Asia

September 17, 2020 @ 2:24 pm By Samantha Hurst  |  

WireBarley, a South Korean fintech focused on global remittance services, announced on Thursday it secured $10 million through its Series B funding round from  Magna Investment, Shinsegae I&C, and Dt & Investment. WireBarley describes itself as a money transfer startup that provides fully contactless financial… Read More

September 17, 2020 @ 8:19 am By Omar Faridi  |  

Ping An Bank recently became the first Chinese financial institution to be named the world’s “best” digital bank at the Euromoney Awards. As mentioned in a release, Ping An Bank, which is a subsidiary of the Ping An Insurance Company of China, was named the… Read More

September 15, 2020 @ 10:54 pm By Omar Faridi  |  

AMTD recently revealed that it has invested in several Fintech firms, as a part of its Singapore Solidarity Fund, under the purview of the ASEAN Solidarity Fund Group. AMTD has reportedly invested in the operations of Active.ai, Cardup, Funding Societies, PolicyPal, and Transwap. AMTD maintains… Read More

September 15, 2020 @ 9:57 pm By Omar Faridi  |  

The team at DAPI, the first financial API in the MENA region that allows financial technology apps to leverage Open Banking by facilitating digital payments and accessing real-time banking data, have written an open letter to the UAE Bank Federation Advisory Council. The letter, which… Read More

September 15, 2020 @ 9:04 pm By Omar Faridi  |  

India’s 5paisa, a publicly-listed Fintech company, has introduced the option to acquire international stocks. Prakarsh Gagdani, CEO at 5paisa, confirms that the new service allows its customers to invest in shares listed on Indian stock exchanges and it also allows them to acquire US stocks…. Read More

September 15, 2020 @ 12:39 am By Omar Faridi  |  

The Reserve Bank of India (RBI) is reportedly planning to use the Nandan Nilekani (Infosys co-founder) formula in order to measure the effectiveness of digital payments. Indian prime minister Narendra Modi’s administration has introduced the Digital India initiative which aims to determine the extent of… Read More

September 14, 2020 @ 11:37 pm By Omar Faridi  |  

Groww, an investment app that aims to focus on providing services to Indian millennials, has reportedly secured $21.4 million in capital through a Series B funding round – which was led by US-based VC firm Ribbit Capital. Existing investors Sequoia India and Y Combinator also… Read More

September 14, 2020 @ 10:43 pm By Omar Faridi  |  

Easypaisa, a leading digital wallet provider in Pakistan, has partnered with Fintech firm PayFast, in order to accelerate the adoption of digital payments in the country. Through the partnership, Easypaisa digital wallet users will be able to make online payments using PayFast’s local payment gateway…. Read More

September 14, 2020 @ 10:29 pm By Omar Faridi  |  

Malaysia-based Fintech Valyou, a digital remittance payments service provider, has introduced a blockchain-enabled remittance solution in Bangladesh through a partnership with Standard Chartered and bKash, a mobile financial service provider. The distributed ledger tech (DLT)-powered platform will enable instant money transfers from Malaysia to Bangladesh…. Read More

September 14, 2020 @ 9:11 pm By Omar Faridi  |  

Razer Fintech has teamed up with Franklin Templeton in order to develop various digital wealth technology or Wealthtech tools for younger consumers. Franklin Templeton’s Singapore based subsidiary, Templeton Asset Management, and Razer Fintech, the financial division of Razer Inc, have committed to a Memorandum of… Read More

September 14, 2020 @ 8:57 pm By Omar Faridi  |  

Onfido, a global ID verification provider, will be offering its user authentication services to Malaysia’s MyCash Money. Onfido has also been providing similar services to other Fintech firms in the region, including BigPay and MoneyMatch. MyCash Money is a digital marketplace that’s focused on serving… Read More

September 14, 2020 @ 10:36 am By Omar Faridi  |  

Dubai’s Buy Now Pay Later (BNPL) Fintech firm Spotii has officially launched on Microsoft AppSource, which is an app store and online marketplace for companies using various Microsoft products. Spotii’s digital platform allows fashion, beauty, and lifestyle retail outlets to provide more flexible payment plans… Read More

September 14, 2020 @ 7:55 am By Omar Faridi  |  

Red Date Technology and Digital Asset (the company) have reportedly entered an agreement that involves integrating DAML smart contract tech with China’s Blockchain Services Network (BSN). DAML, which is a blockchain “agnostic” smart contract programming language created by the company Digital Asset, will serve as… Read More

September 13, 2020 @ 9:55 pm By Omar Faridi  |  

The Abu Dhabi Global Market (ADGM) has received applications from MENA region companies that are interested in launching digital banking platforms. Richard Teng, who works at the emirate’s international financial free zone as the head of its Financial Services Regulatory Authority, revealed that his organization… Read More

September 13, 2020 @ 9:47 pm By Omar Faridi  |  

The Dubai International Financial Centre (DIFC), which serves as an global financial hub in the MENA and South Asia region, has signed a Memorandum of Understanding (MoU) with the Dubai Future Foundation (DFF). Both organizations have agreed to focus on supporting innovative Fintech projects in… Read More

September 12, 2020 @ 5:00 pm By Xu Gao  |  

CBIRC: Increasing Efforts to Crack Down on New Types of Illegal Commercial Insurance Activities Recently, the Anti-Illegal Financial Activities Bureau of China Banking and Insurance Regulatory Commission (CBIRC) published an article entitled “Analysis of Illegal Commercial Insurance Activities and Regulatory Suggestions” in “Observation of Insurance… Read More

September 12, 2020 @ 4:40 pm By Omar Faridi  |  

A Chartered Fintech Professional (CFtP) qualification will reportedly be offered to financial technology specialists working in China and Singapore. The program will aim to provide  professional development opportunities that are meant to support international Fintech talent. The qualification will reportedly be introduced by the Global… Read More

September 12, 2020 @ 11:24 am By Omar Faridi  |  

Temasek Holdings, a major Singapore state investor, is reportedly looking into making a potential investment in the planned initial public offering (IPO) of Chinese Fintech giant Ant Group, which might be the world’s largest iPO. GIC Pte Ltd, which is Singapore’s sovereign wealth fund (one… Read More

September 11, 2020 @ 4:47 pm By JD Alois  |  

Wirecard (WDI:DE) and bankruptcy proceedings are inching forward for a Fintech that was once valued in the billions of dollars. Meanwhile, anti-money laundering authorities in the Philippines have uncovered 57 individuals of interest affiliated with the firm, according to a report. Bloomberg states that the Executive… Read More

September 11, 2020 @ 10:43 am By Omar Faridi  |  

The MENA region’s digital payments sector is projected to grow by 6.5% from 2020 to 2021. The Coronavirus crisis may have accelerated the shift towards the adoption of all-digital platforms and services, including virtual payments. The MENA region’s Fintech industry participants recently noted that the… Read More