Finovate Alumni News

On Finovate.com

  • NTT Data Acquires Digital Services Provider NETE.

Around the web

  • Temenos introduces robo-advisor and goal-based investing apps to its Temenos Infinity for Retail Banking.
  • eToro launches the shopping cart portfolio, an investment portfolio with global e-commerce stocks.
  • Taiwan’s Chailease selects NICE Actimize for AML compliance program.
  • Aite Group names Baker Hill NextGen Best-in-Class Commercial Loan Origination System.

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.

SoftBank Showers Latin American Fintechs with Millions in New Capital

SoftBank Backs Latin America

Last week, the international fintech buzz was all about the booming investment in African startups. As you can see in our sub-Saharan Africa section below, that buzz continues as analysts wonder how African fintechs can best leverage their good financial fortunes of late.

But this week, it’s all about Latin America as fintechs from Mexico to Argentina lock in triple digit investments. What’s especially interesting is that two of the week’s biggest beneficiaries – Konfio and Uala – have the same participating benefactor in SoftBank.

The investment in Argentina’s Uala was the first time the Japanese-based firm had funded a company from Argentina, but not SoftBank’s first funding in the region. The firm invested $1 billion in Colombian delivery app Rappi in April of this year. SoftBank has a deeper history investing in Mexican startups, having funded payments startup Clip and used car buying platform Kavak. SoftBank is also especially active in Brazil; the firm led a $140 million round for the country’s e-commerce solution provider VTEX in November.

FinovateEurope Goes to Berlin!

It’s not too early to start thinking and planning for 2020 – especially with our first conference right around the corner in February.

After six years of basing our annual European fintech conference in London, Finovate is crossing the channel and setting up our stage in Berlin, Germany next year. Our new FinovateEurope location will also feature a new event format designed to ensure attendees maximize their time at the conference. Take a look at our developing agenda to see what we have in store February 11th through the 13th.

Here’s our weekly look at fintech around the world.

Asia-Pacific

  • Singapore’s FinAccel, maker of Kredivo, raises $90 million in round led by Asia Growth Fund and Square Peg.
  • Maybank Group, the fourth largest bank by assets in Southeast Asia, goes livewith Avaloq’s banking suite.
  • South Korea announces plans to launch opening banking system before year’s end.
  • Vymo brings AI-powered sales coaching to insurance giant Sompo.

Sub-Saharan Africa

  • Can Africa’s fintech startups learn from the experience of M-Pesa? TechCrunch considers the opportunities now available thanks to recent positive funding trends.
  • A partnership between Smartstream and Union Systems will help African FIs digitize their post-trade environments.
  • QuartzAfrica takes a look at the “niche ecosystems” that are developing amid Africa’s rapidly expanding fintech industry.

Central and Eastern Europe

  • Berlin, Germany-based SME digital banking platform Penta teams up with SumUp.
  • First Investment Bank (Fibank) goes live with the first, PSD2-compliant, open banking platform in Bulgaria.
  • Tinkoff GDRs will be included in MOEX Russia indices next month.

Middle East and Northern Africa

  • Sudan’s Nile Bank is the latest FI to choose Oracle’s Flexcube core banking solution.
  • Temenos teams up with Egyptian National Post Organization.
  • Dubai Financial Services Authority inks fintech pact with Luxembourg’s Commission de Surveillance du Secteur Financier.

Central and Southern Asia

  • DriveWealth helps Indian investors access U.S. stocks via new partnership.
  • Indian banking technology provider TCS Financial Solutions migrates three credit unions to a cloud-version of its TCS Bancs system.
  • Paysend introduces worldwide money transfers to Uzbekistan.
  • Sri Lanka’s central bank examines the possibility of applying blockchain technology to streamline KYC processes for FIs.

Latin America and the Caribbean

  • Uala, a money management app from Argentina, raises $150 million in Series C round led by Tencent and SoftBank.
  • Mexican SME credit assessment specialist Konfio closes $100 million investment from SoftBank.
  • MercadoLibre picks up $125 million loan from Goldman Sachs.

As Finovate goes increasingly global, so does our coverage of financial technology. 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.

Top image designed by Freepik

Finovate Alumni News

On Finovate.com

  • SumUp Partners with German SME Digital Bank Penta to Support Offline Commerce
  • The Winning Ten: Finovate Alums Earn Spots on 2020 Fintech Power 50

Around the web

  • Temenos partners with Canadian financial services company CWB Financial.
  • Motive Partners acquires majority stake in Fiserv’s investment services business, netting Fiserv $510 million in after-tax proceeds.

