Finovate Alumni News

On Finovate.com

  • Onfido Delivers ID Verification to Mobility-as-a-Service Firm Drover.
  • Segmint powers data analytics for Buzz Points.

Around the web

  • Paysend announces its new stablecoin will be available on the Stellar Network in June.
  • LoanScorecard forges partnership with Calyx Software, merging its SimpleCECL solution with Calyx’s Path LOS.
  • Digital Onboarding will join Best of Show winners Voleo and Neener Analytics as part of the fourth annual FIS Fintech Accelerator program.
  • Chartis Research recognizes FICO as a category leader in AI for Financial Services.
  • Judo Bank of Australia goes live with Temenos’ T24.
  • Xero launches new feature in the Xero Projects iOS app that suggests project time based on geolocation

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.

Paysend Introduces New Payments App

The new mobile app from Paysend, Paysend Link, enables users to send money to anyone, anywhere, with just the recipient’s mobile phone number.

“We are constantly looking for ways to simplify and improve (the) customer experience and make it even easier for the sender to initiate a transaction,” Paysend CEO Ronald Millar said. “Now all they have to do is provide a recipient’s phone number and click send.”

Available in the iOS and Google Play app stores, PaySend Link enables fund recipients to see the incoming transfer and direct it to their Visa, Mastercard, or UnionPay card. The recipient can then immediately use the funds for transactions or withdraw the funds as cash at any ATM. PaySend added that it will make fund transfers directly to bank accounts available “soon.”

Millar pointed out that one of the advantages of PaySend Link is that it doesn’t require the exchange of personal information. “This sets a new standard when it comes to security and safety of customer data and financial information shared across borders,” Millar said. “What’s more – it’s a recipient who decides where they want to direct the incoming transfer to – their bank account, debit, or credit card.”

Founded in 2016 and headquartered in London, Paysend demonstrated its Global Account at FinovateSpring 2018. The account enables users to store fiat and crypto currencies, move funds between different currencies, transfer funds to other Global accounts or crypto wallets, and make purchases online or in-person. The account also comes with a prepaid card (both physical and virtual) to facilitate in person transactions and make cash withdrawals.

Earlier this year, the company announced that it would support money transfers to bank accounts in 34 European countries. Paysend began 2019 with news that it had forged a payments partnership with Vietcombank. The company has raised $20 million in funding, and includes MARCorp Financial and Digital Space Ventures among its investors.

Finovate Alumni News

On Finovate.com

  • WealthForge Unveils Alt Investing Platform Altigo.

Around the web

  • Three Canadian Credit Unions select Fiserv’s core platform.
  • Ripple to power instant global payments for Ria Money.
  • Persistent Systems joins Siemens’ MindSphere Partner Program to bring Industrial IoT solutions to market.

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

  • Thoma Bravo to Acquire Ellie Mae in $3.7 Billion Deal.
  • Welcome to Day Four of FinovateEurope.

Around the web

  • ACH Alert unveils its latest Payment Data Xchange (PDX) service module within its flagship Fraud Prevention HQ platform.
  • Fidor Bank launches chatbot powered by Best of Show winner, Finn AI.
  • Paysend to offer money transfers to bank accounts in 34 European countries.
  • Zopa introduces new chairman Gordon McCallum, who will take over from co-founder Giles Andrew.
  • Kentucky-based Forcht Bank partners with Fiserv to upgrade its credit card program.
  • Finastra appoints Siobhan Byron as SVP and Head of Technology Enabled Managed Services (TEMS).
  • Aire inks reseller agreement with Experian.

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

  • What’s in a Name? New Mastercard Logo Embraces Icon Age.
  • LendingFront Locks in $4 Million in Series A.

Around the web

  • Ledger introduces its Bluetooth-enabled hardware wallet, Ledger Nano X.
  • Matthijs Aler appointed as the new CEO of Ohpen.
  • PaySend launches new money transfer service, PaySendLink.
  • QNB Group to deploy digital cash management solution from iGTB.
  • Klarna teams up with Stripe and Poq to enhance Missguided’s U.K. app.
  • Oliver Weber takes the helm as the new VP of Digital Banking, Switzerland, for Crealogix.
  • Infosys Finacle announces partnership with Qatar National Bank.
  • Benedigo and Adelaide Bank deploys regtech reporting solution from Wolters Kluwer.

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 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.

Sub-Saharan Africa

  • Mastercard partners with Kenya-based PSP, DGO Group, to enable 40,000+ African merchants to accept Mastercard payments.
  • Forbes looks at the founding role of women in Africa’s fintech industry.
  • QuartzAfrica’s review of 2018 begins with a discussion of partnerships between Nigerian fintechs and “global payment giants.”

Central and Eastern Europe

  • Estonian fintech startup CostPocket wins Rockstart pitch competition at the Digital Freedom Festival.
  • Trulioo announces its ID verification services are now available in the Czech Republic and Slovakia.
  • Russia-based Oz Forensics wins Fintech Startup of the Year award at India FinTech Awards 2018.

Middle East and Northern Africa

  • ACI Worldwide helps the National Bank of Kuwait launch Swift’s global payments innovation (gpi).
  • Albawaba asks “What UAE Startups Should Expect in 2019?”
  • Daily Sabah calls 2018: “The Year of Million-Dollar Startups in Turkey.”

Central and South Asia

  • InstaReM introduces new feature to enhance ability to make multi-currency payments to multiple beneficiaries.
  • Pakistan’s CareemPay is the latest fintech to challenge the country’s payment industry.
  • Indian government announces new initiatives to support fintech innovation.

