Standard Chartered Bank and SAP Ariba today announced a strategic collaboration to make the Bank’s financial supply chain solutions easily accessible to businesses in the Asia Pacific region through Ariba Network, the world’s largest digital business network connecting more than 4.2 million companies in 190 countries.
News via Finextra
Revolut has also announced a partnership with small business cloud accounting company Xero, enabling joint customers to integrate expense data between the two platforms for seamless reconciliation in the UK.
News via Pymnts.
An increasing number of fintech startups are looking to fund small businesses in South Africa using online platforms and apps to service the massive demand for such finance. Know five of them in this article.
News via Venture Burn.
"If you want to see the future of fintech, just go to China," said Edith Yeung, managing partner of Proof of Capital, a blockchain-focused investment firm at a breakfast roundtable Fortune hosted at its inaugural Brainstorm Finance conference earlier this year.
She cited Alibaba-spinoff Ant Financial and Tencent's WeChat as paragons of digital banking and payments.
Raiffeisen Bank International has joined a funding round in business verification and KYC RegTech kompany. RBI is investing in kompany via its corporate venture capital unit Elevator Ventures.
Kompany was one of the first participants in Elevator Lab;s fintech partnership programme. The programme helps scale-ups collaborate with leading bank experts across RBI Group and resulted in a multi-year commercial agreement for kompany in 2018.
With the purchase of the Denmark-based payments platform, Mastercard is picking up an electronic billing platform that offers clearing and instant payment services, according to a statement on August 6. Mastercard also confirmed that the purchase will take a bite out of its profits for up to two years after the deal closes, which is expected to happen sometime in the first half of 2020.
Taiwan’s Financial Supervisory Commission is said to have issued it virtual banking licences to three consortiums, according to a report by Reuters. The licenses were granted to Line Financial Taiwan, Next Commercial Banking (led by local telco Chunghwa Telecom) and Rakuten International Commercial Bank.
Finovate brings together the Asia's fintech community to feature demos of new fintech solutions, key insights from thought-leaders and influencers, and networking that delivers meaningful connections with fintech decision-makers.
SME Finance Forum members are entitled to receive a discount on registration. Please, contact us for more information.
The expansion of the partnership between Mastercard and Zoho will benefit smes. According to Mastercard, small businesses around the world will have access to a comprehensive array of products and services. The goal of this initiative is to enable simpler business operations for SMBs globally. When fully integrated, businesses can run their company with greater ease, efficiency, and profitability.
