Finovate Global

Finovate Global: Fintech News from Around the World

By David Penn Posted on
Categories: Asseco, Finovate Global, NICE Systems, PayPal, Sberbank, Tinkoff Credit Systems

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.

Central and Eastern Europe

  • Central Banking’s FinTech & RegTech Global Awards names the Bank of Lithuania as the winner of its Catalyst Award.
  • Halyk Bank Georgia implements new omnichannel system from Asseco geared toward retail clients.
  • Global Finance sits down for a conversation with Tinkoff Bank VP Maxim Evdokimov.
  • Sberbank partners with 500 Startups to launch Russian fintech accelerator.

Middle East and Northern Africa

  • Abu Dhabi Global Market (ADGM) introduces funding rules for private financing platforms (PFPs).
  • Bank Al-Tamweel Wa Al-Inma (BTI Bank) in Morocco to deploy Path Solutions’ iMAL core banking system.
  • IT Web Africa looks at the technological and operational challenges of banking for the underbanked in North Africa.

Central and South Asia

  • Indian digital lending startup Kissht closes $30 million Series C.
  • Fintech Valley Vizag of India partners with Bizofit to launch $1 million startup challenge.
  • India Post Payments Bank to deploy payments technology from Financial Software and Systems.

Latin America and the Caribbean

  • PayPal’s Xoom partners with OXXO to add more than 17,000 new cash pickup locations in Mexico.
  • Argentina’s digital bank Wilobank picks Spanish technology provider Indra as implementation partner.
  • Forbes profiles Brazilian fintech Neon.

Asia-Pacific

  • UnionPay introduces cross-border mobile payments service in Hong Kong, Macau.
  • Thailand’s Bank of Ayudhya chooses NICE Actimize to transform its AML compliance capabilities.
  • Blockchain patent activity picks up in China.

Sub-Saharan Africa

  • South African payments startup Yoco picks up $16 million in funding.
  • Nigeria’s Paga raises $10 million in round led by Global Investment Fund (GIF).
  • Development finance company Financial Sector Deepening Africa estimates fintech’s contribution to Africa’s GDP at $150 billion by 2022.

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Finovate Global: Fintech News from Around the World

By David Penn Posted on
Categories: Azimo, Finastra, Finovate Global, Fintech OS, Fiserv, Fortytwo Data, NICE Systems, Standard Chartered Bank, wipro

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.

Sub-Saharan Africa

  • BanQu launches partnership with Anheuser-Busch InBev to revolutionize supply chain transparency in Zambia.
  • WorldRemit unveils new digital money transfer service for Kenya, Rwanda, Tanzania, and Uganda.
  • Forbes looks at the presence of fintech specialists – including representatives from Azimo and Standard Chartered – during UK Prime Minister Theresa May’s recent visit to South Africa, Nigeria, and Kenya.

Central and Eastern Europe

  • Entrepreneur.com features Fintech OS in a discussion on fintech innovation in Romania.
  • Fortytwo Data opens its first international office in Kiev, Ukraine.
  • Hungary to go live with instant payments in July of 2019.

Middle East and Northern Africa

  • Finastra joins Bahrain FinTech Bay to promote fintech innovation in the Middle East.
  • FinTech Hive, the biggest accelerator in the Middle East, Africa, and South Asia introduces its incoming startup cohort – 50% of which is fintech.
  • Sarwa, a wealth tech innovator based in the UAE, raises $1.3 million in pre-Series A funding.
  • United Bank of Egypt leverages technology from Finastra to upgrade its core banking infrastructure.

Central and South Asia

  • India-based IT consultancy Wipro inks agreement with Alight Solutions.
  • Legendary investor Warren Buffett reportedly casts his gaze on India’s fintech market.
  • Tech in Asia features the 20 top-funded fintech companies in India.

Latin America and the Caribbean

  • NICE provides its Desktop Automation solution to Latin American CRM and BPO solution provider, Liq.
  • Fintech Futures publishes a look at neobanks in Latin America.
  • LATAM Tech features Christine Chang of Startupbootcamp on the fintech startup scene in Latin America.

