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Asian Development Survey Suggests Fintech, Digitization Still Not Significantly Impacting Trade Finance Gap

Banks and companies in the trade finance sector are increasingly using digital solutions to address companies’ significant and unmet financing needs. Yet the global trade finance gap—estimated at $1.5 trillion, with approximately 40% originating in Asia and the Pacific—persists in a stable state, with emerging economies and small- and mid-size enterprises (SME) bearing the brunt of financing shortfalls. More than ... Read More »

FINTECH TINUBU SQUARE SECURES €53M INVESTMENT FROM LONG ARC CAPITAL & BPIFRANCE

Tinubu Square, a leading provider of trade credit risk management solutions, announces the investment of €53 million from Long Arc Capital and Bpifrance to accelerate the development of its technology solutions for credit and surety insurers, trade finance banks and export credit agencies.   With this capital injection, US-based investment firm Long Arc Capital takes a majority stake in Tinubu ... Read More »

SME Lending: Credibly Continues Growth with $500M Origination Milestone, BizFi Portfolio

Credibly’s products rely on data science and machine learning Leading “fin-data” SMB lender Credibly will now be servicing the portfolio of competitor lender BizFi, adding BizFi’s $250 million portfolio and 5,200 merchants to its platform.  Along with the BizFi decision, Credibly also announced today that it has hit $500 million in originations to tens of thousand of SMBs, a milestone for the company ... Read More »

CRIF Takes 33rd Place in the IDC FinTech Rankings 2017

  The most comprehensive classification of the top 100 global technology suppliers in the financial services industry. ​CRIF is ranked in 33rd place in the IDC FinTech 2017 classification, taking a further leap forward compared to the 2016 ranking. In its fourteenth edition, the IDC FinTech classification assesses the main global suppliers of financial technology based on revenues for the ... Read More »

Arvato Financial Solutions wins Continuity and Resilience Team Award at the BCI Asia Awards

The Business Continuity Institute, the world’s leading Institute for continuity and resilience, has awarded Arvato Financial Solutions the Continuity and Resilience Team Award at the BCI Asia Awards 2017.  The winners of the awards will be presented with their trophies at a ceremony to be held in Singapore later this year. Arvato Financial Solutions was recognised for the strong performance ... Read More »

Credit Karma Names Susannah Wright its First General Counsel

Former prosecutor and SolarCity and Tesla counsel joins rapidly expanding financial technology company Credit Karma, the top venture-backed personal finance company in the world, today announced it has named Susannah Wright its first general counsel. Previously head of compliance at SolarCity and Tesla, Wright also joins Credit Karma’s executive committee. As general counsel, Wright oversees all legal matters at Credit ... Read More »

China’s Regulators Strive to Keep up with Fast-growing ‘Fintech’

If regulators stay out of the financial technology explosion, the popularity of non-conventional financial services may make the state-backed financial system irrelevant. That can create huge risks, as was the case in 2015’s stock market rout.  But if regulators step in too deep, intervention can easily kill new services and wipe out the advantages China enjoys as a global Fintech ... Read More »

Experian and Orchard Platform Collaborate to Help Institutional Investors and Online Lenders Navigate Big Data Challenges

Experian® and Orchard Platform, the leading provider of data, technology and software to the online lending industry, have joined together to announce a strategic collaboration that will give institutional investors access to Experian’s depersonalized consumer credit data. Orchard’s institutional clients can use depersonalized credit data for ongoing monitoring of borrower creditworthiness for loans in existing portfolios. Experian also will provide ... Read More »

China’s Central Bank Vows to Push for Blockchain in Five-Year Plan

The People’s Bank of China (PBoC) is releasing new details about a forthcoming five-year development plan focused on its strategy for advancing technology use in the country’s domestic financial industry. According to the announcement by the central bank, the PBoC intends to actively push forward the development of new technologies such as blockchain and AI. It also plans to strengthen its research on applications of fintech ... Read More »

Fintech Company Klarna Becomes a Bank

Klarna is the First Major European Fintech to Receive a Full Banking License When Klarna’s three founders presented their digital invoicing idea to the cream of Swedish industry and the country’s king in 2005, they suffered rejection.   “Look, this is never going to work; the banks are going to do this,” Klarna’s chief executive, Sebastian Siemiatkowski, remembers as the message of ... Read More »