Settle Launches Mobile App in Croatia; Sr. Pago Partners with American Express

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

  • RISQ Teams Up with Aion Digital to Boost SME Lending in MENA.
  • ACI Worldwide teams 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 highlights Vymo 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

  • Settle launches 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.

Top image designed by Freepik

RISQ Teams Up with Aion Digital to Boost SME Lending in MENA

A new partnership between next generation deposit mobilization platform Aion Digital and RISQ Intelligent Financial Software will bring integrated, AI-enabled digital commercial lending to banks in the MENA region.

“With Aion Digital we found a partner which enables us to fully digitize the commercial lending experience,” RISQ CEO and co-founder Michael Jesse said. “Most banks have already digitized their retail banking and the next step is to do the same for SME and commercial banking,” he explained. “Our combined platform is the right fit for the Middle East and the North Africa (MENA) market.”

An alum of FinovateAsia, FinovateAfrica, and FinovateMiddleEast, RISQ provides a variety of digital solutions for banks and financial services companies. The company offers banks a wholesale banking solution that supports treasury, FI, and corporate lending. Its partnership with fellow Finovate alum CRIF enables it to work with financial services firms to enhance their commercial credit assessment processes – from initial data collection through loan contract generation and reporting.

The new solution from RISQ and Aion Digital will leverage Aion’s portal to onboard SME loan applicants, and then use RISQ’s loan processing technology to conduct a comprehensive credit analysis. The entire process from data collection and scoring to loan approval and automatic contract generation is managed by RISQ, which also takes care of servicing the loan, providing annual reviews, collateral revaluation and, if necessary, loan extensions or termination.

A digital mobile platform for lifestyle banking, Aion Digital helps entrepreneurs in the GCC (Gulf Cooperation Countries) region build digital banks. With technology designed to work seamlessly with legacy core banking systems, Aion launched its borderless banking solution in April. Earlier this month, the company announced a partnership with the Open Bank Project to provide Bahrainian banks with an API management solution, API catalogue, and API portal with a sandbox environment to help promote fintech innovation and development. Aion Digital was founded in 2017, and is headquartered in Manama, Bahrain. Ashar Nazim is CEO.

Headquartered in Dubai, UAE, RISQ company won its first client, Emirates NBD, within six months of its founding in 2016. Emirates NBD went live with RISQ | FI, RISQ’s all-in-one solution for financial institutions, four months later, and has since rolled out the technology to all its global branches.

Finovate Alumni News

On Finovate.com

  • RISQ Teams Up with Aion Digital to Boost SME Lending in MENA.
  • More Than $1.8 Billion Raised by 29 Alums in Q2 2019.

Around the web

  • Blockchain startup up Saga to deploy treasury management tech from FIS.
  • Deutsche Bank partners with Finantix to enhance its Wealth Management division’s onboarding and KYC processes.
  • Xignite joins the Snowflake Data Exchange, the first market data vendor to do so.
  • Endor co-founder and CEO Dr. Yaniv Altshuler talks about his background in the crypto space with CryptoNewsZ.

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.

FinovateAfrica Sneak Peek: RISQ

A look at the companies demoing live at FinovateAfrica on November 27 and 28, 2018 in Cape Town, South Africa. Register today and save your spot.

RISQ empowers corporate/SME banking divisions with a solution that combines an efficient platform with intelligence, data integration, and AI, presented in a radically intuitive user experience.

Features

  • Manages complex credit decisions with ease
  • Provides integrated analytics and AI components to support the process
  • Integrates “out-of-the-box” with multiple external data repositories

Why it’s great
RISQ | corporate lending powered by CRIF puts the business banking user in the driver’s seat, giving them a 360-degree visibility of every credit decision in real-time.

