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6 red flags of an ICO scam

By Deep Patel for Tech Crunch

ICOs have opened to the general public investments in blockchain ventures. In the third quarter of 2017 alone, ICOs raised more than $1.3 billion for crypto ventures — approximately five times more than funding raised through venture capital in the blockchain space. (more…)

Cryptocurrencies, Global trends, Hotnews

December 8, 2017

Chinese bike-sharing start-up Ofo raises $1bn

China’s bike-sharing start-up Ofo has raised $1bn from investors including Alibaba, according to two sources familiar with the deal. Ofo provides dockless GPS-tagged bikes which can be unlocked using a smartphone app. (more…)

Deals, Hotnews

December 8, 2017

112

Payoneer banks investment from China Broadband Capital

By Payoneer

Payoneer, an innovative digital payments company transforming the way businesses send and receive cross-border payments, announced today that China Broadband Capital (CBC), one of China’s leading investment funds, has made an investment in the company. (more…)

Deals, Hotnews, Payment processors/providers/gateways

December 6, 2017

121

Affirm Said To Eye $150M Capital Raise On $1.5B Valuation

Affirm Inc., an online lender, is reportedly in late-stage talks to land a new round of financing that would propel it to unicorn startup status. (more…)

Deals, Fintech news, Global trends, Hotnews, Payment processors/providers/gateways

December 6, 2017

100

Intuit’s ‘rise of the rest’ M&A strategy means large paydays outside the Valley

By Danny Crichton for Techcrunch

This morning, Frederic reported that Intuit has acquired TSheets, a time-tracking service, for $340 million. That’s one of the highest prices that Intuit has ever paid for an acquisition, roughly equal to the cost of the company’s acquisition of Mint Bills / Check in 2014, and slightly smaller than the acquisition of Demandforce in 2012 for $423 million (which Intuit has since divested in). (more…)

Deals, Global trends, Hotnews

December 6, 2017

Raisin grows banking panel to 40 as customer numbers rise to 100,000

Shortly before the end of the year, Raisin has reached two further important milestones: The total number of customers has grown to 100,000 and, in addition, Raisin has integrated more than 40 partner banks from 18 European countries. (more…)

Global trends, Hotnews

December 6, 2017

108

Hope grows that a larger SEC crackdown on ICOs is coming — and soon

By Connie Loizos for techcrunch

More than $3 billion has been raised through so-called initial coin offerings so far in 2017. Yet while numerous of these have already proven to be good old-fashioned scams, regulators in Washington have remained relatively quiet aside from warning issuers that at least some coins sold in ICOs could be considered securities; publishing a statement saying celebrity endorsements of ICOs may be unlawful without appropriate disclosures around compensation; and bringing two cases against fraudulent coin offerings. (more…)

Blockchain, Cryptocurrencies, Fintech news, Hotnews

December 6, 2017

Target launches mobile wallet

Following in the footsteps of Walmart and CVS, Target has become the latest American retail giant to launch its own mobile payments service. (more…)

eWallets, Fintech news, Global trends, Hotnews

December 5, 2017

R3’s Corda arrives on AWS Marketplace

By R3

Enterprise software firm R3’s Corda has become one of the first distributed ledger technology (DLT) solutions available to users of Amazon Web Services (AWS), enabling AWS’s network of users to build and deploy applications for finance and commerce on R3’s Corda. (more…)

Deals, Hotnews

December 5, 2017

WePay CEO On Chase Acquisition And What’s Next

“A couple of years ago, everyone was talking about integrated payments,” WePay CEO Bill Clerico told Karen Webster in a recent conversation. “Now people aren’t just talking about it – they are doing it and focusing in on it.” (more…)

Banks, Deals, Global trends, Hotnews

December 5, 2017

143

Deutsche Bank hops on WeChat

Deutsche Bank is looking to keep in touch with its Chinese-speaking customers by jumping onto WeChat, the social media giant with nearly a billion active users. (more…)

Banks, Deals, Fintech news, Global trends, Hotnews

December 4, 2017

Money app Yolt hits 100,000 UK users in less than six months

By Yolt

Yolt, the money app owned by ING, has reached 100,000 registered app users in less than six months of Open Beta in the UK. (more…)

Banks, Deals, Hotnews, Mobile-first banks, PFM/PFP services

December 4, 2017

149

Singapore October bank lending up 1.4%: MAS

SINGAPORE’S total bank lending in October climbed 1.4 per cent from September, on the back of higher loans to financial institutions. (more…)

Banks, Government activities, Hotnews

November 30, 2017

156

Singapore Exchange to overhaul clearing and settlement

By Singapore Exchange

Singapore Exchange (SGX) plans to make changes in the clearing and settlement of securities in the Singapore stock market. (more…)

Fintech news, Global trends, Hotnews

November 29, 2017

213

Nordea brings e-invoicing to Facebook Messenger

Nordea has collaborated with Nordic payments processor Nets on a service which enables consumers to post invoices and pay their bills via Facebook Messenger. (more…)

Banks, Fintech news, Global trends, Hotnews, SME

November 29, 2017

Digital Bank Revolut Prepares to Launch Cryptocurrency Features

Digital only challenger bank Revolut is preparing to enter the cryptocurrency world with new features on their bank app to allow users to exchange and use Bitcoin and other digital currencies. While some traditional banks look at crypto with disdain (heres looking at you, Jamie Dimon), Revolut is embracing the future and providing a service that users demand. For a traditional bank to incorporate a new feature like this it would take months, perhaps years, of internal discussion. This committee and that one would weigh in on the costs and benefits – to the detriment of actual action that would provide a service consumers want. This is not the case with an agile bank like Revolut. You just go and do it. (more…)

