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Asia/Pac

·Aug. 28, 2017

RateSetter Australia Reporting Success from Intermediaries

RateSetter now has over 2,000 broker dealers supporting loan originations on its platform with loans from the intermediaries doubling approximately every six months; top reasons for the borrowing from this channel include vehicle loans, home improvement and debt consolidation; firm has also lent $150 million since its launch in 2014. Source

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Asia/Pac Fintech USA

·Jun. 16, 2020

More News for June 16th, 2020

When China’s Aggressive Debt Collectors Come Knocking: ‘You Committed a Sin’ After being acquired by SoFi, Galileo’s Clay Wilkes looks...

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Asia/Pac Fintech News Roundup

·Apr. 27, 2017

Ning Tang and CreditEase Honored with Financial Literacy Award

Ning Tang, founder and CEO of CreditEase, has received the China Financial Literacy Distinguished Contribution Award; the honor was awarded at the 2nd China Financial Literacy Annual Conference; as an institution, CreditEase was also honored with the China Financial Literacy Distinguished Contribution Award; the awards recognize Ning Tang and CreditEase for their broad commitment and contribution to financial inclusion, wealth management, fintech innovation and public financial education. Source

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Asia/Pac Fintech News Roundup

·Dec. 21, 2016

Zhongan Focusing on a China IPO

Sources have reported that Zhongan is no longer considering an initial public offering (IPO) in Hong Kong or the US due to a shifting market perspective; international interest and competitive pressures are cited as the main factors for the change in the IPO strategy; the insurance company was planning for an IPO in Hong Kong or the US sometime in the first few months of 2017; the China listing will likely delay the offering and the firm has not disclosed its new timing. Source

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Asia/Pac Fintech News Roundup

·Aug. 30, 2017

Dianrong, FinEX Asia Launch Asia’s First Fintech Asset Management Platform

Dianrong and FinEX Asia have launched Asia's first fintech asset management platform; established in 2017, FinEX Asia connects Asian investors with US consumer lending assets, such as credit card loans, giving Asian investors access to a diverse portfolio of US consumer credit investments; FinEX Asia's fintech solutions offer risk modeling capabilities, blockchain data security, performance monitoring and secondary marketplace liquidity. Source

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Asia/Pac News Roundup Online Lending

·Apr. 14, 2017

Faircent’s CMO on the Firm’s Lending Platform

Karun Thareja, Faircent's chief marketing officer, talks about the firm's business model and technology; the firm is one of the largest peer-to-peer consumer lenders in India and offers its investors annual returns ranging to 20%; it has built a comprehensive loan operating system with integrated client relationship management technology and lead generation channels; recently it has been focused on client acquisition through Facebook which it has integrated with its platform for customer communication. Source

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Asia/Pac Fintech News Roundup

·Jan. 25, 2017

Chart: New Fees Reduce Bitcoin Trading Volume on Chinese Exchanges

<p>China has accounted for over 90% of bitcoin's trading volume in recent weeks as no trading costs and a devaluing yuan have attracted the attention of traders; the country has approximately 10 of the world's leading bitcoin exchanges which have seen some intervention from Chinese regulators in recent weeks; beginning on Tuesday, three of the largest Chinese bitcoin exchanges implemented a flat fee of 0.2% per transaction to manage manipulation and volatility; trading volumes were significantly impacted following the new fee structure with volumes down approximately 90% on Chinese bitcoin exchanges.

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Asia/Pac News Roundup Online Lending

·Aug. 25, 2017

China’s Banking Regulator Releases New Rules on Online Lenders’ Disclosure Requirements

The China Banking Regulatory Commission has released new rules on disclosure requirements for online lenders; new rules additionally require online lenders to disclose the information of "compensation", which is the money that third parties pay for the loans that cannot be paid back by borrowers; stricter rules in terms of information disclosure will help investors to know the operational conditions of online lenders better. Source (Chinese)

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Asia/Pac News Roundup Online Lending

·Mar. 6, 2017

China’s CredEx Offers Mobile App Loans

CredEx has developed a mobile app for loans in China; allows for borrowing of as much as RMB 300,000 (USD 43,000); the firm's business has been built around a focus on five factors including: mobile apps for loans, anytime access to borrowing and repayment, personalized interest rates, mobile internet risk control and uniquely connecting financial institutions with borrowers. Source

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Asia/Pac Fintech News Roundup

·Apr. 27, 2017

China’s MaiziJinfu Raises Series B Funding

MaiziJinfu, a Chinese Internet-based financial services provider, has raised funds in a Series B funding round; Huang Darong, CEO and chairman of MaiziJinfu, said, "The new fund will be used to incubate upgraded internet finance products as well as to further the company's talent development."; the announcement was made at the Internet Finance Development and Innovative Application Forum in Shanghai; MaiziJinfu has served over two million clients from diverse industries, with approximately 20 billion RMB of funding; it is also the parent company of UniFi which offers a financing product for international students in the US and Canada, supporting them with funding for various purposes that is difficult to obtain because they lack standard Social Security records. Source

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