Philippines signs MoU with India to strengthen fintech cooperation
The MoU will help establish a joint working group on fintech between the two countries.
Asia
ICYMI fintech funding round-up: Kanastra, Majority & Cloudbankin
Our weekly fintech round-up for you to get the latest funding news from around the world.
Keytrade Bank in core banking tech overhaul with Infosys Finacle
Keytrade Bank chose Infosys Finacle due to its “worldwide expertise, implementation plan and price offering”.
India’s Fino Bank taps Hubble to launch spending account
The spending account will be integrated with Fino Bank’s digital savings app, accessible on its mobile app FinoPay.
Singapore’s Pepper Group eyes India launch with $150m investment
Pepper Money India will offer personal finance products to consumers and aims to launch second half of 2023.
Indian lendtech firm Lentra secures $27m in Series B extension
Lentra plans to use the new funds to fuel its international expansion and product development.
Irish payments start-up NomuPay lands $53.6m in funding
NomuPay plans to scale in its core markets and further invest in product development.
India’s PhonePe secures another $100m from General Atlantic
With the latest funding, PhonePe has raised a total of $850 million in the current round.
North East Small Finance Bank migrates to new core, Turing CBS from M2P
Turing CBS is understood to have replaced FIS’ Profile core banking system at NESFB.
ZestMoney founders step down following failed acquisition by PhonePe
Lizzie Chapman, Ashish Anantharaman, and Priya Sharma are all set to leave the company.
Pakistan’s UBL Fund Managers taps Codebase for digital onboarding solution
The omnichannel digital onboarding solution has been built using Codebase’s Digibanc platform.
UK regtech Facctum appoints two senior executives
Onkar Inamdar joins as head of engineering and Syam Chintapenta as chief development officer.
Indian fintech unicorn Open lays off 47 employees
Open says the cuts were based on employee performance.
IFGS 2023: Collaboration key for Singapore’s burgeoning fintech sector
Sopnendu Mohanty, chief fintech officer at MAS, discussed the country’s strategies and successes at IFGS 2023.
PhonePe’s funding spree continues as it raises another $100m
PhonePe has received the new funding from returning investor General Atlantic.
Navan acquires Indian travel expense management firm Tripeur
The agreement marks Navan’s fifth acquisition in the last two years.
Pakistan’s Samba Bank extends Temenos partnership with Transact core banking upgrade
Samba Bank says its partnership with Temenos and NdcTech has enabled it to “future-proof” its growth.
DMI Finance bags $400m equity funding led by MUFG
Also taking part in the round was existing investor Sumitomo Mitsui Trust Bank.
India’s PhonePe calls off acquisition of BNPL firm ZestMoney
PhonePe was in talks to acquire ZestMoney for around $200 million to $300 million according to reports.
Pakistan’s latest digital bank HugoBank names Atyab Tahir as CEO
Tahir brings more than 20 years of experience to the newly founded digital bank.
Askari Bank taps BPC for credit card and fraud management tech
The deployment of BPC’s solutions will support Askari Bank with its ongoing expansion.
Indian lendtech Stashfin secures $100m in debt funding
The latest funding follows the company’s $270 million Series C round held in June last year.
India’s PhonePe secures additional $200m from Walmart
The fresh funding forms part of PhonePe’s ongoing fundraise of up to $1 billion in capital.
Central banks of UAE and India partner for cross-border CBDC testing
The central banks will conduct joint proof of concept and pilots of bilateral CBDC cross-border transactions.
Apexx Global bags $25m in Series B funding round
With the new funds, Apexx Global plans to expand further across North America.
RBI fines Amazon Pay’s India unit $374,000
The central bank claims Amazon Pay India didn’t comply with “certain provisions” of KYC and PPI directions.
Thought Machine plans to boost headcount by 20% in 2023
Thought Machine intends to hire across India, Japan and South Africa for the first time.
Panamax expands global reach with Acute Informatics acquisition
Panamax’s CEO says the acquisition of India-based Acute is a “strategic move to expand our horizons”.
Indian telecom firm Airtel’s merger talks with Paytm reportedly fall through
Sources tell CNBC-TV18 that Paytm didn’t want to give up management control.
Indian SaaS fintech Mintoak bags $20m in Series A funding
PayPal Ventures led the funding round, with new and existing investors also participating.
Singapore and India link up PayNow and UPI for real-time cross-border payments
The MAS and RBI will use a scalable cloud-based infrastructure to manage future increases in remittance volumes.
Unity Small Finance Bank taps M2P for core banking upgrade
The Indian bank will deploy M2P’s Turing CBS offering.
New “cross-border neobank” in India: moneyHOP
FinTech Futures sits down for a chat with Mayank Goyal, founder and CEO of moneyHOP.
India’s PhonePe nets additional $100m in ongoing fundraise
The new capital infusion follows a $350 million fundraise from General Atlantic last month.
Asia Alliance Bank in tech overhaul with Temenos and Foranx
Temenos’ core banking system will be implemented by the vendor’s regional partner, Foranx.
Turkey’s Quick Finans taps Provenir for data and risk decisioning platform
Quick Finans selected Provenir’s tech to enhance its customer onboarding process.
Oracle Flexcube core banking system gains new takers
The banking tech vendor also signed licence fees of $27.5 million in the latest quarter.
India’s PhonePe lands $350m from General Atlantic at $12bn valuation
PhonePe expects to raise a total of $1 billion in funding, with other firms set to invest next month.
Indian government set to spend $320m to boost adoption of digital payments
The government hopes its plan will facilitate the development of “a robust digital payment ecosystem”.
State Bank of Pakistan names five successful digital bank applicants
The country’s central bank and regulator expects these new digital banks to promote financial inclusion.
