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Sberbank and Gett Announce the Signing of a Seven-Year $100-Million Loan Facility to Fund Gett’s Further Expansion

By LTP

November 30, 2016, Moscow Sberbank recently announced the signing of a $100 million seven-year venture loan agreement for Gett (formerly GetTaxi), a rapidly-growing global on-demand mobility company with a presence in Russia, the US, the UK and Israel. The funds will be used to finance Gett’s continued business expansion. Furthermore, Sberbank will hold options linked to Gett stock. The transaction was organized by the Merchant Banking and Advisory Department of Sberbank CIB, the corporate and investment banking business of Sberbank, via its investment vehicle, Sberbank Investments LLC (a 100% subsidiary of PAO Sberbank). (more…)

Banks, Deals, Fintech news

December 5, 2016

How companies in Southeast Asia can cater to the unbanked market

By Yon Heong Tung for e27

Southeast Asia’s unbanked population currently sits in the hundred millions, companies — both corporates and startups — need to leverage the range of e-payment tech to successfully penetrate these markets. (more…)

Analytics, eWallets, InspirAsia, Mobile payments

December 5, 2016

Financial Technology Start-Ups to Get a License to Bank

By

Regulators are planning to create a new type of banking license that will allow upstart financial technology companies to expand more quickly across the country.

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Fintech news, Government activities

December 5, 2016

Neosurance Ramps up After the MEDICI Top 21 – Insurtech

By LTP

Starting from today, a low-cost injury coverage with a daily allowance in case of accident plus medical assistance is available via smartphone. This has been made possible by the recent partnership established between an important international insurance group and the Italian startup Neosurance – winner of the Insurance IoT Newcomer Award in London and the MEDICI Top 21 InsurTech Award. More details about the partnership and the price of the insurance policies will be revealed shortly. (more…)

Fintech news, Insurance

December 4, 2016

China’s Peer to Peer Lending Meets Blockchain as Dianrong Joins Hyperledger Project

By Justin OConnell for CryptocoinsNews

Chinese peer to peer platform Dianrong.com announced it will join Hyperledger Project, one of the world’s largest blockchain initiatives. According to the company’s press release, “Dianrong.com is the first Chinese P2P company to succesfully join the project.” (more…)

Blockchain, China, Fintech news, p2p/online lending

December 4, 2016

BOE asks Fintech firms to help warn banks about cyberattacks

By Rebecca Campbell for Hacked

The Bank of England is recruiting FinTech companies to help prevent cyberattacks targeting financial institutions, according to a report from The Telegraph. (more…)

Fintech news, Government activities, Security

December 4, 2016

What Did Financial Institutions in the US Learn From FinTech Startups?

By Elena Mesropyan for LTP

As much as financial technology innovators would like to believe in a challenge they impose on institutions, in reality, the hype is often exaggerated. Among factors that played a major role in bloating the FinTech threat are an outstanding marketing (like with Lemonade) and overvaluation by VC firms and angels. As a result, the reality check sometimes demonstrates holes in general judgment (Square-Starbucks deal, for example) and casts doubts over business models. (more…)

Analytics, Banks, Fintech news, Mobile payments

December 4, 2016

Visa buying CardinalCommerce to further token security

By John Adams for PaymentsSource

Visa’s growth beyond plastic cards relies heavily on tokenization, a strategy that should get a major boost from its planned acquisition of CardinalCommerce. (more…)

Deals, Fintech news, Payment processors/providers/gateways, Security

December 4, 2016

South Korea and Indonesia are Considering Fintech Collaboration

By Rebecca Campbell for CryptocoinsNews

Indonesia and South Korea are thinking about joining forces in an attempt to boost the FinTech industry to help the burgeoning sector in both countries, reports The Jakarta Post. (more…)

Cryptocurrencies, Fintech news, Government activities, Indonesia, Korea

December 4, 2016

Russian central bank loses $31 million in cyber attack

By Reuters

Hackers stole more than 2 billion rubles ($31 million) from correspondent accounts at the Russian central bank, the bank said on Friday, the latest example of an escalation of cyber attacks on financial institutions around the globe. (more…)

Banks, news, Security

December 4, 2016

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Hong Kong neo bank Neat moves into beta testing

By Finextra

Neat provides a mobile current account targeting university students and young professionals. (more…)

Fintech news, Hong Kong, Mobile-first banks

December 2, 2016

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How PwC’s Vulcan Blockchain Seeks to Bring Banks into the New Digital Era

By Lester Coleman for CryptocoinsNews

Vulcan Digital Asset Services, a newly-launched service from Pricewaterhouse Coopers (PwC), promises a new era for financial and commercial services with digital currency technology. A single platform connects identity, money and assets, allowing users to spend, share, trade or track any physical or digital asset cheaply and quickly. (more…)

About, Blockchain, Fintech news

December 2, 2016

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MAS Unveils New Moves To Boost Fintech Sector in Singapore

By

The Monetary Authority of Singapore (MAS) has announced a series of moves to boost fintech development in the city-state and strengthen ties with other Asian countries. (more…)

Fintech news, Government activities, Insurance, Security, Singapore

December 2, 2016

R3 makes code for financial agreements platform open

By Tanaya Macheel for American Banker

The bank consortium R3 CEV has released its Corda platform as open source to encourage innovation and interoperability in the industry’s development of blockchain technology. (more…)

Banks, Blockchain, Fintech news

December 2, 2016

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BAAS.IS, India FinTech, SE Asia Startups and FemTech Discussion at Life.SREDA Event Singapore

By LTP

It was a full house and many people were standing at the back and on the sides of the room. November 14, 2016, was the first day of the Singapore FinTech festival and Life.SREDA hosted a special event to discuss some real challenges of FinTech development in Asia and the steps to be taken towards building a successful FinTech ecosystem. The main topics discussed during the event were Bank-as-a-Service and open API banking as the way to address existing challenges and to make a substantial impact on the success of the FinTech ecosystem. The event saw prominent figures from the FinTech industry share their thoughts along with panel discussions. (more…)

About, Banks, Fintech news, Hotnews, InspirAsia, Singapore

December 2, 2016