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Finovate Blog
Tracking fintech, banking & financial services innovations since 1994
With St. Patrick’s Day at the beginning of the week and the first day of spring at the end, it feels as if we are truly leaving winter behind us. Cacti are blooming here in the desert southwest and the fintech news —from new offerings in wealth management to the latest innovations in agentic AI—is flowing. Be sure to check back here at Finovate’s Fintech Rundown all week long for updates.
Digital banking
BankDhofarlaunchesNeo Corporate Internet Banking (Neo CIB), its next-generation digital banking platform.
DNERO, a neobank that caters to Latino customers, readies for a March 24 launch.
Digital asset wealth management platform Abraannounces plans to go public via SPAC merger with New Providence Acquisition Corp at a valuation of $750 million.
Sokinlaunches stablecoin capabilities to provide hybrid finance platform unifying digital assets and fiat.
Agentic AI
Lithuanian fintech Chaseit.aiintroduces AI agents to automate loan servicing and call center communications.
Integrated financial management platform for freelancers and gig economy workers, Finom, launches its embedded interest account.
Iwocaintroduces free financial health resources, including its Credit Compass, for small businesses in the UK.
Lending and Credit
Experian launches its AI-powered Experian Virtual Assistant (EVA) to deliver real-time, personalized financial insights and recommendations on financial products such as credit cards, loans, and insurance.
Ocrolusaccelerates automated conditioning for mortgage lenders with full lifecycle management.
Back end technology
FMSI and Applipartner to help credit union branches drive member revenue.
This week’s edition of Finovate Global focuses on fintech developments in countries located in and around East Africa.
Digital banking secures investment in Zambia
Zambian digital banking platform Lupiya has raised $11.25 million in Series A funding. The round—nearly two years in the making—was led by IDF Capital’s Alitheia IDF Fund, and featured participation from INOKS Capital and KfW DEG, a German development finance institution. Lupiya will use the capital to bolster the digital bank’s technology infrastructure, grow its product range, and enter southern and east African markets beyond Zambia’s borders.
Founded by Evelyn Chilomo Kaingu (CEO) and Muchu Kaingu (CTO) in 2016, Lupiya serves unbanked and underbanked communities in Zambia with credit products and digital payment services via its Lupiya Pay offering. The company has partnered with Mastercard to access payment rails to enable digital transactions and is part of the card network’s financial inclusion strategy. Previous investors in the firm include Enygma Ventures, which contributed $1 million to the company’s coffers. Lupiya has opened an additional funding round this year—alongside its Series A—dedicated to scaling its lending business, enhancing its embedded finance offerings, and bringing Lupiya Pay to new markets.
Lupiya was one of the first companies to earn approval from the Security Exchange Commission in Zambia to offer investments through peer-to-peer lending. Launching this service in-country in 2022, Lupiya expanded operations to Tanzania the following year. Lupiya offers personal loans including collateral-backed loans and salary advances, as well as business financing, invoice discounting, and agriloans. Customers can use Lupiya to send and receive funds via mobile money, P2P, or bank accounts.
According to the World Bank, Zambia’s financial inclusion rate has improved significantly in recent years, climbing from 59.3% in 2015 to 69.4% in 2020. Regional disparities are significant, however, with Lusaka Province, home to the capital city, Lusaka, having a financial inclusion rate of more than 87%, with more rural areas having inclusion rates of approximately 40%. The landlocked country shares borders with the Democratic Republic of Congo, Angola, Zimbabwe, Mozambique, Malawi, and Tanzania.
Ethiopia goes live with instant payments
Instant payments are sweeping the globe—and now businesses, communities, and banks throughout Ethiopia will be able to leverage the technology to provide centralized automated reconciliation, new card and e-wallet services, and more.
In partnership with the National Bank of Ethiopia, the country’s national switch EthSwitch has launched Ethiopia’s National Instant Payment System. Powered by BPC’s SmartVista platform, the system was officially introduced in December 2025, and now connects 32 banks, 12 MFIs, three PSOs, and three PIIs. The unveiling of EthioPay-IPS will enable EthSwitch to offer banks and other financial institutions modern payment rails capable of delivering faster and more economical payment transactions. These include account-to-account and wallet-to-wallet transfers, payments with interoperable QR codes, as well as requests-to-pay and alias-based payments that allow users to transfer funds using a simple identifier.
BPC’s SmartVista suite is a modular payment processing solution for banks, financial institutions, payment service providers, and fintechs. The technology combines banking, commerce, and mobility platforms to facilitate digital banking, payment processing, ATM and switching, fraud management, financial inclusion, and more. Founded in 1996 and headquartered in Switzerland, BPC has more than 500 customers across 140 countries.
Established in 2011, EthSwitch is a share company owned by Ethiopia’s private and public banks, as well as the National Bank of Ethiopia, MFIs, PIIs, and PSOs. The organization has a mandate to support the modernization of Ethiopia’s payment system and to enhance financial inclusion throughout the country. This includes EthSwitch’s 2016 initiative to enable the interoperability of ATMs and POS terminals operated by the nation’s banks.
“Our goal is to provide simple, affordable, secure, and efficient digital payment infrastructure to every retail payment provider and through them, to every Ethiopian,” EthSwitch Chief Portfolio Officer Abeneazer Wondwossen said. “With SmartVista, we have built an interoperable nationwide ecosystem for instant payments that is locally governed, future-ready, and open to innovation. This launch is a point of pride for Ethiopia and a milestone for our financial sector.”
Kayko Raises $1.2 million to help SMEs in Rwanda
Kayko, which offers a small business financial management platform for companies in Rwanda, has secured $1.2 million in seed funding. Participating in the investment were Burrow Capital, the Luxembourg Development Agency, and Hanga Ignite by BRD and develoPPP Ventures. The company, founded in 2021 by brothers Crepin and Kevin Kayisire, will use the capital to fortify its infrastructure, expand its data capabilities, and build credit scoring and lending tools based on real transaction data.
