Finovate Global is our weekly look at fintech innovation in developing economies in Asia, Africa, the Middle East, Latin America, and Central and Eastern Europe.
- Nigerian payments company Amplify has been acquired by OneFinance (OneFi). Terms of the deal were not disclosed.
- Tech in Africa profiles Kenyan fintech Branch.
- Compelo features insurtechs and savings platforms in its presentation of African tech startups “looking to go global.”
Central and Eastern Europe
- Bank 131, Russia’s first new bank in four years, to specialize in serving online businesses.
- Estonian cryptocurrency exchange Jubiter launches debit card.
- Business Review looks at opportunities for Romanian entrepreneurs in the fintech market in the CEE region.
Middle East and Northern Africa
- Etihad Credit Insurance teams up with First Abu Dhabi Bank to help UAE companies manage trade finance.
- Egyptian cloud-based payroll service Dopay picks up €1 million line of credit from the Massif Fund.
- Emirates NBD and Fintech Hive announced launch of API sandbox.
Central and South Asia
- Pakistan’s first microfinance bank, Khushhali Bank, goes live with Temenos’ T24 core banking system.
- Google Play to launch gold-backed investment plans in India.
- Indian core banking system provider Nelito Systems inks deal with Myanmar’s Alliance for Microfinance.
Latin America and the Caribbean
- Mexico-based lender Credijuto announces $100 million credit facility courtesy of Goldman Sachs.
- Investor Tim Draper makes the case for Argentina to embrace bitcoin.
- T13 considers the slow progress of fintech regulation in Chile. In Spanish.
- ZhongAn earns virtual banking license from Hong Kong Monetary Authority.
- ING and Bank of Beijing invest $447 million in a new digital bank in China.
- Standard Chartered partners with Ctrip Finance to launch virtual bank in Hong Kong.