Recently, local governments in China have launched pilot programs for foreign investments; Qualified Domestic Limited Partner (QDLP) was launched in 2013 in Shanghai which has since expanded to other cities; the Qualified Domestic Investment Enterprises (QDIE) launched in Shenzhen; both require a formation of an onshore fund in one of the pilot cities; Mondaq outlines more details of these programs including differences of the programs and other requirements in their recent article. Source
Alibaba payment affiliate Ant Financial has announced the acquisition of helloPay; the company is based in Singapore and will help support Alipay's strategic growth initiatives in Southeast Asia; its primary payments focus is on serving e-commerce platforms; helloPay will be rebranded as Alipay following the acquisition. Source
The CEO of NITI Aayog, a policy think tank of the Indian government, said that the fintech market in India...
Global financial transfers were more than $20tn in 2019 and are expected to hit $30tn by 2022, yet 60 percent...
Loose credit and consumers who are no longer averse to loans have contributed to the rise in household debt as a share of GDP; numbers have risen from 28% to 40% in the last five years; the share of household loans to overall lending hit 67.5% in the third quarter of 2016, more than twice the share of the year before; China's household debt as a share of GDP is half of what it is in the US, though if the current pace continues it will come close to equaling the US percentage in a few short years. Source
The company plans to shut down all operations in Japan by end of June 2018; overseas Japanese investors who use domestic banks will still have access to trading activities in the local market; cost and resources were the main drivers behind the decision. Source.
In an opinion article, one investor shares emails that have been leaked at Chinese marketplace lender Yirendai (NYSE: YRD); leaked emails show the company's chairman requiring parent company employees at CreditEase to invest in a fund to purchase undisclosed US equities; the author states the fund is likely purchasing shares of YRD and presents his case for shorting the stock; the stock recently saw volatility following China's new regulatory guidance for P2P lenders. Source
Afterpay comes to physical stores in the US How Retailers Are Cashing In On A US Coin Shortage Google to...
The new partnership aims to increase access to financial services for individuals and small businesses; according to a Chinese press release translated by TechNode, the "credit factory" (in Chinese) model is a business model mainly used for credit certification of small and micro-sized enterprises as well as individuals; loans lent to such groups are small, but are lent at high frequency; the adoption of the "credit factory" mode, thanks to its high efficiency and economies of scale in handling petty loans, can help big financial firms gain some ground lost to the country's mushrooming small loan companies in the microfinance market; an upgrade to the traditional "credit factory", Dianrong-Quark Credit Factory utilizes such fintech means as big data, anti-fraud management systems and decision engine; it can help lenders reduce manual operations, save costs and cut operational risks through its powerful quantitative system when they handle credit certification for individuals or small and micro-sized businesses. Source
RateSetter now has over 2,000 broker dealers supporting loan originations on its platform with loans from the intermediaries doubling approximately every six months; top reasons for the borrowing from this channel include vehicle loans, home improvement and debt consolidation; firm has also lent $150 million since its launch in 2014. Source