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February, 2016
Archive

1482

Hong Kong robusts its fintech ecosystem

By Joseph Bradley for cryptocurrencynews.com

HK$17B has been pledged by the financial secretary of Hong Kong to begin building the key infrastructure necessary to support a thriving Fintech and tech center in the city. (more…)

Blockchain, China, Fintech news, Hong Kong

February 29, 2016

1253

Blockchain’s Growing Role in Financial Services

By Helen Thompson for SWIFT Institute,

In this article, Thompson examines how financial services firms might benefit from blockchain technology and some pitfalls they need to avoid as they move towards adoption. (more…)

Blockchain, Fintech news

February 29, 2016

1175

LendingClub and the limits of FinTech disruption

By Aaron Back for wsj.com

LendingClub’s new arrangement with its partner bank is a reminder that FinTech can’t disrupt everything. (more…)

Banks, Deals, Fintech news, p2p-payments, p2p/online lending

February 29, 2016

3128

Gartner’s Top 10 Internet Of Things Technologies For 2017 & 2018

By Louis Columbus for Forbes

  • Gartner predicts that low-power short-range networks will dominate wireless IoT connectivity through 2025, far outnumbering connections using wide-area IoT networks.
  • For enterprises to adopt and gain the full value of these technologies, significantly higher investments in training are needed.
  • Gartner’s Top 10 IoT technologies provide a glimpse into what their clients are most interested in today.

(more…)

Analytics, Fintech news, Global trends

February 29, 2016

961

Fast Dining Startup Allset Comes To New York City

By Anthony Ha for Techcrunch.com,

Lunch breaks! They’re great, right? But they can also turn into a huge time sink — I’ve definitely had moments where I’m frantically flagging down a waiter because everything’s taken longer than expected, leaving me to try to pay the check and get to my next meeting in just a few minutes. (more…)

Fintech news, Pre-order services, SME

February 28, 2016

864

Deals: Revolut Gets More Funding For Its Mobile Foreign Exchange Service

By Romain Dillet for techcrunch.com,

British startup Revolut just closed its seed round. After announcing having raised $2.3 million this Summer, the company has added a couple of new investors. In total, the company has raised $4.8 million (£3.2 million) from Index Ventures, Balderton Capital, Seedcamp and Point Nine, Venrex and business angels. (more…)

Deals, Fintech news

February 27, 2016

Visa shows vein recognition payment concept

 

With Visa’s new vein recognition payment concept you can literally wave your money goodbye. The company demonstrated their vision of future payment methods at the 2016 Mobile World Congress in Barcelona.

The video first appeared in wsj.com

Cashless, eWallets, Fintech news, Global trends

February 27, 2016

2387

Bain report: China’s E-Commerce (Full report)

By Jason Ding, Bruno Lannes, Weiwen Han, and Tingting Yao

Rapid innovation in China is delivering the future of online retailing and brand development. Brands that speed the integration of the customer experience into their business model and view the online and offline worlds as one long continuum will be the ones that reap profitable growth. They’ll be the brands that stand out, outpacing competitors and changing the rules in the world’s largest and most dynamic e-commerce market.

To see infographic press here
(more…)

Analytics, China, Fintech news, Global trends

February 27, 2016

Bain report: China’s E-Commerce (Infographic)

By Jason Ding, Bruno Lannes, Weiwen Han, and Tingting Yao

chinas-e-commerce-the-new-branding-game-220x027Executive summary:

Every single day of every week, an estimated 150,000 new Chinese shoppers join the ranks of the hundreds of millions in the country who have discovered the world of e-commerce.

Online retail penetration in China reached 11% in 2014 and surpassed RMB 2.9 trillion in total value. Penetration is expected to double by 2020, according to our estimates, with the total value skyrocketing to RMB 10 trillion. But this dramatic adoption of online shopping is not the biggest news to emerge from Bain & Company’s latest research on China’s e-commerce market.