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.

Temenos Teams Up with Egyptian National Post

Egyptian National Post Organization (ENPO) has selected Swiss technology firm Temenos and its T24 Transact core banking system, replacing 20 legacy systems in the process, reports Alex Hamilton of Fintech Futures (Finovate’s sister publication).

T24 Transact will be deployed in the cloud alongside the vendor’s Infinity digital front office solution. Both will be used to underpin the firm’s drive to meet the Egyptian government’s financial inclusion initiatives.

ENPO has a network of 4,000 branches via its iPost, Post Express, and Post Cars channels. It provides financial services, including current and savings accounts, instant remittances, electronic collection with notification services.

Temenos said that it will be delivering a “single, packaged and upgradeable banking platform” and help EMPI create an “omnichannel, unified teller for all financial and non-financial services.”

“Egypt is a country of great importance for Temenos; we are the leading banking software provider serving over 12 banks in the country and have been in the region for over two decades,” said Andreas Andreades, executive chairman at Temenos.

Egypt’s National Financial Inclusion Initiative, sponsored by Egypt’s Government, aims to promote the use of digital financial services throughout the nation.

“Temenos is committed to enabling Egypt’s Digital Economy Transformation and Financial Inclusion program,” added Andreades. “We believe that ENPO’s end-to-end digital transformation will help them realize this digital vision and promote financial inclusion in Egypt.”

Temenos demonstrated its Connect Mobile Banking solution at FinovateEurope 2015. The company is also an alum of our developers conferene, FinDEVrSiliconValley 2015, where it discussed the evolution of and opportunities in its B2B financial apps marketplace.

Finovate Alumni News

On Finovate.com

  • RightCapital Inks Strategic Partnership with Financial Advisor Association

Around the web

  • Envestnet | Yodlee forges data sharing agreement with JP Morgan Chase.
  • Temenos partners with CWB Financial Group.
  • DriveWealth teams up with SBI Thai Online Securities, bringing access to U.S. stocks to Thai investors.
  • Open banking platform Tink announces expansion to Portugal and Italy.
  • New partnership with Smart Pension will enable Revolut to offer its business customers the ability to automate monthly pension contributions.
  • Artivest announces new partnership with Wellington Management.
  • Paysend introduces worldwide money transfers to Uzbekistan.
  • Jumio takes home top honors in the “Software Security Enterprise Product of the Year” category at the 2019 Best in Biz Awards.
  • Finastra inks deal with Pancreta Bank of Greece to deploy its Fusion Risk solution to help automate regulatory reporting.

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

  • Zopa Raises $182 Million En Route to Full Bank Launch
  • Banks Shift to Automation in 2020

Around the web

  • Fenergo teams up with PwC to provide KYC compliance and client onboarding as managed services.
  • SumUp forges partnership with German fintech Penta which will offer the company’s card reader to its customers.
  • Personetics joins Amazon Web Services (AWS) Partner Network (APN) Global Startups Program.
  • Temenos inks partnership with Egyptian National Post Organization.
  • Maybank Group, the fourth largest bank by assets in Southeast Asia, goes live with Avaloq’s banking suite.
  • Installment payment specialist Splitit partners with smart bed solution provider ReST.
  • SoFi scores New York BitLicense, which will permit the company to offer crytocurrency trading services in the state.
  • Jack Henry to provide a comprehensive technology upgrade, including deployment of its SilverLake core system, for Parkside Financial Bank & Trust.

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

  • Vymo Brings AI-Powered Sales Coaching to Insurance Giant Sompo
  • Klarna Picks Amazon Web Services as Preferred Cloud Partner

Around the web

  • Trusted digital identity specialist Signicat partners with payment information service SurePay.
  • 24sessions opens doors at its first regional office in Paris, France.
  • Revolut for Business introduces support for GBP Direct Debits.
  • eXate joins the first cohort of the Velocity Birmingham Fintech Hub.
  • Temenos appoints Michelle Tea as Managing Director for Australia, New Zealand, and the Pacific islands.

