Amazon India is integrating its first small business lender via API into the Amazon Lending marketplace; India’s Flexiloans will allow...
Red envelope gifting is a Chinese New Year tradition that has become digitized as a result of advanced payment processing; the January 27 weekend marks the beginning of the Chinese New Year and the country is expected to transact over 100 billion digital envelopes, an increase from 32 billion in 2015 which reported a 1,000% increase from the prior year; payment processors integrated with social media have increasingly been gaining market share and supporting digital transaction growth; bitcoin transactions are also expected to increase for the Chinese New Year. Source
The China Banking Regulatory Authority has mandated that all P2P lenders work with a custodian; a month after the requirement was announced, the majority of industry platforms have still not partnered with a custodian; most Chinese custodian banks do not offer P2P custodian services so the partnerships require added deliberation and communication; a number of new regulations are affecting the industry and it appears Chinese custodian banks will have a significant impact on the future of the industry given the online lenders they choose to partner with for P2P custodian services. Source
At the Fintech Australia Collab/Collide 2016 event, Australia's Treasurer, Scott Morrison, cited an "enormous untapped potential" for data usage within the country's fintech industry; said the government was supportive of open aggregated financial data standards that would improve digital banking and finance solutions for consumers. Source
At Lang Di Fintech (LendIt's Chinese event), Peter Renton, the founder of Lend Academy, conducted an interview with ZhongAn Insurance CEO Jeffrey Chen; they talked about how the biggest insurtech company uses big data and artificial intelligence to measure risk, the scale of ZhongAn's business, regulatory issues and the future of the company; the article provides five key takeaways from the interview. Source
Hong Kong-listed Credit China FinTech Holdings led the launch of the fintech fund with 11 other partners that consist of central state-owned enterprises, provincial investment funds, trust and securities firms and private equity firms; financial gain was not the main motivation of the fund as the participants are looking at exposure to the emerging fintech space and possible partnerships in the future; "China's fintech sector was started later than the West's but is expanding at an unparalleled pace compared with the West," Credit China Executive Director Sheng Jia said at the opening ceremony. Source
One of India’s major banks, Federal Bank, has partnered with Ripple to create a blockchain based remittances product; India was...
Lend Academy talks with Greg Gibb, CEO and co-chairman of Lufax; Greg Gibb talks about the founding of the business as a P2P platform, its relationship with Ping An and how it has evolved to become a broader provider of wealth management product offerings; the podcast interview also discusses Lufax's future plans for international expansion and a potential IPO. Source
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
Bloomberg reports on Wins Finance Holdings (WINS) which currently has an inception to date return of 3,305% and is trading at $230; the Chinese company has a small business loan and equipment leasing business; the stock is in the Nasdaq Composite and reports the index's highest 12-month return; while the Chinese stock appears to be a little known discovery, its business financials are rather abstract; Bloomberg provides details on the company including information from its public reports which began with its 2015 Nasdaq listing. Source