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.
- Singapore-based InstaReM announces new multi-currency feature to make overseas payments easier for SMEs.
- Myanmar’s biggest privately-owned bank, Kanbawza (KBZ) Bank picks Finastra’s treasury management solution, Fusion Treasury.
- Government ministries in South Korea partner for joint blockchain project to improve marine logistics and shipping.
- Mastercard Foundation Fund for Rural Prosperity (FRP) invests $2.9 million three companies from Burundi, Malawi, and Uganda to support financial inclusion.
- Nigerian Stock Exchange extends partnership with Nasdaq to continue using its matching engine technology.
- Kenya’s Capital Markets Authority releases its “FinTech Sandbox Guidance Note” with an initial focus on robo advisors and blockchain technology.
Central and Eastern Europe
- Intelligent CIO looks at the merger of Polish fintechs, Braintri and iCompass.
- Mastercard partners with Polish Payment Standard to provide contactless payments.
- New report from Deloitte and ID Finance analyzes the growth of Russia’s private fintech sector.
Middle East and Northern Africa
- Iraq’s Hammurabi Commercial Bank to deploy ICS Banks Universal Banking Software Suite.
- Ripple and UAE Exchange team up to launch blockchain-powered cross-border remittance payment services in Asia in early 2019.
- Egypt’s Commercial International Bank introduces nation’s first fintech-focused venture capital fund.
- Clinc Brings Conversational AI to Turkey’s Isbank.
Central and South Asia
- Obopay teams up with Federal Bank and Mastercard to offer new pre-payment card in India.
- Indian digital payments firm ePayLater teams up with Cashfree to bring its credit-based payment option to merchants.
- YourStory features Pune-based fintech startup, Phi Commerce.
Latin America and the Caribbean
- Brazilian lender Creditoo announces $1.2 million in new funding.
- IDB, Finnovista report notes that four out of ten Peruvian fintechs has a female founder.
- Costa Rica unveils new virtual currency, Ecolones, to encourage recycling.