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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 »

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 »

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 »

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 »

KYCK Launches Know Your Customer Platform on IBM’s High Security Business Network on Secured LinuxOne Servers

KYCK! is a first level KYC platform with remote onboarding capabilities that raises the quality of first level KYC, at a higher level of convenience. In essence KYCK claims to be a one-stop digital identity wallet.  KYCK believes in data security.  A primary reason why the company has collaborated with IBM to store identities on a private, permissioned blockchain network. ... Read More »

China P2P Lender Lufax Announces Hong Kong & Singapore Expansion

Lufax, one of China’s largest peer to peer lending platforms, has announced plans to expand into both Hong Kong and Singapore. This news comes less than two months after the lender announced preparations for its Hong Kong Listing and IPO. Lufax Chairman and CEO, Gregory Gibb, reportedly stated the lender’s IPO could be next year’s largest. He shared:“We’ve been looking ... Read More »

2016 China Internet Financial Credit Reporting Forum

Shine Consultant hosts the 2nd China Internet Finance Credit Reporting Forum 2016 to build a platform for industry chain parties. Commercial Bank, P2p Company, Consumer Finance Company, Supply Chain Finance Company, Credit Bureau, Big Data Company will be invited to talk about industry supervision, risk prevention, data credit reporting, inclusive finance and consumer finance. Lawrence Yee, Director of BIIA will ... Read More »

Alibaba’s Finance Arm Ant Says to Expand First in Asia

Ant Financial Services Group, the world’s biggest financial technology company, plans to focus its expansion plans in Asia before looking to go more global. Ant Financial will offer insurance and investment management products outside of China, senior vice president Douglas Feagin said at an event to mark a tie-up with a payment firm in Thailand. Feagin, a former Goldman Sachs ... Read More »

Lending Stream Builds Leading-Edge Credit Platform with FICO Analytic Software

Analytic software firm FICO announced that UK short-term lender Lending Stream has built its credit system using the FICO® Decision Management Suite, a platform for developing decision management applications. Lending Stream uses the system during the credit origination process to match credit terms with each applicant’s specific risk and repayment ability. “Analytics is in our DNA — we started as an analytics company and turned that ... Read More »

Digital Federal Credit Union Joins Digital Trade Group Digital Chamber

Digital Federal Credit Union (DCU) has joined the Chamber of Digital Commerce, the Washington, DC-based blockchain trade organization. DCU claims to be the largest credit union in the New England region by total assets. Founded in the late 1970s, it boasts more than 500k members throughout the US. The Massachusetts-based credit union is the first of its kind to join the organization, which was established in ... Read More »

Ant Financial Appoints Eric Jing as CEO and to Oversee IPO in 2017

Ant Financial, the online financial services company controlled by billionaire Jack Ma, has appointed a new chief executive to steer its next phase of growth and orchestrate an initial public offering that’s expected next year.  Ma’s choice to lead the Alibaba Group Holding Ltd. affiliate is Eric Jing, a veteran of corporate finance with extensive experience working with multinational companies. ... Read More »