Asia-Pacific

  • Fiserv to power Philippine Veterans Bank’s digital transformation.
  • Bangkok Bank invites fintech startups to apply to its 12-week, InnoHub accelerator program.
  • Standard Chartered appoints Deniz Güven as CEO for its virtual bank in Hong Kong.
  • Visionet Data International and SmartPesa bring mPOS payment service, Mobey, to Indonesia.

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Finovate Global: Fintech News from Around the World

By David Penn Posted on
Categories: Azimo, Compass Plus, Finovate Global, InComm, Modo Payments, Sberbank

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.

Asia-Pacific

  • InComm launches Google Play gift cards in Thailand as it celebrates its 10th anniversary in the Asia-Pacific region.
  • Bank of Thailand announces plans to develop a central bank digital currency (CBDC).
  • Indonesia’s KoinWorks, an online P2P lending marketplace, locks in $16.5 million in funding.
  • Singapore-based crypto payments startup, Terra, raises $32 million in funding.

Sub-Saharan Africa

  • Azimo forges strategic partnership with African payments business, Interswitch Group.
  • Nigerian payment startup Paystack picks up $8 million Series A investment in round led by Stripe.
  • South Africa-based bitcoin wallet Luno tops two million customer milestone.

Central and Eastern Europe

  • Sberbank becomes Founding Partner of World Economic Forum Centre for Cybersecurity.
  • A pair of fintech entrepreneurs from Latvia have bought Colorado National Bank for $8.97 million.
  • Bank of Russia’s Corporate University hosts workshop on functioning of regulatory sandbox.

Middle East and Northern Africa

  • Modo teams up with Etihad Airways to build loyalty solution for airline industry.
  • Emirates NBD launches DirectRemit service to the U.K.
  • Forbes Middle East profiles the fintech industry in Lebanon.

Central and South Asia

  • India-based startup PaySpoon to provide mobile-first credit options for consumers.
  • ZestMoney, a digital lending startup based in Begaluru, has raised $13.4 million in Series A funding.
  • Entrepreneur India explains why new entrepreneurs should “consider fintech as a sweet spot.”

Latin America and the Caribbean

  • Compass Plus migrates Brazilian prepaid card issuer, BPP, to its platform.
  • PYMNTS.com looks at partnerships between fintechs and traditional FIs in Mexico.
  • Wirecard Brazil introduces new financial features for its entrepreneur customers.

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Finovate Global: Fintech News from Around the World

By David Penn Posted on
Categories: Finovate Global

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

  • Officials from the incoming Mexican administration see fintechs and corporate banks as key to increasing financial inclusion in the country.
  • LATAM Tech looks at “Peru’s promising startup future.”
  • Bolivia’s Pagina Siete previews Digital Bank’s efforts to bring Latin American fintech and Latin American banks closer together. In Spanish.

Asia-Pacific

  • Singapore-based Funding Societies tops S$200 million in crowdfunded SME loans.
  • Alipay introduces the world’s first paperless mobile tax refund in South Korea.
  • Cambodia Fintech Association officially launches in Phnom Penh.

Sub-Saharan Africa

  • Nigerian early-stage investment fund Microtraction invests in a pair of fintech startups Wallet.ng and Allpro.
  • Equity Group announces its mobile virtual network operator (MVNO) Finserve will operate autonomously to help spur fintech innovation in Kenya and other parts of Africa.
  • IT News Africa highlights “African fintech startups to look out for in 2018.”

Central and Eastern Europe

  • Lithuania’s Debitum Network leverages blockchain technology to help connect small business with alternative financing options.
  • Business Review features Romanian’s first technology accelerator, Techcelerator.
  • Ukraine considers legislation to recognize cryptocurrencies as financial assets.

Middle East and Northern Africa

  • ZDNet explains why Egypt’s unbanked and underbanked population is “ripe for a FinTech revolution.”
  • Dubai’s Jabbar Internet unveils new company, Kambio Ventures, that will develop a blockchain-based funding platform for startups.
  • Saudi Arabia, the UAE, and Bahrain discuss “coordinated approach” to supporting fintech innovation in the area.

Central and South Asia

  • Talks between Alibaba and Reliance Retail could signal the Chinese e-commerce titan’s plans for greater presence in India’s retail market.
  • Flipkart acquires India-based speech recognition start-up, Liv.ai, in a bid to boost voice-based ecommerce.
  • Paytm launches Paytm AI Cloud for India, offering a set of solutions for developers to automate workflows and integrate payments and other features.

