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570

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

684

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

2856

The ‘next Alibaba’ has a B2B2C business model

By David Rowan for the Wired.co.uk

At the IngDan Experience Center, in the Geosciences Research Centre in Shenzhen’s Nanshan District, you can play with smart diapers, the USENSE badminton swing sensor and Coolpeds motorised luggage. (more…)

About, China, Fintech news, Global trends

March 18, 2016

1525

A guiding star in the world of start-ups

ASIAONE: It was all mapped out in the stars. Ms Jenny Lee was transported from a sheltered life in Toa Payoh to New Zealand as a 14-year-old Girl Guide on her first trip outside of Singapore. She spent four weeks there in all but it was one week of camping that gave her an epiphany.

(more…)

China, InspirAsia

July 5, 2015

1513

Boom Of Taxi Apps In Asia

E27.CO: GrabTaxi from Singapore is about to get US$200 million in fresh capital, pegging its valuation at US$1.5 billion. It quotes “a person familiar with the situation”, who has shared that the round is being led by US hedge fund Coatue Management LLC. The source also mentioned that existing investors SoftBank and Tiger Global Managementare also going to participate in the round. GrabTaxi’s last funding, a then record-breaking US$250 million round, happened just seven months ago in December 2014. Read the full article (more…)

India, InspirAsia, Singapore

July 1, 2015

1636

Tesla, Xiaomi top MIT’s list of world’s smartest companies

VentureBeat: The MIT Tech Review has compiled a list of the 50 “smartest” companies in the world. Elon Musk’s Tesla Motors tops the list, while the Chinese mobile and wearables upstart Xiaomi comes in second. (more…)

Influences FinTech

June 24, 2015

Xiaomi Boosts Its Business In India With Strategic Investment From Tata Sons Head

TECHCRUNCH: Xiaomi is making a push to be a local player in India. Days after unveiling its first phone customized to the South Asia country (the impressive $205 Mi 4i), Xiaomi announced that it has taken investment from leading Indian businessman Ratan Tata. (more…)

India, InspirAsia

April 27, 2015

Xiaomi-backed P2P loans startup Jimubox secures $84M series C funding

TECHINASIA:  Peer-to-peer lending startup Jimubox has just secured $84 million in series C funding. It comes seven months after the Beijing-based firm attracted US$37 million from Xiaomi and ShunWei Capital, a venture capital fund headed by the phone maker’s founder, Lei Jun. (more…)

China, Deals, InspirAsia, p2p/online lending

April 23, 2015

Xiaomi’s Smart Strategy to Design Phones for Everyone

WIREDHugo Barra had  a pretty good job—I mean, assuming you consider building the most popular mobile platform in the world to be a pretty good job. As global product lead at Google Mobile and then at Android, Barra served near the top of a division that essentially built an industry-defining business from scratch. A prominent spokesperson, he came to be personally identified with Android’s global domination. So when he left Google in September 2013 for Xiaomi, a scrappy Chinese phone manufacturer that was best known for its CEO’s slavishly Steve Jobs–aping  keynotes, the popular reaction fell somewhere between bemused and befuddled. Some wondered if a widely reported love triangle involving Barra’s girlfriend and Sergey Brin was to blame. The phrase “little known outside of China” seemed to come up a lot. (more…)

China, InspirAsia

April 21, 2015

1282

Xiaomi To Offer Financial Services Direct Through Its Smartphones

Channel NewsAsia: Xiaomi has added a function that allows users to buy money market fund offered by mutual fund manager Efund. The service competes directly with similar products offered by Alibaba and Tencent. (more…)

China, Fintech news, InspirAsia, news

March 17, 2015