Kayko serves more than 8,500 Rwandan SMEs with bookkeeping, inventory, and tax support. The fintech helps boost SME access to credit in a country in which many businesses have incomplete or informal financial records that make it difficult to secure financing or to scale operations. For these and other small businesses, Kayko provides a point-of-sale and business management system that helps them process sales, track expenses, and accept payments, while turning everyday business activity into structured financial data for analysis and insights.
Kayko’s funding news coincides with the Kigali-based fintech securing an Electronic Money Issuer (EMI) license from the National Bank of Rwanda (NBR). “With this license, we move from planning to execution,” Crepin Kayisire said in a statement on the company’s LinkedIn page. “We can now operate regulated payments, merchant wallets, and data-driven financial services that improve access to financing for small businesses.”
Here is our look at fintech innovation around the world.
Sub-Saharan Africa
South African crypto platform Luno introduced crypto and tokenized stock bundle.
Blockchain infrastructure provider Binance and African mobile network operator Africell announced a collaboration to boost blockchain education and digital asset literacy across Africa.
Ethiopia’s national switch, EthSwitch, launched the country’s National Instant Payment System, in partnership with the National Bank of Ethiopia and powered by BPC’s SmartVista platform.
Central and Eastern Europe
The Bank of Lithuania supplemented the electronic money institution (EMI) license for TransferGo Lithuania, enabling the fintech to expand beyond money transfers and payment account services.
Open banking solutions provider Salt Edge and financial management platform NoCFO teamed up to bring Pay by Bank to SMEs in Germany and Finland.
US-founded banking and investment platform Fasset announced plans to enter the Pakistan market via a partnership with Habib Rafiq Limited (HRL).
Latin America and the Caribbean
Uruguayan fintech dLocal partnered with online English-language platform Open English to introduce a new payment method, Bre-B, for students in Colombia
Visainked a deal to acquire Argentinian payment companies Prisma Medios de Pago and Newpay from private equity firm Advent International.
Peru’s Banco de la Microempresa selectedTemenos SaaS to modernize its core banking infrastructure.
We’re fresh off an outstanding FinovateEurope conference in London (meet our Best of Show winners!) and already gearing up for our Spring event in San Diego. In the meanwhile, here’s a look at some of the fintech headlines that have crossed the wire in recent days. Be sure to check back here at the Fintech Rundown all week long for updates!
Digital banking
Oklahoma-based Blue Sky Bank partners with Jack Henry, deploying the fintech’s Banno Digital Platform along with other integrated solutions.
UK-based embedded insurance company Wriskacquired real-time financial intelligence platform Atto to build an integrated embedded finance platform.
DeFi
Payoneerteams up with stablecoin infrastructure platform and Stripe company Bridge to support its launch of new embedded stablecoin capabilities.
Netherlands-based paytech and stablecoin issuer Quantozteams up with Visa, enabling the firm to issue irtual Visa debit cards as serve as a BIN-sponsor for third-party fintechs and platforms.
Welcome to Finovate’s final Fintech Rundown of 2025! DeFi and crypto have dominated the fintech news in recent weeks, with some companies in the space launching stablecoins and stablecoin-related services, while others announce expansion into new markets. We will update this post over the next several days to keep you informed on the final big headlines of the year.
Visa has launched USDC stablecoin settlement in the US, enabling issuers and acquirers to settle transactions in Circle’s dollar-denominated stablecoin using blockchain infrastructure.
Cross River Bank and Lead Bank are piloting the capability to deliver faster, always-on settlement and improved treasury efficiency while remaining compatible with existing payment rails.
The move signals stablecoins’ shift from experimentation to bank-ready infrastructure.
Visaunveiled today that it has launched stablecoin settlement in the United States. The payments giant is partnering with Circle’s USDC dollar-denominated stablecoin to enable US issuers and acquirers to settle with Visa in USDC.
USDC settlement relies on blockchains to offer issuers faster money movement and seven‑day settlement windows that will improve both speed and liquidity, modernized treasury management with automated treasury operations, and interoperability between traditional payment rails and blockchain-based payments.
“Visa is expanding stablecoin settlement because our banking partners are not only asking about it— they’re preparing to use it,” said Visa’s Global Head of Growth Products and Strategic Partnerships Rubail Birwadker. “Financial institutions are looking for faster, programmable settlement options that integrate seamlessly with their existing treasury operations. By bringing USDC settlement to the US, Visa is delivering a reliable, bank‑ready capability that improves treasury efficiency while maintaining the security, compliance, and resiliency standards our network requires.”
Piloting the launch are Cross River Bank and Lead Bank, which are leveraging the Solana blockchain to settle with Visa in USDC. Visa is planning broader availability in the US in 2026. Cross River Bank, a leading infrastructure provider that offers embedded financial solutions, reinforces the importance of true interoperability. “Fintech and crypto innovators increasingly ask us to bring stablecoins into their existing product suite,” said Gilles Gade, Founder, President and CEO of Cross River. “A unified platform that natively supports both stablecoins and traditional payment networks is the foundation for how value will move globally. As one of the first US banks to enable USDC settlement with Visa, we’re demonstrating how a tech-forward, deeply integrated banking partner can connect blockchain networks and legacy systems at scale.”
Today’s announcement comes the same week that Visa Consulting & Analytics launched its Stablecoins Advisory Practice to offer education and guidance on market fit and implementation. VyStar Credit Union and Pathward are early participants in the program, which they will use to find new opportunities in the $250 billion stablecoin market.
Visa, which became one of the first major payment networks to settle in stablecoins in 2023, has been positioning itself at the forefront of the stablecoin revolution. Last month, the company’s monthly stablecoin settlement volume passed a $3.5 billion annualized run rate threashold.
