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September, 2016
Archive

890

Remitly raises another $38M, adds World Bank’s IFC as it pushes into emerging markets

By Ingrid Lunden for TechCrunch

Remitly, a startup co-founded and led by a former executive of Barclays who saw a gap in the market to build money transfer and other financial services for emerging markets and the “unbanked”, is today announcing that it has raised $38.5 million, as well as expansion to seven more countries in Latin America. The funding, which brings the total raised by Remitly to just under $100 million, comes just nine months after Remitly raised the same amount in a Series C round, and underscores how the company is trying to seize a moment of growth. (more…)

Deals, p2p-payments, Remittances

September 30, 2016

1272

Leonie Hill Capital Announces a Strategic Partnership With Life.SREDA VC

28 September 2016, SINGAPORE – International FinTech-focused venture capital firm Life.SREDA signed a memorandum of understanding with Leonie Hill Capital (LHC), a Singapore-based private equity fund, to become strategic partners in the the area of investments into financial technologies (FinTech) in Asia. (more…)

Fintech news, Hotnews, InspirAsia

September 30, 2016

1270

Inside Paytm’s mini-bank and its plans to go where banks don’t

By Meghna Rao for TechInAsia

Across the street from Paytm’s office in Noida is a man selling chai. The company’s signature blue and white sticker is pasted on the back wall of his store. I scan the accompanying QR code and transfer INR20 (US$0.30) from my wallet into his for a steaming hot cup. (more…)

India, InspirAsia, Mobile payments/banking, Mobile-first banks, POS/mPOS and online acquiring

September 30, 2016

1107

Indian bitcoin venture Unocoin raises $1.5 million

By Finextra

Unocoin, a Bangalore based Bitcoin startup, has raised $1.5 million in a Pre Series-A round, the highest total raised for a digital currency venture in Indian history. (more…)

Blockchain, Cryptocurrencies, Deals, India, InspirAsia

September 30, 2016

1088

The remittance process takes too long. This startup is changing that.

By Leila Lai for TechInAsia

Chynge, a Singapore-headquartered fintech startup which has developed a way to clear monetary regulations on remittance transactions more efficiently across the Asia Pacific region, is now looking to expand its reach. (more…)

InspirAsia, Remittances, Singapore

September 29, 2016

1053

Robinhood debuts advanced trading tools after processing $12 billion in transactions

By Ken Yeung for VentureBeat

Investment app Robinhood has set out to make stock trading simple and frictionless for the millennial generation. And while it already offers commission-free trading of stocks in the public space, there are users who want to do more. That’s why today the company is introducing Robinhood Gold, a premium suite of tools for experienced investors. (more…)

Financial Markets / Trading, Fintech news

September 29, 2016

1010

JPM Hires Moven Co-Founder Alex Sion as Banking, Fintech Converge

By Penny Crosman for American Banker

JPMorgan Chase has hired Alex Sion, co-founder of the mobile-only neobank Moven, to lead its mobile apps. The move is an example of how banks are looking to fintech entrepreneurs to bring innovation in, and it illustrates the emphasis and importance banks are putting on their mobile channels. It’s also the latest round of musical chairs for big banks’ digital channel executives. (more…)

Fintech news, Mobile-first banks

September 29, 2016

879

Why have some of Silicon Valley’s top investors started investing in Latin America?

By Julie Ruvolo for TechCrunch

Latin America just might be the most overlooked emerging market on the planet. (more…)

Deals, Fintech news, Global trends, Hotnews

September 29, 2016

1128

SEC to host public fintech forum

By Finextra

The Securities and Exchange Commission is to host a public forum to discuss fintech innovation in the financial services industry. (more…)

Fintech news, Government activities

September 29, 2016

992

Lydia grabs $7.8 million for its peer-to-peer payment service

By Romain Dillet for TechCrunch

French startup Lydia raised $7.8 million (€7 million) from New Alpha AM and Oddo & Cie in order to expand to other European countries. The startup lets you easily pay back your friends without any fee using a mobile app — among other things. Think about it as a sort of Venmo for France. (more…)

