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Finovate Blog
Tracking fintech, banking & financial services innovations since 1994
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.
Fresh off a successful return to Singapore for FinovateAsia, we are happy to announce that FinovateMiddleEast will be back in Dubai later this month, November 20 and 21. For more information about our upcoming fintech conference in the UAE, visit our FinovateMiddleEast page today.
Middle East and Northern Africa
Saudi Arabia’s Riyad Bank invests $26.7 million in new fintech startup investment program.
BankDhofar signs partnership agreement with Oman-based fintech TelyPay.
Central Bank of UAE considers new fintech office to help drive innovation in financial services.
Central and Southern Asia
A new B2B fintech program for Indian fintechs, FT Slingshot, launched at Hong Kong FinTech Week.
Mumbai, India’s financial capital, is seeking to establish itself as the countr’s fintech hub, as well.
Eight Indian fintechs, including Paytm and OlaMoney, earn spots in the KPMG and H2 Ventures Fintech 100 list.
Latin America and the Caribbean
Mexican cryptoexchange Bitrus introduces new e-wallet geared toward unbanked population.
Creditas, a Brazilian digital consumer lending platform, opens new offices in Valencia, Spain.
Born2Invest looks at the growth of the fintech sector in Argentina.
Asia-Pacific
Tandem Bank, a challenger bank based in the U.K., announces plans for an expansion to Hong Kong.
Vietnam’s TPBank forges agreement with Ripple’s RippleNet.
International visitors to China have access to a new prepaid card service run by Alipay and supported by Bank of Shanghai.
Sub-Saharan Africa
South African fintech iKhokha offers a blunt assessment of the country’s struggle to attract the talent necessary to grow its fintech industry.
The U.K. announces plans to deepen fintech partnership with Nigeria and other Africa nations.
Andrew Takyi-Appiah, CEO of Ghana-based Zeepay, talks about the business of remittances and its recent partnership with Moneygram.
Tinkhires Stripe’s former head of EMEA banking as its new Country Manager for the U.K. and Ireland.
DemystDatamakesEquifax data assets available on its marketplace in expansion of current partnership.
Fenergoearns recognition from Chartis Research in its RiskTech 100 2020 report as a category leader for Client Lifestyle Management and Know Your Customer.
RISQ Intelligent Software International and Compliywin finalist spots in the Monetary Authority of Singapore’s Global FinTech Hackcelerator.
Sensibillnamed a “Company to Watch” in Deloitte’s Technology Fast 50 Awards.
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.
Enterprise blockchain solution company Rippleteamed up with Finastra this week. The two are collaborating to enable Finastra clients to transact with RippleNet partners and make international money transfers.
RippleNet is Ripple’s global payment network that works across 40+ currencies and consists of more than 200 financial institutions. Because RippleNet leverages the blockchain, users are able to track funds, delivery time, and status.
“This partnership will enable Ripple to expand the reach and solutions for our partners, and the footprint of RippleNet while allowing customers to transact directly with each other,” said Marcus Treacher, SVP of Customer Success at Ripple.
Riteesh Singh, Senior Vice President, FMS, Finastra said that the partnership will prove “particularly beneficial” to Finastra’s clients that rely on correspondent banks. That’s because, since RippleNet runs completely on the blockchain, transaction fees are lower than the industry average.
Ripple has offices in San Francisco, New York, London, Luxembourg, Mumbai, Singapore, Sydney, and, as of July, Brazil. At FinovateSpring 2013, company co-founder Chris Larsen debuted Ripple (originally known as OpenCoin). Ripple started this year by surpassing 200 customers and, in June, the company formed a strategic partnership with MoneyGram.
Finastra formed in 2017 from the combination of Misys and D+H after Vista Equity Partners acquired Misys in 2012 and bought D+H in 2017. Misys demonstrated its FusionFabric.cloud technology at FinovateEurope 2017.
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.
More than 60 lenders join the CrediVia marketplace to source commercial loans.
Bill.com now facilitates payments in more than 130 countries and 100+ currencies.
Dwollapartners with TransferMate Global Payments to allow customers and their end users the ability to make and receive international payments.
Quadient parent company Neopost changes its name to Quadient.
InCommpartners with Mizuho Bank to expand J-Coin Pay in Japan.
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.
PNC now usingRipple’s XRP for cross-border payments.
Mortgage Media interviews Steve Butler, founder and GM of AI Foundry.
Flywirepartners with Vietnam Prosperity Bank to simplify international tuition payments for Vietnamese students.
InSpirAVE is being issued its first patent for the technology underlying its savings social network system. The patent is part of the company’s portfolio of patents published internationally.
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.
Klarnaexpands its UK operations with a new office in Manchester.
INTELid.io to integrateValidSoft’s voice biometrics into its private digital identity blockchain.
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
SoFiannounces $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
Strandsstrikes 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.
SoFiAnnounces $500 Million Investment Led by Qatar.
Around the web
Trustlylaunches automated invoice payment solution, Pay Your Invoice.
PayPalreaches $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.
Kofaxlaunches its Intelligent Automation software platform.
Brazilian exchange brokerage, Frente Corretora de Cambio, goes live with cross-border remittance solution powered by Ripple technology.
Fenergounveils a new suite of CLM tools, Digital Client Orchestration.
Trulioonamed 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.
Inc. namesBlend, Kabbage, Lendio, Plaid, Pendo, Signifyd, and Ripple among the best places to work.
Alt Coin Magazine interviews Steven Parker, Crypterium CEO.
Interactions‘ IVA was named the top virtual assistant in Speech Technology Magazine’s 2019 People’s Choice Awards.
Salt Edge Open Banking API now supports eIDAS PSD2 certificates.
NIIT Technologieslaunches Cognitive Service Desk Audit, a tool to help applications understand and interpret user needs through natural communication.
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.
Three Canadian Credit Unions selectFiserv’s core platform.
Rippleto power instant global payments for Ria Money.
Persistent Systemsjoins 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.
