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August, 2017
Archive

291

Brief: Singapore lags behind in online payments

The news (extracted from Today):

  • Ninety percent of Singaporeans surveyed by online payments giant PayPal say they prefer to use cash as their primary mode of payment, with only a small percentage using online payments regularly.
  • The preference for cash in Singapore was followed in popularity by other traditional payment methods such as bank transfers or internet banking at 74 percent, with 61 percent saying they prefer credit cards.
  • Despite these preferences, only 43 percent use cash regularly, citing problems such as having insufficient cash on hand and long queues at ATMs.

(more…)

Fintech news, Global trends, Government activities, Mobile payments/banking

August 31, 2017

Credit Suisse fintech fund invests in employee monitoring firm

Credit Suisse’s fintech fund has made a majority investment in Sapience Analytics, an Indian firm that helps firms monitor how employees use their computers and phones. Financial terms were not disclosed. (more…)

Banks, Deals, Global trends

August 31, 2017

SAS and KPMG launch first cloud-based IFRS9 and stress testing RegTech solutions in Asia

SAS and KPMG in Singapore released two new Managed Analytics Service Providers (MASP) solutions – the first cloud-based, cost-effective and secure solutions in market to help financial institutions in Asia meet the International Accounting Standards Board’s (IASB) new IFRS9 reporting standards which take effect from 2018, as well as with enterprise stress testing. (more…)

RegTech

August 31, 2017

235

Ride-hailing app Grab introduces P2P payments feature

Southeast Asian ride-hailing service Grab is venturing further into the payments market, adding a P2P instant fund transfer feature to its app in Singapore. (more…)

Fintech news, Global trends

August 31, 2017

384

DBS launches Digibank in Indonesia

By DBS

DBS Bank, a leading bank in Asia, today officially unveiled digibank by DBS (digibank), a groundbreaking mobile-led bank, in Indonesia. (more…)

Fintech news

August 31, 2017

294

Australia’s ASX Had 133 IPOs in 2016, the NYSE 37. Why is that?

Here is an interesting factoid, recently discovered. The ASX, or Australian Securities Exchange, the country’s primary market for trading securities is killing it in Initial Public Offerings in comparison to many of its global cousins. (more…)

Fintech news, Global trends, Hotnews

August 31, 2017

263

Dianrong Teams Up With FinEX Asia Launch Fintech Asset Management Platform

On Wednesday, Dianrong announced it has teamed up with FinEX Asia to launch what it claims to be Asia’s first fintech asset management platform. According to the duo, FinEX Asia combines its risk management expertise with Dianrong’s fintech capabilities to give Asian investors access to a diverse and attractive portfolio of U.S. consumer lending assets. (more…)

Global trends, Hotnews, InspirAsia, p2p/online lending

August 31, 2017

435

Insurtech Startup Coya Secures $10 Million During Seed Funding Round Led By Peter Thiel’s Valar Ventures

German-based insurtech start-up Coya has reportedly secured $10 million during its latest seed funding round, which was led by Peter Thiel’s fund Valar Ventures with participation from e.ventures and La Famiglia. (more…)

Global trends, Hotnews, Insurance

August 31, 2017

241

PayPal launches its first cash back credit card to boost PayPal usage in stores

By Sarah Perez for TechCrunch

PayPal is today launching a new credit card, the PayPal Cashback MasterCard – its first card to offer shoppers direct cash back on purchases, instead of points that vary by category. The card, introduced in partnership with Synchrony Financial, will offer 2 percent back on purchases, with no annual fee, no minimum redemption amount, no restrictions on how to spend cash rewards, and no expiration, the company says. (more…)

eWallets, Global trends, Hotnews, Payment processors/providers/gateways

August 31, 2017

342

Singapore to develop common QR code for payments

Singapore is planning to develop a common QR code that will facilitate payments among different schemes, e-wallets and banks. (more…)

Banks, Government activities, Hotnews

August 30, 2017

UK challenger bank launches as proptech market hots up

Redwood Bank, a new challenger bank providing mortgages to small businesses and professional landlords, has opened its doors four months after it was granted a banking license. (more…)

Banks, Hotnews, Mobile-first banks

August 30, 2017

275

OCBC Keyboard lets customers make P2P payments without leaving messaging apps

By OCBC

Singapore’s OCBC Bank has launched an Android keyboard that enables customers to make peer-to-peer payments from within any app or mobile browser. (more…)

Fintech news

August 30, 2017

223

296

Kik raises $50 million ahead of token sale for its cryptocurrency Kin

By Venture Beat

Kik Interactive announced today that a token distribution event (TDE) for the sale of its cryptocurrency Kin will start September 12 at 6 a.m. Pacific time. Kik, a chat app with a community of 50 million monthly active users, is one of the first major examples of a non-blockchain business going to blockchain to open up new opportunities. (more…)

Blockchain, Cryptocurrencies

August 30, 2017

212

Thailand’s Kasikorn Bank backs cloud accounting startup in first deal for $30M fund

By Jon Russel for TechCrunch

Thailand’s banks have stepped up to chase the startup dream over the past year. Following on from SCB’s Digital Ventures, which has backed blockchain startup Ripple among others, Kasikorn Bank (KBank) has made the first investment from its $30 million fund — a $1.15 million round for Bangkok-based FlowAccount. (more…)