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Finovate Global: Fintech News from Around the World

By David Penn Posted on
Categories: Finastra, Finovate Global, Ripple, Sberbank, Temenos

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.

Central and South Asia

  • Pakistan joins Emirates Islamic QuickRemit online fund transfer service.
  • The State Bank of Mauritius picks Miles Software’s Moneyware platform for wealth management and banking operations.
  • DBS India joins SWIFT Global Payments Innovation (gpi) to bring better cash flow visibility via real-time cross border payment tracking for the firm’s corporate clients in India.

Latin America and the Caribbean

  • Payments Journal highlights Boom Credit, a Miami, Florida-based fintech with a focus on the Mexican market.
  • Pequenas Empresas & Grades Negocios interviews Creditas founder Sergio Furio. (In Portuguese).
  • Central banks of Curacao and St. Maarten partner with blockchain company Bitt to investigate the creation of a digital currency.

Asia-Pacific

  • Singapore’s Association of Banks makes its P2P funds transfer app, PayNow, available for business use.
  • Singapore-based international money transfer startup InstaReM announces new Chief Technical Officer, Niles Pathak.
  • CNBC reports that Ripple is looking to enter the Chinese cross-border payments market.

Sub-Saharan Africa

  • Nigerian digital lending platform Mines picks up $13 million investment.
  • Postbank Kenya launches mobile banking service, M-chama.
  • United Nations Economic Commission for Africa (ECA) teams up with the International Financial Corporation and Ant Financial to support digital financial inclusion in Africa.

Central and Eastern Europe

  • Sberbank sees a cashless payments boom in Russia.
  • Crimea’s largest bank replaces Visa and Mastercard as part of transition to Russia’s MIR payment system.
  • Forbes interviews Olga Feldmeier, CEO of Ukraine-based Smart Valor.

Middle East and Northern Africa

  • Temenos to collaborate with the Venture Lab at The American University in Cairo.
  • National Bank of Egypt chooses Fusion Treasury and Fusion Risk from Finastra in upgrade of its treasury and risk management operations.
  • Agricultural Bank of Sudan goes live on ICS Banks Islamic from ICS Financial Systems.
  • Attijariwafa Bank to deploy Path Solutions’ Sharia-compliant, iMAL core banking solution.

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Finovate Global: Fintech News from Around the World

By David Penn Posted on
Categories: Cryperium, Finovate Global, Infosys, Sberbank, Temenos, Worldline

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.

Middle East and Northern Africa

  • Turkey’s Albaraka Turk introduces interest-free digital banking app designed for Europe’s Muslim community.
  • National Bank of Bahrain launches digital payment and trade finance portal.
  • Ziraat Bankası KSA, a Saudi Arabian subsidiary of Turkish banking Group Ziraat, upgrades its core banking system to Temenos T24.

Central and South Asia

  • JP Morgan establishes Financial Inclusion Lab in partnership with the Indian Institute of Management Ahmedabad’s Centre for Innovation, Incubation and Entrepreneurship (CIIE).
  • India Post Payments Bank (IPPB) scheduled for August launch with core banking technology from Infosys Finacle.
  • City Bank unveils end-to-end digital supply chain finance facility in Bangladesh.

Latin America and the Caribbean

  • EBANX and Wordline partner to launch new debit card payment option for Spotify Brazil.
  • Brazil’s Zen Finance to offer $1 billion in working capital to SMEs courtesy of funding from BRL Trust and BRZ Investments. In Portuguese.
  • Crypto Insider sees a lot to like in Mexico’s fintech industry.

Asia-Pacific

  • United Overseas Bank plans digital-only bank to appeal to South East Asia’s mobile-first consumers.
  • Australian challenger bank Judo Capital raises $140 million in funding.
  • Singapore Ministry of Education launches IBF Careers Connect to help train and retrain financial professionals.

Sub-Saharan Africa

  • Central Bank of Nigeria (CBN) develops risk-based cyber security framework for banks and PSPs.
  • Absa Group of South Africa launches WhatsApp banking.
  • Nigeria’s Paylater reaches one million download milestone for its financial services app.
  • Pan-African banking group Ecobank names finalists for its annual fintech challenge competition.