Visa’s move to bring USDC settlement to the US shows that the early momentum in stablecoin activity this year is set to continue into next year as the payment rail moves from experimental to a bank-ready settlement tool. By embedding stablecoin settlement directly into its network, Visa is making programmable, always-on settlement a practical option for traditional banks seeking to improve liquidity management, shorten settlement cycles, and bridge existing payment rails with blockchain infrastructure.
Dutch insurtech RISK has acquired Amsterdam-based savings app Dyme. Terms of the transaction were not disclosed. The deal will enable Dyme to boost its presence in the Netherlands as well as enter the German market. Courtesy of the agreement, both Dyme’s brand and management team will remain intact.
“From being featured on Dragon’s Den to becoming one of the largest finance apps in Europe and reaching profitability, our mission has always been the same: helping people take control of their money,” Dyme noted on its LinkedIn Page. “This step opens up some great opportunities for Dyme and its customers: expand the product, especially with great insurance packages and service, reach millions more people through the RISK ecosystem, and take Dyme international, beginning with Germany.”
Dyme currently has more than 600,000 consumers who have linked their bank accounts to the Dyme platform. The company’s app serves as a personal financial assistant to help users lower costs, and uses smart algorithms to automate subscription cancellations and provide financial guidance. Dyme announced its first profitable quarter in 2024, and has said that it has helped users save more than €40 million since inception. The acquisition will combine RISK’s market expertise and technological platforms with Dyme’s user-friendly financial solutions that enable users to easily manage their expenses, budgets, and more.
RISK offers an advanced IT platform, SureBase, that assists financial advisors, online labels, and insurers in product comparison and distribution. SureBase, according to RISK CEO Harm Vollmuller, will serve a key base for the new synergy between RISK and Dyme. “By combining that with our platforms and market knowledge, we can reach people at a time when financial breaking space is more important than ever,” Vollmuller said.
“This new facility is a testament to the trust and confidence Brand New Day Bank has placed in Factris and our vision for SME financing,” Factris CEO Brian Reaves said. “As we continue to scale across Europe, this partnership ensures we can meet the increasing demand for alternative financing and provide SMEs with the liquidity they need to thrive.”
Founded in 2017 and headquartered in Amsterdam, North Holland, Factris specializes in invoice factoring for small and medium-sized enterprises. The company offers selective factoring to enable companies to decide which specific invoices to factor, fund availability within 24 hours of invoice submission, credit insurance to protect against customer non-payment or bankruptcy, and debtor management for collections and account receivables.
Brand New Day Bank is a Netherlands-based digital-first, challenger bank and fintech that began operating in 2010. The financial institution serves both individuals and small-to-medium sized businesses with savings accounts, investment and pension products, tax-advantaged savings and investment solutions, and annuity payment services. Brand New Day Bank has more than €8 billion in assets.
Digital banking experience platform Plumeryannounced a suite of new features and integrations designed especially for credit unions in Canada. These new capabilities will give these institutions the ability to provide personalized, compliant, and modern digital banking experiences for their members.
The Amsterdam-based fintech leveraged a collaboration with Aequilibrium, a digital services and technology consultancy headquartered in Vancouver, British Columbia, to make sure its Canadian-ready platform is built based on the way that Canadian credit union members prefer to bank. This includes not just hyper-personalized, mobile-first, and intuitive digital journeys, but also support for everyday payments and transfers including billpay and Interact e-Transfers, and Canadian savings and lending products like GICs.
Plumery’s move comes as Canadian banks and credit unions face a range of challenges including evolving customer expectations, fintech competition, and the pressure to modernize their legacy systems. More immediately, Canadian credit unions are scrambling in the wake of Central 1 Credit Union’s announcement that it will wind down its digital banking platform Forge (formerly MemberDirect). More than 170 credit unions across Canada had been relying on the technology.
“With Forge winding down, Canadian institutions have a rare opportunity to modernize on their own terms, rather than being tied to outdated systems,” Plumery CEO and Founder Ben Goldin said. “Our platform provides an immediate, future-ready option that puts control back in the hands of credit unions. By working with Aequilibrium, we are combining global banking innovation with local expertise to deliver experiences that meet the unique needs of Canadian credit unions’ members.”
Founded in 2016, Plumery enables financial institutions to offer unique mobile and online experiences on top of either their modern or legacy core banking platforms up to 80% faster. Plumery’s technology features foundations that are pre-integrated into its digital banking journeys that accelerate app development and shorten time-to-market while maintaining complete control over both design and functionality.
India’s Bank of Baroda launched its eRUPI Person-to-Person (P2P) gifting solution.
TBC Uzbekistan extended financial services to non-residents.
Indian fintech Kiwi unveiled its interest-backed EMI on UPI.
Latin America and the Caribbean
Brazilian digital banking giant Nubank has applied for a US national bank charter.
Unlimit announced securing Principal Membership with Mastercard and Visa in Peru.
Brazi-based proptech Lastro raised $15 million in Series A funding in a round led by Prosus Ventures.
Asia-Pacific
Cambodian MSME-focused bank Chief Bank teamed up with payment solutions provider BPC to launch its new Chief Mobile 3.0 mobile app.
The People’s Bank of China opened a digital yuan operation center in Shanghai.
The Hong Kong Monetary Authority (HKMA) and the Hong Kong Science and Technology Parks Corporation (HKSTP) launched IADS Developer Hackathon to promote bank-fintech collaboration.
According to a report in Bloomberg, JP Morgan is going to make fintechs pay up if they want access to customer financial data. Fighting words? Or just signs of what’s to come? Check out this news and more in this week’s edition of Finovate’s Fintech Rundown!
Identity management
Digital identity platform Signicatacquires Dutch NFC-based digital identity verification solutions provider Inverid.
