A Look at Fintech Talent in Singapore; Mobile Money Goes Live in South Sudan

Join us in October 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.

For information on how to participate in FinovateAsia as a demoing company, partner, or sponsor, send us an e-mail and we’ll tell you everything you need to know.

Central and Eastern Europe

  • Business Review looks at the potential for French-Romanian cooperation on fintech innovation.
  • Relex, a cryptocurrency-based real estate development investment platform, inks agreement with Belarus Currency and Stock Exchange.
  • Austrian telecom A1 to begin accepting cryptocurrencies as payment.

Middle East and Northern Africa

  • Emirates NBD introduces the first graduates of its fintech sandbox.
  • Qatar Financial Centre (QFC) joins the World Alliance of International Financial Centres (WAIFC).
  • Partnership between NilePay PLC and Zain South Sudan brings the first licensed mobile money service to South Sudan.

Central and Southern Asia

  • An investment of $110 million will help power Tala’s planned expansion into India.
  • Khalti, a fintech startup based in Nepal, wins the United Nations Fintech Innovation Fund.
  • Software Technology Parks of India establishes FinBlue, a Center of Excellence in FinTech, to support emerging fintech startups.

Latin America and the Caribbean

  • Argentina’s largest national private bank Banco Galicia integrates PFM technology from Strands.
  • Citi enables biometric authentication for its institutional clients throughout Latin America.
  • TransferWise announces launch of international transfers from Argentina.

Asia-Pacific

  • Standard Chartered Bank partners with SAP Ariba to bring financial supply chain solutions to companies in the Asia-Pacific region.
  • Japanese messaging platform Line teams up with Nomura to launch online brokerage firm geared toward younger, digitally-oriented traders.
  • Singapore FinTech Association and PwC Singapore look at the demand for talent in the local fintech industry.

Sub-Saharan Africa

  • Ghananian fintech Bezo Money is among the 11 startups to receive an $100,000 investment as part of its graduation from Pan-African incubator MEST.
  • Nigerian startup financial services startup Carbon posts its audited financial information online to promote transparency in the country’s tech market.
  • South African startup Ukheshe raises $500,000 (R7.6 million) for its app that provides payment services for the unbanked.

Top image designed by Freepik

Finovate Alumni News

On Finovate.com

  • Prosper Launches Mobile App for Investors.
  • Identitii’s Overlay+ to Drive Intelligent Data Exchange for HSBC Bank Australia.

Around the web

  • TechCrunch highlights Lighter Capital’s revenue financing-based approach.
  • Strands celebrates 15th birthday with 700 banks in 30 countries.
  • PyraMax Bank selects Insuritas to launch a bank-owned insurance service.
  • Identitii signs new license agreement with HSBC Bank Australia Limited for its Overlay+ platform.
  • PYMNTS considers how Tuition.io helps employees pay down debt faster.
  • Norima Consulting joins the Quadient Partner Advantage Program to provide financial services companies customer journey mapping and communication management.

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

  • Revolut and Xero Partner on Expense Management Tool.

Around the web

  • Transferwise goes live with new debit cad for customers in Australia and New Zealand.
  • Finastra inks cloud banking deal with U.K. neo bank Gravity.
  • Argentina’s largest national private bank Banco Galicia integrates PFM technology from Strands.
  • Overbond to open three AI analytics labs in Montreal, Quebec, Canada to support R&D in bond pricing.
  • Vymo hires Rajesh Sabhlok as its new Chief Customer Officer, with an emphasis on Japan and APAC.
  • BlueRush announces strategic partnership with InfoSlips.
  • Artivest names Martin Bealieu, formerly executive chairman, as new CEO.
  • Lendio’s marketplace lending franchise program tops $50 million in loans facilitated via its platform.
  • Ignite Sales unveils the latest version of its customer engagement platform, Ignite Neuro 2.0.
  • Salt Edge increases the total number of connected banks in the E.U. to more than 300.
  • Experian unveils new configurations of its Ascend Analytical Sandbox.

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.

