Digitalisation a must-have for lending in a post-COVID world
The coronavirus pandemic has affected and disrupted every aspect of financial services.
Middle East
Global fintech sees worst Q1 since 2016 for VC-backed deals
The quarter saw just 404 deals and ended on $6.1 billion.
Fintech Dapi takes on MENA’s scattered open banking landscape
“The region is super scattered,” says co-founder, Mohammed Aziz, regarding open banking regulations.
Travelex owner Finablr reveals $1bn hidden debt
Finablr’s debt sits at $1.3 billion, compared to the $334 million it reported.
Path Solutions and Thomson Reuters extends GCC systems partnership
iMAL core banking and Onesource tax solutions to be offered in tandem.
HSBC freezes redundancy plans as COVID-19 hits $6bn overhaul
London-headquartered bank releases Q1 earnings with stark warning for Europe.
Deutsche Bank signs 2028 contract extension for Avaloq tech
Swiss vendor will provide BPO services foe Deutsche until 2028.
Northern Trust hires Alison Pain as new EMEA CTO
Pain joins from Deutsche Bank and will lead Northern Trust’s EMEA tech ops.
Webinar: Swift gpi is a chance for payments modernisation
Opportunities beyond meeting the minimum exist for banks embracing gpi.
Saudi Arabia’s fintech sandbox welcomes nine more start-ups
The sandbox is home to 30 fintechs.
Yemen’s Al Kuraimi Islamic Bank selects Temenos for digital banking
KIB currently serves 1.2 million customers.
Webinar: Getting reconciliation right in the ‘decade of data’
A blueprint for consolidating, automating and driving efficiency across reconciliation.
Israeli fintech BioCatch raises $145m in Series C
More than 40 financial institutions use BioCatch’s technology.
Wirecard signs payments processing partnership with Visa
The two firms will work on Visa’s Fintech Fast Track Program in the Middle East.
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.
Visa pours $210m into the coronavirus effort to help SMEs
Visa will split the money between NGOs and investment partners.
DriveWealth extends to UAE with Wealthface agreement
Trading technology firm signs first Middle East deal.
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.
Al Ansari Exchange chooses Pelican’s AI-based AML solution
Al Ansari Exchange hopes to create “an industry-leading compliance framework”.
Mastercard and Samsung sign Pay on Demand partnership
The two firms aim to arm businesses in emerging markets.
Al Wifaq International Islamic Bank selects ICSFS Islamic system
Newly established Iraqi bank picks ICSFS over five other providers.
Global fintech funding: 2018 still stands as the reigning year
As of February 2020, year-over-year deal counts were down by 22%.
GFH buys 70% stake in MENA payments fintech Marshal
Marshal has a 85% market share across the United Arab Emirates (UAE).
HPS to provide QR-based payments system in Saudi Arabia
Payments firm tapped up by Saudi Arabia’s Monetary Authority.
Poland’s digital banking provider Efigence talks private over public cloud
“Banks don’t want to invest in infrastructure when they don’t need it,” says CTO.
WeChat Pay boosts UAE footprint with Network International
Network International partners now able to connect to WeChat Pay.
Sohar International nabs Nordea’s ex-chief digital officer
The banking exec joins the Omani bank at time when profits are looking up.
Standard Chartered commits $75bn to sustainable development
Infrastructure projects to get $40bn, whilst renewable energy and clean tech to get $35bn.
Aafaq Islamic Finance goes live on Infosys Finacle
UAE institution revamps payments, core, and Islamic functions.
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.
Moven and STC Pay plan challenger bank in Saudi Arabia
Moven founder announces new bank on social media.
Gulf Bank signs up to Instimatch network
Kuwaiti bank looks to improve its treasury ops.
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.
BIS fintech report: More harmonised standards and less TPP reliance
BIS has published a cross-country review on the fintech regulatory landscape.
EXCLUSIVE: TCS to power Israeli digital bank with debut platform offering
Unnamed new challenger will use TCS for its entire tech stack.
