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November, 2016
Archive

417

These fintech startups step out of incubator with series A funding of $3m each

By  for TechInAsia

“I can’t build a steel factory overnight. But with startups, what is wonderful is that the initial money invested is small, but you can still develop very big ideas.” (more…)

Deals, Fintech news, India

November 30, 2016

592

Uber rival Grab hits the gas on its digital payments platform in Southeast Asia

By  for TechCrunch

On the face of it, that might not sound like a huge advance but, bear with me, it’s notable. (more…)

eWallets, Fintech news, InspirAsia, Mobile payments/banking, Singapore

November 30, 2016

577

India FinTech Awards: The Winners

India is at the beginning of a FinTech revolution with significant rewiring of financial services happening with Aadhar,mobile, UPI among others.The India FinTech Awards (IFTA) 2016 platform, organized by the India Fintech Forum, provided a great opportunity for FinTech firms to showcase their products to a curated audience comprising of investors, bankers, entrepreneurs, media and corporate leaders. (more…)

Fintech news, India

November 30, 2016

AvidXchange Receives Strategic Investment

By FinSMEs

avid

AvidXchange, a Charlotte, N.C.-based accounts payable and payment automation platform provider, raised an additional round of funding. (more…)

Deals, Fintech news, SME

November 30, 2016

537

Citi launches in-app replacement card tracker

By Finextra

Starting today, U.S. Citi credit cardmembers can track the steps of their replacement card delivery in real-time within the Citi Mobile App for iPhone or Android or through Citi Online. (more…)

Fintech news

November 30, 2016

470

Mobile Has Been Huge For PayPal On Big Holiday Shopping Days

By  for Fortune

With more people using smartphones, mobile shopping is seeing strong growth this holiday season. Digital wallet giant PayPal said that the value of transactions through mobile devices grew 50% on Cyber Monday, highlighting the increasing importance of mobile for online and brick and mortar retailers. (more…)

Mobile payments/banking, news

November 30, 2016

740

Singapore’s startups, immigrants get new channel to send money abroad at lower cost

By  for TechInAsia

Indians abroad will send US$65.5 billion home this year, according to a World Bank estimate. That’s slightly lower than the US$69 billion inflow in 2015, but it’s still the largest for any country, followed closely by China. (more…)

Fintech news, Remittances, Singapore

November 30, 2016

2406

Word Life.SREDA means … ecosystem!!!

By Khushi Mehrotra – Life.SREDA VC & InspirAsia Accelerators

We believe ecosystems are very important to be successful in the FinTech space. We spend a fair bit of time thinking through how we can accelerate the development of communities. There are many types of communities we believe are important in development of the ecosystem. These range from start-up community, education community, investor community, mentor community etc. Through structured thought provoking discussions in the various community events we not only contribute our perspectives but also help in connecting the various dots together. This helps in generating a level of trust in the ecosystem. (more…)

Fintech news, Global trends, Hotnews, InspirAsia

November 29, 2016

472

R3 Demonstrates Blockchain Technology in Bermuda

By Justin OConnell for CryptocoinsNews

R3 brought its blockchain research to Bermuda to demonstrate how distributed ledger technology could transform the way the island nation and the businesses incorporated there operate. (more…)

Banks, Blockchain, Fintech news

November 29, 2016

482

Car Insurance Pricing Is Broken, But Your Phone Could Fix It

By David R. Martin for Wired

AS THE COMMERCIALS make clear, shopping for car insurance can be frustrating. That’s in part because auto insurance pricing is largely a black box for consumers. While the price a consumer pays for insurance is based on a risk estimate derived from demographics, past traffic violations, and claims history, each carrier uses the data in a unique, closely guarded way to calculate a price, and the number of prices for a given risk is as large as the number of insurers. Thus, it is difficult to be sure that you have the best price, or even a decent price, and many consumers are skeptical of the fairness of the entire process. (more…)

Analytics, Fintech news, Insurance

November 29, 2016

2451

FinTech in China: A 53-Point Summary

By Gaurav Sharma for LTP

If there is a FinTech version of Silicon Valley, it is China, Period. Today, there is no equivalent of China in the FinTech world. Having spent the past several months in China, here are some observations/insights from the FinTech scene in China: (more…)

