Asia

November 10, 2016 @ 10:51 am By Samantha Hurst  |  

Peer-to-peer lender, China Rapid Finance, announced on Wednesday its platform has exceeded one million borrowers and it facilitated 8.8 million loans in total as of October 31st. Sharing details about the new milestone, Dr. Zane Wang, CEO of China Rapid Finance, stated: “Serving more than one million borrowers is… Read More

November 10, 2016 @ 9:29 am By Erin Hobey  |  

A group of fintech companies demonstrated their products and services during the third annual FinTech Innovation Lab Asia-Pacific Investor Day. Launched by Accenture (NYSE:ACN) in June 2014, the FinTech Innovation Lab is a 12-week mentoring program to enhance fintech innovation and drive high-tech job growth in Asia-Pacific… Read More

November 9, 2016 @ 8:07 am By Xu Gao  |  

Bank of China and HSBC launched blockchain-based housing-mortgage service in Hong Kong It has been reported that Bank of China and HSBC will launch a blockchain-based housing mortgage service in Hong Kong. The new technology will certify and share the real-estate valuation information in seconds,… Read More

November 8, 2016 @ 4:56 pm By Samantha Hurst  |  

On Tuesday, financial innovation firm R3 announced it is teaming up with the Monetary Authority of Singapore (MAS) to launch its dedicated distributed ledge technology (DLT) Center of Excellence in Asia. This is part of the company’s region expansion plans. The new R3 Asia Lab… Read More

November 7, 2016 @ 10:02 pm By Jessica Pham  |  

BondIT  has received a strategic investment from China based Wind Information. According to BondIT, the two companies have partnered to bring artificial intelligence and machine learning techniques to wealth management. Specific terms of the deal were not revealed. The two companies intend to start in mature… Read More

November 7, 2016 @ 1:39 pm By JD Alois  |  

SuperCharger Fintech Accelerator 2.0 has kicked off Hong Kong Fintech Week with the announcement of 8 finalists for their program. For a second year in a row, SuperCharger, which aims to help the most promising Fintech start-ups and scale-ups grow in Asia, states it has surpassed… Read More

November 7, 2016 @ 7:53 am By JD Alois  |  

First P2B Online Lending Platform Approved by Regulators in Singapore & Malaysia Funding Societies, a peer-to-business online lender, has received an “in-principle approval” of a Capital Markets Services (CMS) license in Singapore, and has been selected as one of the six registered operators in Malaysia… Read More

November 6, 2016 @ 3:59 pm By Jessica Pham  |  

According to the Association of Chartered Certified Accountants (ACCA), Singapore is not far from surpassing London to claim the title of top fintech hub of the world.  The ACCA’s September report noted that the world should “keep an eye on Asia” as red tape and Brexit weigh on… Read More

November 6, 2016 @ 2:06 pm By JD Alois  |  

Eureeca has become the first equity crowdfunding platform to be officially licensed by the Dubai Financial Services Authority (DFSA).  Eureeca is a multi-regulated platform, having already received regulatory approval from from the Financial Conduct Authority in the UK and the Securities Commission Malaysia in 2015…. Read More

November 5, 2016 @ 3:50 pm By Jessica Pham  |  

The Australian Competition and Consumer Commission (ACCC), an independent arm of the Australian government that aims to regulate competition in the market and uphold national consumer law, has been closely eyeing four big banks to prevent attempts of monopolizing the blockchain industry in fintech. The banks… Read More

November 4, 2016 @ 2:44 pm By Samantha Hurst  |  

The Korea Fintech Center has signed a memorandum of understanding (MOUs) with two Silicon Valley organizations, 500 Startups and Silicon Valley Forum.  500 Startups is described as a global venture capital company and startup accelerator. It has supported 1,700 startups in over 50 countries. Silicon Valley… Read More

November 4, 2016 @ 12:05 pm By Samantha Hurst  |  

Chinese online insurer, ZhongAn Online Property & Casualty Insurance Co., Ltd. (ZhongAn) announced on Friday the launch of its new fintech incubator, ZhongAn Information and Technology Services Co., Ltd. (ZhongAn Technology). According to the insurer, the new brand will explore technology innovation for ZhongAn along with… Read More

November 4, 2016 @ 9:30 am By Jessica Pham  |  

The Government of Singapore is inviting startups, tech companies, investors, and banks to its inaugural Singapore FinTech Festival between November 14-18. Events will include a Hackcelerator Demo Day, the FinTech Awards, and a speakers expo. Finalists competing in the FinTech Awards had been busy implementing… Read More

November 4, 2016 @ 7:58 am By JD Alois  |  

Privately held investment firm Senjo Group has relocated its corporate headquarters to Singapore in recognition of Singapore’s growing influence in the Fintech sector. Representatives said the business-friendly environment and focus on financial innovation was key in their decision to lease the entire 56th floor of… Read More

November 3, 2016 @ 11:14 pm By JD Alois  |  

The Financial Services Commission (FSC) of Korea has clamped down on peer to peer lending.  According to a report in Korea Joongang Daily, the Commission has enacted harsh rules that limit the amount an investor may commit to peer to peer lender in a given… Read More

November 3, 2016 @ 10:19 pm By JD Alois  |  

Fundnel, a funding ecoystem based in Singpore, has received a provisional Capital Markets Services (CMS) licence from the Monetary Authority of Singapore (MAS). Fundnel said this was the first issued by MAS for any private investing platform.  Receipt of the licence allows Fundnel to market… Read More

November 3, 2016 @ 11:23 am By Erin Hobey  |  

More than half of all banking customers have turned to fintech startups to cater for their financial needs, according to a global survey by Capgemini. But despite the considerable momentum enjoyed by niche providers, overall trust remains a key barrier to more widespread adoption. The World… Read More

November 3, 2016 @ 8:12 am By JD Alois  |  

Malaysia’s EthisKapital has claimed the world’s first licensed Islamic P2P/Crowdfunding platform. The Securities Commission Malaysia awarded six peer to peer licenses, one of which is the world’s first license for Shari’ah-compliant P2P finance. EthisKapital will be focused on funding small businesses and real estate development projects…. Read More

November 3, 2016 @ 7:48 am By JD Alois  |  

FundedByMe Malaysia has been awarded one of six licenses to operate as a “peer to peer” finance platform in Malaysia.  The announcement came during the Securities Commission Malaysia (SC) conference: SCxSC. Berhormat Datuk Johari Abdul Ghani, the Second Finance Minister of Malaysia, made the announcement… Read More

November 2, 2016 @ 11:28 am By Xu Gao  |  

In Response to Lending Cap Regulations, More & More Chinese P2P Platforms Start to Transfer to Financial Asset Exchanges In August, the China Banking Regulatory Commission (CBRC) issued rules for the online lending industry and set lending caps for both individual and business peer to… Read More