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.
- 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.
- iSignthis acquires Lithuania-based banking software provider, Baltic Banking Services (BBS).
- Partnership between Yandex.Checkout and Tinkoff Bank supports direct payments to online stores by way of Tinkoff’s app and online banking offering.
Middle East and Northern Africa
- Abu Dhabi Commerical Bank (ADCB) goes live with its PFM app, MoneyBuddy, which uses technology from Strands.
- Dubai-based neobank Xpence prepares for launch.
- 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.
- 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.
- Visa announces plans for an innovation center in South Korea.