Lending
Digital lending platform Yabxlaunches GenAI-powered voice solution designed to increase financial literacy among its underserved borrowers.
This week’s edition of Finovate Global looks at recent fintech headlines from the South American nation of Peru.
EBANX partners with Peruvian digital wallet Yape
Brazilian payments company EBANX announced a direct integration with Peruvian digital wallet, Yape. Designed for cross-border commerce and relying on an easy user enrollment process, Yape enables users to pay for purchases on international ecommerce websites using either their Yape wallet balance or a linked card. The wallet supports recurring, one-click and on-file payment solutions and, in 2024, was responsible for the largest share of the volume transacted online through a digital wallet in the country. This is according to research from Payments and Commerce Market Intelligence (PCMI).
“With over 14 million active Peruvian users, Yape empowers millions of consumers with reliable daily transactions,” Yape Head of Payments Claudia Silva said. “This direct integration with EBANX marks a significant step in expanding our reach to global merchants, allowing them to tap into the vast potential of the Peruvian market.”
Digital wallets are a major component of Peru’s payment ecosystem. The fourth most commonly used payment in the country, digital wallets represented 10% of all digital commerce transactions in Peru in 2024. PCMI anticipates a digital wallet annual growth rate of 17% by 2027 and much of this growth, according to Silva, can be credited to Yape. According to the firm’s own data, Yape’s digital wallet delivers a 93% approval rate on transactions, an especially valuable achievement as digital wallets are increasingly becoming the preferred payment method for recurring transactions.
“Through its partnership with Yape, EBANX enables merchants to access a seamless, secure, and high-conversion payment solution that drives immediate results for one-time purchases as well as for subscription-based services and recurring payments,” said Juliana Etcheverry, Director of LatAm Country Growth—South Cone at EBANX. “This partnership goes beyond payments; it’s about fostering scalable, long-term growth for merchants in a rapidly evolving market.”
Founded in 2016, Yape is headquartered in Lima, Peru. The company’s payment app has more than 20 million users and more than 2.5 million affiliated businesses. Yape expanded to Bolivia in 2023, reaching two million users (“Yaperos”) a year later.
Paysafe goes live with PagoEfective ewallet in Peru
As if to underscore the rising popularity of digital wallets in Peru, payments platform Paysafe announced that it is expanding its eCash brand, PagoEfectivo, into a digital wallet. As a brand, PagoEfectivo has been a major force in Latin America’s eCash payment ecosystem, supporting the transactions of millions of online consumers. As a digital wallet, the brand will enable users to load funds instantly, make online transactions, receive payouts from participating merchants, transfer funds to others, and more.
“Our recent survey with Peruvian consumers found that 81% would use a digital wallet from PagoEfectivo,” Paysafe Head of Latin America Estaban Sarubbi said. “With that strong sign, we’re launching a solution that meets consumers’ payment needs.” Paysafe CEO Bruce Lowthers added, “Consumers in Peru already trust PagoEfectivo for everything from iGaming and digital goods to travel and ecommerce. With the launch of our new digital wallet, we’re giving them a more convenient way to pay—one that reflects Paysafe’s commitment to powering the experiential economy.”
Headquartered in London, Paysafe processed $152 billion in annualized transactional volume in 2024. A leading payments platform, Paysafe empowers businesses and consumers to connect and transact through its capabilities in payment processing, digital wallets, and online cash solutions. Delivering services across 260 payment types in 48 currencies, Paysafe’s integrated platform is designed for mobile-initiated transactions, real-time analytics, and facilitating the convergence between in-store and online payments.
Do Payment launches pay-in service Do Pay in regional expansion
Peruvian paytech Do Payment has launched its own pay-in service, Do Pay. The new offering is designed bring greater speed, lower costs, and more flexibility to the payments process by enhancing liquidity for clients and reducing reliance on intermediate parties. Do Pay also creates a single provider for both pay-in and pay-out payment solutions thanks to leveraging its own proprietary infrastructure and direct connections with banks, acquirers, and local payment networks.
“In Latin America, companies face a critical challenge: the slowness of fund availability, with delays of 48 to 72 hours and even up to one week, directly impacting their liquidity,” Do Payment Chief Product Officer Valentina Brero said. “Against global solutions poorly adapted to the region, Do Pay emerges as a service specialized in payment collection with the fastest settlement in the market, ideal for operators who need to use the funds for daily operations.”
Do Payment’s new offering enables firms to better manage a range of problems faced by companies in Latin America when it comes to collecting and making payments. These challenges include having to work with multiple partners—often different providers for both collecting and disbursements—as well as multiple technologies, high fees, and long waiting times. Do Pay, in contrast, enables firms to leverage a single platform for both collection and dispersal, which enhances operational liquidity and ensures that funds are credit faster.
Founded in 2022 by CEO Cristian Valderrama, Do Payment is based in Lima, Peru. The company is already active in seven countries—Peru, Mexico, Ecuador, Chile, Colombia, Panama, and the US—with its pay-out service. In addition to Peru, Do Payment will go live with its Do Pay pay-in solution in Mexico and Ecuador, with the goal of expanding to both Chile and Colombia subsequently. Do Payment also noted that it plans to grow its footprint in Brazil in the second half of 2025.
Here is our look at fintech innovation around the world.
Latin America and the Caribbean
Payments platform Paysafe launched its digital wallet, PagoEfectivo, in Peru.
Mexican fintech and edtech Mattilda partnered with payment orchestration platform Gr4vy to power its new white-label payments solution, Mattilda Pay.
Uruguay-based paytech dLocal announced plans to acquire Kenyan cross-border payments solutions provider AZA Finance.
Asia-Pacific
Revolutpartnered with Ant International to enable its customers to send money to China.