To read the full report with numbers & diagrams press here
(more…)

Analytics, China, Fintech news, Global trends

February 27, 2016

877

Tech tycoon bets on the Internet of things’ future

By Klint Finley for Wired.com,

TOM SIEBEL HAS a history of placing winning bets. He was an early employee at Oracle, which is still the most widely used enterprise database in the world. He later founded Siebel Systems, a business software company that inspired followers such as Salesforce and Microsoft Dynamics. He sold that company to Oracle in 2006 for $5.8 billion. (more…)

Fintech news, Global trends

February 26, 2016

909

Deals: WorldRemit Gets $45M At A $500M Valuation To Grow Its Mobile Money Transfer Business

By Ingrid Lunden for Techcrunch,

A year after raising $100 million, London-based startup WorldRemit has picked up more funding. To compete against the likes of Western Union in the world of money transfers — and tap a remittance market that the World Bank estimates will be worth $610 billion in 2016 — the company has added another $45 million to its coffers. (more…)

Deals, Fintech news, Remittances

February 26, 2016

1096

Why Bitcoin Matters

by Jon Evans for techcrunch.com

The most epochal financial transaction of this century, to date, occurred on May 22, 2010. It did not involve Wall Street, or the City of London; it took place in Jacksonville, Florida. It did not feature collateralized debt obligations, or credit default swaps. It was a purchase of two Papa John’s pizzas, in exchange for a payment whose present value currently exceeds US $4 million. (more…)

Blockchain, Fintech news

February 26, 2016

UK takes first steps towards open banking revolution

A banking revolution in terms of financial services will benefit from the UK’s Open Banking Standard. Story by Daoud Fakhri.

The Open Banking Working Group’s newly published recommendations on open platform banking will, if fully implemented, lead to a revolution in the provision of banking services to UK consumers.

(more…)

Blockchain, Cryptocurrencies, Fintech news

February 26, 2016

1462

Amazon invades India

By Vivienne Walt for Fortune magazine,

How Jeff Bezos aims to conquer the next “trillion-dollar market.” The inside story. (more…)

Fintech news, India, Mobile payments/banking, SME

February 26, 2016

853

The Politics Of The Internet Of Things

By Dominique Guinard for Techcrunch.com

The prospective scale of the Internet of Things (IoT) has the potential to fill anyone looking from the outside with the technical equivalent of agoraphobia. However, from the inside, the view is very different. Looked at in detail, it is a series of intricate threads being aligned by a complex array of organizations. (more…)

Fintech news

February 26, 2016

1186

Payments Players Move on Blockchain Tech

By Bailey Reutzel for Coindesk.com

Amid a steady stream of positive news, incumbent payment companies are quickly launching products and services incorporating blockchain technology. (more…)

Blockchain, Cashless, Fintech news

February 26, 2016

1446

HK Government goes all in on fintech

Hong Kong’s financial secretary John Tsang Chun-wah reserved a special mention for fintech in his budget speech on Wednesday, promising to pump cash into the startup ecosystem and create a dedicated space to support up to 150 new financial technology companies over the next five year. (more…)

Fintech news, Government activities, Hong Kong, InspirAsia

February 25, 2016

6696

KPMG Report: Robo Advice Platforms Will Manage US$2.2 trillion Worth of Assets by 2020

By KPMG report, first publieshed by Fintechnews.ch 

KPMG surveyed 1,500 bank clients about their awareness of and interest in digital wealth management, or robo-advisors.

(more…)

Banks, Fintech news, Marketing Report

February 25, 2016

1310

Could The 2009 Crisis Have Been Avoided With Blockchain?

By George Samman, the former CMO of Fuzo which is using blockchain to bring financial inclusion to the developing world, co-founder BTC.sx, a former Wall Street Senior Portfolio Manager

This post will explore the 2009 subprime mortgage crisis and the hypothetical impact a blockchain may have had with regards to the proliferation of toxic synthetic Mortgage Backed Securities (MBS) and Collateralized Debt Obligations (CDOs).

