Asia

November 24, 2020 @ 11:25 am By Samantha Hurst  |  

  U.S. insurtech startup Hippo Insurance announced on Tuesday it scored $350 million investment and formed a partnership with Mitsui Sumitomo Insurance Company, Limited, a subsidiary of MS&AD Insurance Group Holdings, Inc. According to Hippo, the investment will support the insurtech’s product roll out in… Read More

November 24, 2020 @ 9:47 am By Samantha Hurst  |  

  China-based AI-powered platform for business IceKredit announced on Tuesday it secured $33 million through its Series C funding round, which was led by Guoxin Venture Investment with participation from Guohe Capital, Yunqi Partners, and China Creation Ventures. Founded in 2015, IceKredit describes itself as an… Read More

November 23, 2020 @ 11:33 pm By Omar Faridi  |  

Taiwan’s Joint Credit Information Center (JCIC) is reportedly planning to provide a database for local Fintech firms so that they can obtain relevant information on consumers’ credit risk profiles. Taiwan’s Financial Supervisory Commission (FSC) made this announcement after Fintech companies held a meeting in June… Read More

November 23, 2020 @ 9:48 pm By Omar Faridi  |  

The management at Alibaba Group Holding (NYSE:BABA) has stated that they are planning to comply with China’s updated Fintech regulations after the nation’s changing regulatory environment led to Ant Group‘s initial public offering (IPO) getting suspended. Daniel Zhang, Chairman of Alibaba Group, noted during a… Read More

November 23, 2020 @ 8:22 pm By JD Alois  |  

China Construction Bank Corporation (CCB) has suspended its digital bond issuance on the FUSANG exchange. The digital bond was originally scheduled to go live on the Exchange on Friday, 13 November 2020. FUSANG said that just before the listing time, written communication was received from the… Read More

November 23, 2020 @ 10:38 am By JD Alois  |  

The 3rd Singapore-China (Chongqing) Connectivity Initiative (CCI) Financial Summit anticipates greater financial connectivity between the two countries, according to a note issued by the Monetary Authority of Singapore (MAS). At the event opening the Minister for Manpower, Singapore, Josephine Teo was said to highlight that… Read More

November 22, 2020 @ 8:10 pm By Omar Faridi  |  

Indoensian President Joko “Jokowi” Widodo recently requested Fintech firms in the country to adopt good governance practices and become more accountable so that they can reduce the risks associated with rapid tech developments in the financial services sector. President Widodo noted during the recently-held Indonesia… Read More

November 22, 2020 @ 3:42 pm By Omar Faridi  |  

Most of the staff members at Kazakhstan-based Fintech firm Kaspi.kz (LSE:KSPI) have been working from their homes due to the COVID-19 outbreak. The company claims its business has been doing well despite the challenges created by the Coronavirus crisis. Kaspi provides payment systems and digital… Read More

November 22, 2020 @ 3:39 pm By Omar Faridi  |  

The Seoul Fintech Lab, which has been established by the Seoul Metropolitan Government in South Korea, aims to transform the city into one of the leading financial centers in the world. The Fintech Lab’s organizers may be working closely with companies in Luxembourg. There’s an… Read More

November 22, 2020 @ 3:03 pm By Omar Faridi  |  

Qualified or eligible Fintech firms interested in establishing operations at the Qatar Financial Centre (QFC) could save around $10,000 as the QFC gets ready to launch its “Tech Talk” series. Henk Jan Hoogendoorn, MD at the Financial Sector Office at the QFC, noted earlier this… Read More

November 22, 2020 @ 1:38 pm By Omar Faridi  |  

Western Union (NYSE: WU) has reportedly acquired a 15% stake in Saudi Arabia’s Telecom’s digital payment division. Western Union, which is notably the largest money transfer company in the world, has confirmed that it has purchased a $200 million (or 15%) stake in the online… Read More

November 22, 2020 @ 12:21 pm By Xu Gao  |  

Corporate SaaS Platform Gongsibao Secures Series B Financing led by NIO Capital and 5Y Capital On November 18th, corporate SaaS platform Gongsibao announced that it had received more than RMB 100 million in Series B financing led by NIO Capital and 5Y Capital (formerly known… Read More

November 21, 2020 @ 9:40 pm By Omar Faridi  |  

Nandan Nilekani, the Chairman at InfoSys, recently noted that French expertise could help with establishing an Aadhar-like system in order to make data more accessible to everyone. The Aadhaar system provides a 12-digit unique identity number that may be obtained voluntarily by India’s residents or… Read More

November 21, 2020 @ 8:36 pm By Omar Faridi  |  

Israel’s Bank Hapoalim and Abu Dhabi Global Market will be collaborating on various Fintech projects. Both organizations have agreed to support the digital transformation of financial services in the UAE and Israel. Abu Dhabi Global Market (ADGM), a major international financial centre located in the… Read More

November 21, 2020 @ 4:33 pm By Omar Faridi  |  

The United Arab Emirates (UAE) is reportedly leading the MENA region’s Fintech sector with a projected valuation of around $2.5 billion by 2022 (which is still not significant compared to international standards). Regional and multinational financial services providers have been launching digital platforms in order… Read More

November 21, 2020 @ 3:45 pm By Omar Faridi  |  

South Korea’s Financial Services Commission (FSC) has proposed several legislative updates that could potentially give it more control over payment settlements in the Fintech sector. The Bank of Korea (BOK), the nation’s central bank, has stated that these proposed guidelines would create redundant regulations. As… Read More

November 20, 2020 @ 10:18 am By JD Alois  |  

Crypto spot and derivative exchange OKEx reports that withdrawal services of all digital assets will be resumed on or before Nov. 27, 2020. Before reopening withdrawals, the OKEx team is conducting security checks in order to resume normal operations of the hot wallet system. OKEx… Read More

November 20, 2020 @ 9:40 am By JD Alois  |  

Prominent Fintech venture capital firm QED Investors has announced an expansion into Southeast Asia. It already invests in early-stage Fintechs in the U.S., U.K. and Latin America. Fintech in Asia has experienced a boom in early-stage ventures and while investments may ebb and rise it… Read More

November 19, 2020 @ 11:03 pm By Omar Faridi  |  

India-based banking group ICICI Bank has launched an all-digital mode of payment at major retail stores. Referred to as the “ICICI Bank Cardless EMI” (Equated Monthly Instalments), the facility allows thousands of the bank’s pre-approved customers to purchase their favorite gadgets or home appliances simply… Read More

November 19, 2020 @ 7:00 am By JD Alois  |  

Leading global online investing marketplace OurCrowd has received a $60 million investment from ORIX Corporation (NYSE:IX). Orix is a Japan based financial services firm that offers lending, investment, life insurance, banking, asset management, real estate, and more. ORIX operates globally with offices in 37 countries… Read More