What Banking For The Unbanked Means For You PPP spotlights shortcomings in credit unions’ small-business push Splitit is quickly adding...
Chinese internet finance business, Lufax, is developing an online trading platform for Chinese investors that will allow them to invest in assets anywhere in the world; the firm is the world's second largest financial technology company; the trading platform it is developing will launch in 2017 and seeks to meet a demand from Chinese investors to diversify away from a depreciating yuan. Source
Tala CEO Shivani Siroya not only points to the idea of building trust to grow a customer base but also belief in her instincts.
A report on China's consumer credit finds that consumers are increasing their use of debt with 94% of consumers using credit or a loan in the past year; consumers are borrowing more from internet-based sources with consumers increasing their borrowing from P2P loan providers while also borrowing more for car loans and mortgages; consumers in their 20s appear to be the leading borrowers as a trend towards living in the moment is motivating their spending habits; the report expects the rise in debt to continue, projecting household loans to increase at a rate of 14% for the next five years. Source
A study by Citigroup shows China as the world's investment leader in fintech; says investment is being led by success from "Chinese dragons" including Ant Financial, Lu.com, JD Finance and Qufenqi; in the first nine months of 2016 fintech venture capital investment increased to 46% of the global total; the full Citi report can be found here. Source
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
India was one of the fastest growing digital payments markets before the pandemic hit and now many of the companies...
Released at the Boao Forum for Asia this week, "The Report on Internet Finance 2017" details China's internet finance market, including its experience in mobile payments and online lending; discusses the opportunity for growth through e-commerce in Asia, specifically through the Belt and Road Initiative; highlights how mobile payments, peer-to-peer lending, online insurance and other internet finance businesses are evolving within the country's economy. Source
New York-based ConsenSys has been elected to advise the City of Dubai on the first ever blockchain city technology effort; the initiative is led by the Smart Dubai Office and IBM, the government's strategic partner; as part of the Dubai Blockchain Strategy 2020, the city of Dubai will now require all government records and transactions to be documented using blockchain technology. Source
Australian Fintech is broadening their industry census to better understand how companies can expand overseas, interact with regulators and handle gender diversity; Ernst & Young is partnering with Australian Fintech on the census and the deadline is set for September 3rd; "Last year's inaugural census - released as part of our 2016 Collab/Collide Summit - provided an extremely robust evidence base to help FinTech Australia advocate on behalf of the industry. This year's census will be even more important as it will for the first time give us trend-based information about the industry," FinTech Australia Vice-Chair Stuart Stoyan tells AltFi. Source