Presenters

Michael Jesse, CEO and Co-Founder
Jesse has met with over 150 banks in 35+ countries as part of various management roles. This unique insight was channeled into RISQ to create a radically new approach to financial software.
LinkedIn

 

Ozan Vakar, CTO and Co-Founder
Vakar, being an entrepreneur for over 25 years in the financial services industry, has the unique capability to transform a business requirement into a software solution that exceeds clients’ expectations.
LinkedIn

Finovate Alumni News

On Finovate.com

  • Thought Machine Announces Strategic Partnership with Lloyds Banking Group.

Around the web

  • OutSystems announces its partner of the year awards.
  • A €5.5 billion independent French bank will deploy Ambit Focus, a regulatory reporting as a service solution from FIS.
  • eToro invests $1 million into cryptocurrency experiment, GoodDollar, designed to reduce wealth inequality.
  • Dell Small Business’ BetaKit interviews Finn.AI co-founder and COO, Natalie Cartwright.
  • Signicat launches new B2B document signing solution, Signicat Business Signature.
  • Backbase names Capgemini its Global Solution Partner of the Year.

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.

FinovateAsia Sneak Peek: RISQ

A look at the companies demoing live at FinovateAsia on October 29 and 30, 2018 in Hong Kong. Register today and save your spot.

RISQ empowers corporate banking divisions with a solution that combines an efficient platform with intelligence, data integration, and AI, presented in a radically intuitive user experience.

Features

  • Manages complex credit decisions with ease
  • Offers integrated analytics and AI components to support the process
  • Integrates “out of the box” with multiple external data repositories

Why it’s great
RISQ | Corporate Lending powered by CRIF puts business banking users in the driving seat, giving them 360-degree visibility of every credit decision in real-time.

Presenters

Michael Jesse, CEO
Jesse has met with over 150 banks in 35+ countries as part of various management roles. This unique insight was channeled into RISQ to create a radically new approach in financial software.
LinkedIn

 

Ozan Vakar, CTO
Vakar, being an entrepreneur for 25+ years in the financial services industry, has the unique capability to transform a business requirement into a software solution exceeding clients’ expectations.
LinkedIn

Finovate Alumni News

On Finovate.com

Around the web

  • iSignthis announces its Tier 1 JCB card acquiring service is now live in the EU/EEA.
  • CallVU to provide advanced biometric authentication technology to international credit card provider.
  • Jumio reports sales growth of 130% year over year for the first three quarters of 2018.
  • Capsilon teams up with Home Point Financial to streamline loan process.
  • The latest upgrade of SecureSafe features desktop encryption. In German.
  • NICE Actimize launches X-Sight, a financial crime risk management platform-as-a-service solution.
  • Alloy and Socure partner to automate digital identity verification and onboarding for financial institutions.
  • PayStand expands operations to Mexico, forms regional partnership with StartupGDL.
  • Tinkoff Bank adds 26 new currencies for its Black Card customers.
  • Identitii launches Overlay+ to enable Know Your Transaction. 
  • Jack Henry & Associates acquires BOLTS Technologies for its digital account opening 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.

FinovateMiddleEast Sneak Peek: RISQ

A look at the companies demoing live at FinovateMiddleEast on 26 and 27 of February in Dubai, U.A.E. Pick up your tickets today and save your spot.

RISQ empowers corporate banking divisions with a solution that combines an efficient platform with intelligence, data integration, and AI, presented in a radically intuitive user experience.

Features

  • Manages complex credit decisions with ease
  • Features integrated analytics using AI components to support the process
  • Integrates “out of the box” with multiple external data repositories

Why it’s great
RISQ | Corporate Lending Powered by CRIF puts the business banking user in the driver’s seat, giving them a 360-degree visibility of every credit decision in real time.

Presenters

Michael Jesse, CEO
Jesse has met with over 150 banks in 35+ countries as part of various management roles. This unique insight was channelled into RISQ to create a radically new approach in financial software.
LinkedIn

 

Ozan Vakar, CTO 
Vakar, being an entrepreneur for over 25+ years in the financial service industry, has the unique capability to transform a business requirement into a software solution exceeding clients’ expectations.
LinkedIn