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3643

Bengaluru-based neo-banking startup NiYO raises $35 million in series B round

via The Indian Wire

NiYO Solutions, a Benglauru-based neo-banking startup has raised $35 million in a Series B funding round. The round was led by Horizons Ventures and Tencent. While, the company’s existing investor JS Capital also participated in the funding round.

The company plans to use the funding to accelerate the development and rollout of new product offerings. It will also use funds to amplify distribution and marketing. (more…)

Banks, Deals, India, InspirAsia

July 10, 2019

559

Hong Kong Issues More Online Banking Licenses

via PYMNTS

The banking regulator in Hong Kong has issued an additional four online-only banking licenses to Ping An, Alibaba, mobile phone maker Xiaomi and a joint venture (JV) consisting of Tencent, ICBC and Hillhouse Capital.

Reuters is reporting that this totals eight total licenses handed out by the government.

The Hong Kong Monetary Authority, which handed out the licenses, expects the banks to launch in about six to nine months. The new ventures would be closely regulated, with special attention given to customer reactions and the response of the banking industry. (more…)

Banks, Hong Kong, InspirAsia, Mobile-first banks

May 9, 2019

671

Chase On Gen Z, Mobile Banking — 10 Years In

via PYMNTS

With more consumers than ever interested in fulfilling all their financial needs on mobile, both legacy banks and FinTech firms are focusing on creating digital-only banking services, designed to catch and keep customers using their smartphones to bank. What’s more, financial institutions (FIs) and payment providers around the world are trying their hand at providing all the capabilities of an established bank on the smartphone.

As consumers flock to banking apps, succeeding in the world of digital banking is not as easy as it used to be when mobile apps emerged a decade ago. In the new Digital Banking Tracker™, PYMNTS examines how startups are competing with legacy brands, social media services and even eCommerce companies that want to add financial capabilities to their platforms. (more…)

Analytics, Banks, Mobile-first banks

April 10, 2019

1506

China’s Tencent seeks additional loan worth $2 billion: sources

By Reuters

China’s Tencent Holdings Ltd is seeking a loan of up to $2 billion, part of a flurry of fund-raising by the country’s Internet giants, two people involved in the financing told Thomson Reuters LPC, a loan-focused news service. (more…)

China, Global trends, InspirAsia, p2p-payments

April 15, 2016

2051

WeChat is building its own Slack

By Eric Crouch for TechinAsia,

Tencent, the company behind China’s wildly popular messenger/digital wallet/everything app WeChat, is planning to launch a new messenger aimed at office workers – and Slack had better watch out. (more…)

China, Fintech news, Global trends

March 12, 2016

2650

Why China’s fintech will change how the world thinks about banking

By Zennon Kapron for Forbes

With digitalization and FinTech high on the banking agenda, the disruption of financial services looks like a given. The question, however, is where will the real change come from. Will it be blockchain, real-time settlement, the highly competitive payment space, crowdfunding, or P2P lending? (more…)

Analytics, Fintech news, news, SME

March 2, 2016

1541

WeChat is 5 years old. Here’s how it’s grown

By Steven Millward for techinAsia.com

WeChat was born five years ago today. Here’s our potted history of China’s most essential app. (more…)

Fintech news

January 21, 2016

1385

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

7006

4 BEST CASES OF O2O-ECONOMY: BURBERRY, LINE, TESLA, CHEBANCA!

By Igor Pesin, Partner at Life.SREDA

(more…)

Columns, Fintech news, news

October 19, 2015

2355

WeChat, Line And Viber As Newcomers In Fintech

TechInAsia: WeChat censorship report: 1.5% of posts get censored. WeChat is China’s hottest social media app. But like internet services in China, discussion on WeChat isn’t entirely free – it is censored by Tencent in accordance with Chinese law. Just how censored is WeChat, and what exactly is being hidden from view? Those questions are the subject of an exhaustive new report from the University of Toronto’s Citizen Lab on WeChat censorship. (more…)

China, Fintech news, InspirAsia, news

July 29, 2015

1623

Singapore’s Fintech

E27.CO: Singapore-based real-time financial monitoring app Call Levels is raising a US$500,000 bridge round to spur growth, e27 has learned. The round, which is still open but partially committed, is expected to close in the coming weeks. (more…)

Deals, InspirAsia, Singapore

July 3, 2015

1624

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

2349

China Pouring Money Into America’s Hottest Startups

TechCrunchJD.com has become the latest internet company in China to venture into the consumer credit space, after the NASDAQ-listed online retailer — a rival to Alibaba — launched a joint venture alongside LA-based financial services company ZestFinance. (more…)

China, InspirAsia

June 26, 2015

Chinese Users Can Now Book And Pay For Karaoke Sessions Inside WeChat

TECHINASIAChina’s wannabe pop stars can now subject their friends to drunken renditions of Jay Chou tunes without carrying cash. WeChat, the popular messaging app owned by Tencent, announced yesterday it will incorporate karaoke services from inside the app. (more…)

China, Fintech news, InspirAsia, Mobile payments/banking, news

April 10, 2015

2057

WeChat Now Has 500 Million Monthly Active Users

TECHINASIA: Messaging app WeChat now has 500 million monthly active users (MAUs), parent company Tencent revealed today. The new figure for Q4 2014 is up from 468 million in Q3 last year, and up from 355 million at the end of 2013. (more…)

China, Fintech news, InspirAsia, news, p2p-payments

March 18, 2015