ACI Invests in Indian Payments; Brazilian Fintech Picks Up $200M from Japan

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.

Central and Southern Asia

  • ACI Worldwide invests in Mumbai, India-based payments innovator, Mindgate Solutions.
  • Pakistan’s Bank of Khyber to deploy new core banking system from Temenos.
  • Infosys earns recognition as a ‘leader’ in the IDC MarketSpace: Worldwide IT Service Management (ITSM) Implementation Services 2019 Vendor Assessment.

Latin America and the Caribbean

  • Brazilian fintech Creditas picks up $200 million investment from Japan’s Softbank, boosting the company’s valuation to $700 million.
  • Crowdfund Insider reveals the 3 Biggest Fintech Trends Shaping Latin America.
  • Amero-Isatek to open its first brick and mortar cryptocurrency exchange in Mexico’s Nuevo Leon, Monterrey.

Asia-Pacific

  • Splitit partners with EFTPay to bring installment payments to merchants in Hong Kong and Macau.
  • Vietnam’s MSB (Maritime Bank) picks SunTec for its customer centricity system.
  • Morocco-based BMCE Bank of Africa to leverage technology from Temenos to drive new corporate banking and trade finance operation in China.

Sub-Saharan Africa

  • Global Finance investigates the rise of Africa’s entrepreneurial class in the private banking industry.
  • Finextra looks at three reasons why fintech is driving change in Africa.
  • Standard Bank introduces new Mastercard-powered ditital trade solution, SimplyBlu, for SMEs in South Africa.

Central and Eastern Europe

  • Wallet, the PFM app from Prague-based fintech BudgetBakers, earns license from Czech National Bank to join the bank’s APIs.
  • New lending platform for “multi-credit” services, Omnicredit, goes live in Romania.
  • Global Finance interviews Alexey Krgulov, Acting Director of Digital Business Platform with Sberbank.

Middle East and Northern Africa

  • Turkey’s Isbank partners with Russian PSP Yandex.Checkout to support e-commerce between the two companies.
  • Disrupt Africa features MerQ, an Egyptian startup that leverages AI to promote financial literacy.
  • AMEinfo publishes its report on banking and fintech in the Middle East and Africa.

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Finovate Alumni News

On Finovate.com

  • Synapse Receives $33m for Backend Fintech.
  • Paysend Reaches Crowdfunding Goal of $5.3 Million.

Around the web

  • Worldline and Trapeze deliver a hands-free payment solution for public transport.
  • Sberbank to Open First Branch in McDonald’s Restaurant.
  • James Hale appointed Head of Product at alternative investing firm Artivest.
  • Finastra named 2019 Microsoft Alliance Global ISV 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.

Finovate Alumni News

On Finovate.com

  • Virtual Card Platform Extend Raises $11 Million. See the company demo its technology live at FinovateSpring in San Francisco in May.
  • PayStand Unveils Automated Receivables Product.

Around the web

  • Lendio franchise opens in Phoenix.
  • Check Point partners with Google’s Cloud Identity to improve zero trust cloud access.
  • Coinbase introduces crypto Visa debit card for U.K. customers via partnership with Apto Payments.
  • Sberbank acquires majority stake in biometrics company Speech Technology Center.
  • Aite Group recognizes Featurespace as “Best in Class” in its latest report on fraud and advanced machine learning platform vendors.

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.

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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 Alumi News

On Finovate.com

  • ID.me Teams Up with VA to Bring Identity Proofing Options to Vets.
  • OmniSci Reports Wide-Ranging Growth in Wake of Rebrand.

Around the web

  • Sberbank customers can now make instant transfers between Sberbank cards and WebMoney wallets courtesy of new partnership.
  • Mobile gifting platform Swych announces it will accept payment in cryptocurrency.
  • Ellie Mae introduces the early adopters of its Integrated Partner Program.
  • Lending Club and U.K. data vendor Brismo team up to provide standardized performance metrics for lending.

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.

Asia-Pacific

  • Digicro receives $300,000 in funding to help fuel its entry to the mobile microfinance market in Cambodia.
  • Monetary Authority of Singapore considers strengthening oversight of bank outsourcing.
  • Fintech News Malaysia looks at the challenges of transitioning toward a cashless society.

