
  • FICO teams up with electronics payments specialist Conductor to support payment card fraud protection in Brazil.

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

  • New Investment for LendUp Spurs Credit Card Spin Off.

Around the web

  • Klarna announces collaboration with classic watchmaker Daniel Wellington.
  • Legal & General to deploy NICE’s robotic process automation (RPA).
  • HP forges partnership with PayPal to provide payment processing for its new POS system, Engage One Prime.

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.

PayPal Chooses Core Banking Technology from Temenos

PayPal has selected Temenos T24 core banking system, delivered in the cloud, reports Henry Vilar of Fintech Futures (Finovate’s sister publication).

The system will support several of PayPal’s businesses across multiple geographies, namely the U.S., U.K., Germany, and Australia.

Temenos said this signing is important for the firm, as it highlights its momentum in the U.S. market with banks and disruptors. Earlier this year, it inked two deals with U.S. banking challengers, Varo Money and Grasshopper Bank.

It is understood that PayPal was first looking to get a new core system back in 2014, but halted the project as it spun off from eBay.

At that time, it was considering the FIS Profile system, according to FinTech Futures’ sources. (Incidentally, FIS has recently beat Temenos to a core banking tech deal at MUFG Union Bank in the U.S.)

In other recent news, the U.K.’s Competition and Markets Authority (CMA) is snooping around and says that PayPal’s takeover of Swedish start-up iZettle could lead to higher prices or reduce the range of services for customers.

Elsewhere, Volt, a new challenger bank in Australia, recently went live on Temenos T24. Happy days for the supplier.

PayPal made its most recent Finovate appearance at FinDEVr Silicon Valley 2014, presenting a workshop titled Making Payments Fun and discussing its PayPal/Braintree Developer program. Temenos is also an alum of our developer’s conference, introducing its B2B Financial Apps Marketplace as part of FinDEVr Silicon Valley 2015.

Both PayPal and Temenos have demonstrated their technologies on the Finovate stage: PayPal at FinovateEurope 2012 and Temenos at FinovateEurope 2015.

Finovate Alumni News

On Finovate.com

  • De Novo for the New Year: Mi BANK Teams Up with Fiserv.

Around the web

  • Sberbank enables users of its Sberbank Online app for Android to apply for loans without visiting a bank office.
  • National Bank of Kuwait (NBK) unveils SWIFT Global Payments Innovation (gpi) services courtesy of partnership with ACI Worldwide.
  • PayPal chooses Temenos T24 core banking in the cloud to support its operations in the U.S., the U.K., Germany, and Australia.
  • Russian MVNO Tinkoff Mobile now covers 43 regions.
  • Ping Identity reports that the top 12 U.S. banks by assets use its Ping Intelligent Identity Platform.

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.