Deals, Mobile payments/banking, p2p-payments, p2p/online lending

September 29, 2016

965

Is Insurance Bintcoin’s Killer App?

by Justin Oconnel for Hacked

An insurance platform based on the blockchain. That’s what those pesky blockchainers – who find themselves on the cutting edge of fintech – find themselves now considering for an industry long marred by hacks, loss of coins and other compromised value. (more…)

Blockchain, Insurance

September 29, 2016

789

Consumers Around the World Want to Use Smartphones as an Alternative to Plastic Cards

By Sofia for LTP

Understanding of the readiness of certain countries and regions for innovative transformation is a crucial part of business expansion strategies for startups in any industry. While there are examples of innovative startups that have expanded globally despite regulations and other problems, for the large part of entrepreneurs, the matter of diving into the specifics of the market and understanding the opportunities (which may not be in place) is sometimes a significant inhibitor of growth and development. (more…)

Global trends, Marketing Report

September 29, 2016

838

Canada’s FinTech Ecosystem Is Gaining Momentum as a Global Hub for Innovative Technology

By Sofia for LTP

As FinTech hubs around the world enter various phases of growth and development, the attention of financial industry professionals is being scattered over emerging locations and new opportunities for businesses. While Canada is not really a ‘freshman’ ecosystem in FinTech, the country appears to be gaining attention as possibly one of the hottest FinTech hubs. (more…)

Fintech news, Global trends, Government activities

September 29, 2016

841

Neobanks Chasing U.K.’s Biggest Lenders Face Battle for Survival

By Richerd Partington for Bloomberg

Will Stanley and Jonathan Lind are bonding over pizza, beer and a mutual affection for their coral-colored debit cards. (more…)

Banks, Fintech news, Global trends

September 28, 2016

996

Goldman Says It Can Beat Fintech Ventures With Online Loan Terms

By Dakin Campbel for Bloomberg

Goldman Sachs Group Inc., the Wall Street investment bank pushing into online consumer lending, expects it can make loans on more competitive terms than Silicon Valley upstarts that pioneered and dominate the business. (more…)

Analytics, Fintech news, Global trends, Hotnews

September 28, 2016

Banks Will Start Actually Using Blockchain Next Year: IBM Report

By Tanaya Macheel for American Banker

For banks eyeing blockchain technology, 2016 has been the year of tests, trials and proofs of concept. By this time next year, however, some 15% of them could be running blockchain solutions in the wild, according to research by IBM. (more…)

Analytics, Blockchain, Global trends

September 28, 2016

873

Public blockchain investments heat up: $5 million in 5 minutes

By Alex Sunnarborg for VentureBeat

In early 2016 it started becoming obvious that Bitcoin hadn’t just given rise to a full new asset class of blockchain related projects but that these entities werereinventing how early stage fundraising is done. (more…)

Blockchain, Cryptocurrencies

September 28, 2016

870

Chinese Travelers Boost Growth for Payment Platform Alipay

By Reuters

It has 80,000 merchants worldwide under its belt.
China’s Alipay payment platform has inked deals with 10 overseas airports as it looks to expand on the back of Chinese consumers’ growing appetite for travel, and has already signed up more than 80,000 merchants worldwide, a senior executive said Monday. (more…)

Fintech news, Global trends, p2p-payments

September 28, 2016

1189

Ripple rudely gatecrashes Sibos party

By Finextra

Like the unwanted guest at a party who trashes the house and runs off with your girlfriend, Ripple is throwing its weight around at Swift’s annual Sibos conference with a series of barbed tweets and acerbic commentary asking if the interbank co-operative’s set-piece Global Payments Innovation initiative is all its cracked up to be. (more…)

Banks, Blockchain

September 28, 2016

1068

Klarna Goes Live with SAP’s Smart AFI

By Julie (Schicktanz) Muhn Finovate

Online payment solutions company Klarna has made a move that furthers its goal to become “the world’s favorite way to buy”. The Ohio-based company has gone live withSAP’s Smart Accounting for Financial Instruments, (Smart AFI). (more…)