Sub-Saharan Africa

  • Quadient announces partnership with South Africa’s Beehive Online Solutions.
  • TechNext looks at the lessons Nigeria can learn from the success of Kenya’s M-Akiba investment mobile app.
  • All Africa reports on the increased use of mobile money in Tanzania.

Central and Eastern Europe

  • Sberbank launches its first IT Demo Day in partnership with 500 Startups.
  • Romania’s Oney Bank partners with Wirecard to bring additional functionality to its mobile app.
  • Sberbank and its subsidiary Sberbank Technology unveil open source-based communications platform for developers, engineers, and architects.

Middle East and Northern Africa

  • Oman-based bank Sohar International integrates biometric authentication into its mobile banking app.
  • Emirates NBD introduces The LaunchPad to help startups connect with angel and early-stage investors.
  • Morocco-based CFG Bank chooses Kony to help drive its digital transformation.

Central and South Asia

  • India’s Federal Bank goes live with its open banking platform.
  • Finca Impact Finance Tajikistan launches search for a new core banking system.
  • Inc.42 features 5 Trends in Fintech You Will See in 2019 in India.

Latin America and the Caribbean

  • Brazil’s largest bank, Itau Unibanco, leverages AI-powered cameras to suspicious behaviors in branches.
  • Scotiabank and The Instituto Tecnológico y de Estudious Superiores de Monterrey (ITESM) unveil new accelerator, Factory A, in Mexico City.
  • Argentina’s Banco Columbia implements Visa Loyalty Solutions en route to its digital transformation.

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Finovate Alumni News

Around the web

  • U.K. based financial services company Smith & Williamson to deploy Avaloq’s SaaS technology.
  • Quadient announces partnership with South Africa’s Beehive Online Solutions.
  • Sberbank and its subsidiary Sberbank Technology unveil open source-based communications platform for developers, engineers, and architects.
  • Roostify adds financial services consultant Marshall Lux to its advisory board.
  • Morocco-based CFG Bank chooses Kony to help drive its digital transformation.

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.

Middle East and Northern Africa

  • Dubai International Financial Centre (DIFC) inks memorandum of understanding (MoU) with U.K.’s Innovate Finance.
  • Emirates NBD leverages technology from Tata Consultancy Services to upgrade its payment system.
  • Al Monitor looks at the “fast-changing landscape” of fintech in Iran.

Central and South Asia

  • Alipay drives Pakistan’s first blockchain-based cross-border remittance service.
  • India’s Reliance Jio prepares to enter the PoS devices market.
  • ZestMoney receives venture debt funding from Alteria Capital.

Latin America and the Caribbean

  • Cosan SA to launch “the Alipay of Brazil,” processing payments and money transfers via smartphone.
  • Latin American PSP allpago expands payment service to Chile.
  • Forbes.com features a glowing review of new legislation in Mexico to regulate fintech.

Asia-Pacific

  • Loanstreet to offer first online platform for motorcycle insurance in Malaysia.
  • Vietnamese payment app, Momo, picks up Series C investment in round led by Warburg Pincus.
  • SBI Holdings and Germany’s Wefox partner to launch new insurtech venture, SBI Wefox Asia, in Japan.

Sub-Saharan Africa

  • London Stock Exchange Group honors African fintech 4G Capital.
  • Business Insider’s Pulse reviews the top lending platforms in Nigeria.
  • South Africa’s Personal Finance shares a few predictions on fintech in South Africa for 2019.

Central and Eastern Europe

  • Take a look at our feature on the rise of fintech in CEE: Finding Fintech’s Future in Emerging Europe.
  • Sberbank partners with Russian supermarket chain Azbuka Vkusa to enable payment by fingerprint.
  • Allianz Bank Bulgaria partners with Software Group to launch a new digital transformation project.

Top image designed by Freepik

Finovate Alumni News

On Finovate.com

  • Process as Product: Middleware and Mambu Strengthen Alliance.

Around the web

  • Nordigen tests its transaction categorization and behavioral analysis capabilities with Nordic financial services firm SEB.
  • NICE Actimize launches financial crime enterprise consulting and advisory practice.
  • Sberbank partners with Russian supermarket chain Azbuka Vkusa to enable payment by fingerprint.
  • Kabbage drives Alibaba.com’s Pay Later program for U.S. consumers.

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.