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Fintech Start-up Cloudcase Provides Lending Solution for New Zealand’s TSB Bank

TSB Bank in New Zealand is rolling out a new lending solution from Australia-based fintech start-up Cloudcase. The bank states the new system “substantially reduces the time to process a loan from application to contract with multiple business efficiencies and customer benefits”.  The project started in January last year and has been a collaborative effort of TSB Bank’s technology teams ... Read More »

Kreditech Russia Achieves Microfinance Company Status

Kreditech Group’s subsidiary, LLC MFC “Kreditech Rus”, received the status of a Microfinance Company (MFC) on March 27, 2017 from the Central Bank of Russia. A new federal law in Russia aims to make the microfinance market transparent and understandable. It therefore requires the MFC status for all alternative lending companies operating in the country. As a Microfinance Company, Kreditech Russia ... Read More »

Kreditech Appoints Senior Global Consumer Bankers to its Advisory Board

Michael Lenora, former CEO of Vanquis Bank, appointed as Independent Chairman of the Board and Andy Golding, CEO at OneSavings Bank, as Independent Board Member The Hamburg based consumer finance technology company Kreditech has appointed two new independent Board Members to further strengthen its Advisory Board: Michael Lenora joined as Independent Chairman, Andy Golding as Independent Board Member. These recognized experts ... Read More »

Alibaba’s Ant Financial to Develop Services in Indonesia as Global Expansion Continues

Ant Financial, the fintech company affiliated with Alibaba, is continuing its global expansion. The firm has taken its first official step into Indonesia today after it announced a joint venture to develop local financial services.  The company has partnered with conglomerate Emtek, Indonesia’s second largest media firm and an investor in -major e-commerce player Bukalapak, to enter Indonesia, which is ... Read More »

Creditinfo Iceland in Partnership with Kenyan mobile financial services provider Alternative Circle

On Friday, 24th March 2017, an agreement was signed between Creditinfo Group and Alternative Circle, a Nairobi-based mobile financial solutions innovator, to facilitate financial inclusion in Africa. Seed capital, as well as extensive Creditinfo expertise in classic and alternative credit risk management, will empower Alternative Circle to enable access to consumer data that was unavailable before, therefore lowering barriers to a ... Read More »

UK Department for International Trade selects Encompass Corporation for RegTech Trade Mission

Glasgow based Encompass Corporations has been chosen by the Department for International Trade to join its first RegTech mission to the United States. The mission will last from 24th to 28th April and will take shape through a range of workshops, seminars networking and events. As well as networking with US counterparts, the mission will give the opportunity for UK ... Read More »

China Set to Exceed Previous FinTech Investment Record

In a report from CBInsights, Asia accounted for around 20 percent in the number of FinTech investments worldwide last year. However, deals accounted for a far more with 43 percent of the global funding taking place in Asia in 2016.  It’s believed this is down to the fact that major Chinese companies are pouring money into the Asian financial technology ... Read More »

BIIA at the Inter-American Development Bank (IDB) Washington Conference

BIIA attended a recent meeting organized by the IDB – Inter-American Development Bank on “Credit Reporting in the Americas: The current state of the industry and its regulations”.   At the IDB conference Neil Munroe, president of ACCIS and BIIA’s deputy managing director, provided an overview of the EU’s regulatory approaches to innovation.  Neil Munroe covered the following topics: EU policy ... Read More »

TransUnion Bolsters Fraud Prevention Exchange as Online Fraudsters Continue to Impact Personal Loan Delinquency Rates

Newly released TransUnion data found that as personal loan delinquency rates rise, online fraud, which includes loan stacking, continues to make significant contributions to these increases.  Serious delinquency rates (90+ days past due) at the conclusion of 2016 for personal loans originated in 2015 rose to 6.22%, up nearly 3% from the year-end 2015 delinquency rate of 6.05% for loans originated in ... Read More »

Credit China Eyes Online Payments and P2P

Credit China FinTech Holdings Ltd is planning more investments as it aggressively expands beyond its original loans and lease-financing businesses into online payments and peer-to-peer lending. The company, part of a consortium that offered to buy a stake in Ping An Securities Group Holdings Ltd last month, is in talks with “multiple” financial-services companies based in Asia outside China, said ... Read More »

Equifax Appointed by P2P Lending Platform Flender to Support SME Loans

Equifax UK has been appointed by new P2P lending platform Flender to support the underwriting of loans for UK SMEs. Equifax will supply real-time consumer and commercial data so that the underwriting process can be automated and optimised.  The data insight, provided via the Equifax Business Insights solution, will give a holistic view of SME loan applicants, providing Flender with ... Read More »

FactSet Launches Global FinTech Index

FactSet, a leading provider of integrated financial information and analytical applications, today announced the launch of the FactSet Global FinTech Index, which provides a benchmark to track the performance of companies engaged in financial technologies, particularly in the areas of software and consulting, data and analytics, digital payment processing and transfer, and payment-related hardware. The Index has been licensed to ... Read More »

Disruptive Fintech Is Dead — Long Live Collaborative Fintech!

Takeaways From Global Fintech Hackcelerator And FinovateAsia 2016 by Zhi-Ying Ng, analyst at Forrester Research serving eBusiness & Channel Strategy professionals FinovateAsia 2016 in Hong Kong and the Global Fintech Hackcelerator in Singapore last year gave us a glimpse into how fintech in the region will develop in 2017: Asia’s governments are playing a pivotal role in driving fintech investment. MAS ... Read More »

German Based Kreditech Raises EUR 10m from Rakuten

An Investment to improve financial freedom for the underbanked and open up new partnership opportunities Kreditech, a leading consumer finance company, has raised EUR 10m equity from Rakuten, Inc. This is another landmark investment in fintech by Rakuten, a leader in internet services and global innovation headquartered in Japan. Rakuten joins Kreditech’s outstanding group of backers, including J.C. Flowers and ... Read More »

Thai Banks Implement Blockchain to Become Regional Epicenter of Fintech

Thailand’s Kasikornbank has developed an issuance system for letters of guarantee based on IBM’s blockchain infrastructure. Kasikornbank, Thailand’s fourth-largest lender by assets, has developed a document certification system using blockchain technology and will launch it early next year, becoming one of the country’s first service providers to use the technology. The move follows other Thai lenders eying to spearhead the ... Read More »