Visaunveiled its Security Roadmap for New Zealand, featuring a three-year plan to leverage AI to fight fraud and other cyberthreats against consumers and businesses in the country.
Worldpaywent live with domestic acquiring services in Thailand.
Sub-Saharan Africa
Nigerian cryptocurrency exchange Roqqu acquired Kenyan crypto startup Flitaa as part of its expansion into East Africa.
Daily Investor profiled South African entrepreneur Lungisa Matshoba, co-founder of Yoco.
South African paytech Stitch acquired Efficacy Payments in order to offer card acquiring services directly to merchants.
Central and Eastern Europe
Clarity AI acquired Berlin, Germany-based Sustainability-as-a-Service innovator ecolytiq.
Azerbaijan-based fintech PashaPay inked a Memorandum of Understanding (MoU) with Mastercard.
German online bank N26 announced plans to offer stock trading to customers in Austria and Germany.
Middle East and Northern Africa
Egypt’s Faisal Islamic Bank partnered with Intellect to launch its Shariah-compliant digital transformation.
According to research from Mordor Intelligence, the fintech market in the United Arab Emirates is expected to grow to more than $6.4 billion by 2030.
Egyptian digital investment platform Thndr raised $15.7 million in a round led by Prosus Ventures.
Central and Southern Asia
Pakistan-based ecommerce startup Bazaar Technologies announced that it is nearing profitability following its acquisition of Pakistani paytech Keenu.
Indian cross-border investing and financial management platform Belong is now available to non-resident Indians living in the UAE.
Central Asian digital banking ecosystem TBC Uzbekistan launched a new insurance vertical, TBC Insurance.
This week’s edition of Finovate Global showcases recent fintech news from three countries in southeast Asia: Vietnam, Malaysia, and the Philippines.
Visa brings Click to Pay to Vietnam
A growing number of Vietnamese banks have become early adopters of Visa’sClick to Pay service. Click to Pay provides a faster, more secure, and convenient checkout experience for online transactions by enabling cardholders to make their purchases with fewer clicks—including relieving them of the need to manually enter card and shipping details. Instead, Click to Pay allows users to identify themselves through their email address or mobile phone number. The service uses advanced security technology—including the Visa Token Service—to keep transaction data secure and is designed to meet EMVCo standards for digital checkout.
“With e-commerce being so prevalent in Vietnam and aligning with the Vietnamese government’s digitization objectives, we are pleased to introduce this solution through our banking partners,” Visa Country Manager for Vietnam and Laos Dung Dang said. “Click to Pay with Visa has the potential to transform online shopping and support the development of a more connected digital economy.”
Cardholders with Vietnam Technological and Commercial Joint Stock Bank (Techcombank) and Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) can enroll in the Click to Pay service through their banking apps or with participating online merchants. Visa has also teamed up with Vietnamese payment platform Payoo, which will integrate Click to Pay across its merchant ecosystem. Visa announced that cardholders using Click to Pay at Payoo-affiliated merchants will be eligible for exclusive promotional offers “in the near future”. Additional merchants are expected to be added in the coming months.
BNPL provider Atome secures $75 million to support Philippines operations
“The Philippines is a key growth market for Atome,” Atome Chief Commercial Officer Andy Tan said. “This financing reflects the continued confidence in Atome’s ability to deliver inclusive, risk-managed credit at scale.”
Atome is part of Advance Intelligence Group, a fintech and AI platform backed by investors such as SoftBank Vision Fund 2, Warburg Pincus, Northstar, and Singapore-based EDBI. This week’s funding comes as the company has been expanding its BNPL offering throughout Southeast Asia, bringing alternative credit solutions to unbanked and underbanked populations in the region. The financing also arrives one year after Atome secured a three-year term loan facility from EvolutionX Debt Capital.
“The launch of innovative and fit-for-market solutions like the Atome Card (PayLater Anywhere) and lending products demonstrates their ability to expand offerings while leveraging local market expertise,” EvolutionX Partner Rahul Shah said.
Malaysia’s KAF Digital Bank goes live with Temenos
The growth of Islamic digital banking is one of the most underappreciated developments in international fintech. Helping power this trend are companies like Temenos which recently partnered with Malaysia’s KAF Digital Bank as the institution launches its new Islamic digital bank in the country.
“Powered by Temenos SaaS, KAF Digital Bank is redefining Shariah-compliant banking with smarter, simpler financial solutions and a seamless, customer-first digital experience,” KAF Digital Bank CEO Rafiza Ghazali said. “The successful go-live and early access customer launch marks a key milestone in our journey, enabling Malaysians to take control of their financial futures with greater confidence.”
Temenos SaaS will enable KAF Digital Bank to offer a range of Shariah-compliant financial solutions that make financial management easier for customers who require or simply prefer Islamic banking. The offering includes comprehensive core and digital banking services with payments, analytics, and Temenos Data Hub on Microsoft Azure cloud infrastructure. In a statement, Temenos APAC Managing Director Will Dale noted the growth and importance of the Islamic banking customer in the country.
“This go-live not only strengthens Temenos’ regional footprint in SaaS, but also shows the unique breadth of functionality and advanced technology we deliver,” Dale said. “With proven capabilities tailored to the Malaysian market and Islamic banking, Temenos SaaS empowers KAF Digital Bank to achieve faster time-to-market, greater efficiency, and drive future growth.”
KAF Digital Bank secured approval to operate as a digital bank at the beginning of the year, and will be the fourth digital bank to operate in the country. The bank was launched by KAF Investment Bank Berhad, in partnership with Carsome, MoneyMatch, Jirnexu, and StoreHub. KAF Investment Bank Berhad was established in 1975.
Here is our look at fintech innovation around the world.
Middle East and Northern Africa
Saudi Arabian finance app tiqmo partnered with global payments network MoneyGram.
