Tagged: asia

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 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 5, 2016 @ 10:52 am By JD Alois  |  

At the most recent count, China-based peer to peer lender Yirendai (NYSE:YRD) has at least eight class-action lawsuits filed against the company following the enactment of new regulations directed towards the booming online lending industry in China. The firms that have made public proclamations are as… Read More

August 31, 2016 @ 4:09 pm By Spencer Li  |  

After nearly eight months since the original draft was first issued, the China Banking Regulatory Commission (“CBRC”) announced the official rules for the online lending industry on August 24, 2016. The unveiling came accompanied with a few policy curveballs that few industry participants were expecting…. Read More

August 30, 2016 @ 10:18 am By Samantha Hurst  |  

Last week, Hitachi, Ltd. (TSE: 6501, Hitachi) announced it has teamed up with Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) for a blockchain technology project to check digitalization in Singapore. Both companies reported that they had started Proof of Concept (PoC) testing. During the PoC testing,… Read More

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 @ 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 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 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 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 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 15, 2016 @ 9:41 pm By JD Alois  |  

Yirendai (NYSE:YRD), the publicly traded offshoot of huge P2P lender CreditEase, announced Q2 results last week and the markets liked what they heard. While Yirendai held their earnings call on Wednesday, August 10th, it has taken a few days for the news to sink in…. Read More

August 12, 2016 @ 6:27 pm By JD Alois  |  

Dianrong, a very large peer to peer lender in China (far bigger than any platform in the US), did some chest pounding yesterday.  In a release, Dianrong claimed the US Department of Commerce named the Chinese online lender the “Leader in China’s P2P Lending Segment.”… Read More

August 11, 2016 @ 10:27 pm By JD Alois  |  

Singapore-based crowdfunding platform CoAssets is preparing to list on the Australian Securities Exchange (ASX) later this month. CoAssets is already traded on the NSX (CAX) but the move up to the primary exchange is viewed as enhancing credibility for the investment platform.  CoAssets is already… Read More

August 7, 2016 @ 10:11 pm By JD Alois  |  

CreditEase, the largest peer to peer lender in China, is boosting its VC team as it continues its global expansion strategy.  A few days back, according to a report in ECNS, CreditEast appointed Anju Patwardhan, previously the Global Chief Innovation Officer at Standard Charter Bank…. Read More