Brazil’s NuBank Scores $400M; Poland Launches $737M Co-Investment Project

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

  • CompareAsiaGroup picks up $20 million in Series B1 funding in round led by Experian.
  • Standard Chartered Bank’s eXcelerator innovation lab goes live in Shanghai.
  • Finish fintech PearlPay announces partnership with the Philippines’ Rural Bank.

Sub-Saharan Africa

  • Ghana’s Vice President Dr. Mahamudu Bawumia declares his country to be “the undisputed leader in Africa” in terms of innovation in payment services.
  • Oromia International Bank of Ethiopia goes live with core banking software from ICS Financial Systems.
  • Fintech Futures examines the challenger bank scene in South Africa.

Central and Eastern Europe

  • Piotr Jan Pietrzak of ING Bank Slaski looks at the fintech scene in Poland.
  • Romania open banking solution provider Finqware raises €180,000 in seed funding.
  • Poland introduces $737 million co-investment plan to attract private equity firms.

Middle East and Northern Africa

  • Bahrain-based cryptocurrency exchange Rain earns its license from the nation’s central bank, and announces a fundraising of $2.5 million.
  • Egypt’s MoneyFellows raises more than $1 million in pre Series A funding.
  • African payment gateway Innovate 1 Pay opens office in Dubai.

Central and Southern Asia

  • Indian SME lender Indifi raises $21 million in Series C funding.
  • Mashreq Global Services, a subsidiary of Mashreq Bank, teams up with Indian fintechs.
  • India’s biggest mobile payments company Paytm now boasts 10 million customers in Japan.

Latin America and the Caribbean

  • Brazil’s Nubank raises $400 million in funding in round led by TCV.
  • Argentina’s largest national private bank Banco Galicia integrates PFM technology from Strands.
  • Stripe opens office in Mexico City.

Top image designed by Freepik

Finovate Alumni News

On Finovate.com

  • MX Picks Up $100 Million in New Funding.
  • Ocrolus Reels in $24 Million Investment.

Around the web

  • CREALOGIX to power new digital and mobile capabilities for LGT Vestra’s wealth management app and client portal.
  • Strands announces achieving ISO 27001 certification in all offices.
  • Horizon Investments to implement Fiserv’s Unified Wealth Platform for core portfolio management.
  • Personetics announces that users of Salesforce and Microsoft CRM platforms will be able to access the company’s data-driven actionable insights via new APIs.
  • Diebold Nixdorf launches a new series of self-service, digitally-connected ATMs.
  • NetGuardians appoints Swissquote co-founder Paolo Buzzi to its board of directors.

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.

Qatar Backs SoFi; Ripple Powers Cross-Border Payments in Brazil

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

  • SoFi announces $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

  • Strands strikes 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.

Sub-Saharan Africa

  • Ghana’s ARB Apex Bank reups with Temenos.
  • Titan Trust Bank of Nigeria chooses Oracle FSS for its core and digital banking technology.
  • CNBCAfrica profiles South African payments and merchant acquiring solutions provider Crossfin.

Central and Eastern Europe

  • Lithuania fintech Paysera goes live in Romania.
  • Polish “credit of fintech-as-a-service” innovator Symmetrical.ai raises $1.5 million (€1.3m) in funding.
  • Billon Solutions and Microsoft announce partnership with the University of Warsaw to develop academic use cases for DLT technology.

Top image designed by Freepik

Strands Strikes Digital Banking Deal with Tech Mahindra

Fresh off its appearance at FinovateSpring, digital money management software developer Strands has announced a new strategic partnership with Tech Mahindra. The IT services and consulting firm will leverage Strands’ AI- and big data-powered technology and financial services expertise to help its clients enhance the customer experience with more contextual and personalized solutions.

“Our white-label digital money management solutions give financial institutions an edge over the competition, speed up internal processes, and help them reap the benefits of a more engaged relationship with their customers,” Strands CEO Erik Brieva said. He added that the strategic partnership would “accelerate the delivery of tangible business value.”

Strands uses big data and advanced machine learning to provide a range of offerings including personal and business financial management, customer-linked offers, insights-driven analysis with its Engager product, and open banking via its API hub. With more than 600 implementations to date, the company seamlessly integrates its technology into bank’s existing systems and, by giving FIs more relevant insights into their customer’s wants and needs, delivers both relationship and smarter banking at the same time.

