Safaricom and Visa sign M-Pesa partnership
The two firms will work on developing new products for the African payments platform.
Africa
Mastercard-backed Trust Stamp spins out subsidiary AiiD Global
EXCLUSIVE: the new subsidiary will specifically develop solutions for emerging markets.
Northern Trust hires Alison Pain as new EMEA CTO
Pain joins from Deutsche Bank and will lead Northern Trust’s EMEA tech ops.
Nigerian open banking fintech Okra raises $1m from TLcom
“We’re opening the door to another level of innovation,” says founder.
Webinar: Swift gpi is a chance for payments modernisation
Opportunities beyond meeting the minimum exist for banks embracing gpi.
World Fintech Report 2020: “Traditional banks are at a critical juncture”
“They must embrace Open X or risk becoming irrelevant,” says John Berry, CEO of Efma.
Jumhouria Bank goes live on SmartStream cash reconciliation system
Libya’s largest bank signed for the platform back in July 2018.
2020 Review: Top 10 core banking go-lives this quarter
Looking back at some of the most interesting core-banking go-lives this quarter.
Visa pours $210m into the coronavirus effort to help SMEs
Visa will split the money between NGOs and investment partners.
Free Senegal migrates to Comviva to boost mobile money offering
The mobile network operator has 4.4 million subscribers for its digital wallet.
Vodacom and Safaricom finalise M-Pesa acquisition
Joint venture takes control of popular mobile money brand from Vodafone.
Africa and Gulf Bank selects Path Solutions iMAL as new core system
Sudan-based bank has signed up Path Solutions and its iMAL Islamic core banking system.
Jumia steps in to assist Africa amid rising coronavirus numbers
Jumia will help various African governments distribute masks to hospitals.
Path Solutions signs Somalian challenger MyBank for iMAL core
Path Solutions says it now has a “stronger focus” on the Somali market.
Appian unveils software to help banks operate amid coronavirus outbreak
The application is only available to companies with more than 1,000 employees.
WorldRemit teams up with Paykii
It will launch international bill payments through its own app/website using Paykii’s tech.
Swift’s ISO 20022 migration set back a year to November 2022
“The new approach will avoid short-lived investments by customers,” says Swift.
Travelex owner Finablr prepares for insolvency
Finablr processed $115 billion in transactions in 2019, and more than 1,500 firms rely on it.
Mastercard and Samsung sign Pay on Demand partnership
The two firms aim to arm businesses in emerging markets.
Global fintech funding: 2018 still stands as the reigning year
As of February 2020, year-over-year deal counts were down by 22%.
Inclusion, innovation, and mobile money in Sub-Saharan Africa
“If our systems fail, a big part of the economy would fail,” says exec.
Visa teams up with Nigeria’s Paga
Lagos-based Paga holds more than 14 million customers across Nigeria.
Flywire’s CEO on unicorn status: “It means nothing until it is something”
“I’m the most anti-unicorn terminology person, so it’s quite ironic,” says Massaro.
Dutch fintech TerraPay gets acquired & raises $9.6m
“Fintechs like TerraPay play a vital role in increasing financial inclusion in emerging markets.”
Standard Bank shifts SAP core system to Microsoft Azure cloud
South African bank’s “Project Embrace” kicks off with a core switch.
South African fintech Jumo raises $55m to fuel geographic expansion
Jumo plans to break into both Cote d’Ivoire and India in 2020.
Assaray Trade and Investment Bank kicks off digital overhaul with Temenos
Libyan bank signs for Temenos Infinity and Temenos Transact.
Standard Chartered commits $75bn to sustainable development
Infrastructure projects to get $40bn, whilst renewable energy and clean tech to get $35bn.
St Helena introduces electronic payments to the island with iPayu
The island is just 16 kilometres wide in size and home to 4,500 people.
Report: The digital drive to replace the passport in financial services
FinTech Futures publishes its latest industry report, on digital identity and fraud.
National Bank of Yemen goes live on ICSFS core system
Project has been in the works since 2012.
LAPO Microfinance Bank in tech overhaul with Oracle
LAPO Microfinance Bank switching a number of systems.
Nigerian fintech start-up Aella raises $10m
This debt financing round is Aella’s second raise.
Video: Top fintech stories this week – 03 February 2020
FinTech Future’s weekly news round-up.
Rewire CEO: We want to be the financial marketplace for migrants
Traditionally, migrants have struggled to find a one stop shop for their finances.
Bank Assafa goes live on iMAL core banking system
Moroccan bank goes live after 18-month implementation period.
BIS fintech report: More harmonised standards and less TPP reliance
BIS has published a cross-country review on the fintech regulatory landscape.
Sudan’s Al Khaleej Bank selects Path Solutions and iMAL
Islamic bank looks to become leader in its market.
Kenya’s Standard Investment Bank plans $100m FX-focused fund
Mansa X as the fund is known, returned an average 24% and closed at $3 million.
Bank-backed blockchain trade platform Contour launches in Singapore
Contour is built on R3’s Corda platform.
