Archive

ByteDance’s Fintech Ambitions in Tatters Amid China Clampdown on Bigtechs

TikTok’s owner ByteDance said on September 01, 2021 that it plans to scale back its fintech business and sell its securities brokerage operations amid regulatory pressure on fintech companies. The firm did not name the business unit it intends to

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Airwallex Now Valued at US$4 Billion With Latest US$200 Million Series E

Cross border payments firm Airwallex announced it has raised US$200 million in an oversubscribed Series E financing round, increasing the company’s valuation to US$4 billion. This latest investment which was led by Lone Pine Capital follows an extended Series D

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Future-Proofing Against Compliance and Risk When Expanding Globally

Globalization Partners, a US-based compliant and automated global employment platform, found that companies that grow internationally without prioritising compliance are sure to run into problems according to its “7 Compliance Challenges Companies Face When Growing Globally” e-book. As a fast-growing fintech industry,

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TransUnion Acquires Neustar for US$3.1 Billion to Enhance Digital Identity Capabilities

American consumer credit reporting agency TransUnion has signed a US3.1 billion deal to acquire Neustar, an identity resolution company, from a private investment group led by Golden Gate Capital and with minority participation by GIC. ​​​​​​Neustar’s security business, which is

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ZA Rolls Out Fund Service for Retail Investors in Push for Wealth Democratisation

ZA One, an integrated financial services platform under ZA International, has rolled out a fund service for individual investors in a bid to democratise wealth management. Users can now invest via the ZA One app with a minimum subscription fee

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Mox Bank Rolls Out Instant Loans Offering

Hong Kong’s virtual bank Mox announced the roll out of its ‘Instant Loan’ offering a year after the launch of its operations in the country. This new product, which is already available in its app, allows Mox Credit customers to

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What Is The Metaverse and Why is the Financial Sector Embracing It

The metaverse, a combination of “meta”, meaning beyond, and “universe”, has rapidly emerged as a major trend for companies around the world, a growth that’s been fueled by the global pandemic, lockdown measures, and the boom in cryptocurrencies. In South

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China Kicks off Multibillion Dollar Investment Link With Hong Kong and Macau

China has officially launched the Wealth Management Connect (WMC) with Hong Kong and Macau to carry out cross-boundary investment in wealth management products distributed by banks in the area. The Wealth Management Connect trading scheme will initially handle a total fund

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China Enters a New Age of Fintech

After a period of rapid growth and innovation, the Chinese Internet sector is entering a new phase of development on the back of new stringent regulations, changing demographics and geopolitical tensions, according to the South China Morning Post’s annual China

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Stronger Mobile Application Security Is the Key to Revenue Growth

Financial institutions have been moving towards expanding digitisation for years, offering remote banking services, and prioritising the customer experience in digital platforms. In 2020, however, the COVID-19 pandemic has dramatically accelerated this shift. With less access to bank branches, the

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