This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
Finovate Blog
Tracking fintech, banking & financial services innovations since 1994
Transferwisegoes live with new debit cad for customers in Australia and New Zealand.
Finastrainks 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.
Vymohires Rajesh Sabhlok as its new Chief Customer Officer, with an emphasis on Japan and APAC.
BlueRushannounces strategic partnership with InfoSlips.
Artivestnames Martin Bealieu, formerly executive chairman, as new CEO.
Lendio’s marketplace lending franchise program tops $50 million in loans facilitated via its platform.
Ignite Salesunveils the latest version of its customer engagement platform, Ignite Neuro 2.0.
Salt Edgeincreases the total number of connected banks in the E.U. to more than 300.
Experianunveils 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.
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.
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 implementFiserv’sUnified Wealth Platform for core portfolio management.
Personeticsannounces that users of Salesforce and Microsoft CRM platforms will be able to access the company’s data-driven actionable insights via new APIs.
Diebold Nixdorflaunches a new series of self-service, digitally-connected ATMs.
NetGuardiansappoints 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.
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.
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.
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.
IBS IntelligencefeaturesCustomerXPS’ 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.
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’sSME 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
Ron Shevlin looks at the effects PayActiv’s technology has on the paycheck industry.
Thrive Global interviews Lynne Laube, COO and co-founder of Cardlytics.
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.
Token.ioTeams Up with Omnio Group to Boost Open Banking.
Financeit to Power Mobile POS Financing for ServiceTitan.
ExpensifyIntegrates with Southeast Asia Ridesharing Company Grab.
Around the web
The Five Minute Founder podcast interviews Jake Tyler, Finn AI CEO.
STRANDS and adorsys expand their partnership for digital transformation for global financial services.
Signifyd to power fraud protection for Solupay’s NetSuite SuitePayments.
KonyshipsKony Quantum for Microsoft Azure and Kony DBX digital banking suite on Kony Quantum for Azure.
Connect Financial Software Solutions partners with CuneXus to offer the CuneXus perpetual loan automation platform to its credit union clients.
Georg von Brevern joinsIxaris as Chief Legal and Compliance Officer.
Telenor to acquire majority stake in the Finnish telecom operator DNA.
CrypteriumlaunchesCrypterium SX, an AI-based system that ensures all transactions get the best exchange rates available.
Omnio Group and Token.iopartner to deliver open banking and PSD2 compliance to Omnio’s financial institution customers.
Raiffeisen Bank International partners with Feedzai to bring advanced ML to European banking to fight fraud.
Jack Henry’s ProfitStarsunveilsGladiator Total Protect, a suite of managed IT, network security, and compliance services to enhance banks’ cybersecurity and compliance 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.
UK-based GBG Acquires IDology in $300 Million All-Cash Deal.
NetGuardiansTeams Up with Swiss Wealthtech Pictet to Fight Fraud.
FinastraBrings its Core Banking Technology to Saudi Arabia.
Around the web
BBVAunveils first blockchain-supported structured green bond.
StrandsintroducesEngager 2.0, the newest edition of its AI and machine learning powered financial insights generator.
Avaloq’s banking suite goes live with the Austrian division of international private banking and asset management group, LGT.
IKO, the mobile app co-developed by Braintri for PKO Bank Polski, wins first place in worldwide ranking of mobile apps published by British Retail Banker International for second consecutive year.
Baker Hillearns nomination for The Best Tech in Indiana in TechPoint’s 20th annual Mira Awards.
CardFlight’sSwipeSimple now enables more than 50,000 merchants across all 50 states of the U.S.
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.
Sub-Saharan Africa
Ten African subsidiaries of Societe General to benefit from enhanced payment processing capabilities courtesy of new partnership with HPS.
South African challenger bank TymeBank moves toward a formal launch in late February.
The IMF blog reviews the prospects for fintech innovation in Sub-Saharan Africa.
Central and Eastern Europe
Fintech Futures interviews Pavel Novak, CEO of Czech Republic-based P2P lender, Zonky.
Saudi Arabia banking regulator opens regulatory sandbox to test fintech solutions.
Central and South Asia
State Bank of India to help finance digital invoice discounting marketplace, Invoicemart.
The Daily Star considers the “promise of fintech” for Bangladesh.
Reliance Realty announces plans for a fintech center in Navi Mumbai, India.
Latin America and the Caribbean
PYMNTS.com looks at the Mexican government’s efforts to leverage fintechs to help make it easier and less expensive for Mexicans living abroad to send money home.
Brazilian SME lender Adianta raises $2.18 million ($8 million reals) in round led by DGF Investimentos.
Colombian fintech Open Vector signs memorandum of understanding (MoU) to support development of open banking in South America.
Asia-Pacific
Ant Financial to acquire UK currency exchange firm, WorldFirst in $700 million deal.
Singapore’s United Overseas Bank (UOB) to debut its digital bank, TMRW, in Thailand.
Visaannounces plans for an innovation center in South Korea.