Central and Eastern Europe

  • Cryperium Releases Crypto-Fiat Solution.
  • Sberbank Group CTO David Rafalovsky selected to lead Sberbank’s Technology Block.
  • IBM Ukraine wins bid to develop information technology for NJSC Naftogaz Ukrainy.
  • Google Pay arrives in Croatia, making it the third CEE country to gain support for the technology.

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Finovate Global: Fintech News from Around the World

By David Penn Posted on
Categories: Experian, Finovate Global, IBM, MasterCard

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.

Central and Eastern Europe

  • Poland’s Horum Bank, a mobile bank based on blockchain technology, prepares for launch, most likely in the Baltics.
  • VTB Bank in Armenia goes live mobile banking and enhances internet banking services.
  • Emerging Europe examines the fintech industry in Romania “and beyond.”

Middle East and Northern Africa

  • Turkey’s İşbank opens API portal with 14 APIs including payments plans, credit scores, and customer accounts.
  • UAE’s Trriple announces upgrades to its mobile wallet app, making top-ups easier and adding a loyalty program.
  • Growth Business UK features Dubai-based crowdfunding platform, Eurecca.

Central and South Asia

  • Mastercard launches its Simplify Commerce platform in Sri Lanka.
  • Forbes looks at how the election of Imran Khan as Pakistan’s new prime minister could impact the country’s fintech industry.
  • Paysense, a fintech based in Mumbai, India, raised $18 million in funding in a round led by PayU.

Latin America and the Caribbean

  • Worldline and Brazilian fintech EBANX produce new payment method for Brazilian users of Spotify.
  • Bradesco and Banco do Brasil launch urban mobility payment company, Veloe.
  • International Tax Review looks at the tax policy and the crowdfunding industry in Mexico.

Asia-Pacific

  • Experian leads $28 million investment in C88 Financial Technologies Group as part of effort to boost financial inclusion in Southeast Asia.
  • U.K.-based Online Blockchain introduces ManilaCoin, a cryptocurrency designed to promote financial inclusion in the Philippines.
  • IBM lands managed services deal with Thailand’s Krungsri (Bank of Ayudhya) valued at $140 million.

Sub-Saharan Africa

  • Kenyan fintech Tulaa raises $627k in seed funding. The Nairobi-based company helps small farmers access credit and markets.
  • Alpha Code, an accelerator and incubator headquartered in South Africa, begins accepting applications for its AlphaCode Incubate Programme.
  • Nigeria’s National Identity Management Commission encourages private and public sector IT leaders to focus on digital inclusion.

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Finovate Global: Fintech News from Around the World

By David Penn Posted on
Categories: Finovate Global, Onfido, Personetics, Temenos, Trulioo, VISA

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.

Sub-Saharan Africa

  • Mookh Africa, a fintech startup from Kenya that has developed a social business payments solution, wins Visa’s Sub Saharan Africa Everywhere Initiative contest.
  • Techpoint declares 2018 The Year of the Nigerian Fintech Startup.
  • Temenos taps Alexandre Menage as new Head of Sales for Africa.

Central and Eastern Europe

  • Equities.com reviews the 10 Hottest Places to Launch a Fintech Startup in Central and Eastern Europe.
  • Total Croatia News looks at money transfer startup, Aircash, which has gained 15,000 users in the first 12 months of operation.
  • Ukraine’s Financial Stability Council issues digital currency regulating document as popularity of crytocurrency trading in the country grows.

Middle East and Northern Africa

  • Salaam Gateway discusses how Dubai’s FinTech Hive supports Islamic fintech with the organization’s executive Vice President, Raja Al Mazrouei.
  • UAE-based merchant acquirer Network International introduces e-commerce platform for SMEs.
  • Daily Sabah looks at venture investment in Turkey in the first half of 2018.

Central and South Asia

  • Aurora talks with President and CEO of Telenor Bank, Shahid Mustafa about microfinance and e-commerce in Pakistan.
  • Onfido to Secure Drivers for India’s Largest Rideshare Company.
  • Fortune India interviews PayU India’s CEO Amrish Rau.