Revolutreported that it has entered talks with the Bank of Israel to expand operations in the country.
MENA-based financial institution Mashreq launched its NEO PLUS Saver Account.
Central and Southern Asia
India-based MSME lender FlexiLoans raised $44 million in an expanded Series C round.
This week’s edition of Finovate Global looks at fintech headlines from companies headquartered in North Africa.
Fayda wallet goes live in Ethiopia
Designed to revolutionize the way Ethiopians access digital services, Ethiopia’s National ID Program (NIDP) has launched its FaydaPass wallet. The solution, developed in partnership with TECH5 and Visa, will help promote financial inclusion and address the need for verified electronic Know Your Customer (eKYC) services throughout society.
The wallet makes it easier for Ethiopians to secure a digital copy of the Fayda credential by enabling them to download the official app and request their digital ID credentials via the wallet. The Fayda ID system uses its data to generate the secure credential, which is delivered directly to the user’s mobile device as a verifiable credential (VC). The verifiable credential supports secure on- and offline verification for a wide range of use cases including payments and digital access to government services.
“A credential wallet would be a container for government and private sector issued standardized verifiable credentials,” NIDP Executive Director Yodahe Zemichael said. “It’s an exciting new way of delivering value to citizens and extending the functionality of Fayda Digital ID.”
Ethiopian digital-first Coopbank announced that it would leverage the Fayda app and its advanced biometric eKYC verification to enable customers to open new bank accounts. The institution’s CEO Deribie Asfaw said that the new offering will help it “reach financially marginalized communities who have long been excluded from the formal financial system due to the absence of such robust infrastructures.” Asfaw added, “This brings us one step closer to the community and reinforces our commitment to leaving a meaningful mark on the country’s digital transformation journey.”
Founded in 2005, Coopbank (Cooperative Bank of Oromia) was established by farmers and still counts farmers as more than half of its shareholders. With a focus on the country’s micro, small, and medium-sized farming and agricultural sector businesses, the institution has assets of ETB 139.56 billion ($1.04 billion), operates 745 branches, and has more than 14.5 million accountholders.
TerraPay, Wave Mobile Money partner on remittances to Mali
A partnership between international money movement company TerraPay and African mobile money provider Wave Mobile Money will enhance cross-border remittances services in Mali. The collaboration will enable Malians to receive funds from family and friends living and working abroad directly into their Wave mobile wallets. This will provide for a faster, more accessible, and cost-effective international remittance experience.
Mobile phone penetration in Mali is high, with more than 80% of the population using the technology. Many Malians rely on mobile phones for mobile money and digital wallet services, making the devices a key component of financial inclusion in the country for millions—especially the un- and underbanked. The partnership between TerraPay and Wave Mobile Money will facilitate remittance flows from Money Transfer Operators (MTOs) through the US, Canada, and Europe to Mali via a single integration.
“Our partnership with Wave Mobile Money marks a significant milestone in our mission to power borderless money movement,” TerraPay Vice President—Sub Sahara Africa, Willie Kanyeki said. “By enabling instant, cost-effective, and fully compliant remittances from key markets like the US, Canada, and Europe, we are simplifying financial access and driving financial inclusion in Mali.”
TerraPay enables payments to 150+ receiving countries and 210+ sending countries. The company’s platform facilitates payments to more than 3.7 billion mobile wallets, 7.5 billion bank accounts, and more than 12 billion cards. Founded in 2014, TerraPay is headquartered in London. Co-founder Ambar Sur is CEO.
Founded in 2018 and operating in Mali since 2021, Wave Mobile Money offers domestic and cross-border transfers, bill payments, and business services to customers in Senegal, Côte d’Ivoire, Uganda, Gambia, Sierra Leone, Mali, and Burkina Faso. Headquartered in Dakar, Senegal, Wave Mobile Money is on a self-described mission to make Africa “the first cashless continent.” Drew Durbin and Lincoln Quirk are Co-Founders.
Tunisia’s Konnect Networks secures investment
Tunisia’s Konnect Networks has raised an undisclosed amount from Attijariwafa Ventures. The investment was part of a wider fundraising effort that featured Utopia Capital Management, 54 Collective, Visa, Plug and Play Tech Center, Renew Capital, Digital Africa Ventures, and Sunny Side Venture Partners as investors. The company said it would use the capital to help fuel both its continued expansion and further innovation in payments technology.
Founded in 2021 by Amin Ben Abderrahman, Konnect Networks provides payment links, e-commerce plugins, and APIs. Serving both retail and business customers, the firm’s payment orchestration platform covers online and point-of-sale payments, payment aggregation, and real-time transaction capabilities. The company’s funding news comes in the wake of it being approved as a Payment Facilitator (PayFac) by Tunisia’s central bank. Konnect Networks currently has 2,000 users of its technology in Tunisia.
This week’s edition of Finovate Global features an interview with Stav Levi-Neumark, CEO and Co-Founder of revenue workforce solutions provider Alta.
Founded in 2023 and headquartered in Israel, Alta leverages data and AI to help drive revenue growth at every level for businesses. The company’s AI Revenue Workforce agents ensure that everyone on the team is connected, aligned, and equipped with the data insights and AI automation they need to enable their businesses to scale efficiently and grow faster. Alta’s agents have helped produce a 3x increase in qualified leads, a 15% increase in win rates, and a 80% reduction in costs.
Our conversation with Levi-Neumark is also a part of Finovate’s and Finovate Global’s commemoration of Women’s History Month. Be sure to check out her thoughts on gender diversity, current opportunities for women in fintech, as well as her advice for female CEOs.
Can you tell us a little bit about Alta and the revenue workforce solutions business?
Stav Levi-Neumark: AI is impacting almost every industry now. But go-to-market and revenue teams across many vertical markets are struggling to fully harness AI for sustained growth. Choosing the right tools to enhance capabilities of salespeople while also automating relevant tasks is a real challenge.
