Asia

September 28, 2016 @ 6:59 am By Erin Hobey  |  

Chennai, India-based online financial marketplace, BankBazaar announced the addition of $736K (SGD 1 Mn) growth capital into its Singapore arm, BankBazaar International, according to a release.  The funds will be used to scale technology, and strengthen the expansion strategies, as well as to establish its first financial marketplace in… Read More

September 27, 2016 @ 2:00 pm By Xu Gao  |  

  Baidu FSG launches mobile foreign exchange service Baidu FSG recently announced the launch of mobile foreign exchange service. Users of Baidu Wallet in Canada, Italy, Japan and Philippine could use this service to exchange small foreign change into targeted currency category. It is said… Read More

September 27, 2016 @ 8:38 am By Erin Hobey  |  

PINTEC Group, a leading Chinese fintech platform, today announced it will spinoff P2P lending platform Jimubox into an independent company, JIMU Group. Jimubox was a wholly-owned subsidiary of PINTEC Group, which holds a diversified group of financial technology businesses operating in the digital consumer lending… Read More

September 25, 2016 @ 10:26 pm By JD Alois  |  

Bank Indonesia (BI) recently announced 5 new initiatives regarding the payment system – a hot sector of financial services. Within these five strategic objects was Financial Technology or Fintech. Bank Indonesia, the central banking authority of the 4th most populous country in the world stated;… Read More

September 25, 2016 @ 3:18 pm By JD Alois  |  

Shanghai Daily is reporting that global consultancy EY has gotten sucked into the collapse of peer to peer lender Jinxing Investments. According to the report, the Shanghai offices of EY has endured several protests becoming surrounded by angry investors who were under the impression that… Read More

September 23, 2016 @ 11:03 am By JD Alois  |  

Lufax, one of China’s largest peer to peer lending platforms, is preparing for its long-awaited IPO. This is according to a report in Reuters that stated the IPO could raise $5 billion. At the last funding round, Lufax captured a valuation topping $18 billion.  China… Read More

September 22, 2016 @ 6:31 am By Erin Hobey  |  

Invest Hong Kong (InvestHK) announced that Hong Kong will play host to the first Hong Kong Fintech Week in early November, part of a new drive to position the city as the premier center in Asia for fintech companies and startups looking to grow their… Read More

September 22, 2016 @ 3:58 am By Erin Hobey  |  

Thailand decided to open a fintech regulatory sandbox, with the central bank set to invite firms to participate early next year, according to a release. The sandbox will enable developers working on lending, payment and money-transfer services and products to experiment for up to a year. An… Read More

September 21, 2016 @ 2:51 pm By Samantha Hurst  |  

On Tuesday, private investment company Marvelstone Group announced it developed a new fintech hub, called LATTICE80, and will be launching it in Singapore.The company stated that LATTICE80 will be located in the Central Business District (CBD), an area that is notably close to the key financial… Read More

September 21, 2016 @ 10:27 am By JD Alois  |  

Standard Chartered Bank and Supercharger, a Hong Kong-based accelerator, have opened up applications for global Fintech firms to participate in the  “SuperCharger FinTech Accelerator 2.0”, a 12-week innovation programme aimed at helping promising FinTech companies grow their footprint in Asia. The very first round saw 160… Read More

September 20, 2016 @ 5:03 am By Erin Hobey  |  

Singapore-based fintech startup Traderwave is delighted to announce their participation in the Cohort 3 of the MaGIC Accelerator Program. Claiming to be the largest start-up accelerator program in Southeast Asia, this four-month long program began in mid- August 2016, and is scheduled to end on 8 December 2016…. Read More

September 19, 2016 @ 12:03 pm By WeiyangX  |  

Fintech related cases would become an important area of civil and commercial trial in the future. On September 10, 2016, the sixth “Southern China Enterprise Law Innovation Forum” was held in Shenzhen. During the seminar of “China’s Law Innovation in Internet Age”, Yang Linping from… Read More

September 18, 2016 @ 8:36 pm By JD Alois  |  

China News is reporting that cooling private equity and venture capital deals are causing challenges for investors. Ni Zhengdong, head of Zero2IPO – a research group, stated; “Chinese venture capital and private equity investors made investments too quickly in the past three years and the… Read More

September 16, 2016 @ 8:42 am By Erin Hobey  |  

Crowdfund Insider has linked with the Hong Kong-based fintech accelerator SuperCharger as its media partner in time to cover round 2.0 of its accelerator program. SuperCharger’s strategic sponsors, including Standard Chartered Bank and Fidelity International, share the goal of instigating a more dynamic fintech market in Hong Kong. SuperCharger is… Read More

September 14, 2016 @ 9:57 am By JD Alois  |  

In multiple reports, Chinese authorities raided the offices of “two crippled peer to peer lending platforms”.  Both Jinlu Fund and Dangtian Wealth were visited by Shanghai police on suspicion of “illegally pooling deposits”, according to China News. Both platforms are affiliated with Shanghai Kuailu Investment… Read More

September 13, 2016 @ 11:20 pm By WeiyangX  |  

Qudian.com announced to exit from campus installment market in which it used to be the leader, and turned their focus on consumer finance. Qudian.com (previously named Qufenqi.com) announced this week that they would exit from the campus installment loan market, and made consumer finance for… Read More

September 13, 2016 @ 4:02 pm By Samantha Hurst  |  

WeLab, a Hong Kong-based fintech company, announced last week it has secured a credit facility of $25 million from ING Bank as part of its expansion and enable the company to meet rapidly growing demand for its loans in Hong Kong. Sharing details about the credit facility, WeLab… Read More

September 12, 2016 @ 9:23 am By JD Alois  |  

Singapore has a policy objective to become a global Fintech hub and today they are announcing another step in that direction. The Monetary Authority of Singapore (MAS) has joined with the Swiss Financial Market Supervisory Authority (FINMA) to sign an agreement to engender greater cooperation… Read More

September 11, 2016 @ 10:02 pm By JD Alois  |  

Celeno Communications, an Israel-based creator of wifi chips and other technology, has closed a $38 million funding round to fuel company expansion. The round was led by Red Dot Capital Partners – a sister entity of Singapore-based Temasek. Temasek is owned by the government of Singapore and maintains an… Read More

September 9, 2016 @ 4:07 pm By Samantha Hurst  |  

Earlier this week, chief executive of the Hong Kong Monetary Authority, Norman T.L. Chan, announced the organization is set to collaborate with the Applied Science and Technology Research Institute (ASTRI) to set up its own Fintech Innovative Hub. Chan revealed that the Fintech Innovation Hub… Read More