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:

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:

The Interdepartmental Commission for the Development of the Digital Economy has been created in Turkmenistan and tasked with developing and implementing a strategy for digital economic development through 2025.

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.