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 South Asia
- Visa takes minority stake in Indian payment gateway BillDesk.
- Swift India partners with MonetaGo to pilot blockchain-based banking.
- India FinTech Forum (IFF) announced the 20 companies recognized at its India FinTech Awards (IFTA), including Finovate alums Hydrogen, iProov, Ocrolus, and James Finance.
Latin America and the Caribbean
- Elevar Equity leads $5.25 million investment round for Uruguayan fintech, Bankingly.
- Banco Original, a Sao Paulo, Brazil-based FI, to deploy FICO Origination Manager and FICO Application Fraud Manager.
- First Data launches Clover Mini and Clover Flex in Argentina.
- Finastra gives Singapore banks top marks in its inaugural Open Banking Readiness Index.
- FinLab accelerator introduces its smart business transformation program for Thailand small businesses.
- SmartPesa brings its softPOS contactless card acceptance via NFC phone running Android – to Singapore and South East Asia.
- South African financial services company, Discovery, to launch “behavioral bank.”
- Nigeria’s central bank proposes fintech licensing regime to help manage cyber risk, capital adequacy, and operational oversight issues.
- A “hands-off” attitude toward regulation is credited for helping boost Uganda’s emergent fintech sector.
Central and Eastern Europe
- Poland’s Braintri merges with iCompass.
- The Polish Financial Supervision Authority names the Heart as one of operators for its regulatory sandbox for companies developing fintech solutions.
- Ingenico Group teams up with Russia’s Sberbank to enable MOIR card payments for online purchases.
Middle East and Northern Africa
- Study from Mena Research Partners calls for major gains in fintech funding in the MENA region over the next ten years.
- Egypt Innovate features ten Egyptian startups “following the world’s fintech trend.”
- The Tehran Times looks at the “challenges and opportunities” of fintech innovation in Iran.