Report: Five success factors for an ideal ISO 20022 migration
ISO 20022 represents an opportunity for banks to reinvent the way they operate.
Middle East
Newly licensed RevoluPAY taps global remittance market
The fintech landed its PSD2 licence in Spain at the end of May.
Commercial Bank of Dubai partners with Thunes for remittances
UAE-based bank enables transactions via its mobile app and online banking.
Pagaya raises $102m in Series D funding round
The US-Israeli wealthtech will use the investment to hire more top tier data scientists.
Transfergo raises $10m, expands into 11 new markets
Remittance firm claims uptake in growth during COVID-19 pandemic.
Muniy chooses HooYu for KYC and raises £200,000
The fintech says it will allow merchants to pay a lower transaction processing cost.
Halal fintech Wahed lands $25m from Saudi Aramco’s venture arm
The Islamic finance industry is set to grow to $3.8tn by 2022.
DIFC dips into $100m fund to invest in four start-ups
The Dubai-based innovation centre plans for Series A injections to come.
MoneyGram signs remittance partnership with Al Rajhi Bank
The remittance firm will support Al Rajhi in Saudi Arabia both digitally and in-branch.
MUFG triples investment in credit line fintech Fundbox
The fintech says its Series C has raised nearly $200 million.
Dubai fintech Jingle Pay to launch digital banking in UAE
The start-up brands itself as a ‘Super App Neo Bank’.
India among major markets to see increase in ATM usage over 2019
Research suggests ATMs are still popular tools for financial inclusion.
Al Alam enters liquidation following KPMG’s Wirecard audit
The firm is central to whistleblower claims that Wirecard fraudulently inflated sales & profits.
Dubai fintech Ziina lands $850,000 and launches P2P payment app
The start-up’s funding round was led by San Francisco-based Class 5 Global.
Digitalisation a must-have for lending in a post-COVID world
The coronavirus pandemic has affected and disrupted every aspect of financial services.
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).
