Asia

August 30, 2016 @ 9:56 am By JD Alois  |  

South Korea is claiming a “world’s first” in launching the Fintech Open Platform designed to boost Fintech development in Korea, according to the Financial Services Commission (FSC). The Fintech Open Platform is described as a combination of a website where Fintech firms can download program… Read More

August 29, 2016 @ 12:14 pm By JD Alois  |  

Tharman Shanmugaratnam, Deputy Prime Minister and Minister in charge of MAS, was questioned earlier this month on the policy measures incorporated by the Monetary Authority of Singapore (MAS), in regards to investment crowdfunding. The query came from Ms. Foo Mee Har, an MP from the West… Read More

August 29, 2016 @ 10:46 am By JD Alois  |  

China is the largest alternative finance market in the world and Fincera (OTCQB: AUTCF) is a fast growing internet finance platform that is providing an increasing portfolio of services online.  But Fincera started in an entirely different business sector: commercial auto-leasing under the name of… Read More

August 27, 2016 @ 11:52 am By JD Alois  |  

The several law firms have filed class-action lawsuits on behalf of shareholders of Yirendai (NYSE:YRD) who acquired shares at some point during 2016 – some of the filings are specifying date ranges. The reason this is interesting is that these law firms are faulting Yirendai… Read More

August 25, 2016 @ 11:50 am By Erin Hobey  |  

Indian SME lender Lendingkart announced new hires plucked from Amazon and PayU India, reported Pymnts.com. Vishal Chopra, a former Amazon India exec, will join Lendingkart’s team as CRO, while Nihit Nirmal, formerly of PayU India, will join as SVP of products. “Lendingkart Group NBFC has emerged as… Read More

August 25, 2016 @ 10:05 am By JD Alois  |  

Announced earlier this week, China has finally revealed its regulatory approach to online lending. To put this into perspective, peer to peer lending is huge in China – the largest online lending market in the world. The rapid ascension of P2P lending was driven by… Read More

August 25, 2016 @ 9:21 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has published a consultation paper on a payments regulatory approach. Simultaneously MAS has created a “National Payments Council” to help foster digital payments and the ascension of Fintech. Noting that presently there are multiple regulatory environments and legislation action,… Read More

August 24, 2016 @ 10:01 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has opened its Fintech Innovation Lab which has been given the name Looking Glass @MAS.  The reference to the Looking Glass is a nod to Lewis Caroll’s classic novel “Through the Looking Glass and What Alice Found in There”…. Read More

August 24, 2016 @ 8:06 am By JD Alois  |  

A report in ChinaNews is saying The China Banking Regulatory Commission (CBRC), along with partner agencies, will release rules regarding online lending that will include lending caps. According to the report, individuals will be able to borrow up to 200,000 CNY (USD $30,000) from any… Read More

August 23, 2016 @ 12:05 pm By Erin Hobey  |  

Bank of Japan Governor Haruhiko Kuroda said the central bank may finally apply fintech to its future operations  given its growing influence on global payments, settlements and financial services, reported Reuters. Signaling that the BOJ is ready to initiate research to promote Japanese fintech given it has “various… Read More

August 23, 2016 @ 10:37 am By JD Alois  |  

Last week S. Iswaran, Minister for Trade & Industry, made the statement; “FinTech is … a critical differentiator for Singapore to remain a leading financial hub in the region. Our finance and insurance sector has been a key growth contributor in recent years, and the… Read More

August 22, 2016 @ 9:46 am By JD Alois  |  

Singapore-based Robo-advisor Bambu has received USD $400,000 in seed funding. Tigerspike and angel investors from Singapore funded the round. The funding will be used to boost the Bambu team and to build out the product and expand into other regional markets. Bambu is an advisor that offers… Read More

August 21, 2016 @ 10:19 pm By JD Alois  |  

The Turnbull government announced in February of this year their intent to establish Australia as an Asia-Pacific hub for Fintech. The Hon. Scott Morrison MP said at that time; “FinTech will have an important role to play in Australia’s innovation future, that’s why the Turnbull Government… Read More

August 19, 2016 @ 11:15 am By Erin Hobey  |  

Rakuten, Inc. announced the opening of the Rakuten Blockchain Lab (R.B.L.) in Belfast, Northern Ireland, UK, planned for August 22, 2016 on its website and blog. R.B.L. will be a dedicated research and development organization within Rakuten, focused on blockchain technology and its potential applications in… Read More

August 19, 2016 @ 10:52 am By Erin Hobey  |  

Financial regulation alterations are underway in order to ensure that electronic payments can be facilitated in Singapore making good on the city-state’s promise that this region is dedicated to becoming a fintech center, according to a release. The Monetary Authority of Singapore (MAS) intends to streamline existing its… Read More

August 18, 2016 @ 1:55 am By JD Alois  |  

In Mumbai this week there was an annual banking conference where Indian government officials presented or participated. The Hindu interviewed Reserve Bank of India Deputy Governor R Gandhi and he made several interesting statements. According to Gandhi; “Banking is necessary, but banks are not adding…… Read More

August 17, 2016 @ 2:15 pm By JD Alois  |  

The China government is very determined to keep their economy chugging along while fostering more innovative and entrepreneurial companies.  If you need any more proof this report in Sina.com is just another indication of what the current administration is willing to do to prime the… Read More

August 16, 2016 @ 10:51 pm By JD Alois  |  

United Overseas Bank (UOB) based in Singapore has embraced the Fintech revolution. Instead of fighting the inevitable, UOB has formed a partnership with one of the most prominent investment crowdfunding platforms around. OurCrowd is based in Jerusalem but they operate across the globe. OurCrowd has just… Read More

August 16, 2016 @ 9:53 pm By JD Alois  |  

United Overseas Bank (UOB) is determined not to be just an observer in the Fintech revolution. UOB has recently begun conducting training sessions with over 100 bankers to update and educate them on alternative finance.  UOB wants its management to be well-versed in the most… Read More

August 16, 2016 @ 10:20 am By Erin Hobey  |  

The South Korean commercial bank Woori Bank Co. has partnered with the Vietnam-based mobile banking service provider M-Service, according to Pulse News, aiming to strengthen its presence in the Southeast Asian financial market.  Woori Bank has opened over 200 global financial service outlets, with two offices already in Vietnam, in… Read More