Alta is an AI revenue workforce that is data-driven. It supports revenue teams, allowing each person to be like a 10x version of themselves.
Alta agents automate repetitive and mundane tasks that require limited human oversight, such as researching potential leads and conducting personalized outreach across multiple channels. The agents also provide actionable insights based on real-time data across all revenue functions. This streamlined workflow helps companies achieve improved revenue growth by working more efficiently, accelerating their sales cycle, and enabling humans to focus on relationship-building opportunities, strategic, and creative work.
Who are Alta’s primary customers and how do you reach them?
Levi-Neumark: Alta has really diverse customers across virtually every business sector, and they range from SMBs to Fortune 500 companies. We’ve been able to ramp up the number of clients we have really quickly as well, adding almost 100 customers in less than six months.
Your latest solution—AI Revenue Workforce—leverages innovations in agentic AI. Can you talk about how this technology and new product empower go-to-market and revenue teams?
Levi-Neumark: Agentic AI has endless potential to dramatically improve efficiency and drive revenue growth. By leaving automated tasks to AI agents, human-led go-to-market and revenue teams can work smarter and faster, focusing their attention where it matters most: developing strategy, building relationships, closing deals, and increasing ROI through creative thought.
AI agents in Alta’s workforce include Katie, a Sales Development Representative (SDR), Luna, an AI RevOps agent, and Alex, an AI Calling agent. The workforce can integrate into more than 50 internal and external marketing, sales, and revenue systems that include CRMs, ERPs, payment, advertising, social media tools, and more.
Alta is a very young company, founded in 2023. There has been a lot of discussion about the current environment for tech startups. How would you characterize the climate for startups today?
Levi-Neumark: The founders who thrive will be those who can harness technological advancements while building businesses with solid foundations that can stand on their own, beyond the AI hype. Here’s the advice I typically share when talking with other tech founders:
Success means your customers attribute significant revenue growth directly to your product. When they look at their business results and can clearly see your impact on their bottom line, that’s when you’ll know you’ve truly succeeded.
Maintaining balanced, healthy growth is key. While it may be tempting to focus more attention on one specific area of your organization, it’s critical to ensure all departments grow at an equal pace.
Be proactive rather than reactive to market shifts to position yourself ahead of certain trends. When deeply focused on product development and customer acquisition, it’s easy to miss emerging signals from the broader ecosystem.
Alta recently secured $7 million in seed funding. What does this investment mean for the company and what will it enable Alta to do?
Levi-Neumark: This funding solidifies Alta’s position as an industry leader in workforce intelligence automation. It will allow Alta to continue developing out-of-the-box solutions that redefine the relationship between AI and sales teams to unlock limitless revenue growth opportunities.
We plan to utilize the investment to expand into new markets, grow operations, scale R&D, and accelerate product development to meet increasing market demand from enterprise and mid-market customers. In fact, we are currently developing our newest AI agent, Greg, a sales assistant for account executives, to further bolster our workforce’s capabilities.
You are one of very few female CEOs in the enterprise AI space. Are there unique challenges to greater gender diversity in enterprise AI compared to other areas of technology, fintech, or financial services?
Levi-Neumark: I don’t feel there are unique challenges specific to the AI space compared to other tech sectors. The gender diversity issues we face in enterprise AI mirror what we see across technology, fintech, and financial services more broadly.
The fundamental challenges remain consistent: representation gaps, unconscious bias in hiring and promotion, and the need for more visible role models.
That said, I prefer to focus on the opportunity. AI is still a relatively young field, and at the end of the day, our success is what will define us. I hope more female founders and women will enter this market and look forward to welcoming them.
What advice would you give to female CEOs, especially those who are new to the role?
Levi-Neumark: I would advise female CEOs, especially those new to the role, to build strong support networks early. Connect with other female founders and executives who understand your specific challenges—these relationships become invaluable resources for candid advice and emotional support that you can’t always find within your company.
Trust your unique leadership style and perspective. There’s often pressure to conform to traditionally masculine leadership traits, but the most effective leaders bring their authentic selves to the role. Your different viewpoint is actually a strategic advantage that can help identify opportunities others might miss.
Be strategic about which battles to fight. As a female CEO, you’ll likely face additional scrutiny and challenges. Learn to distinguish between issues that are worth addressing directly and those where it’s better to let your results speak for themselves.
Prioritize building a diverse leadership team from the start. This not only leads to better decision-making, but also creates a culture where different perspectives are valued.
Finally, remember that your visibility matters. By succeeding in your role, you’re creating pathways for others. Share your journey, mentor upcoming leaders, and when possible, be the voice and representation you wished you had when starting out.
Here is our look at fintech innovation around the world.
Asia-Pacific
UK-based open banking payments company Atoa announced an integration with New Zealand-based small business platform Xero.
This week’s edition of Finovate Global looks at recent fintech headlines from the South American countries of Argentina, Brazil, and Uruguay.
Ualá Raises $66 Million at $2.75 Billion Valuation
In a funding round that featured participation from Mexican media titan TelevisaUnivision, Argentina-based fintech Ualá has added $66 million in funding to its Series E round. The additional funding brings the round’s total to $366 million and gives the company a valuation of $2.75 billion.
The capital comes via an equity sale and will be used to fuel Ualá’s growth throughout Latin America—with a particular emphasis on expansion in Mexico. Ualá Founder and Chief Executive Officer Pierpaolo Barbieri praised the participation of TelevisaUnivision, which he called a “very relevant and influential outlet, across Spanish-speaking markets but especially in Mexico.” Barbieri added, “It will help us create confidence and closeness with a lot of Mexicans that still don’t know us.”
