Oldest

Asia/Pac

Asia/Pac News Roundup Online Lending USA

·Apr. 3, 2017

China Rapid Finance Files for US IPO

Chinese online lender China Rapid Finance has filed for a US IPO and plans to list its stock on the New York Stock Exchange with symbol XRF; the firm plans to raise $100 million; it is working with investment banking underwriters Morgan Stanley, Credit Suisse and Jefferies on the IPO. Source

Read Full Story

Asia/Pac News Roundup Online Lending

·Apr. 4, 2017

Anatomy of a Fast Growing P2P Fintech Disruptor in Emerging Asia

The China market is bigger than the US and they tend to move much faster; Emmanuel Daniel of The Asian Banker compares China today to 1971-1984 in the US when regulation was just beginning to be put in place; Credit China is an example of a successful P2P lender in China, now valued at $3 billion; Yew Kiat Phang speaks about the company, sharing how they initially were a traditional lender, constrained by capital and customers with single revenue streams; the company took a broad approach to fintech, first obtaining a third party payment license; company reported $12 billion in 2016 on their P2P lending platform; their payment gateway saw $30 billion in flow for 2016; Yew Kiat Phang shares other details on the company in the video. Source

Read Full Story

Asia/Pac News Roundup Online Lending

·Apr. 4, 2017

China’s Outstanding P2P Loans Continue to Increase in March

China reported outstanding P2P loans of Rmb 920 billion ($133.5 billion) at the end of March, according to data from Wangdaizhijia; the March data shows resiliency in the industry despite new requirements for P2P lenders and caps on lending from regulators; P2P platforms have been steadily decreasing following the industry's reform, with approximately 2,281 platforms in March; yields on P2P loans have also been trending lower, with the average yield at 9.4% in March. Source

Read Full Story

Asia/Pac Fintech News Roundup

·Apr. 6, 2017

Singapore Fintech Startup Announces $600,000 Fundraising

soCash has raised $600,000 in an angel funding round; firm offers a digital cash management solution for banks that plugs into its mobile app and directs cash for pickup at a nearby location; plans to use the new funding to build out its sales team and says the service can provide considerable cost savings for banks by helping to eliminate ATMs. Source

Read Full Story

Asia/Pac News Roundup Online Lending

·Apr. 6, 2017

Tradeshift Announces Partnership with CreditEase for Financing App

Tradeshift operates a marketplace for businesses, allowing them to manage supply chain buying and selling; through the partnership with CreditEase, the two firms will develop a financing app that will facilitate lending to Chinese businesses on the Tradeshift platform; according to Tradeshift, the new app will provide a peer-to-peer financing option for hundreds of thousands of China-based exporters. Source

Read Full Story

Asia/Pac Fintech News Roundup

·Apr. 7, 2017

Regulator Discusses Blockchain Standards for China

Huo Xuewen, secretary of Beijing's Municipal Bureau of Finance, discussed potential standards for blockchain in China in a recent speech; Xuewen is a proponent of blockchain and says the country should implement a standardized approach for its development; the government's current focus is on regulatory standards for bitcoin investments and trading; Xuewen says the country can do more with blockchain across all industries. Source

Read Full Story

Asia/Pac Fintech News Roundup

·Apr. 10, 2017

Aadhaar-Based Payments System Set to Launch in India

Starting on April 14th consumers in India will be able to use their Aadhaar ID number to make payments; in theory this could replace payment services like PayTM and debit and credit cards; the Aadhaar Payments System (APS) will allow consumers to use their fingerprints to complete a transaction so long as they have an APS linked bank account; the system is not without drawbacks as there are privacy concerns and the entire system is based around data protection; this does fit in with Prime Minister Narendra Modi's move to a cashless society, though it remains to be seen how everyday consumers will utilize it. Source

Read Full Story

Asia/Pac News Roundup Online Lending

·Apr. 10, 2017

P2P Finance Association Established in China

The National Internet Finance Association has announced the establishment of a P2P Finance Association; the Association will be led by the People's Bank of China, China Banking Regulatory Commission, China Securities Regulatory Commission and the China Insurance Regulatory Commission; the Association will seek to improve the industry and promote its development. Source

Read Full Story

Asia/Pac News Roundup Online Lending

·Apr. 11, 2017

CBRC Issues New Guidance Regarding P2P Lending in China

The China Banking Regulatory Commission (CBRC) has issued a new guidance document titled, "Guiding Opinions on Risk Prevention and Control in the Banking Sector"; the document targets banking institutions and their risk prevention efforts related to internet finance businesses; it focuses on ten types of high priority risks and emphasizes the requirement that P2P lenders partner with a custody bank; in addition to further details on broad market rectification it also includes emphasis on student lending and microloan businesses. Source

Read Full Story

Asia/Pac News Roundup Online Lending

·Apr. 12, 2017

MoolahSense Adds Invoice Financing Product

Singapore-based marketplace lender MoolahSense has added invoice financing; the service will provide another lending product for businesses; the firm's CEO says the product is intended to extend the business services it provides to underserved small businesses; the product will be available for short-term capital needs of up to $15,000 and is expected to target returns of 12% for investors. Source

Read Full Story