Latin America and the Caribbean

  • Forbes profiles “corporate credit cards for startups” specialist Brex and the potential of the company to expand to Brazil by 2021.
  • Mexico’s El Empresario considers the potential for the country’s fintech sector in 2019. In Spanish.
  • iProUP’s Mundo Fintech looks at the fintech industry in Argentina i the wake of the financial crisis. In Spanish.

Asia-Pacific

  • Chinese ride-sharing company Didi Chuxing launches in-app financial services including credit, financing solutions.
  • PaySend inks payments partnership with Vietcombank.
  • TechCrunch features Chinese online consumer lending platform, 360 Finance.

Top image designed by Freepik

PaySend Inks Payments Partnership with Vietcombank

PaySend, the payments firm, has signed a partnership agreement with Vietcombank Remittance Company (VCBR), the company that holds the majority of all inbound money transfers in Vietnam, reports Henry Vilar of Fintech Futures (Finovate’s sister publication).

Through the deal, the firms will allow money remittances directly to any bank account, Napas card, Visa or Mastercard issued in Vietnam.

VCBR CEO Trinh Hoai Nam said, “Our cooperation will allow any Vietnamese residents to receive money transfers from overseas directly to their bank accounts and Napas cards without a need to visit a branch.”

“There are over four million Vietnamese living outside of Vietnam supporting their friends and families back home,” Ronald Millar, CEO of PaySend, added. “(T)hey will benefit from PaySend’s latest technology and the ability to send money at a fixed low price without any hidden fees or charges.

The service is available to any registered customer via the company’s website or mobile app.

The company’s rapid growth in 2018, reaching 350,000 customers in Europe, has caused it to accelerate plans on developing a bank partner network, and it is now looking to build additional partnerships throughout Asia, Africa and Middle East regions.

PaySend demonstrated its PaySend Global Account at FinovateSpring last year. Accountholders can carry both fiat and crypto currencies, transfer value between currencies, send funds to other accounts or wallets, and make online and offline purchases. Both physical and virtual prepaid cards can be linked to the account to enable a debit card like in-person shopping experience.

Based in London, PaySend was founded in 2015. The company has raised $20 million in funding, and includes Digital Space Ventures and MARCorp Financial among its investors.

Finovate Alumni News

On Finovate.com

  • SuperMoney Teams Up with Lending Platform Best Egg.

Around the web

  • Wealth Migrate nears £1.35 million in its equity crowdfunding campaign on Seedrs.
  • Trulioo announces its ID verification services are now available in the Czech Republic and Slovakia.
  • More than a dozen Finovate alums shortlisted for the 2019 FS Tech Awards to be announced in late March.
  • PaySend inks payments partnership with Vietcombank.

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 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

  • Brazil’s Nubank announces debit options for its digital savings account.
  • Infocorp spinoff Bankingly raises $5.25 million in Series A funding in round led by Elevar Equity.
  • Vocalink to modernize Peru’s electronic payments infrastructure courtesy of new deal with the company’s automated clearinghouse, Cámara de Compensación Electrónica (CCE).

Asia-Pacific

  • UNPay expands QR code payments.
  • Indonesian lending and payments firm, Pohon Dana, picks up investment from Mayapada Group.
  • PaySend launches transfers to bank accounts and Napas cards in Vietnam.
  • Fenergo wins Fintech Exporter of the Year award from Asia Matters.
  • Juvo expands across Asia with regional headquarters in Singapore.

Sub-Saharan Africa

  • Experian purchases South African credit information and analytics firm Compuscan for $263 million.
  • Ecobank partners with MFS Africa to offer cross-platform digital payments to customers.
  • Emergent Technology acquires Ghana-based Interpay Africa.

Central and Eastern Europe

  • Sberbank offers clients new strategies for investment life insurance.
  • Finastra opens new offices in Romania.
  • Backbase powers omni-channel digital services for Poland’s BGŻ BNP Paribas bank.
  • International Bank of Azerbaijan (IBA) to deploy technology from FICO to fight money laundering.

Middle East and Northern Africa

  • UAE and Saudi Arabia launch blockchain-powered, cross-border payments proof of concept.
  • Temenos announces partnership with Tunisia’s Banque de l’Habitat.
  • Token brings open banking to MENA region.

Central and South Asia

  • James Finance, Ocrolus, Hydrogen, and iProov shortlisted for India FinTech Awards 2018.
  • Currencies Direct taps Ripple’s xCurrent for real-time remittances to India.
  • Fintech News Singapore features BankBazaar in its round up of 10 Hot Fintech Startups from India to Watch Closely.

Top image designed by Freepik

Finovate Alumni News

On Finovate.com

  • EVRY Wins $75 Million Contract.
  • Best of Show Winner Voleo to Help Drive Social Trading in Europe.
  • FI.SPAN Raises $4 Million for U.K. and Australia Expansion.

Around the web

  • Sberbank offers clients new strategies for investment life insurance.
  • PaySend launches transfers to bank accounts and Napas cards in Vietnam.
  • Anorak earns a spot in FinSMEs’ Top 10 U.K. Insurtech Startups to Watch in 2019 roster.
  • Intuit relaunches its redesigned ProAdvisor program in the U.S., Canada, and Australia.
  • DataSine and FinovateFall Best of Show winner Golden join the Envestnet | Yodlee Incubator’s latest cohort.
  • API platform provider for banking and insurance NDGIT announces strategic partnership with Synpulse.
  • James Finance, Ocrolus, Hydrogen, and iProov shortlisted for India FinTech Awards 2018.
  • PYMNTS highlights WePay Co-founder Rich Aberman in its latest podcast.
  • Jack Henry & Associates introduces a voice-driven consumer billpay 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.