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

  • BlueVine Raises $102.5 Million in New Funding
  • Aerospike Raises $32 Million for NoSQL Data Platform
  • ACH Alert Partners with Apiture to Fight Payments Fraud

Around the web

  • ACI Worldwide announces strategic collaboration with Microsoft to deliver Universal Payments technology via Microsoft Azure.
  • Citi extends its existing contract with Temenos to continue using its Multifonds Global Accounting solution.
  • Arkose Labs and Trusona earn spots on CNBC’s 2019 Upstart 100.
  • Quadient awarded gold for sustainable development.
  • Salt Edge crosses the mark of 600+ integrated PSD2 APIs.
  • ACH Alert partners with Apiture to offer ACH Alert’s fraud detection services to Apiture’s 450+ customers.
  • Bank Mandiri selects Avaloq for wealthtech.
  • Askari Bank selects Finastra’s trade finance 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.

Finovate Alumni News

On Finovate.com

  • Revolut makes use of Open Banking with new Quickbooks integration.
  • Check out a sneak peek of Flybits‘ upcoming demo at FinovateMiddleEast.
  • SparkPost to Acquire eDataSource for Undisclosed Amount.

Around the web

  • Ondot Systems launches new Card App to deliver an “Apple Card-like experience” for end clients.
  • Temenos leverages Kony acquisition to launch Temenos Infinity for ominchannel digital banking.
  • Walmart expands relationship with Green Dot for seven more years. 
  • Experian launches a new Open Data solution: Experian Commercial Acumen.
  • Mambu’s composable banking solution to help new SME bank Recognise enhance the customer experience.

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.

Challenger Bank Lunar Partners with Temenos to Fight Financial Crime

Danish challenger bank Lunar has chosen financial services software provider Temenos to tackle financial crime on its platform, reports Ruby Hinchliffe of Fintech Futures (Finovate’s sister publication).

Ticking boxes such as watch-list screening and fraud prevention, as well as covering anti-money laundering (AML) and Know Your Customer (KYC) services, Temenos will deliver on its comprehensive security promise by integrating with Lunar’s core banking and payments technology.

The mobile-only banking app bought the product, which is called ‘Financial Crime Mitigation’ (FCM) and runs on the cloud, in a bid to “address stringent regulatory demands” and to safeguard its customers and reputation, said Temenos in a statement.

“As a challenger bank it is crucial for us to be in full control and create a scalable and agile setup in the Nordics,” said Lunar’s COO Morten Sønderskov, who says the bank’s choice to go with Temenos will get it “ahead of the curve in financial crime prevention”.

“We are building a Nordic bank from scratch and realizing our vision of becoming a financial Super App,” Sønderskov added.

Founded in 2015, Lunar now has more than 100,000 users and recently secured its European banking license from the Danish Financial Supervisory Authority. The fintech now has plans to extend its offering even further throughout the Nordics.

Temenos said more than 200 banks depend upon its FCM product now. “[We] proudly support the momentum of challenger banks around the world,” said Temenos’ MD for Europe Steen Jensen.

Temenos was founded in 1993 and is headquartered in Geneva, Switzerland. The company demoed its Connect Mobile Banking solution at FinovateEurope 2015. Temenos is also an alum of our developers conference, presenting a discussion on its B2B Financial Apps Marketplace at FinDEVRSiliconValley 2015.

Finovate Alumni News

On Finovate.com

  • Revolut Advances in Asia with Singapore Launch.
  • Finovate Global: Stripe Goes Live in Mexico, Revolut in Singapore; Lidya in Poland.
  • Challenger bank Lunar Partners with Temenos to Fight Financial Crime.

Around the web

  • FinTech Global names Anorak to its list of the top 100 insurtech companies.
  • Onfido joins Dwolla’s partnership ecosystem.
  • Mortgage Cadence to integrate title and appraisal solutions from Covius into its platform.
  • Ondot opens offices in Atlanta, Georgia.
  • Email delivery and analytics specialist SparkPost appoints Sam Holding as Head of International.
  • RightCapital forges strategic partnership with Advyzon.

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

  • Fiserv Unveils its Intelligent Billpay Service, CheckFree Next.
  • Kabbage Joins the Small Business Payments Processing Party.
  • Raising Roostify: Santander InnoVentures Leads Expansion Round.

Around the web

  • Backbase teams up with Payveris to bring integrated digital payments and money movement solutions to FIs.
  • TransUnion appoints communications and IT services veteran Mike Davies as UK Chief Operating Officer.
  • Danish challenger bank Lunar chooses financial crime mitigation technology from Temenos.
  • Finn AI announces expansion of its partnership with Visa beyond Canada.
  • Revolut opens up new offices in Singapore.
  • myGini successfully completes PCI Level 1 compliance audit.

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.