Congress wants to extend PPP, lenders ready to move on Groundfloor Says Q2 was a Record Quarter Broadhaven Ventures’ Michael...
ICICI Bank, one of the “Big Four” banks of India introduced banking services on WhatsApp just three months ago; the...
Hongling Capital Monday had a press conference after the company announced to close its online lending business last week; Hongling Capital will be "upgraded" to Hongling Holding, and the latter will focus on industry finance, investment banking, asset management and wealth management, Hongling Chairman Zhou Shiping said in the press conference. Source (Chinese)
Tala CEO Shivani Siroya not only points to the idea of building trust to grow a customer base but also belief in her instincts.
Ant Financial is building a new platform for selling money market funds online; it is also introducing "Fortune Accounts" which will sell a broad range of investment products to Chinese consumers through its wealth management app; the first companies to partner for the Fortune Accounts are Bosera Funds, Aegon-Industrial Fund, Tianhong Fund, China Southern Fund and CCB Principal Fund with more companies to be added in June when the platform launches; Ant Financial says it plans to only develop technology to improve platforms for financial institutions, branding itself as a techfin company with no plans to develop its own financial services. Source
City A.M. reports on Sydney-based Othera's use of blockchain for improving liquidity in online lending; Othera is a P2P lender; once its loans are made, it has developed a process through blockchain operations that can assign loan portions to tokens that can then be tracked through blockchain operations and sold on an exchange; the firm already uses blockchain for all of its lending operations and has a global patent pending for the tokens. Source
Two of the Co-Founders from Google Pay in India have launched a new neo-bank aimed at millennials in India; epiFi...
Ppdai is reportedly looking to a US IPO and plans to raise $200 million; it would be the second lender to do so after Yirendai in 2015 who raised $75 million; the company was founded in 2007 and offers unsecured loans. Source
The People's Bank of China (PBoC) requires all third-party payment institutions to channel transactions through a newly established central clearing platform called Nets Union Clearing Corp. (Wanglian); the trial operations started in April and will be put to formal use on July 1, 2018; by that time, all third-party payment firms (including Alipay and TenPay), will not be able to conduct transactions, such as bank transfers, outside of regulator's supervision. Source
Standard Chartered China's credit cards can now be added to WeChat user payment accounts, marking the first foreign capital-backed bank to cooperate with Tencent this way; according to Tencent Financial Technology Group (Tencent FiT) Payment Platform Product Manager Chen Qiru. the cooperation will help WeChat Pay to acquire more international users and WeChat Pay will strengthen cooperation with international financial institutions. Source (Chinese)