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Asia/Pac

·Aug. 21, 2017

Lufax Becomes Profitable Ahead of Planned IPO

Ping An Insurance Group's online lender Lufax reported that it is now profitable and is hoping to keep that trend for the rest of the year; "Lufax's development is extremely robust. It actually turned around in the first half. We are very confident that it could stay profitable for the full-year," said Jessica Tan Sin-Yin, Ping An's chief operating officer and chief information officer, during the Chinese insurance group's earnings announcement; Lufax is the largest P2P lending platform in China with $225 billion of outstanding loans; according to their latest funding round in January the company is valued at $18.5 billion with 43% being held by Ping An; the company is planning to go public soon and according to CEO Gregory Gibb they have done a lot of homework for Hong Kong ahead of the potential listing. Source

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Asia/Pac Fintech News Roundup

·Aug. 8, 2017

China’s Central Bank Now Has Fintech on Its Mind

The People's Bank of China says in a report that it is considering expanding its risk-assessment system beyond banks to include major online financial businesses; the Wall Street Journal comments that China's central bank is increasing its monitoring of the loosely regulated fintech sector. Source

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Asia/Pac News Roundup Online Lending

·Feb. 24, 2017

Australian Companies Afterpay and Touchcorp Announce Merger

Afterpay and Touchcorp are merging to form NewCo which will provide an advanced solution for merchant network installment payments; Afterpay has steadily grown its merchant network which pays a 4% fee for the installment service; Touchcorp will help provide advancements in payments technology for Afterpay and the integrated services will allow for broader expansion. Source

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Asia/Pac News Roundup Online Lending

·Dec. 13, 2016

India’s Indifi Raises $10mn

Indian online multi-lender Indifi has raised $10 million in a Series B funding round led by Omidyar Network; the multi-lender specializes in connecting micro, small and medium-sized businesses with a network of lending institutions; the firm intends to use the funds for expanding and improving its products and technology. Source

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Asia/Pac News Roundup Online Lending

·Jan. 4, 2017

India’s Demonetization Continues to Support Increased Investment in Alternative Finance Lenders

India's demonetization of the Rs 500 ($7.32) and Rs 1,000 ($14.65) continues to help online alternative finance lenders; uncertain investors are increasingly utilizing alternative finance platforms as a safer investment over gold, real estate and the stock market; invoice financing platform KredX has reported investment increases of 400% to 500%; with less of a cash focused society, P2P lenders Capital Float, Faircent, i-lend and AnyTimeLoan.in have also reported significantly higher platform investments. Source

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Secure Online Payment Processing Concept - Innovation in Fintech - Financial Technology - Making Secure Payments Online - 3D Illustration

Asia/Pac

·Oct. 12, 2022

What crypto winter? Digital asset tokenization a $16-trillion business opportunity

A new report predicts digital asset tokenization will be a $16.1-trillion business opportunity by 2030.

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Asia/Pac Fintech News Roundup

·Dec. 29, 2016

Throwback Thursday: Ant Financial’s PDF Slide Deck from Its June 2016 Investor Day

Ant Financial Services Group is focused on serving small and micro enterprises as well as consumers. With the vision "to turn trust into wealth," Ant Financial is dedicated to building an open ecosystem of internet thinking and technologies while working with other financial institutions to support the future financial needs of society. Businesses operated by Ant Financial Services Group include: Alipay for payments, Yu'e Bao for money market services, Ant Fortune for wealth management, Ant Check Later and Ant Micro Loans for financing, Zhima Credit (formerly Sesame Credit) for credit reference, Zhao Cai Bao for online lending and MYBank for small business lending. Source

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Asia/Pac Europe Fintech News Roundup USA

·Aug. 3, 2020

More News for August 3, 2020

For What Future Are We Building Bitcoin? Working to understand Affirm’s reported IPO pricing hopes State regulator group, others back...

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Asia/Pac Finance News Roundup Regulation

·Nov. 11, 2016

The Economist Rates Financial Inclusion Regulation Worldwide

The Economist magazine's intelligence unit (EIU) has published a report on regulatory support for financial inclusion in developing countries and it is now gaining traction with press and analysts; the report scores countries on having an inclusiveness strategy and building governmental and private sector expertise, then provides in-depth details in areas including credit markets, non-regulated lenders, payments and insurance; Colombia ties Peru this year for the most progressive country; India has shown the most improvement; Latin America and East/South Asia are leaders regionally while Africa and the Middle East remain behind; the EIU performed the research in conjunction with the Center for Financial Inclusion at Accion and the Multilateral Investment Fund at the Inter-American Development Bank. Source

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Asia/Pac Fintech News Roundup

·Dec. 28, 2016

CreditEase Wealth Management Wins Best Non-Bank Private Wealth Product Award

The Asian Banker has awarded CreditEase Wealth Management with its first Best Non-Bank Private Wealth Product award; the award was part of the Asian Banker's awards program which has been recognizing financial services companies for 16 years; voting was done by an advisory board using detailed criteria to identify the non-bank with the best solutions for meeting the needs of high net worth customers by matching their risk profiles and investment objectives; CreditEase's CEO Ning Tang said its wealth planners focus on cross-border, cross-regional portfolios with multi-asset classes for clients and that its Toumi RA robo advisor service was created to help clients evaluate and minimize risks with a scientific portfolio. Source

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