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Commonwealth Bank of Australia Launches Tech Hub in Brisbane Over the summer, Australia’s Commonwealth Bank (CBA) unveiled its latest technology hub in Melbourne. This week, we learned that the financial institution’s hub-building game is still strong, with word that that CBA has established another technology hub, this time in the city of Brisbane. The goal Read more…
There are many countries whose fintech innovations are often overlooked. And Canada, America’s legendarily kinder, gentler neighbor to the north, is among them. This week’s edition of Finovate Global takes a look at recent fintech headlines emanating from the Great White North this week. The news ranges from big new fundings to new product launches Read more…
Miami, Florida-based neobank Novo raised $35 million in funding, taking its Series B funding round to $125 million. The Series B raises Novo’s total equity funding to more than $170 million. The latest capital infusion comes from GGV Capital, which manages more than $9 billion in investments across North America, China, Southeast Asia, India, Latin Read more…
Good news for fintech startups in developing markets! Quona Capital recently announced that it has closed its latest fintech fund, its third, at $332 million. The venture capital firm, which specializes in emerging markets, noted that the amount raised topped its target of $250 million. The new fund, Fund III, will be focused on companies Read more…
Tonik is adding two new loan products to its suite of banking tools. The new offerings include Flex Loan, an unsecured personal loan, and Big Loan, a home equity line of credit. Tonik received the first digital bank license issued by the Philippines’ central bank, Bangko Sentral ng Pilipinas (BSP). Tonik is one of the Read more…
2022 is marking the beginning of an economic downturn. Consumers are feeling the pain associated with high inflation, corporations are seeing decreased stock performance, and startups are experiencing lower funding amounts, lower valuations, and lower M&A numbers. We recently reviewed FT Partners’ Q3 Quarterly Fintech Insights Report to take a look at how M&A activity Read more…
Digital banking solutions provider Moneythor launched a new engagement tool for wealth managers. The new offering is designed to help wealth managers leverage client data to create more personalized experiences that help customers build their wealth. Moneythor was a finalist in this year’s Finovate Awards in the “Best Fintech Partnership” category. Moneythor, a Finovate Awards Read more…
Pakistan-based embedded finance platform Neem forged a strategic partnership with BPC this week. The first Pakistan fintech to be enabled by BPC, Neem will use the company’s SmartVista platform to power its embedded finance infrastructure. Neem is targeting the more than 200 million consumers and 3.3 million micro, small, and medium sized enterprises (MSMEs) that Read more…
SME financing platform Crowdz has teamed up with London-based GoCardless. The partnership will enable Crowdz to leverage open banking to enhance its ability to provide small businesses with working capital. Headquartered in Campbell, California, and founded in 2015, Crowdz made its Finovate debut at FinovateEurope 2020 in Berlin. Small business financing platform Crowdz has partnered Read more…
Financial solutions provider Finastra announced a strategic collaboration with digital trade finance network Contour. Finastra also announced a partnership with India’s Kotak Mahindra Bank, bringing its Unified Corporate Portal solution to support the institution’s corporate banking portal Kotak FYN. Formed via a merger between Misys and D+H in 2017, Finastra also recently announced the appointment Read more…
The ESG (Environmental, Social, and Governance) movement may be drawing snickers from some corners of the investing world. But in places like Singapore, the drive to build a more sustainable, equitable, and accountable world for investors and users of financial services, is picking up steam. This week, the Monetary Authority of Singapore announced the launch Read more…
HSBC has tapped Nova Credit to integrate the company’s Credit Passport, a cross-border credit data product. As part of the partnership, Nova Credit received a $10 million investment, bringing its total funding to more than $79 million. HSBC deployed Nova Credit’s Credit Passport at HSBC Singapore in May and plans to expand its use of Read more…