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Ant Financial Consumer Loans have reached $95B

Ant Financial has seen its consumer lending business reach 600 billion yuan ($95 billion) even as the company faces a stricter environment for securitizing loans in China. According to news from Bloomberg, citing people familiar with the matter, Ant Financial’s lending division, which provides loans to consumers through its Huabei and Jiebei units, has doubled since the start of 2017 ... Read More »

Kreditech and PayU Launch Instant Cardless EMI with PayU Monedo in India

India’s leading online payment service provider PayU and Kreditech launches the beta phase of PayU Monedo in India. PayU Monedo will provide cardless EMIs (equated monthly installments) to finance the online purchases of consumers in India. The new offering follows the launch of a strategic partnership between PayU and Kreditech announced in May 2017 to deliver a joint proposition for cardless EMI.  The partnership ... Read More »

Kreditech Announces Strategy for 2018

Kreditech, the leading technology group for digital consumer lending using machine-learning based underwriting, has experienced a successful financial year in 2017 and has announced its plans for 2018. As part of its strategy, Kreditech will focus to expand its business via Lending-as-a-Service, prepare its organization and technology for the next stage of growth and take a clear step forward towards profitability. ... Read More »

Yirendai Connects to NIFA’s Internet Finance Industry Credit Information Sharing Platform

Yirendai Ltd., a leading fintech company in China, announced today that it has connected to the Internet Finance Industry Credit Information Sharing Platform (“the Platform”) established by the National Internet Finance Association of China (“NIFA”). The Platform was established to serve as an industry wide credit data sharing database in aims of reducing credit risk, improving the credit environment and ... Read More »

De-risking: Why Banks Are Ditching SMEs as weak as 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 »

Fintech Leads the Way in the UK as Investment in Tech Firms Doubles in 2017

London’s fintech sector remains a hotbed of investment activity, capturing the lion’s share of a £2.99 billion venture capital splurge on UK tech firms. The figures, produced by Pitchbook for promotional agency London & Partners, show VC investment into the UK’s tech sector reaching an all-time high in 2017 at almost double the £1.63 billion invested in 2016. Brexit may ... Read More »

Kreditech Ranked Among Top 10 Fintechs Worldwide

Consumer lending company focused on underbanked segment ranked 7th among leading fintech company worldwide and receives award as one of the fastest growing companies in Germany Kreditech, the leading technology group for digital consumer lending using machine-learning based underwriting, is celebrating the acknowledgement of its rapid business growth: KPMG and fintech investment firm H2 ventures just ranked Kreditech 7th out of ... Read More »

Fintech Company Rubique in Partnership with TransUnion Cibil

Rubique Ties up with CIBIL to Allow Easier Access to Credit Score Checks Fintech company Rubique has announced its partnership with CIBIL, India’s premier Credit Information Company (CIC) to provide credit scores and valuable insights on its platform, thereby increasing the transparency in the conventionally-opaque credit-seeking process for its users. This is the first ever tie-up for CIBIL with a ... Read More »

Taking Care of Your ‘Digital Footprints’

Customers without credit scores can take the digital journey to get loans Rajiv Raj and Abhishek Agarwal co-founders of CreditVidya comment why fintech companies and P2P lending platforms are looking at alternative data, and how you should take care of your digital footprints Rajiv Raj (left) and Abhishek Agarwal, co-founders of CreditVidya. Mumbai-based CreditVidya, a fintech start-up, uses alternative data ... Read More »

Rocket Internet Runs Out of Steam

According to a recent article in the FT shares in Rocket Internet fell sharply, after the Berlin-based tech investor said it would take longer than planned for some its key portfolio companies to swing into profit. Some investors also voiced disappointment that the group failed to provide clarity on how and when it would deploy its €1.6bn cash pile. The ... Read More »

WeLab Raises US$220 million

Financial tech startup WeLab raises $220M from investors including Alibaba, the IFC and Credit Suisse WeLab, a financial tech startup that operates online lending platforms in Hong Kong and China, has raised $220 million in combined equity and debt financing. The round, which WeLab says is its Series B+, brings its total funding so far to $425 million. Investors include ... Read More »

Intuit Offers Direct Lending to SMEs

Intuit Becomes Latest Technology Company to Offer Direct Lending    Will rely on QuickBooks customer data to evaluate borrowers Amazon also make loans as tech firms edge into finance Intuit Inc., the maker of tax-preparation and accounting software, will start lending directly to smaller businesses as it becomes the latest tech company to offer credit to firms. The roughly 7 ... Read More »

Lendingkart Finance Partners with CIBIL Marketplace

Fin-tech startup, Lendingkart Finance Ltd. has announced its partnership with Transunion CIBIL, one of India’s leading credit information companies. Through this partnership, self-employed professionals and small business enterprises will now be able to access loans offered by Lendingkart Finance on the CIBIL MarketPlace platform. TransUnion CIBIL maintains one of the largest collections of consumer credit information along with creating information ... 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 »