ICYMI fintech funding round-up: Rillet, Aveni, Mamo, Payflow, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Middle East
Israel’s ThetaRay snaps up Screena to enhance financial crime detection
Screena’s solution enhances customer onboarding by verifying entities against various sanctioned party lists.
UAE’s myZoi launches financially inclusive digital wallet with “one-to-many” transfer capabilities
The digital wallet enables transfers to up to five people for the price of one.
Bank Audi launches new digital bank Neo in Lebanon powered by Codebase Technologies
Neo is powered by UAE-based banking software vendor Codebase Technologies’ Digibanc platform.
Jordan Kuwait Bank partners Mastercard and FOO to launch multicurrency prepaid wallet offering
EliWallet will enable customers in Jordan to “transfer money swiftly across borders”, JKB says.
Bux sells UK subsidiary Bux Financial Services Limited to UAE’s Asseta Holding
The company says the sale of BFS is a “subsequent step in the divestment strategy of Bux Holding”.
Daiwa Capital Markets Europe selects Delta Capita for CLM solution
Delta Capita previously purchased LSEG’s CLM compliance solution, Client On-Boarding, in April.
UAE’s Mashreq Bank appoints Tushar Vikram as new India head
Vikram previously served as Citibank India’s head of commercial banking for over nine years.
Save now, buy later start-up Compound to launch in MENA in Q4
Compound enables users to earn rewards when saving up for purchases.
Kuwait’s central bank approves launch of new WAMD instant payments system
The system is facilitated by the K-Net national payment gateway under the supervision of the Central Bank of Kuwait.
Mashreq to roll out Flexcube core banking system across global operations
Flexcube will be implemented at Mashreq’s international hubs in Hong Kong, the US and the UK.
BaaS fintech Unit to reduce workforce by 15%
The cuts are in response to “slower than expected revenue growth”.
Revolut launches bond investing in partnership with UAE’s GTN
Bonds join Revolut’s investment offering of ETFs, and US and EEA shares.
ICYMI fintech funding round-up: Layer3, Sidekick, Elevate, Sahl, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Agora acquires Clearshift’s real estate division
Clearshift is to continue managing the division’s payment and compliance functions.
Citi extends USD Clearing service to Middle East in partnership with Emirates NBD
Emirates NBD plans to extend the service to all its 853 branches across the world.
First Abu Dhabi Bank appoints two banking veterans to leadership team
Simon Thorn and Neil Barrable join the group as chief compliance officer and chief credit officer.
Al Etihad Payments prepares to launch new domestic card scheme in UAE this month
Network International is among the first acquirers to launch Jaywan with merchants in the UAE.
Oman Arab Bank debuts new direct debit solution
OAB says its customers will no longer need to write checks or manually manage bill payments.
HSBC launches e-commerce payment solution Omni Collect in UAE in partnership with Geidea
Geidea has been selected to enhance the offering by integrating a merchant acquiring facility.
Bank Muscat’s Meethaq goes live with Temenos’ core banking tech
The bank claims to have migrated “over 200,000” customer accounts to the new cloud-based platform.
Arab National Bank in major upgrade of core banking system with Infosys Finacle
The successful upgrade has launched “a new chapter in banking at Arab National Bank”, says CIO Naif Alharbi.
Burgan Bank in core banking software modernisation with TCS Bancs
Kuwait-based Burgan Bank will replace its legacy tech with the TCS Bancs integrated core banking system.
First Abu Dhabi Bank reportedly in discussions to acquire Yapi Kredi from Turkey’s Koc Group
Koc Group has held a stake in the Istanbul-based full-service bank since 2005.
Real estate investment management start-up Agora lands $34m Series B
Agora will use the funding to “accelerate its expansion efforts” and further develop its product offerings.
Saudi Arabian paytech Geidea names Abdulrahman Almutairi as new group CTO
Almutairi previously served as CTO at STC Pay for nearly five years.
ICYMI fintech funding round-up: Ekko, Layer, MNZL, Panax and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Emirates NBD taps Pine Labs to enhance merchant acquiring services
Emirates NBD will implement Pine Labs’ Credit+ solution.
New UAE-based open banking start-up Thimsa launches in beta
Thimsa will initially launch its payments platform in beta in the UAE and Bahrain.
New paytech Wink Pay launches in Lebanon in partnership with Visa and Codebase Technologies
Wink Pay offers an instant card issuance service for Visa prepaid virtual cards.
Nayax acquires Brazilian paytech VMtecnologia to propel LatAm expansion
The deal has a total potential consideration of up to $27 million based on certain conditions.
Al Etihad Payments partners Core42 to launch open finance across the UAE
The UAE central bank says it will be ready to offer open banking to “the majority of customers” this year.
BML Istisharat gains new core banking system clients in Saudi Arabia and Lebanon
Bank of Jordan, Corporate Private Investment and MedSecurities Investment implement the ICBS core banking platform.
Jordan Kuwait Bank digitises transaction banking functions with iGTB platform
The bank’s new digital capabilities are being powered by the open finance platform eMACH.ai.
Fortis Digital Solutions lands $20m Series A for push into MENA
The investment will be used to fuel Fortis’ planned expansion into the MENA region.
Digital asset neobank Keytom launches in the UAE
Keytom says it aims to help customers better manage their digital assets “in one convenient location”.
UAE’s GTN names former Saxo Bank exec Damian Bunce as new Middle East CEO
Bunce brings more than 30 years of experience in forex and online securities trading to his new role.
Hybrid digital challenger Ruya Bank readies for debut in UAE
The challenger’s offering combines both digital Islamic banking services and physical community centres.
SAMA greenlights beta launch of STC Bank
The approval by the Saudi Central Bank will see the company transition from STC Pay to STC Bank.
UAE’s Zand Bank taps Infosys Finacle to bolster its corporate banking capabilities
Zand’s CEO claims the move will enable “seamless deployment of digital assets, AI, and blockchain technologies.”
