Asia

February 15, 2017 @ 3:10 am By Jessica Pham  |  

The central bank in the Philippines laid down regulations last week for virtual currencies, including bitcoin. Bangko Sentral ng Pilipinas (BSP) was prompted by the surge in the number of money transfers across borders.  More specifically, the financial body is looking to mitigate risks, such as… Read More

February 14, 2017 @ 11:42 am By Samantha Hurst  |  

Standard Chartered announced last week it has launched its Open Banking Application Programming Interface (API) Developer Portal. The company stated that the launch of the portal will enable the Bank to further its digitization agenda and increase collaboration with a wide spectrum of partners including corporates,… Read More

February 14, 2017 @ 8:23 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has announced regulatory changes to boost the resilience of finance companies and enhance their ability to provide financing to small and medium-sized enterprises (SMEs). The financial regulator said that some finance companies fill an important niche in providing access… Read More

February 14, 2017 @ 6:44 am By Erin Hobey  |  

In the news again, Abu Dhabi Global Market (ADGM), the international financial centre in Abu Dhabi, is pleased to be a member partner of the industry working group, the Market Infrastructure Group, established by the London-based fintech company, EquiChain. The Group, comprising global industry & financial leaders,… Read More

February 14, 2017 @ 6:08 am By Erin Hobey  |  

Singapore-based fintech startup Bambu was the winner of the Best Early Stage Startup Award at Fintech Finals 2017 in Hong Kong last month. Other highlights from the Fintech Finals 2017 included Ayannah winning the overall title, Best in Show, while DarcMatter won for Best Growth… Read More

February 14, 2017 @ 5:42 am By Erin Hobey  |  

Grameen Koota, a pioneer in rural lending, is expanding its product portfolio and venturing into individual lending for its rural customer base by partnering with fintech firm Artoo. Grameen Koota plans to develop a digital lending model to launch individual business loans utilizing Artoo’s intelligent digital platform… Read More

February 13, 2017 @ 10:33 pm By JD Alois  |  

Platforms controlled by Beijing Qiyuan Fortune Network Technology Co. are in a tight spot as an executive is accused of mismanagement and has reportedly disappeared. According to a report in China News, the following peer to peer lending platforms; cmtouzi.com, naipinglicai.com, zaodianlicai.com, wanerjialicai.com, qianguan360.com, lexinglicai.com, xjinfu.com… Read More

February 13, 2017 @ 2:46 pm By Samantha Hurst  |  

Money360 announced on Monday its commercial real estate fund affiliate, M360 Advisors, successfully registered with the South Korea Financial Supervisory Service (FSS). According to the marketplace lending platform, the FSS registration allows South Korean hedge funds, corporations, pension funds, insurance companies, and other institutional investors to participate… Read More

February 13, 2017 @ 2:20 pm By Samantha Hurst  |  

Hong Kong’s peer-to-peer lending platform Monexo announced on Monday it now has an undisclosed strategic partner. Founder and CEO of the online lender, Mukesh Bubna, reportedly stated that the new partner may be a domestic private equity fund. Bubna shared: “In 2017, our aspiration is… Read More

February 11, 2017 @ 9:35 pm By Jessica Pham  |  

While the Western world and other parts of Asia surge forward with fintech innovations, from blockchain technology to digital banking features and services, Myanmar celebrates other banking development wins as the country continues to modernize. Earlier this week, Enterprise Innovation reported that Myanmar — formerly known… Read More

February 10, 2017 @ 2:57 am By JD Alois  |  

Singapore’s Committee on Future Economy (CFE) has identified seven strategies for Singapore’s next stage of growth in its report. Singapore has experienced an enviable period of economic growth and prosperity. The island city-state tmaintains one of the highest standards of living in the world. The… Read More

February 9, 2017 @ 1:55 pm By JD Alois  |  

Ant Financial, part of Alibaba’s growing internet conglomerate, just announced the acquisition of MoneyGram (NASDAQ: MGI) – a Dallas-based money transfer service – for $880 million. Now Ant Financial is apparently raising $3 billion to help fuel its global expansion. First reported in the Information, Ant… Read More

February 9, 2017 @ 6:17 am By Erin Hobey  |  

Indian personal finance management apphttp://www.getwalnut.com Walnut has partnered with TechProcess Payment Services Ltd. (TPSL) to allow app users to freely transfer money across banks and cards. “Post demonetisation, number of digital payment transactions has risen up sharply in India,” commenting  Walnut CEO Amit Bhor. “We’re seeing a huge… Read More

February 9, 2017 @ 6:06 am By Erin Hobey  |  

Mobile payments and digital wallet firm MobiKwik is reportedly  in talks to raise funding that would give the startup a $1 billion valuation, forging new ties with banks and offering new financial services on its growing platform, according to multiple news sources. Potential investor parties and sought funding… Read More

February 9, 2017 @ 2:00 am By Jessica Pham  |  

The Singapore FinTech Association (SFA) has signed MOUs with five polytechnics in efforts to grow and nurture talent in the industry, as well as to improve coordination between educators and fintech industry leaders.  The five entities are Nanyang Polytechnic, Ngee Ann Polytechnic, Republic Polytechnic, Singapore… Read More

February 8, 2017 @ 11:26 pm By Jessica Pham  |  

John Tsang, a former Financial Secretary of Hong Kong who has had a long government career, declared last month that he is running for Chief Executive of Hong Kong.  His crowdfunding campaign launched five days ago on FringeBacker, and he has raised thus far HK$4,519,604 (approximately $583,000)… Read More

February 7, 2017 @ 6:35 am By Erin Hobey  |  

Lending startup SlicePay has bought Delhi-based P2P lending platform Trustio in an all equity deal which the former hopes will strengthen its team, product portfolio and infrastructure. Trustio, launched last year, enables alumni of a select number of colleges access to short-term credit sourced from their… Read More

February 7, 2017 @ 4:00 am By Jessica Pham  |  

Singapore-based company Grab, self-described as “Southeast Asia’s Leading Ride-Hailing Platform”, is investing $700 million in Indonesia to make the country ASEAN’s most digital economy.  Grab’s project will focus on mobile fintech features in the country, and in particular, on mobile payment. According to the company, the… Read More

February 6, 2017 @ 11:56 pm By Jessica Pham  |  

Bhume Bhumiratana works on blockchain in Thailand and in an interview with the Bangkok Post, he said that the country is poised to see the technology take over banking and financial services in the near future. “The adoption of blockchain technology is expected to be widely… Read More

February 6, 2017 @ 11:02 pm By JD Alois  |  

A report in China News says there was a “surge in problematic peer to peer online lending” during 2015 and 2016. Referencing financial news portal Finance.ifeng.com, the report said there were 478,000 cases at the end of January of individual investors filing complaints against problematic… Read More