(more…)

Blockchain, Fintech news

February 25, 2016

965

Japan considers making bitcoin a legal currency

By Richard Smart for Guardian,

Proposed changes would bring bitcoin, dogecoin and other cryptocurrencies under definition of currency (more…)

Blockchain, Fintech news, Government activities

February 25, 2016

901

WeChat Pay goes global in search of Chinese tourist dollars

By C.Custer for TechinAsia,

The battle over the Chinese epayment market is raging fiercely now that Apple Pay and Samsung Pay have taken to the field in China. But WeChat Pay is heading in the opposite direction: the service announced yesterday that it’s launching support for overseas vendors. (more…)

China, eWallets, Fintech news, Remittances

February 25, 2016

1021

Western Union Brings Money Transfer And Its Tricky Fees To Chat Apps

By Josh Constine for Techcrunch,

Remittance has always been a shady business. Migrant workers need to send money they earn home to their families, but get hit with fine print fees so less cash comes out the other side than they might assume. Remittance companies earn extra by keeping the margin between their own made up exchange rate and the real one. (more…)

Cashless, Fintech news, Remittances

February 25, 2016

1205

Taiwanese restaurant POS startup raises $5.6m, has 1,000+ paying customers

By Terence Lee for Techcrunch.com,

Street food heaven Taiwan is getting a tech upgrade, courtesy of Taiwanese startup iChef. It has cooked up an iPad-based restaurant point-of-sales (POS) system which has been scoring customers. 1,080 restaurants are using its product, each paying on average US$80 a month (that’s a monthly revenue of US$86,400). (more…)

Pre-order services, SME

February 25, 2016

1274

How Mobile Payments Reshape Lifestyles

By LI YUAN for wsj.com

A family’s finances show how phones increasingly become wallets (more…)

Fintech news, Global trends

February 25, 2016

1425

The bank that fintech built: Number26 and TransferWise team up to re-invent banking

By Paul Sawers for VentureBeat

Two European fintech startups are teaming up to give a glimpse of what the bank of tomorrow could look like. (more…)

Banks, Fintech news, Mobile-first banks

February 25, 2016

1115

Deals: KPMG acquires Australian FinTech company Markets IT

KPMG Australia

Accounting and consulting giant KPMG has acquired Markets IT for an undisclosed sum. The purchase of the Australian FinTech player will improve KPMG’s expertise in the area of Murex software, as the firm seeks to provide financial institutions with a range of solutions in the area of regulatory compliance, cost-cutting and meeting competitive pressures. (more…)

Deals, Fintech news

February 24, 2016

724

Malaysian Islamic banks launch investment account platform

By Joseph Sipalan for The Dealstreetasia,

A group of six Malaysian Islamic banks on Wednesday launched a sharia-compliant investment platform that could shift the role of Islamic lenders to investment intermediaries from credit providers currently. (more…)

Banks, Fintech news

February 24, 2016

fastacash, Cellum Take Aim At Trillion Dollar Mobile Payments Market

Jointly bring expanded, omni-channel service capabilities and access to new geographies and merchants, to take advantage of global mobile payments market – forecast to hit US$1 trillion by 2017 (IDC)

 The combined reach of fastacash and Cellum spans over 200 million users across four continents – Asia, Australia, Europe and North America  (more…)

Deals, Remittances

February 24, 2016

Singapore’s fastacash and Hungary’s Cellum join hands to expand reach

‎By Anisa Menur A. Maulani for e27.com

 The combined network of fastacash and Cellum will span over 200 million users across Asia, Australia, Europe and North America (more…)

Cashless, Fintech news, Remittances

February 24, 2016

876

TableHero, an Operating System for small businesses, raises US$1M

By Sainul Abudheen K for e27,

Its product will simplify website and digital presence management; reservations, bookings and appointments; and payments, loyalty and customer management (more…)

POS/mPOS and online acquiring, Pre-order services

February 24, 2016