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BFC FinTech Monitor 3rd January – 12th February

Stay up-to-date on all the all the latest FinTech news and information from around the world in the BFC FinTech Monitor.

 

Around the World:

  • American FinTech startup Remitly has launched a neobank for immigrants, allowing them to transfer funds to their homelands without documents establishing residency in the United States.
  • Cryptocurrency platform Ripple is planning cooperation with the payment system International Money Express (Intermex) to enable Intermex to access an on-demand liquidity solution for international transactions.
  • Visa and MasterCard are investing billions of USD in FinTech startups.
  • A Bilderlings senior client manager recently spoke about correspondent relationships for those planning to launch a FinTech startup in Europe.
  • The robo-advisor industry is expected to reach a value of USD 1.4 trillion this year.
  • The United States, in cooperation with former employees of the Commodity Futures Trading Commission, are planning the release of a digital dollar.
  • The most expensive FinTech startup in Europe, Klarna, raised USD 200 million in funding from Australia’s largest financial conglomerate, the Commonwealth Bank of Australia.

 

Russia:

  • Former Tinkoff top managers are working on a rival to Revolut that will provide non-credit financial products and services to European consumers.
  • Russia’s largest banks and mobile operators have found a solution to counter scammers’ phone fraud attempts.
  • By 2035, 96% of all transactions related to payments and transfers will be carried out using modern technological solutions.
  • A recent study conducted by the Mail.ru Group and Researchme uncovered which banking products are the most preferred by Runet users.
  • The head of Sberbank’s Data Research Center discusses investments and future directions in the field of artificial intelligence.

 

Ukraine:

  • O.Bank, a new online-only bank, has launched in Ukraine.
  • Kiev will host a conference FinAdTech Kyiv 2020 for leading webmasters and advertisers in the field of financial lead generation and FinTech solutions.

 

Belarus:

  • Google Pay is tentatively planning a limited launch in Belarus this year.
  • dev.by has completed a review of the main FinTech events of 2019.

 

Kazakhstan:

  • The news agency Kapital.kz has discovered the reasons why FinTech solutions are lacking in Kazakhstan.
  • The new Lokibot virus is capable of accessing the online banking data of Kazakhstanis.

 

Uzbekistan:

  • Cryptocurrency payments have been banned in Uzbekistan.
  • Kapitalbank has introduced the Apelsin application, a direct competitor to Payme, Click and other similar services.
  • The publication Spot reveals the best places to invest your money.

 

Turkmenistan:

 

Azerbaijan:

  • Residents of Azerbaijan will be able to pay for goods and services using the service PayRing.

 

Georgia:

  • The National Bank of Georgia has adopted new requirements for commercial banks, microfinance institutions and other credit organizations.
  • Bank of Georgia customers will soon be able to withdraw cash from ATMs via an Apple Wallet-connected smartphone.
  • Georgian startup Optio.Ai has developed an artificial intelligence-based solution that will allow Basisbank customers to communication with the bank via a dialogue interface as well as manage their finances via special widgets.
  • Georgia has become the world leader contactless payments, with more than 95% of transactions made via NFC devices.

 

Armenia:

  • Converse Bank has launched a platform for attracting bank deposits from foreigners online.
  • IDBank has opened the innovative Financial Services Center in Yerevan and also launched an innovative service for international transfers.
  • Ameriabank announces that more than 12,000 consumer loans have been issued using its new online lending system.
  • Armenian Prime Minister Nikol Pashinyan confirms the country’s dedication to continually reducing cash turnover.

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