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206

ABN Amro introduces instant payments

By ABN Amro

Starting today, clients of ABN AMRO and a number of other European banks will be able to enjoy superfast transfers between the participating banks. (more…)

Banks, Fintech news, Global trends

November 24, 2017

189

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

190

Sensory Partners with Fujitsu to Bring Biometrics to Mizuho’s Mobile Banking

Fujitsu has teamed with Silicon Valley-based Sensory to provide face biometric authentication for Mizuho’s mobile banking, reports Antony Peyton of Banking Technology(Finovate’s sister publication). (more…)

Banks, Deals, Fintech news, Global trends

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

175

Grab raids Paytm for new CTO

By Grab

Grab, the leading on-demand transportation and mobile payments platform in Southeast Asia, today announced it has appointed Vikas Agrawal as Chief Technology Officer (CTO) for GrabPay, its mobile payments platform. (more…)

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

November 23, 2017

118

Ten years on: Seedcamp outs new £41M seed fund and says it’s ready to invest in tokens

By Steve O’Hear for TechCrunch

“The maturity of founders is just exponentially better and different from when we started in ‘07,” says Seedcamp co-founder and Managing Partner Reshma Sohoni. “[They are] so much more knowledgeable, so much more practiced in the art of starting up”. (more…)

Accelerators/Incubators/Labs, Fintech news, Global trends

November 22, 2017

HSBC names Google veteran as digital head

Mike Warriner, HSBC's chief information officer.

By Bryan Yurcan for American Banker

HSBC has named former Google engineering director Mike Warriner as the new chief information officer for its retail banking and wealth management digital division. (more…)

Banks, Fintech news, Global trends

November 22, 2017

202

DBS tasks Amazon Web Services with cloud training programme

By DBS

DBS Bank announced today that it is collaborating with Amazon Web Services (AWS) to further strengthen its technology talent pool by training them in cloud engineering skills. (more…)

Banks, Fintech news, Global trends

November 22, 2017

You can now send PayPal invoices through Facebook Messenger

PayPal users selling their old Lego bricks can now create and send invoices within Facebook Messenger. (more…)

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

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

106

Meniga signs deal with IberCaja

Meniga, the global leader in digital banking solutions, has announced today that it has signed an agreement with the Spanish banking giant, IberCaja. (more…)

Banks, Global trends, Hotnews

November 21, 2017

129

BNP Paribas picks Fenergo for client lifecycle management

Fenergo, the industry standard for Client Lifecycle Management (CLM) solutions for Corporate & Institutional, Business & Commercial, and Private Banks, has today announced a signed deal with BNP Paribas. (more…)

Banks, Fintech news, Global trends, Hotnews

November 21, 2017

Japanese pawn shop app Cash acquired for $62.2M by DMM

DMM, one of Japan’s largest Internet and e-commerce conglomerates, announced today that it will pay 7 billion yen (about $62.2 million) for pawn shop app Cash. Launched this summer, Cash’s software automatically appraises an item’s value based on user photos and offers a cash advance with it as collateral. (more…)

Deals, Fintech news, Global trends, InspirAsia, SME

November 21, 2017

155

PayPal sells US consumer loans to Synchrony Financial

By Paypal

PayPal Holdings, Inc. (NASDAQ: PYPL) and Synchrony Financial (NYSE: SYF) today announced an agreement to significantly expand their strategic consumer credit relationship. Under the terms of the transaction, Synchrony Financial will acquire $6.8 billion in receivables, including PayPal’s U.S. consumer credit receivables portfolio, which totaled approximately $5.8 billion in receivables as of October 31, 2017, and approximately $1 billion in participation interests in receivables held by certain investors and a chartered financial institution. (more…)

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

November 18, 2017

172

Singapore and Philippines ink fintech agreement

By MAS

The Bangko Sentral ng Pilipinas (BSP) and the Monetary Authority of Singapore (MAS) today signed a FinTech Co-operation Agreement (CA) to promote innovation in financial services in their respective markets. (more…)

Fintech news, Global trends, Government activities

November 18, 2017

227

Switzerland-Based Fintech Crealogix Announces Asia/Pacific Region Expansion

On Wednesday, Switzerland-based CREALOGIX announced it is expanding business actives in the Asia and Pacific region. The company reported that with this expansion it will be able to cooperate with established local partnerships, including business and tech financial service provider, Cognizant. CREALOGIX noted that in addition to regional retail banks and rising financial services providers, it also supports European private banks in the implementation of software solutions specifically for the Asian market. (more…)

Fintech news, Global trends, Hotnews, InspirAsia

November 18, 2017

176

Chinese Fintech Jianpu Sees Rise in Shares Following U.S. IPO Debut

Jianpu, a unit of Chinese fintech company Rong360 Inc, announced on Thursday the launch of its initial public offering of 22,500,000 American depositary shares (“ADSs”) at a price to the public of US$8.00per ADS for a total offering size of US$180 million. According to Nasdaq, the company experienced a rise as much as 3.8 percent in shares after making its U.S. market debut. (more…)

Fintech news, Global trends

November 18, 2017

186

Kabbage Announces New $200 Million Asset-Backed Revolving Credit Facility With Global Financial Institution Credit Suisse

