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.
Central and Eastern Europe
- Austrian division of private banking and asset management group, LGT, partners with Avaloq.
- Bank of Lithuania announces updates to its position on virtual assets and ICOs.
- 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.
Middle East and Northern Africa
- Finastra brings its core banking technology to Saudi Arabia.
- Cryptocurrency brokerage based in Kuwait, YallaBit, raises $925,000 in Series A.
- Arabian Gazette highlights Bahrain’s Manama, Saudi Arabia’s Riyadh, as well as both Dubai and Abu Dhabi in the UAE in its look at Four Arabian Gulf Cities Where Fintech is Thriving.
Central and South Asia
- Temenos acquires Bangalore-based big data and analytics firm, hTrunk.
- National Bank of Pakistan introduces its first contactless debit card.
- Anirban Mukherjee appointed CEO of PayU India.
- QR code-based payment app BharatPe raises $17 million in round led by Sequoia Capital India.
- Pan Asia Bank and TerraPay partner to provide instant cross-border payment access to bank accounts in Sri Lanka.
- Halyk Bank teams up with Fiserv to centralize its cash management process.
Latin America and the Caribbean
- Digital challenger bank C6 goes live in Sao Paulo, Brazil.
- Mexico looks at the possibility of forming a digital payments system, run by the central bank, to help make financial services more accessible for the underbanked.
- PYMNTS.com features Argentine digital challenger bank, Wilobank.
- Ping An’s fintech subsidiary OneConnect sets up shop in Indonesia.
- Hong Kong Exchange acquires minority stake in Shenzhen-based fintech.
- Featurespace goes live in Singapore.
- South African digital lender Payabill announces equity stake investment from Johannesburg-based business challenger bank, Sasfin.
- Kenyan Capital Markets Authority Chief Executive Paul Muthaura speaks about the need for a “conducive environment” for fintech innovation in the country.
- Nigerian Lagos state government to launch e-procurement platform within the next three weeks.