Tech Mahindra’s Global Head of Banking, Financial Services, and Insurance, Gautam Bhasin put the partnership with Strands in the broader context of the company’s TechMNxt charter. The charter calls on the company to support a partner ecosystem to facilitate the development of solutions based on “next generation” technologies like artificial intelligence.

“Our collaboration with Strands will further enable us to implement this unique digital financial solution to enhance end-customer experience and faster time to market of products and services by banks, as well as increase return of investment for our customers,” Bhasin said.

A multinational Indian IT, integrated engineering solutions, and BPO provider, Tech Mahindra was founded in 1986 and is based in Pune. With $4.9 billion in revenues in 2018, the firm is a subsidiary of the Mahindra Group, and has more than 121,800 workers in 90 countries. The highest ranked non-U.S. company in the Forbes Global Digital 100 roster last year, Tech Mahindra has more than 900 clients around the world. Chander Prakash Gurnani, who won top honors at the CEO World Awards last fall, is CEO and Managing Director.

In collaboration with Mastercard, Strands demonstrated its SME Cash Flow Manager Enhanced by Mastercard Technology earlier this year at FinovateSpring. The solution gives business owners actionable insights to help them save time and money, as well as the ability to monitor Quickbooks data within their digital banking experience. SME Cash Flow Manager enables financial institutions to offer the kind of digital financial management solutions that will lead to greater engagement between FIs and their SME customers.

Founded in 2004, Strands maintains offices in Barcelona, Spain; Miami, Florida; Buenos Aires, Argentina; and Kuala Lumpur. The company has raised more than $55 million in funding, and includes Dalbergia, Sequel Venture Partners, Indigo Investment Corporation, and Debaeque among its investors.

Finovate Alumni News

On Finovate.com

  • Dashlane Raises $110 Million for Password Security.
  • Strands Strikes Digital Banking Deal with Tech Mahindra.

Around the web

  • Paysend to launch crowdfunding campaign on Seedrs.com.
  • Ghana’s ARB Apex Bank reups with Temenos.
  • Exate Technologies joins OpenFin’s fintech ecosystem.
  • Forbes: PayPal’s Latest Milestone: $10 Billion In Small Business Loans.
  • Atlanta Small Business Network looks at how Fiserv delivers fraud prevention across the globe.

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

  • The ID Co. Lands $2 Million.
  • Finastra Inks New Bank Partners for its Blockchain-Based Lending Platform.
  • ClickSWITCH Raises $13 Million in Series B.
  • masterqueue Closes First Round of Funding.

Around the web

  • Fintech Switzerland lists additiv, finhorizon, and clevercircles on list of wealthtechs offering more than just roboadvisory.
  • Forbes on how Tradeshift is fighting modern day slavery.
  • Mint Life names FamZoo on list of apps to teach kids about money.
  • IBS Intelligence features CustomerXPS’ Clari5 in its latest report.

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.

FinovateSpring Sneak Peek: Strands and Mastercard

A look at the companies demoing live at FinovateSpring on May 8 through 10, 2019 in San Francisco, California. Register today and save your spot.

Strands and Mastercard’s SME Cash Flow Manager is a tailor-made digitalization tool for SME banking using cutting-edge business financial management solutions.

Features

  • Deliver actionable insights and help business owners save time and money
  • Monitor Quickbooks data within digital banking experience
  • Place Mastercard solutions within customer’s digital user journey

Why it’s great
Strands and Mastercard’s joint cash flow solution allows a financial institution to deliver a suite of SME digital finance tools that empower the bank to become the business owner’s trusted advisor.

Presenters

Jay Singer, SVP, Global Small Business Segment, Mastercard
Singer has 20+ years of leadership experience in the payments industry across marketing, portfolio management, and product development. He currently leads Mastercard’s Global Small Businesses Segment.
LinkedIn

Cesar Richardson, General Manager, Strands Americas
Richardson helps banks re-build digital experiences that increase customer engagement, boost online conversion, and unlock the value of consumers’ behavioral data.
LinkedIn