Fintech news, news, POS/mPOS and online acquiring

September 28, 2016

882

“Good guy” loan startup LendUp fined $6.3M for overcharging

By Josh Constine for TechCrunch

LendUp was supposed to be different than the payday loan sharks that rip off the poor when they need emergency cash. But in its early days, LendUp charged customers illegal fees, miscalculated interest rates, falsely advertised loans nationwide that weren’t available there and misled people that borrowing from LendUp would boost their credit score. (more…)

Fintech news, p2p/online lending

September 28, 2016

947

CLS to use Hyperledger Fabric for new payment netting service

By Finextra

Multi-bank foreign exchange counterparty CLS is to build a payments netting service for trades settled outside the core membership using distributed ledger technology based on Hyperledger Fabric. (more…)

Blockchain, Fintech news

September 28, 2016

960

Startupbootcamp Fintech arrives in Mumbai

By Finextra

The Startupbootcamp accelerator network is widening its fintech programme, opening an outpost in Mumbai as it seeks out Indian startups bidding to transform the financial services industry. (more…)

Fintech news, Hotnews, India

September 28, 2016

806

CSDs look to harness distributed ledger technology

By Finextra

A pair of central securities depositories (CSDs) are tackling the threat posed to their industry by the blockchain frenzy head on, forming a partnership to explore how they can make the most of distributed ledger technology. (more…)

Blockchain, Fintech news

September 28, 2016

1375

Fintech hubs go under the microscope

By Finextra

London, Singapore, New York, Hong Kong and Silicon valley have been ranked as the world’s top fintech hubs, although specialist niches are emerging in Belgium, Ireland, and Shanghai, according a report by Deloitte. (more…)

Analytics, Global trends, Hong Kong, Hotnews, Marketing Report, Singapore

September 28, 2016

941

Three things venture capitalists need to show their own investors

By Harry Stebbings of TechCrunch

“The table stakes for [venture capitalists] has never been higher,” says Judith Elsea,  co-founder of the fund-of-funds Weathergage Capital, in our latest interview. (more…)

Crowdfunding/investing

September 28, 2016

1189

Top 12 Prepaid Debit Cards Available in Europe for Hassle-Free and Secure Cross-Border Use

By LTP

Prepaid cards are payment cards with a value stored on the card itself unlike debit cards, where an external account is maintained by a financial institution, or credit cards, which are subject to the credit limits set by the issuer. One of the important benefits that prepaid cards provide is the segmentation of the spending by consumers for categories such as travel, online shopping, m-commerce, etc. (more…)

About, Cashless, Mobile payments/banking, POS/mPOS and online acquiring

September 28, 2016

1033

Australian ‘Big 4’ Bank Taps Blockchain to Transfer $10 to Canada, in 10 Seconds

By Samburaj Das for CryptocoinsNews

The National Australia Bank, one of Australia’s big four banks, successfully completed its first proof-of-concept (PoC) money transfer over a blockchain. (more…)

Blockchain, Fintech news

September 27, 2016

Banks see strong potential for AI in payments – Finextra Research

Pelican, a leading provider of solutions to the financial services sector, today released the findings of its global survey ‘Leveraging artificial intelligence for payments efficiency’, which explores the attitudes of senior payment professionals within banks and corporates towards the use of artificial intelligence (AI) in supporting the payments business and related processes. (more…)

Fintech news, Global trends

September 27, 2016

957

Bank payment revenues hit $1.1 trillion in 2015 – BCG

From BCG

Facing tough challenges both from small fintech startups and from global digital giants, incumbent transaction-banking leaders must improve customer journeys, maximize security, minimize complexity, and add value beyond pure payments if they hope to survive and thrive, according to a new report by The Boston Consulting Group (BCG). (more…)

Global trends, Hotnews

September 27, 2016