Blockchain, Cryptocurrencies, Global trends, Hotnews

November 29, 2017

126

WorldRemit Launches Digital Money Transfers to South Korea

Digital money transfer service WorldRemit announced on Sunday it has expanded its remittance service to South Korea. WorldRemit stated that its mobile-first, digital model allows hard-working migrants to send money to South Korea in a few taps, directly from their phones or through the WorldRemit website without the need to visit or stand in line at a bricks and mortar agent. (more…)

Hotnews, Remittances

November 28, 2017

122

Bank Negara approves InstaRem mobile app for easy money transfer

KUALA LUMPUR: InstaRem Malaysia Sdn Bhd, a digital cross-border payments company, sees Malaysia as a large market for its digital remittance services. (more…)

Banks, Deals, Global trends, Hotnews, Remittances

November 28, 2017

142

Fintech Singapore Vs Fintech Malaysia Infographic

By Vincent Fong for FintechNews.sg

It’s no secret that besides sharing a common history, Singapore and Malaysia has always shared a sense of rivalry with each other. The fact that both countries are actively vying for a piece of the fintech pie and their geographical promixity further fuels the rivalry between the two countries. (more…)

Global trends, Hotnews, InspirAsia

November 27, 2017

137

In Europe, cash still dominates at the POS

Cash still dominates at the point of sale in Europe, accounting for more than three quarters of all in store transactions in the euro area last year, according to an ECB study.

Read the full report: Download the document now 847.2 kb (Chrome HTML Document) (more…)

Fintech news, Global trends, Hotnews

November 27, 2017

425

Here’s How to Make Cryptocurrencies Attractive to Investors

By Dan Itkis, Co-founder of Graft Network for FinTech Ranking

Views will always differ when it comes to the reasons why Bitcoin and other cryptocurrencies, for all the success (mostly in pricing) they’ve collectively enjoyed, are yet to see mainstream adoption. Many industry experts, as well as experts from the traditional financial space, are likely to point at the instability in the values of cryptocurrencies, or digital currencies, as the main reason people are not embracing cryptocurrency en masse. You’re likely to get the same answer if you ask long-term investors why they shy away from investing in cryptocurrency. (more…)

Blockchain, Cryptocurrencies, Hotnews

November 24, 2017

190

Revolut hits one million user milestone

By Revolut

Revolut, the digital banking challenger, has today announced that it has signed up 1m customers across Europe and saved consumers over £120m in hidden fees as the innovative fintech continues to disrupt traditional banking. (more…)

Global trends, Hotnews, Mobile-first banks

November 24, 2017

203

Ant Financial bans high interest loans

Ant Financial has banned consumer loans with annual interest rates above 24% from its Alipay platform. (more…)

Global trends, Hotnews, SME

November 24, 2017

210

Tandem Bank unveils credit card

By Tandem

We’ve previously used the hyperbole of ‘big huge news’ during an earlier burst of, well, big huge news, and now we’re stuck for synonyms to announce anything else. (more…)

Banks, Hotnews, Mobile payments/banking

November 23, 2017

345

How Personal Loans Help People Improve Their Daily Lives

The good thing about people is that they always find a way to make life easy, which is exactly why the banking system exists. With banks, people can get loans and finance their various development projects even when they don’t have all the cash needed. For example, if you’re building or buying a home and you don’t have enough money to cover the expenses, you can get a loan or mortgage to finance your plan.

(more…)

Hotnews, p2p/online lending

November 23, 2017

166

Mobile payment and loyalty platform Yoyo Wallet integrates with Starling Bank

By Steve O’Hear for Tech Crunch

In another example of Starling Bank jumping on the Open Banking/PSD2 train before legislation in the U.K. and Europe next year will force banks to do so, it is launching its latest API partnership: this time with Yoyo Wallet, the U.K.-based mobile payment and loyalty platform. (more…)

Hotnews, Mobile payments/banking, Open Source/ API

November 23, 2017

183

Op Ed: “We Never Thought of That” — When Venture-Backed Companies Undertake Reverse ICOs

By  for Bitcoin Magazine

With well over $3 billion raised this year alone, in very little time initial coin offerings (ICOs) have emerged as a major source of venture finance. Even companies that have already raised conventional venture funding will be tempted to raise additional funds through ICOs. Although not fully intuitive, some have labeled token issuances by entities that previously obtained equity financing as “Reverse ICOs.” (more…)

Cryptocurrencies, Hotnews

November 22, 2017

134

BancoEstado and SumUp to launch mobile card acceptance in Chile

by SumUp

SumUp, the leading financial technology provider, and BancoEstado de Chile, the largest national bank of Chile, today announce the launch of a joint venture offering mobile card acceptance to small businesses. (more…)

Banks, Hotnews, Mobile payments/banking, POS/mPOS and online acquiring

November 22, 2017

158

Norway’s banks look to merge payment services

A group of Norwegian banks are preparing to merge their payments systems in an effort to protect themselves from an expected challenge from Silicon Valley. (more…)

Banks, Hotnews

November 22, 2017

208

DBS builds lifestyle branch for tech generation

Singapore’s DBS is bidding to attract the tech generation back into the branch via a new instore ‘lifestyle space’, featuring freshly-brewed coffee, humanoid robots, video tellers and virtual reality retirement planning. (more…)

Banks, Global trends, Hotnews

November 21, 2017