Turkish challenger Papara reportedly set to acquire digital wallet fintech SadaPay
The deal could be worth between $30 million and $50 million, according to media reports.
Asia
ICYMI fintech funding round-up: Fordefi, Mia Share, Kema, Coba and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
India’s Bandhan Bank goes live with Oracle’s Flexcube core banking tech
The bank has also implemented Oracle’s Banking Digital Experience and Oracle Payments solutions, among others.
India’s Unico Housing Finance secures multi-application Oracle Cloud Infrastructure deal
The integration marks the start-up’s attempt to improve the market agility of its digital loan services.
Bank of America customers impacted by data breach through Infosys McCamish Systems hack
It’s thought that 57,028 of Bank of America’s customers have been impacted.
ICYMI fintech funding round-up: Navro, Finally, Cashinvoice, SUMA Wealth and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
India’s Juspay acquires LotusPay to enhance payment capabilities
Juspay plans to enhance its offerings for the banking, financial services and insurance industries.
Nepal Clearing House selects ACI Worldwide to power National Payment Switch service
Nepal Clearing House expects to launch its NPS service in Q4 2024.
India’s PayU selects Thought Machine’s Vault Core to power LazyPay credit service
Thought Machine says PayU was able to migrate LazyPay to Vault Core in just 12 months.
India’s UPI launches in France through collaboration with Lyra Network
The move is a continuation of Indian PM Narendra Modi’s vision of “taking UPI global”.
India’s Tata Consultancy Services reportedly in the race to run UK’s Faster Payments service
The potential move would see TCS replace Mastercard’s Vocalink as the service’s technology partner.
India’s RBI orders Paytm Payments Bank to halt banking services by end of February
The RBI attributes its order to “persistent non-compliances and continued material supervisory concerns in the bank”.
Armenia’s Ardshinbank selects ERI’s Olympic Banking System for securities and forex
Ardshinbank will also integrate the vendor’s tech to strengthen its retail mobile app.
India’s CSB Bank taps Oracle for Flexcube core
The bank is set to replace its homegrown Maarvel core system with Flexcube.
NPCI teams up with Google Pay to expand UPI beyond India
UPI has been recognised as a key accelerant in the real-time availability of financial services in India.
India’s DMI Group snaps up BNPL fintech ZestMoney
The fire sale deal follows reports in December last year that ZestMoney was closing down.
Nepal’s Kumari Bank taps Compass Plus Technologies for payments processing
The pair states that it has migrated over 500,000 cards, 1,200 POS terminals and almost 300 ATMs.
Paymob lands PSP licence from Oman’s central bank
Paymob now claims to be the first international fintech company to be fully licenced in Oman.
Zimbabwe’s Success Microfinance Bank taps FinOS for core banking
The bank has partnered with FinOS to access its composable banking capabilities and increase operating ability.
National Bank of Oman partners PayMate to modernise B2B payments
Using PayMate’s tech, NBO plans to digitise, streamline and automate its B2B payment processes.
Hitachi Payment Services snaps up cash management business from Writer Corporation
“Industry veteran” Anup Neogi has also been appointed as the new managing director and CEO of the acquired business.
Indian paytech MobiKwik refiles draft papers for IPO, hopes to raise $84m
The company’s initial plans for a $255m IPO in 2021 were scrapped due to weakening market conditions.
Indian fintech PhonePe names Ritesh Pai as CEO of international payments
Pai joins PhonePe from TerraPay, where he served as president of product and solutions for three years.
Kazakhstani fintech Solva eyes future as SME-focused bank following $20m investment
The investment was backed by the Sawiris family of the Egyptian Orascom Group and ZCP.
India’s M2P Fintech acquires Goals101 to tap AI-led transaction behaviour intelligence
Goals101 and its big data platform will be integrated into M2P Fintech’s financial services suite.
Reserve Bank of India outlines plans for new fintech repository and cloud facility for FS firms
The new measures also address “moral hazard issues” in lending and boost certain transaction limits.
Hungary’s OTP Bank taps iGCB for core banking revamp
OTP Bank has selected the vendor’s Intellect Digital Core (IDC) offering and lending platform.
Indian BNPL fintech ZestMoney is reportedly closing down
ZestMoney’s leadership team has reportedly informed employees of its decision to wind down by the end of the month.
India’s PhonePe reportedly planning to launch consumer lending in January 2024
According to sources, over the next six to seven months, PhonePe plans to launch multiple consumer credit products.
Berkshire Hathaway sells stake in India’s Paytm for $165m
The exit sets Berkshire Hathaway up for a loss of around 40% on its investment.
UAE fintech start-up Dosh Payments gears up for full launch, lands tech licence from ADGM
Claiming to be the Middle East’s first social payments app, Dosh Payments has been building in stealth since 2021.
Eurasian Bank launches Digital Tenge Card in preparation for Kazakhstan’s CBDC
The National Bank of Kazakhstan intends to issue its own CBDC in late 2025.
RTGS.global signs pilot agreements for settlement service with three new banks
The three banks are Tajikistan-based Alif Bank and Bank Arvand and Montenegro’s Universal Capital Bank.
India’s InCred Finance secures unicorn status with $60m Series D funding
The Series D funding round takes InCred Finance’s valuation up to $1.05 billion.
National Bank of Georgia taps Ripple for CBDC pilot
With Ripple, Georgia’s central bank aims to explore use cases and potential benefits of having a digital currency.
IndusInd Bank taps Viamericas for digital inward remittance offering
The bank says its remittance platform provides customers with full transparency over payments.
India’s Kotak Mahindra Bank appoints Ashok Vaswani as CEO and managing director
Vaswani currently serves as president of Pagaya and as non-executive director at LSEG.
Turkish fintech Figopara taps Provenir to automate risk decisioning
The partnership comes as Figopara gears up for a “significant” international expansion push.
Indian fintech Aurionpro acquires loan management system Omnifin for $9.8m
Aurionpro says the deal “significantly accelerates” its ambitions to take its lending solutions into new markets.
ICYMI fintech funding round-up: Untangled Finance, Kennek and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