The first close of the Series E round was led by Allianz X, German insurance company Allianz SE’s venture capital arm. Also participating in the first close were Stone Ridge Holdings Group and Pershing Square Foundation. Additional investors in the extension round were not named.
Founded in 2017 in Argentina, Ualá offers financial services including payment accounts connected to an international Mastercard prepaid card, as well as savings accounts, loans, investments, business collection solutions, and more. The company has nine million users in the region, including in countries such as Argentina, Colombia, and Mexico.
Ualá began the year by announcing the availability of six new mutual funds in its ecosystem, including one fund denominated in dollars. In February, the company integrated an advanced artificial intelligence platform, powered by OpenAI’s GPT-4, into its customer service process.
dLocal partners with Temu, Belmoney
Uruguayan fintech and cross-border payments company dLocal announced a pair of partnerships in recent days. First, dLocal launched a new collaboration with Europe-based, remittance-as-a-service (RaaS) provider Belmoney. The goal of the partnership is to facilitate cross-border payouts, leveraging the integration of more than 900 local and alternative payment methods (APMs) such as credit and debit cards, bank transfers, and instant transactions. The collaboration is also designed to boost service reliability and efficiency for those making cross-border transactions in countries including Bangladesh, Ecuador, Peru, and Pakistan.
“Our partnership with dLocal is a game-changer in the remittance space,” Belmoney CEO and Founder Bruno Pedras said. “By integrating with dLocal’s comprehensive network, we can significantly lower costs, improve transaction speeds, and provide a better cross-border payments experience for both senders and recipients.”
Second, dLocal announced that it has formed a strategic partnership with Temu, the international e-commerce platform of China’s PDD Holdings. Together, the two companies seek to provide shoppers in Africa, Asia, and Latin America with new seamless and secure payment options that are suited to local preferences. Millions of customers in 15 emerging markets in these regions stand to benefit from the collaboration.
“By partnering with dLocal, we’re excited to extend these benefits to millions of customers in emerging markets, ensuring that more people can enjoy accessible, convenient shopping experiences,” a Temu spokesperson said in a statement.
Launched in 2022, Temu is an online marketplace that offers consumer goods at significantly discounted prices. Shipping goods directly from the People’s Republic of China, Temu reportedly has more than 292 million monthly active users of its app worldwide. The app was among the most popular in US app stores for both iOS and Android in 2024.
Founded in 2016, dLocal is headquartered in Montevideo, Uruguay. The country’s first unicorn, dLocal offers an all-in-one payment platform that enables companies to accept and disburse a wide range of local payment methods and currencies. In 2024, the company processed more than $25 billion worth of payments. dLocal works with 700+ merchants, supports 900 payment methods, and operates in more than 40 countries. A publicly traded company on the Nasdaq exchange under the ticker DLO, dLocal has a market capitalization of $2.7 billion. Sebastián Kanovich is CEO.
Ant International’s Bettr brings embedded finances services to ecommerce merchants in Brazil
Speaking of partnerships between businesses in Asia and Latin America, we learned this week that Bettr, Ant International’s AI-driven lending business, has gone live in Brazil. Bettr will help expand lending opportunities for small and medium-sized enterprises (SMEs) by working with local partners such as AliExpress. Through this partnership, Bettr will introduce a new financing solution, Bettr Working Capital, for local merchants working on AliExpress’s platform.
“This collaboration reinforces our commitment to helping small and medium-sized businesses thrive by providing accessible and efficient financial tools that can take their operations to the next level,” LatAm director of AliExpress Briza Bueno said. “In this way, we are not only supporting the individual growth of these entrepreneurs but also contributing to the advancement of e-commerce in the country.”
Bettr Working Capital will be introduced gradually; the first round of disbursements began this week. The technology analyzes merchant sales records and other unstructured business data from AliExpress to make smarter, tailored, more affordable loan solutions. This will help small and medium-sized businesses better manage cash flow and expand into new markets.
Headquartered in Singapore, Ant International is an international digital payments and financial technology provider. Bettr is the company’s digital lending business, which specializes in serving micro, small, and medium-sized enterprises (MSMEs). The firm combines emerging technologies like AI and data-driven credit modeling to offer secure financial solutions that better fit borrower needs.
Here is our look at fintech innovation around the world.
Latin America and the Caribbean
Argentina-based fintech Uala raised $66 million at a valuation of $2.75 billion in an extended Series E round.
Remittance company Pomelo integrated with Visa clearing house in Mexico.
Asia-Pacific
Indonesian ride-hailing service InDrive teamed up with Singapore’s Fingular and Indonesia’s Sharia-compliant P2P lending platform Ammana to launch its new inDrive.Money app.
Malaysian wealth management platform Versa raised $6.8 million in Series A funding.
Japan’s international payment brand JCB partnered with integrated payment provider First Cash Solution, expanding JCB Card acceptance in Germany.
Sub-Saharan Africa
African payments technology giant Flutterwave integrated with Pay With Bank Transfer to support businesses in Ghana.
Mastercardextended its collaboration with London-based Paymentology to boost financial inclusion in South Africa.
Compliance and fraud prevention platform Sumsubannounced a partnership with the Association of Fintechs in Kenya.
Central and Eastern Europe
Lithuanian identity verification provider iDenfy announced a collaboration with mobility provider Evemo.
Estonian fintech Hoovi raised €8 million in funding via a structured bond issue from Finland’s Multitude International Bank.
Moldova-based digital wallet and electronic money institution (EMI) Paynet partnered with open banking services provider Salt Edge.
Middle East and Northern Africa
Israeli fintech FINQ became the first Israeli company to secure a US Securities and Exchange Commission (SEC) Registered Investor Advisor (RIA) license without relocating to the US.
Egyptian fintech Fawry inked a strategic agreement with Contact Financial Holding to expand access to Buy Now, Pay Later (BNPL) services.