Analytics, China, Fintech news, Hotnews

November 29, 2016

758

Blockchain Startup Bluzelle Eyes New Blockchain Markets With KPMG Digital Village Partnership

By

Bluzelle Networks, a Singaporean company specializing in blockchain applications for the financial services industry, has been named as an Emerging Star in KPMG and H2 Ventures’ notorious Fintech 100 list. The company plans to tap into new markets with its partnership with KPMG Digital Village. (more…)

Blockchain, Cryptocurrencies, eWallets, Fintech news, Insurance, Singapore

November 29, 2016

535

China Leapfrogs the World in Fostering Innovation

By Elena Mesropyan for LTP

With a population of over 1.35 billion, China recently became the second largest economy and is increasingly playing an important and influential role in the global economy. Not only China is a massive economic force, but also one of the leading countries in terms of disruptive technology and innovative businesses. One of the vehicles that allowed China to go far and beyond in the development of disruptive technology is the rate of mobile adoption – around 675 million people in China use smartphones with 40% of smartphone users making mobile payments. (more…)

China, Fintech news, Global trends, Government activities

November 29, 2016

596

ING pulls plug on P2P payments app Twyp

By Finextra

ING is to discontinue its P2P mobile payments app Twyp in the Netherlands after it failed to gain traction with customers. (more…)

Banks, Fintech news, Mobile payments/banking, p2p-payments

November 29, 2016

456

Zenefits reaches a $7M settlement with California

By Cale Guthrie Weissman for FastCompany

Zenefits has reached a deal with California regulators to the tune of $7 million, BuzzFeed News reports, citing a “person briefed on the deal.” The insurance company has spent the last nine months trying to rebuild its business after revelations arose that the company systematically skirted insurance laws and regulations.  (more…)

Fintech news, Insurance

November 29, 2016

639

The Filipino Startup Disrupting The Pawn Shop Industry

By Casey Hynes for Forbes

When David Margendorff arrived in the Philippines several years ago, the country’s financial system piqued his interest almost immediately. While working with a fintech startup, he became aware of the high percentage of unbanked people and what he calls the “weak consumer banks.” As an entrepreneur, he was keenly aware of the Philippines’ potential for fintech innovations and he soon found an opportunity to disrupt one of the oldest industries on the books – pawn shops. (more…)

Deals, Fintech news, p2p/online lending, Philippines

November 29, 2016

490

SmartFunding raises US$490K to help SMEs sell their invoices to investors

By Yon Heong Tung

Peer-to-Business invoice financing platform SmartFunding has raised a S$700,000 (US$490,000) seed funding from Fintech Asia Group, the fintech venture builder arm of ASX-listed Fatfish, and Australian investment firm Investorlend. (more…)

Deals, Fintech news, p2p/online lending, SME

November 28, 2016

569

Commercial Bank of Dubai to launch digital-only bank

By Finextra

Commercial Bank of Dubai is to launch a digital-only bank, dubbed CBD NOW, targeting millennials and tech-savvy customers in the UAE. (more…)

Fintech news, Mobile-first banks

November 28, 2016

546

Here’s a tech solution to the killer queues at banks and ATMs in cash-starved India

By

My colleague in Bangalore, Neha, stood for hours at ATMs twice – and failed on both occasions to withdraw cash. Another colleague, Abhilash, was third in the queue after a four-hour wait when the ATM ran out of cash. (more…)

Cashless, Fintech news, India

November 28, 2016

509

Will the Bitcoin Scalability Debate Ever End?

