Asia

December 8, 2016 @ 5:25 am By Erin Hobey  |  

According to the new report “The Rise of Fintech in China” by DBS and EY, China has outpaced London, New York and Silicon Valley to become the world’s undisputed global fintech leader. Neal Cross, DBS chief innovation officer, indicated that favorable government policies and regulations contributed… Read More

December 8, 2016 @ 5:07 am By Erin Hobey  |  

Mambu, the SaaS banking platform provider, announced the opening of its first office in the APAC region. Mambu’s APAC clients are spread across China and South East Asia as well as Australia and New Zealand, accounting for nearly a third of the company’s total business to date…. Read More

December 7, 2016 @ 10:53 am By Jessica Pham  |  

Economic migrants rely on remittances to ensure that their families are well off at home and to maintain ties to their home countries.  Fees imposed by big banks and traditional remittance institutions eat into foreign workers’ hard-earned incomes, however, so startups focused on money transfers… Read More

December 7, 2016 @ 9:17 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has signed a new collaboration agreement. This time the FCA has formed a co-operation agreement with the Hong Kong Monetary Authority (HKMA).  The arrangement is for the two securities regulators to collaborate on promoting financial innovation and is similar… Read More

December 4, 2016 @ 8:35 am By Jessica Pham  |  

In a follow-up to the Ezubao (Ezubo) shutdown, five people affiliated with the Chinese P2P lending platform that is accused of a Ponzi scheme are on trial for gold smuggling.  This is the first court case that is a part of a scandal that robbed investors of between… Read More

December 2, 2016 @ 10:11 am By Samantha Hurst  |  

Chinese peer-to-peer lending platform, Dianrong, announced on Friday it is officially joining blockchain alliance, the Hyperledger Project. The portal claimed to be the first peer-to-peer company among the project’s 22 Chinese members. The Hyperledge Project, which was established by the Linux Foundation at the end… Read More

December 2, 2016 @ 6:55 am By Jessica Pham  |  

Timelio is a Melbourne-based fintech startup looking to disrupt traditional lending models by allowing businesses to turn invoices into cash by selling their invoices online on a P2P marketplace.  It raised $5 million via an equity funding round last month.  The investment is backed by the Thorney… Read More

December 1, 2016 @ 9:33 am By Erin Hobey  |  

Societe Generale today announced a new agreement with Smartkarma, an informational online investment platform which focuses on the Asian markets. Under this global agreement, Societe Generale will provide its institutional clients access to a new form of equity research based on demand driven and customised… Read More

November 30, 2016 @ 2:47 pm By Xu Gao  |  

China’s Leading Auto Financing Companies Set-up Self-Regulating Organization in Shenzhen. On the 23rd November, auto financing self-regulatory regulatory group “Che Dai Quan” (literally meaning auto financing group) was set up in Shenzhen. A number of leading auto financing companies joined this organization, including; RRJC, touna,… Read More

November 30, 2016 @ 8:17 am By JD Alois  |  

Jacqueline Loh, Deputy Managing Director of the Monetary Authority of Singapore, delivered a wide-ranging speech today at the 2nd Shanghai-Singapore Financial Forum in Shanghai. Lo acknowledged the opportunities that exist between China and Singapore noting that China may become 1/3 of the world’s economy by… Read More

November 28, 2016 @ 9:53 pm By JD Alois  |  

Singapore-based FundedHere is listing S$2 million worth short term crowdfunded bonds (ListCo Bonds) for Metech International (SGX:QG1 – MeTech).  This past July, FundedHere announced its intent to help SGX listed companies sell bonds to raise capital. MeTech is now the first company to leverage this funding… Read More

November 28, 2016 @ 9:48 am By JD Alois  |  

Singapore based SmartFunding has received S$700,000 (about USD$ 500,000) in seed funding. The round was led by Fintech Asia Group, part of listed venture firm Fatfish Internet Group (ASX: FFG). The “peer to business” platform was set up to bridge the financing gap for SMEs to… Read More

November 28, 2016 @ 7:43 am By JD Alois  |  

OurCrowd, a global leader in investment crowdfunding, has announced the official opening of its office in Singapore. The new office will help OurCrowd expand its operations across Asia by connecting Asian investors will promising early stage companies from around the world. OurCrowd also announced the… Read More

November 27, 2016 @ 7:08 pm By JD Alois  |  

Coinciding with the inaugural Singapore Fintech Festival, BNY Mellon opened its 8th “innovation center” in recognition of the growing dominance of Singapore in the Fintech race. The opening was announced earlier this month when Stephen Lackey, Chairman of Asia Pacific for BNY Mellon, explained; “The opening… Read More

November 25, 2016 @ 9:11 am By Jessica Pham  |  

Phunware, a U.S. tech startup based in Austin, Texas, raised $22 M earlier this month from Khazanah Nasional Berhad, the strategic investment fund of the Government of Malaysia. Khazanah is not a stranger to investing in companies beyond the Malaysian borders; it has also invested in companies… Read More

November 24, 2016 @ 11:00 am By Jessica Pham  |  

Alternative finance startup OpenTap is aiming to disrupt an environment where many creditworthy borrowers do not have access to short-term personal loans from the traditional financial services sector.  Founded in 2015, OpenTap is based in Chennai, India and seeks to grant access to short-term credit for… Read More

November 24, 2016 @ 10:00 am By Jessica Pham  |  

Bank Indonesia (BI) in Jakarta announced last week the opening of its Fintech office, which will aim to evaluate existing and conduct research on new fintech models, products, and services.  The office not only allows the central bank to maintain its risk management and consumer protection… Read More

November 23, 2016 @ 7:58 am By Xu Gao  |  

JD Finance Has Been Carved Out of JD.COM On November 15th, JD.COM announced it would transfer/sell all the shares it held in JD Finance. In other words, JD.COM will no longer be the legitimate owner of JD Finance. This corporate reorganization was said to make… Read More

November 22, 2016 @ 10:28 pm By Jessica Pham  |  

PwC launched earlier this month a new Fintech tool called the Vulcan Digital Asset Services, which digitizes everyday banking, commerce, and personal currency and asset related services.  Currently, specific services available include digital asset wallets, international payment processing, and investment and trading services.  In the near… Read More

November 21, 2016 @ 8:46 pm By JD Alois  |  

The UK had solid representation in Singapore last week for the inaugural Fintech Festival. The UK Economic Secretary Simon Kirby was in Singapore attending the event, helping to promote the globalization of Fintech – an admirable pursuit. This past spring, A This past spring, a Fintech… Read More