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Ant Financial Appears to Becoming the World’s Top Consumer Bank – If Foreign Regulators Let It Happen

The biggest obstacle for the Alibaba affiliate are strict regulations abroad In a world that embraces disruptive technology, China’s most prominent financial technology company, Ant Financial Services Group, would probably have no problems morphing into a bank, even without licenses. Beginning as an online payment processor called Alipay supporting Alibaba Group Holding’s flagship e-commerce platform Taobao, Ant Financial has expanded ... Read More »

Credit Karma Announces Largest Proactive Effort to Help Return More Than $40 Billion in Unclaimed Money to Consumers

Completely Free Monitoring and Proactive Notifications Now Available for 40% of U.S.; More Coverage Coming Soon Credit Karma today announced the launch of Credit Karma Unclaimed Money, a completely free feature to help Americans find tens of billions of unclaimed money that is rightfully owed to them.  Credit Karma searches for unclaimed money in California, Georgia, New Jersey, New York, ... Read More »

TransUnion: Five Questions on FinTech with Ibrahim Dusi of Payoff

As part of TransUnion’s “Five questions on FinTech” blog series, John Wirth sat down with Ibrahim Dusi, Chief Risk Officer at Payoff, to get his insights on the future of the FinTech industry, the importance of differentiation and innovation, and how they are saying yes to more consumers Q1: What do you see as critical milestones for the FinTech industry as it matures? ID: The ... Read More »

Blockchain Based SME Lending Platform Bitbond Receives €5 Million Debt Commitment

Global SME marketplace lender Bitbond today announced that it received a commitment from Obotritia Capital to fund loans worth €5 million through its platform. Additionally, Obotritia invested an undisclosed amount of equity to acquire a stake in Bitbond. Bitbond was founded in 2013 and shortly after its start the young company was able to win investors like Point Nine Capital. In 2015 we ... Read More »

PayU and Kreditech in Global Partnership

Kreditech, a leading technology group for digital consumer credit using machine-learning based underwriting, has closed a EUR 110 million investment from global online payment service provider PayU.  The landmark investment is the largest ever equity investment in a German fintech company and builds on a successful 12-month pilot programme in Poland. As part of the deal, Kreditech and PayU agree ... Read More »

Do ‘Digital-Only Banks’ Have a Future in Asia?

Imagine a scenario where banks offer their services digitally; not as an ad hoc feature but as a fully integrated mobile experience. A digital-only bank that allows customers to do everything on their smartphones, from opening a new account to making payments, settling credit card bills to resolving disputes, all without having to go to a physical branch. If this ... Read More »

Alibaba Makes Its First FinTech Investment In Hong Kong

Alibaba has expanded its investment portfolio in Hong Kong and has chosen Qupital to be its first FinTech investment in the city.  Qupital has just secured a seed investment round of $2 million, led by MindWorks Ventures and Alibaba Entrepreneurs Fund, with co-investment from DRL Capital, Aria Group and several other investors. The funding will be used to enhance its ... Read More »

The Future of Lending is Now with Latest TransUnion Prama Offerings

Changing credit landscape creates opportunities for fast-moving lenders As TransUnion (NYSE: TRU) data from the end of March 2017 suggest, the consumer credit market is as complex as ever. Mortgage delinquency rates: continuing to drop. Auto loan delinquency rates: rising. Personal loan market: growing, but slowing. Access to credit cards: highest since 2005. Maneuvering through this ever-changing credit landscape is difficult for lenders of ... Read More »

Sorry, FinTechs – SMEs Like Big Banks Better

New data from the Federal Reserve shows small businesses aren’t taking to FinTechs as much as they’d hoped. Reports on April 13) said the Federal Reserve Bank of New York released a survey that found small traditional banks scored an 80 percent satisfaction rate with SMEs, followed by credit unions and big banks, scoring 78 percent and 61 percent satisfaction rates, respectively. ... Read More »

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 »