By Samantha Hurst for Crowdfundinsider

Kabbage Inc., a global financial services, technology and data platform serving small businesses, announced on Thursday its new $200 million asset-backed revolving credit facility with Credit Suisse, a global financial institution. This news comes less than a month after Kabbage announced it and ING were extending its strategic partnership with Italy and France. (more…)

Global trends, p2p/online lending, SME

November 18, 2017

226

Monetary Authority of Singapore Publishes Guidance on Initial Coin Offerings

The Monetary Authority of Singapore (MAS) has published a document providing guidance on Initial Coin Offerings (ICOs). Entitled “a Guide to Digital Token Offerings,” the document seeks to clarify when an ICO is in fact a security, and thus regulated and the application of securities laws.  MAS published a statement in August warning issuers and offering platforms that ICOs may be regulated in an approach similar to the US SEC. The statement was followed with a warning to investors to be cautious in backing tokenized offerings. (more…)

Banks, Global trends, Government activities, InspirAsia

November 16, 2017

Square Now Letting Some Users Buy & Sell Bitcoin Through Cash Mobile App

Financial service company Square is reportedly now testing out bitcoin on some of its Cash mobile app users. The new feature will allow users to buy and sell the cryptocurrency through the app.  (more…)

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

November 16, 2017

188

Klarna and PPRO team up for credit payments in Europe

PPRO Group, the leading cross-border e-payment specialists and Klarna, one of Europe’s largest banks, will partner to enable Payment Service Providers (PSPs) to offer credit-based payments through PPRO’s payment hub to European merchants, risk-free. (more…)

Global trends, Payment processors/providers/gateways

November 16, 2017

140

AI implementation in AML at HSBC sees a considerable reduction in compliance costs

Current AML Techniques

In today’s world, we tend to combat money laundering efforts with regulation-based account surveillance and ordinary KYC systems, when in all honesty these techniques will not hold up in the ever-changing world of financial delinquency. For one, the Risk Based Approach (RBA) used by financial institutions for AML compliance purposes causes a high rate of false positives. (more…)

Banks, Global trends, Hotnews, Open Source/ API

November 16, 2017

139

Online Lender Lendix Launches Flexible SME Bridge Loans in France, Spain & Italy

Lendix, online lender for SMEs in continental Europe, has announced the launch of a new financing product: the Flexible Bridge Loan. This product is designed to will allow a greater number of French, Spanish and Italian SMEs to benefit from the speed of execution of Lendix’s lending platform while leaving them the possibility of setting up an overall refinancing solution with other financial institutions. (more…)

Fintech news, Global trends, p2p/online lending

November 16, 2017

InvestCloud adds financial apps to digital platform

By InvestCloud

InvestCloud Inc., a global FinTech firm, has released two new lines of financial apps to run on its digital platform. (more…)

Banks, Fintech news, Global trends, Wealth management

November 16, 2017

Fidelity latest financial firm to facilitate data sharing with fintechs

By Penny Crossman for American Banker

Fidelity Investments is joining the ranks of financial firms sharing customer account data with others through an application programming interface. (more…)

AI / Machine Learning / Big Data, Banks, Fintech news, Global trends

November 14, 2017

191

Why ICO Landscape Has Shifted From ‘Bootstrapped’ Projects

By Nick Ayton for Cointelegraph

With 75% of ICOs now failing the reach their soft cap, the entire market has changed direction. This may also squeeze out the scammers and raise the bar beyond pure start ups entrepreneurs… (more…)

Blockchain, Cryptocurrencies, Fintech news, Global trends, Hotnews

November 14, 2017

176

Report: Apple is back to being the world’s top wearable maker

By Jon Russel for TechCrunch

Apple is once again the biggest selling producer of wearables after its third-generation Apple Watch, released in September, helped it pip China’s Xiaomi to the post. (more…)

Fintech news, Global trends, Hotnews

November 14, 2017

143

UOB first in Asia with Fitbit Pay

United Overseas Bank’s (UOB) cardmembers will be the first in Asia to be able to make Fitbit PayTM contactless payments through the new Fitbit IonicTM smartwatch. (more…)

Banks, Bots, Fintech news, Global trends, InspirAsia

November 14, 2017

224

62 Insane Facts About Bitcoin – Infographic

Bitcoin is a virtual currency that uses Blockchain technology for secure payments and storing money electronically, without requiring a bank or a person’s name. Satoshi Nakamoto created this cryptocurrency back in 2009. The biggest advantage of Bitcoin is that it’s not under control of central authority, government or private company, so people are free from paying transaction fees. It can be used for booking a hotel or flight, or purchasing products online, as many online stores and companies accept Bitcoin now.

(more…)

Blockchain, Cryptocurrencies, Fintech news, Global trends, Hotnews

November 14, 2017

158

SoFi Completes Largest Consumer Loan Securitization to Date

On Friday, SoFi announced it has completed a $727 million issuance of SoFi Consumer Loan Program 2017-6 (“SCLP 2017-6”) notes, making it the largest offering of securities backed by consumer loans and is SoFi’s 11th ABS transaction this year, bringing the lender’s total issuance for 2017 to $6.1 billion.  (more…)

Global trends, Hotnews, p2p/online lending

November 13, 2017