Latin America and the Caribbean

  • Incoming cohort for Startupbootcamp FinTech’s second Latin America-oriented program features fintechs from Mexico, Costa Rica, Ecuador, Chile, and Peru.
  • The Sociable profiles Microsoft-backed Imagine Lab Chile.
  • PYMNTS.com looks at how financial institutions in Latin America are coping with cyber fraud.

Asia-Pacific

  • Trulioo extends its identity and business verification service to the Philippines.
  • Personetics Scores Minority Stake Investment from United Overseas Bank.
  • Hong Kong Monetary Authority unveils Open API framework.

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Finovate Global: Fintech News from Around the World

By David Penn Posted on
Categories: Finovate Global, Sberbank, Token

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.

Asia-Pacific

  • Chinese fintech solutions provider Pintec files $70 million IPO.
  • Shwe Rural and Urban Development Bank in Myanmar partners with JMR Infotech to better scale its online services.
  • Hong Kong banks team up to launch blockchain-based trade finance platform.

Sub-Saharan Africa

  • The Fintech Association of Nigeria celebrates its first anniversary.
  • Disrupt Africa looks at a pair of investments in Nigerian fintechs: CowryWise and Bitcoin Africa.
  • SophiaTX and South Africa’s ArkTree announce new strategic alliance to expand the global reach of blockchain technology

Central and Eastern Europe

  • Hungarian bank MKB, the fourth largest commercial bank in the country, deploys Oracle Flexcube to streamline operations.
  • Open banking platform innovator Token announces that its technology has been implemented by Sberbank in Slovenia.
  • Israel-based cashless payments solution and management platform Nayax opens office in Lithuania.

Middle East and Northern Africa

  • Jihad Azour, Director of IMF Middle East and Central Asia, delivers a speech at the Arab Economic Forum in Lebanon: Promoting the Inclusive Growth Agenda in the Arab Region.
  • Saudi Arabia grants its first set of fintech licenses to a pair of Saudi crowdfunding platforms, Manafa Capital and Scopeer.
  • Dubai International Financial Centre (DIFC) notes a strong start in 2018 with the number of active registered companies climbing by 8%.

Central and South Asia

  • Study from JP Morgan looks at the untapped opportunities in the Indian fintech space.
  • FSS introduces FSS eFinclusiv, a financial inclusion solution geared toward serving the underbanked in India.
  • Russia’s National Settlement Depository to connect Kyrgyzstan’s Bank of Asia to SWIFT.

Latin America and the Caribbean

  • El Cronista interviews Rafael Hernandez, senior partner of fintech at Village Capital, on business opportunities in Buenos Aires, Argentina. In Spanish.
  • Brazilian online broker Toro Investmentos begins operation this week.
  • Bank of Asia goes live as the first digital bank in the British Virgin Islands.

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Finovate Global: Fintech News from Around the World

By David Penn Posted on
Categories: Efigence, Finovate Global, NF Innova, Sberbank, TransferWise, VISA


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

  • Brazilian card processor Conductor to deploy 3D Secure authentication technology from TAS Group later this fall.
  • Distributed check capture specialist Panini and technology distributor J. Fleischman team up to bring check truncation to Paraguay.
  • Visa introduces loyalty program available to issuing banks in Latin America and the Caribbean.

Asia-Pacific

  • TransferWise opens office in Hong Kong as part of expansion into Asia.
  • AsiaCollect, a credit management services provider based in Singapore, raises $4.5 million in funding.
  • Foreign exchange and international payments company, Frontierpay, opens Asian headquarters in Singapore.

Sub-Saharan Africa

  • South African fintech walletdoc partners with EasyPay to make it easier for consumer to pay monthly subscriptions and utilities.
  • Western Union opens office in Ivory Coast.
  • Nigeria’s Bureau of Public Procurement introduces eGovernment Procurement System.

Central and Eastern Europe

  • Albania’s Raiffeisen Bank Shqipëri partners with NF Innova to deploy digital self-service kiosks.
  • Efigence provides UI/UX design, development and implementation for new investment platform from Polish home equities broker, CDM Pekao.
  • Russian SME crowdfunding platform SimplyFi partners with Tochka Bank to offer direct lending to the bank’s business customers.
  • Sberbank introduces support for Google Pay.
  • Western Union partners with Russia’s Post Bank, enabling money transfers via Post Bank’s mobile app.