By Andrew Quentson for CryptocoinsNews

or almost two years, there appears to be little discussion in bitcoin’s two main public forums other than scalability, an ancient topic, in bitcoin terms, that has consumed our community at the expense of all else. (more…)

About, Cryptocurrencies, Global trends

November 28, 2016

414

PayPal: Nearly 1/3 of Thanksgiving and Black Friday shopping was done on mobile

By  for VentureBeat

With the official start of the holiday shopping season behind us, the time has come to see what damage we have done to our checkbooks. Many in the commerce space have already come out with their own analysis, but today it’s PayPal’s turn to weigh in. PayPal confirms that mobile shopping isn’t a fad and reports that it has seen wider mobile usage during this Thanksgiving holiday than before. In fact, approximately one-third of its transactions were done on a mobile device. (more…)

About, Analytics, Fintech news, Global trends, Mobile payments/banking

November 28, 2016

453

InsurTech in Asia: 10 things to know

By Philip P. for e27

InsurTech is blossoming, thanks largely to passionate ecosystem builders contributing their networks and expertise to invigorating and future-proofing the insurance industry. I feel extremely fortunate to be at the epicentre of this movement, and deeply inspired to foster InsurTech ventures to achieve increasing quality and scale. (more…)

About, InspirAsia, Insurance

November 28, 2016

762

India gets a new bitcoin mobile app

By  for TechInAsia

India is still reeling under a cash crunch triggered by the government’s sudden demonetization move announced on November 8. Overnight, high-denomination currency – 500-rupee notes and 1000-rupee notes – became illegal and those had to be physically exchanged at banks. (more…)

Cryptocurrencies, eWallets, Fintech news, India, Mobile payments/banking

November 28, 2016

620

Alibaba’s Ma proposes collaboration in fintech sector

By Daniel Ren for 

Jack Ma, chairman of Alibaba Group, offered an olive branch to other financial technology (fintech) organisations on Saturday as he advocated a concerted effort to tap the huge potential of China’s digital banking sector. (more…)

About, Banks, China, Fintech news, Hong Kong, SME

November 28, 2016

749

How banks in Singapore are supporting entrepreneurs and SMEs

By Yon Heong Tung for e27

As a leading financial hub in Asia, it is no surprise that Singapore is experiencing a surge in innovations in the financial sphere. Coupled with several doom and gloom reports about the republic’s sluggish economic growth, the time to invigorate businesses comes at a very critical juncture. (more…)

Banks, Singapore, SME

November 28, 2016

683

The Strongest Transformative Forces in the Insurance Industry

By Elena Mesropyan for LTP

No other industry has a bigger impact on the improvement of national welfare than insurance. In 2015, insurance premium volume worldwide reached $5.265 trillion, attracting ever-expanding attention to insurance business from across the field. In the years ahead, insurance landscape will no longer be an oligopoly as transformative forces will reach the level of impact enough to reimagine traditional business models. But what are those forces and how will they change insurance? An interesting opinion on the matter has been shared a week ago in the publication called Driving FinTech Innovation in Financial Services by Deloitte in collaboration with All Street, which emphasizes important external and internal forces that will impact general insurance landscape transformation, some of which we have notedbefore. (more…)

About, Analytics, Insurance

November 26, 2016

841

EU Commission Launches Initiative to Boost FinTech and Blockchain Startups

By Rebecca Campbell for CryptocoinsNews

The European Commission (EC) has announced the unveiling of a new initiative it has set up aiming to give many of Europe’s FinTech and blockchain innovative entrepreneurs every opportunity to become world leaders, according to an EC press release. (more…)

Blockchain, Cryptocurrencies, Fintech news, Government activities

November 26, 2016

541

Swiss government looks to ease rules for fintechs

By Finextra

A division of the Swiss government has called for an easing of regulations for fintech firms in favour of a more forward-thinking approach, including a special ‘fintech’ license. (more…)

Fintech news, Government activities

November 26, 2016

605

Crowdfunding advice: 4 sage tips for a successful campaign

By Ken Mendiola for e27

While fintech in Asia continues to build momentum more broadly, crowdfunding in particular offers huge potential that remains largely untapped. In a Q3 2016 report, KPMG reveals that Asia got the largest chunk of venture capital in the fintech and cryptocurrency technology sectors. (more…)

About, Crowdfunding/investing

November 26, 2016

465

ECrowd! raises more than €300K in second round of funding

By Finextra

The debt crowdfunding – also known as crowdlending- platform ECrowd!, specializing in sustainable investments, has closed an investment round of € 307,900 through the online investment platform Crowdcube (equity crowdfunding). (more…)

Crowdfunding/investing, Deals, Fintech news

November 26, 2016