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.
Latin America and the Caribbean
- Mexican fintech Albo raises $7.4 million in Series A round led by Mountain Nazca.
- Mobile digital wallet BPP Pay goes live in Brazil.
- The Inter-American Development Bank and Finnovista publish their Fintech in Latin America 2018: Growth and Consolidation report.
Asia-Pacific
- R3 and SBI Holdings launch joint venture to boost use of Corda in Japan and East Asia more broadly.
- Mizuho inks memorandum of understanding for business cooperation with Zhongguancun Development Group (ZDG) in quest for Chinese fintech startups.
- Phillippine “fintech city” Cagayan Economic Zone Authority (CEZA) unveils new regulations for trading cryptocurrency assets.
Sub-Saharan Africa
- Standard Chartered begins the second phase of its digital-only, retail bank rollout in four African markets.
- The Standard reflects on Kenya’s progress in promoting financial inclusion via financial technology.
- Modern Ghana considers Five Ways Fintech Will Change E-Commerce.
Central and Eastern Europe
- Fintech Futures takes a look at the growth of Lithuania’s fintech sector.
- ACI Worldwide to drive real-time payments for 17 banks in Hungary.
- Belarus turns to the example of Lithuania as the country considers how to regulate fintech.
Middle East and Northern Africa
- Sharia’h compliant insurance solution provider Solidarity Bahrain opts for core insurance system from TCS Bancs.
- Al Bawaba looks at how Egyptian banks are moving toward digitization and embracing fintech.
- Saudi Arabian Monetary Authority and United Arab Emirates Central Bank announce plans for a blockchain-based digital currency to improve financial settlements between the two countries.
Central and South Asia
- Indian alternative credit scoring startup CreditVidya raises $3 million in funding.
- A partnership between 11 banks in India has led to the country’s first blockchain-linked funding for SMEs.
- Reserve Bank of India (RBI) launches Ombudsman Scheme for Digital Transactions to improve response to complaints regarding digital transactions.