Banks, Global trends, Hotnews

August 30, 2017

Rumor: Online Lender Float Has Shut Down

Online lending platform Float has allegedly shut down. Crowdfund Insider has heard from several different sources the digital platform has called it quits. Earlier today, Crowdfund Insider attempted to contact the platform but no response has been forthcoming. (more…)

Global trends, p2p/online lending

August 30, 2017

288

Azimo launches cash pick-up service in the Philippines

By Azimo

Azimo, a digital disrupter of traditional money transfer services, extends its cash pick-up service enabling customers in the Philippines to collect money minutes after money transfer is made. (more…)

Global trends, Hotnews, p2p-payments

August 28, 2017

615

Mobile banking is shifting gears with PDS2

Mobile devices are the backbone of digital transformation, enabling new innovations such as smart cities and connected cars. (more…)

Mobile-first banks

August 28, 2017

355

Mizuho Bank employs IBM Watson to fight financial crime

Mizuho Bank, Ltd. (President & CEO: Koji Fujiwara) and IBM Japan, Ltd. (General Manager: Elly Keinan) today announced that Mizuho Bank begun to verify operations towards more advanced and efficient risk management by employing cognitive technology *1 to take measures against financial crimes such as terrorism financing that governments across the world urge financial institutions to regulate more severely. (more…)

Banks, Global trends

August 28, 2017

Latvian P2P Lender TWINO Adds Second Russian Originator

Latvian peer-to-peer lending platform TWINO has reportedly added a second Russian originator to its platform since its December 2016 launch. (more…)

Fintech news

August 28, 2017

295

Amazon brings cash option for the unbanked to UK

Amazon has brought a service that lets people top up their accounts by handing over cash at the physical locations of partner retailers to the UK. (more…)

Fintech news, Global trends

August 28, 2017

298

N26 Update: Challenger Digital Bank Now Has 500,000 Customers (Infographic)

Challenger digital bank, N26, announced this week it now has 500,000 customers. Founded in 2013 by Valentin Stalf and Maximilian Tayenthal, N26 claims to be Europe’s first mobile bank with a full European banking license and it has redesigned banking for the smartphone by making it simple, fast, and contemporary. (more…)

Hotnews, Mobile-first banks

August 28, 2017

The Next Big ICO? Unikoin Gears Up for Offering Next Month

For the moment, there is no stopping the hype swirling around the hot Initial Coin Offering market. Even the SEC’s comment that it expects ICOs that are deemed to be securities to file an exemption has just been a minor bump in the road. (more…)

Blockchain, Global trends, Hotnews

August 28, 2017

496

SaaS Fundraising In 2017

By Tomasz Tunguz from Redpoint Ventures

When I analyzed the SaaS fundraising market in 2016, three trends emerged. The number of SaaS companies raising rounds had stalled, while the total number of dollars plateaued. Meanwhile, round sizes swelled. In other words, there was a concentration of capital in an increasingly small number of names. A year later, those trends have continued to converge, and SaaS valuations have resurged, reaching their highs of the 2014-2015 boom. (more…)

Analytics

August 21, 2017

451

Simple lays off ten percent of staff in bid to return to tech roots

Joshua Reich, the CEO of US digital neo-bank Simple is pledging to return the business to its roots, having spent the past few years “acting like a bank instead of a technology company”. (more…)

Mobile-first banks

August 21, 2017

1111

Beyond Amazon and Alibaba: what’s next for e-commerce?

By TC

How do you outsmart an 800 lb gorilla?  E-commerce retailers in the two biggest markets – China and the U.S. – grapple with this question every day. (more…)

Fintech news, Global trends, Hotnews

August 21, 2017

461

N26 now has 500,000 customers for its bank of the future

By Romain Dillet for TechCrunch

Fintech startup N26 is getting more and more customers. The company reported 300,000 customers back in March. It now has 500,000 customers across Europe. (more…)

Global trends, Hotnews, Mobile-first banks

August 21, 2017

405

Alibaba leads $1.1b investment in Indonesia’s Tokopedia

Jack Ma’s Alibaba has led a US$1.1 billion investment in Indonesia’s Tokopedia, further accelerating the Chinese giant’s expansion into Southeast Asia. (more…)

Deals, Fintech news, Hotnews

August 21, 2017

425

Alipay connects with Yelp

By Yelp

Alipay, one of the world’s leading digital payment platforms, and Yelp Inc., the company that connects consumers with great local businesses, have partnered to bring Yelp’s local content to millions of Chinese travelers directly within Alipay’s mobile lifestyle app. (more…)

Hotnews, InspirAsia, Payment processors/providers/gateways

August 17, 2017

470

Prosper Progress: Online Lender Reports Strong Q2 Growth, Closes $500 Million Securitization

Prosper Marketplace, a leading marketplace lending platform, has reported improved numbers for the second quarter.  Prosper has shared that it generated positive operating cash flow for the quarter and originations rocketed up 74% year over year. (more…)

Fintech news, p2p/online lending

August 17, 2017