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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 »

Credit China Fintech to Invest in Vietnamese Amigo Technologies to Go Global

Credit China FinTech announced that the Group intends to acquire approximately 51% of the enlarged issued share capital in Amigo Technologies Joint Stock Company (“Amigo Technologies”) at a consideration of approximately USD12.73 million, equivalent to a valuation of approximately USD25 million.  Established in January 2005, Amigo Technologies is principally engaged in the provision of IT services and solutions for personalised ... Read More »

De-Risking SMEs: Why Banks Are Ditching FinTech SMEs — Without Warning

Post-financial crisis regulations have forced banks to become more diligent and aggressive against financial fraud, including money laundering. In response to new rules, financial institutions in the U.K. have heightened their practice of de-risking — that is, withdrawing bank accounts or other financial services from customers deemed to be high-risk. Financial institutions assure authorities that their increase of de-risking practices ... Read More »

Kreditech Appoints Michael Panowicz as CPIO

Kreditech, the Germany based consumer finance technology Group, announced that Michal Panowicz is joining as Chief Product and Information Officer (CPIO). In the newly created role of the CPIO, Michal will be responsible for the product and technology departments. Michal joins the Executive Team in the Hamburg Headquarters together with Founder and CEO Alexander Graubner-Müller, CFO Rene Griemens, CDO José ... Read More »

ID Analytics Announces the Online Lending Network to Help Protect Consumers and Businesses

New Consortium to Enhance Responsible Lending Through Leveraging Collective Data Across the Industry ID Analytics LLC announced the launch of the Online Lending Network, a new consortium formed to enhance responsible lending, help protect consumers and businesses, and address credit and fraud risks. Founding members include Lending Club, Prosper Marketplace and Marlette Funding, as well as lenders representing online, marketplace, ... Read More »

Kreditech Launches Online Point-Of-Sales Financing: Beta Phase Integration with Naspers’ E-Payments Division

The consumer finance technology company Kreditech has announced its new business line, Online Point-of-Sales (POS) Financing, with its first client, PayU Global BV. PayU Global BV, a leading payment services provider and the e-payments division of Naspers Ltd., deploys Kreditech’s B2B2C solution. In the freshly launched beta phase with a selected merchant, PayU provides Kreditech`s installment products as a new alternative ... Read More »