Fintech funding rebounds in Q2 but deal numbers continue to fall
VC-backed fintech deals dived from 452 in Q1 to 397 in Q2.
Asia
Bank of Baroda credit card subsidiary picks Fiserv’s FirstVision
FirstVision will be deployed on an outsourced basis.
Uzbekistan’s People’s Bank selects Fusion Risk from Finastra
FinExtra Group and Neoflex to deploy the system locally.
UAE’s remittance fintech Denarii Cash expands beyond Middle East
The new corridors span the Middle East, and into South East Asia and Africa.
India’s large FIs “don’t believe in their youngsters” says Slice CEO
“All the banks see is risk,” Slice’s CEO Rajan Bajaj tells FinTech Futures.
TBC Bank launches in Uzbekistan with Capital Banking Solutions
Georgian bank expands its horizons with new digital venture.
Report: The future of digital wealth management
A new FinTech Futures report examines the future of wealth management in a digital era.
SoftBank-backed Policybazaar aims for 2021 IPO at $3.5bn valuation
Policybazaar expects to return to profitability by the end of this year.
Banking Technology July/August 2020 issue out now
Unlocking the benefits of open banking.
Paytm to buy insurance firm Raheja QBE for $76m
Raheja QBE has around 41,000 customers.
PolicyBazaar’s CEO calls SoftBank-backed expansion a “mistake”
“The point is you don’t double capacity suddenly, it doesn’t help,” says CEO Yashish Dahiya.
SoftBank splashes $130m in Indian insurtech PolicyBazaar
SoftBank now holds more than a 15% stake.
National Bank of Pakistan modernises pool management
The upgrade “promises to set an industry standard for Islamic banking in the country”.
Overcoming challenges on the road to open banking success
FinTech Futures speaks to Rajashekara V. Maiya at Infosys Finacle about open banking.
Pakistani fintech SadaPay lands CTO from Indonesian unicorn Gojek
Gojek is Indonesia’s most valuable start-up.
B21 launches crypto trading app in India following regulation clarity
India has seen a spike in crypto investing in the last months.
Fintech start-up Simpl targets India’s low credit card adoption
Just 3.85% of Indian consumers have credit cards.
Xalq Bank goes live with TranzAxis from Compass Plus
Xalq Bank joins compatriot Unibank as a TranzAxis user.
Newly licensed RevoluPAY taps global remittance market
The fintech landed its PSD2 licence in Spain at the end of May.
Khan Bank moves to Apache Cassandra with DataStax
The Mongolia-based bank has partnered with DataStax to improve its digital banking technology.
Kazakhstan’s ecommerce banking app Kaspi quietly expands in CIS region
Kaspi made more than half a billion last year in profits.
IIFL helps bridge the funding gap for India’s fintech start-ups
The firm says it will fund, mentor and use the fintechs’ products.
Pakistan regulator accepts batch of start-ups for regulatory sandbox
The Securities and Exchange Commission of Pakistan received 32 applications.
Federal Bank picks ACI Worldwide to boost fraud protection
More than $30m was stolen by fraudsters in India last year.
Indian digital wallet LovePay targets Gen Z market
The fintech already has more than 100,00 sign-ups.
Indian SME fintech Zaggle partners with Visa to launch ‘Founders Card’
Both firms want to speed up access to credit for SMEs.
India’s central bank creates $66m digital payments infrastructure fund
RBI has made an initial seed contribution of $33 million (RS 250 crore).
UK fintech Minted to launch in July with 2021 digital bank plans
The fintech is sharia-compliant and follows AAOIFI rules on gold.
DBS Bank launches real-time payments solution for India truck drivers
The bank partnered with the Transport Corporation of India.
India’s central bank says there are no curbs for banks to serve crypto traders
“No such prohibition exists” for banks, says regulator.
India among major markets to see increase in ATM usage over 2019
Research suggests ATMs are still popular tools for financial inclusion.
Bank of India selects Uniken REL-ID to secure digital channels
Two firms extend decade-long systems partnership.
India’s micro business financer Lendingkart raises $42.1m in Series D
The total raised includes the start-up’s D1 raise last August.
Indian neobank Walrus aims for teenage market
Newly launched bank wants to help teens learn about “bad world of money”.
MoneyGram and Federal Bank tie up remittance partnership
The partners will offer direct-to-account crediting.
Global fintech sees worst Q1 since 2016 for VC-backed deals
The quarter saw just 404 deals and ended on $6.1 billion.
SadaPay drives contactless adoption with Mastercard in Pakistan
The digital wallet aims to deliver three million cards over the next five years.
India’s FSS helps Fair Play deliver online payment acquiring
Fair Play is deploying FFS’ Payment Gateway and Merchant Hub.
Paytm Payments Bank partners with Mastercard for physical card rollout
Beta users of the bank will be first to receive the new cards.
Hi-Pay launches Mongolian payments gateway with ACI Worldwide
Hi-Pay selected ACI’s UP eCommerce Payments system.
