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.
Fresh off a successful return to Singapore for FinovateAsia, we are happy to announce that FinovateMiddleEast will be back in Dubai next month, November 20 and 21. For more information about our upcoming fintech conference in the UAE, visit our FinovateMiddleEast page today.
Central and Eastern Europe
- Berlin-based, pan-European digital debt marketplace, CrossLend, picks up €34 million in round led by Santander.
- Bank of Lithuania names IBM and Tieto as finalists in its LBChain technology initiative.
- Islamic, mobile-only, challenger bank insha goes live in Berlin, Germany.
Middle East and Northern Africa
- Partnership with Diebold Nixdorf helps Lebanese Bankmed become first bank in country to introduce cash recycling.
- Bloomberg Intelligence recognizes the UAE as the world’s top Islamic fintech hub, with Bahrain as a rising challenger.
- MAGNiTT and ADGM launch new publication focusing on fintech and venture capital funding in the MENA region.
Central and Southern Asia
- Pakistan’s JS Bank launches chat banking via WhatsApp.
- Western Union enables real-time payments and money transfers to India.
- Paytm president Madhur Deora encourages Indian fintechs to appreciate the differences between Indian and Chinese markets “and adapt accordingly.”
Latin America and the Caribbean
- Stripe makes its Mexico debut.
- Brazilian fintech Nubank reaches 15 million customer mark.
- Posnet, a First Data/Fiserv company, helps Argentine consumers make purchases using digital wallets and QR codes.
Asia-Pacific
- Revolut launches in Singapore after successful 30,000 customer beta.
- CIMB Bank Singapore completes first structured trade finance transaction on blockchain.
- In partnership with Compass Plus, Mongolia’s largest bank, Trade and Development Bank (TDB) introduces the nation’s first instant card issuance project.
Sub-Saharan Africa
- Nigerian digital SME lender Lidya expands to Poland and the Czech Republic.
- Fintech Futures features Absa’s Thabo Makoko on the challenges and opportunities in the African payment industry.
- Ghana government makes plans for a cashless future.