Middle East and Northern Africa

  • Kuwait Finance House (KFH) to use VISA’s token service for its mobile wallet.
  • Saudi Arabia-based Maalem Financing to deploy Islamic core banking technology from Path Solutions.
  • Turkish government launches fintech task force to improve fintech ecosystem locally.

Central and South Asia

  • The Economic Times looks at the role of bankers in India’s “coming fintech revolution.”
  • RBS India, the innovation hub of the Royal Bank of Scotland, to launch forum on disability inclusion.
  • PaySend joins Astana International Finance Centre (AIFC), a central Asian fintech hub based in Kazakhstan.

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Finovate Global: Fintech News from Around the World

By David Penn Posted on
Categories: Finovate Global, Twisto

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.

Middle East and Northern Africa

  • UAE’s Foloosi introduces cashless transactions via digital wallet.
  • Revenue management specialist SunTec partners with UAE’s Mashreq Bank.
  • Jumhouria Bank of Libya to deploy reconciliation management technology from SmartStream Technologies.

Latin America

  • Fintech Futures takes a look at Mexico’s preparation for implementation of its new fintech law.
  • TyN Magazine profiles Argentine P2P lender, TuTasa. In Spanish.
  • Bermuda’s government to amend banking laws to support new class of banks to work with local fintech and blockchain startups.

Asia

  • Bloomberg investigates the challenges Singapore is facing in trying to meet its fintech aspirations at a time of stiff competition for engineering talent.
  • Will China step up regulations on its P2P lending industry?
  • Lattice80 and SuperCharger team up to develop bridge between fintechs in Singapore and fintechs in Hong Kong.

Sub-Saharan Africa

  • Nigerian logistics startup Kobo360 picks up $1.2 million in pre-seed funding; announces launch of Kobo Wealth Investment Network, a crowd investing vehicle financing program.
  • Creamer Media’s Engineering News looks at how policymaking in South Africa will affect fintech innovation in the country.
  • Nuadox features its seven African fintech startups to follow in 2018.

Central and Eastern Europe

  • Silicon Republic features expense-tracking tool BudgetBakers, PFM solution Spendee, and financial services provider for the underserved Twisto in its list of 10 Outstanding Start-ups from Prague to Watch.
  • Blockchain innovator Billon is the first Polish company to be featured in the FinTech 50.
  • Bank of Lithuania introduces regtech solution to make it easier for companies to remotely apply for e-money and payment institution licenses.

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Finovate Global: Fintech News from Around the World

By David Penn Posted on
Categories: BLUERUSH, Finovate Global, MasterCard

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.

Central and Eastern Europe

  • Raiffeisen Bank Romania unveils eight fintech finalists for its Elevator Lab Challenge.
  • Alfa-Bank Belarus migrates to WAY4 platform from digital payments solutions provider OpenWay.
  • 150Sec.com takes a look at the graduating cohort of 19 fintech startups emerging from Latvia and Estonia accelerator programs.

Middle East and Northern Africa

  • Dubai Financial Services Authority (DFSA) signs MoU with Astana Financial Services Authority.
  • Bahrain Development Bank (BDB) announces closing $100 million fundraising round for its Al Waha Fund of Funds.
  • Abu Dhabi Global Market (ADGM) introduces its regulatory framework for spot crypto asset activities.

Latin America

  • BlueRush teams up with Kunder to forge partnership with Chilean pension fund leader, AFPHabitat.
  • Integrated Biometrics announces its 10-print fingerprint scanners have become the standard for financial service organizations in Mexico.
  • Argentine fintech Increase earns Best of the World award for its positive social and environmental impact.

Asia

  • MatchMove powers the first contactless prepaid Mastercard in South Asia
  • Singapore’s PayNow service to be extended to corporate customers with launch of PayNow Corporate later this summer.
  • Cambodia announces plans to build $70 million data center to support development of the country’s digital economy.

Sub-Saharan Africa

  • IT News Africa’s 5 Most Innovative Startups in Kenya list features P2P micro lending marketplace Pezesha; SaaS mobile commerce platform, Sky.Garden; and FX and payment platform, BitPesa.
  • EcoFin Hebdo looks at the rise of insurtech in Africa. In French.
  • Online sports betting in Nigeria sees boost as popularity of digital payments agrows.

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