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2004

How fintechs are revolutionizing the customer onboarding process

via Finextra

As per a recent CNBC report (1), In US, fintech companies accounted for 38 percent of all US personal loans in 2018. That’s a revolutionary growth from just 5 percent in 2013. On the other hand, traditional banks’ share of these loans has fallen down to a mere 28 percent that used to be 40 percent in 2013.

Fintechs are surely heading in the right direction and are proving to be real challengers to incumbent banks. One of the biggest factors that differentiate fintechs from traditional banks is that they do not carry a burden of multiple legacy systems that banks often struggle to get rid of. Fintechs have been able to adapt to latest technologies and processes much faster than the banks. Apart from that, banks live with huge silos like silos within different lines of businesses, amongst various channels and even processes. Fintechs being smaller in size leverage data or experiences in one part of the company in the other part much more effectively. (more…)

Fintech news

March 19, 2019

2338

In China, Traditional Banks Fight Challenge From Internet Firms

By Saibal Dasgupta for Voa News

China’s online finance companies, including Alibaba and Tencent, are competing fiercely with China’s traditional banks, which are adapting to the new marketplace. (more…)

Banks, China, Global trends, Government activities, InspirAsia

May 5, 2016

2928

Alibaba advances: How China is using fintech to take control of global trade

By Ian Allison for International Business Times

The global fintech ecosystem has been presented like the board game Risk, with banks, fintech startups, traditional IT providers and GAFA companies (Google, Apple, Facebook, Amazon), distributed at each corner slowly advancing. As apt as the Risk analogy is, it tends to miss out the most important geopolitical force on the board: China.

(more…)

Fintech news, Global trends, InspirAsia, news

April 27, 2016

2548

You don’t know who the world’s largest fintech startup is

By Ian Kar for Qz.com

The world’s largest fintech startup is AliPay, the digital bank company that split from e-commerce giant Alibaba in 2011. (more…)

Fintech news, InspirAsia

April 1, 2016

Alibaba’s wallet app to give away $120m in live TV tie-up

By Steven Millward for TechinAsia.com

Alibaba and its mobile wallet app Alipay will give away US$120 million to viewers of the Chinese New Year TV extravaganza in China on February 7. (more…)

Cashless, China, Fintech news, InspirAsia, p2p/online lending

February 10, 2016

1442

China’s P2P lending crisis: second major bank pulls support for payment to P2P lending sites

By C.Custer for TechinAsia.com

On Monday, I wrote that the high-profile Ezubao Ponzi scheme case was likely to have a negative impact on China’s entire P2P lending industry. It looks like that’s already happening. On Wednesday, Sina Tech reported China Merchants Bank has notified third-party e-payment platforms that starting Friday, it will no longer support payments to P2P lending services. (more…)

China, Fintech news, InspirAsia, p2p-payments, p2p/online lending

February 4, 2016

1962

Alipay data reveals why Shanghai is China’s greediest city

We knew that Alibaba was having a big year for mobile when sales via mobile made up nearly 70 percent of the company’s Singles Day haul. But now with the year over, Alibaba’s finance arm Ant Financial has released a bunch of interesting data on Alipay, Alibaba’s online payment platform, throughout 2015. The biggest headline: a full 65 percent of the money exchanged on Alipay in 2015 was sent via mobile. That’s up significantly from 2014, when mobile accounted for just under 50 percent of Alipay’s total business. (more…)

Analytics, Cashless, eWallets, Fintech news

January 26, 2016

1406

Deals: JD Finance Lands $1B Led By Sequoia China At $7.1B Valuation

Alibaba isn’t the only e-commerce service in China with a financial services arm capable of raising large amounts of external funding. While Alibaba’s Ant Financial raised an undisclosed round last summer at a colossal $45-$50 billion valuation, its rival e-commerce giant JD.com’s money-focused unit is also in the money after it took in RMB 6.65 billion (around $1.01 billion) from a clutch of high-profile investors. (more…)

Deals, Fintech news

January 17, 2016

2328

POS-Acquiring In Asia

TechInAsia: Mumbai-based startup MSwipe fills the gap with a hassle-free POS device which can work with any mobile phone. Yes, even brick phones. Plug it into the phone’s audio jack, launch the application, and you have a card reader ready to swipe.

(more…)

China, Deals, India, InspirAsia, POS/mPOS and online acquiring

July 22, 2015

1757

Magic Caves of Alibaba

TECHINASIA: Alibaba’s spin-off finance subsidiary, Ant Financial, today put out a major new update to its Alipay mobile wallet app. For the first time, the mobile wallet now has ecommerce merchants and shopping baked right into the app. It means that within Alipay, which is China’s top mobile wallet service with over 400 million annual active users, people can now find local services like fresh flowers or food delivery – and then pay for it all in the same app. As in Alibaba’s other marketplaces, all the things are from third-party sellers.

(more…)

China, eWallets, Fintech news, InspirAsia, news

July 8, 2015

1684

How Widely-Accepted Are Mobile Payment Methods In China’s Brick-And-Mortar Shops?

TechInAsia: Mobile payment methods like Alibaba’s Alipay and Tencent’s Tenpay account for a huge portion of China’s online transactions. But do these new payment methods have the same kind of traction on offline shops and restaurants? Chinese tech news site Techweb recently conducted a survey of 1,607 businesses on a busy pedestrian street in Wuhan to find out. (more…)

China, InspirAsia, Mobile payments/banking

June 30, 2015

2558

What Does Asia Have To Offer Against Square?

TechInAsiaVladislav Solodkiy, Life.SREDA VC: Last week Jack Dorsey, co-founder and CEO of Square, the world’s third largest fin-tech company by market capitalisation, also took a role of iCEO at Twitter. On top of that, a new wave of rumours about the company to go public by the end of this year hit the media. What do the Asian markets have to offer in respond to this? (more…)

Fintech news, InspirAsia, news, POS/mPOS and online acquiring

June 23, 2015

1681

E-Commerce Gold Rush In Southeast Asia

TECHCRUNCH: There’s a myopia blinding e-commerce players to the reality of opportunities in Southeast Asia. Everyone is looking at Asian economies from under the shadow China casts on the economic landscape, which can’t help but obscure the picture. (more…)

China, InspirAsia

June 22, 2015

1961

Alibaba Launches Market To Shoppers Services Via Mobile App

THE PAYPERSAlibaba Group has recently introduced a mobile app, Miao Street, that can help stores market to shoppers services, provided that stores accept Alipay payment method. (more…)

China, InspirAsia

May 14, 2015