PayPal Goes to China; Dubai Named Top Ten Global Financial Center

Join us next week as our annual Asia-Pacific fintech conference returns to Singapore! FinovateAsia is one of the best ways for fintech startups and innovative industry veterans from the region and around the world to showcase their latest technologies before an audience of C-level decision-makers, venture capitalists, all-star analysts, and more.

FinovateAsia runs from October 14 through October 15, with an additional Summit Day on October 16. Visit our registration page and pick up your ticket today.

Sub-Saharan Africa

  • Finovate alums Hydrogen, Sedicii, Strands, and Wealth Migrate earn finalist spots in the South African Reserve Bank’s Fintech Demo Day.
  • Carbon CEO Chijioke Dozie offers Five Lessons Global Banks Can Learn from African Fintechs.
  • Business Tech highlights 12 of the hottest fintechs in South Africa according to the country’s biggest banks.

Central and Eastern Europe

  • Alior Bank’s Alior Kantor to deploy Efigence’s EFI4 Digital Banking Platform.
  • Deloitte Romania and FintechOS partner to offer banks digital transformation and automation solutions.
  • Sberbank unveils new “Apply for Mortgage” feature on its Sberbank Online mobile app.

Middle East and Northern Africa

  • Dubai earns top ten ranking in the Global Financial Centres Index (GFCI).
  • Boubyan Bank of Kuwait and Zain Telecom team up to launch a digital Islamic bank.
  • Saudi Capital Market Authority (CMA) authorizes financial technology experimental permits enabling three companies to build an equity crowdfunding platform.

Central and Southern Asia

  • Khatabook, an Indian fintech that helps SMEs track and record businesses transactions, raises $25 million.
  • Varanium Capital launches $28 million venture fund focused on Indian fintech.
  • Indian fintechs await regulatory guidelines for deployment of Video KYC technology.

Latin America and the Caribbean

  • OurCrowd to open its 13th global office in São Paulo, Brazil.
  • Colombian small business lender Sempli raises $8 million in Series A funding.
  • EBANX will process payments for Uber in Brazil and other countries in Latin America.

Asia-Pacific

  • PayPal’s Move into China is a Big Deal.
  • Fintech in Asia: From Payments and Lending to the Challenge of Financial Inclusion.
  • InComm partners with Mizuho Bank to expand J-Coin Pay in Japan.

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Finovate Alumni News

Around the web

  • New partnership between Starling Bank and SumUp to provide faster settlement to U.K. merchants.
  • ACI Worldwide unveils its strong customer authentication (SCA) toolbox.
  • Payoneer announces deal with Indian payments processing firm Paytabs.
  • Launchfire’s Lemonade named to 2019 Top Training Companies roster for gamification companies.
  • GoodFirms features bpm’ online among its list of top business process management (BPM) software providers.
  • Insuritas to power digital insurance agency for Marquette Bank.
  • Herald Extra highlights Lendio’s role as a “matchmaker” for small business lending.
  • Flybits to open a New York office in the city’s financial technology hub.
  • W.UP now a member of Five DegreesOpen Banking Marketplace.
  • Personetics opens R&D center in Nazareth.
  • Nvstr earns a spot in the Financial Venture Studio’s incoming cohort.
  • CREALOGIX introduces new Chief Financial Officer Daniel Bader.

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 Alums Honored at PayTech Awards 2019

A handful of Finovate alums were among those earning top honors at the second annual PayTech Awards earlier this month. In categories ranging from e-commerce to real-time payments, four Finovate alums won commendations for their contributions to “excellence and innovation in the payments industry.” Another trio of alums took home “Highly Commended” runner’s up recognition.

We’ve listed those honored alums below along with the categories they competed in and a link to their most recent Finovate/FinDEVr conference demo video.

  • Token – Best Consumer Payments Initiative – video

And here are the alums that earned Highly Commended recognitions.

  • Fiserv – Real-Time Payments Solution Provider – video

The PayTech Awards consists of three categories: Judged Awards, Leadership Awards, and Ovum Payments Innovation Awards. In addition to those alums that won their categories – or earned Highly Commended honors – a few Finovate/FinDEVr alums were also short-listed ahead of the final votes. These companies – along with their category and most recent Finovate/FinDEVr video – are below:

To learn more about the awards – including a look at last year’s winners – visit the PayTech Awards homepage.

CallVU Boosts Mobile Banking in Romania; Fintech Adoption in Colombia Surges

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

  • CIMB Niaga and Liquid Group forge strategic partnership to drive cross-border QR payments between Singapore and Indonesia.
  • Active.Ai, developers of a conversational AI platform for financial services companies, raises $3 million in Series A funding.
  • Dianrong, a Chinese P2P lender, completes its latest funding round. The amount raised was not disclosed.

Sub-Saharan Africa

  • Nigerian lender Kudimoney rebrands as Kuda; picks up banking license from the country’s central bank.
  • Virgin Money South Africa to launch zero monthly fee bank account and low-cost cross border payments via its app.
  • Sixteen companies, fully one-third, in the Inclusive Fintech 50 of early-stage startups working on solutions to advance financial inclusion, hail from sub-Saharan Africa.

Central and Eastern Europe

  • CallVU teams up with Banca Transilvania to boost mobile banking.
  • Romanian consumer app Beez picks up more than $284,000 (€250,000) in new funding.
  • Russia’s Sberbank acquires stake in Islamic charity platform, PayZakat.

Middle East and Northern Africa

  • Egyptian fintech startup Paynas wins Visa’s FinTech pitch-off competition at the Seamless North Africa 2019 conference, taking home a prize of $50,000.
  • Libya’s Yaqeen Bank partners with Oracle FSS to deploy its core platform and digital banking experience.
  • What is the future of the bank branch in MENA? Khaleej Times takes a look.

Central and Southern Asia

  • National Bank of Pakistan partners with financial systems supplier Autosoft Dynamics to automate the branch’s operations in Bahrain.
  • India’s central bank to revisit regulations on the storage of payments data.
  • Could the success of Kenya’s M-Pesa show the way to higher fintech adoption in India?

Latin America and the Caribbean

  • Brazil launches regulatory sandbox for fintech and blockchain-related projects.
  • Colombian consumers are adopting fintech solutions at a faster rate than consumers in any other Latin American country according to the latest survey from EY Global.
  • Celcoin, a Brazilizian fintech that enables users to their smartphone into a hub for reselling mobile phone recharges, earns a spot in the Inclusive 50 list.

Top image designed by Freepik

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.

Top image designed by Freepik

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.