China

Digital Insurance Grown 20 Times but Traditional Channels Still Dominant in China

The insurance industry is on the brink of a major transformation, driven by factors such as macroeconomic development, changing consumer expectations, technological innovation and increased competition, according to a recent insurtech report by jointly published by ZhongAn and KPMG. In

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Standard Chartered Launched eXellerator Innovation Lab in China

Standard Chartered Bank announced the launch of the eXellerator innovation lab in China, that brings together employees, corporate clients and fintechs to develop innovative solutions that meet the evolving banking needs of clients. Located in Shanghai, the eXellerator in China

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Mobile Money Transfers to Exceed 200 Billion Transactions in 2024

New data from Juniper Research has found that the volume of domestic money transfers via mobiles will exceed 203 billion in 2024, up from 130 billion in 2019. Domestic P2P payments will drive this growth; accounting for 80% of all domestic

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Once Notorious for Copying, China’s Tech Giants Are Now Being Copied by the West

As China emerges as a tech powerhouse, successful concepts from Chinese tech giants are being studied and replicated by Asian and Western counterparts, according to a new report by South China Morning and its tech-focused news site Abacus. In the

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When It Comes to Payments, Its Risky to Use Your Face

In China, platforms and services like Alibaba’s Alipay and Tencent’s WeChat Pay have brought facial recognition payments to online and brick-and-mortar retail stores. But as biometrics and facial recognition technologies become mainstream, experts and regulators are concerned about the privacy

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Shake-Up in ZhongAn’s Senior Leadership Team

ZhongAn, a leading insurtech company in China, today announced new senior leadership appointments. Former General Manager and Joint CEO Mr. Jin Chen has resigned his positions, whilst continuing his role as an Executive Director, Chairman of the Investment Strategy Committee

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China’s New Fintech Strategy Includes a “Chinese Version” of Regulatory Sandboxes

China’s central bank, the People’s Bank of China (PBoC) has revealed at the 4th Global Fintech (Beijing Summit) that it is currently drafting new policies for China’s fintech sector. This new plan, will include regulatory sandboxes for at least 10

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Ping An’s Operations Across The Board Will Be Powered by AI and Blockchain

Chinese conglomerate Ping An Insurance is applying blockchain-driven smart contracts across the full range of its operations—banking, securities, fund and property subsidiaries. A report by Sina that was translated by China Banking News said that all eight of Ping An’s subsidiaries are

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Hangzhou Eyes to Produce 10 Globally Known Fintech Firms by 2022

The government of Hangzhou unveiled a plan to build the eastern Chinese city into an international fintech hub by 2030. In the same plan Hangzhou aims to help produce at least 10 globally known fintech firms by 2022. The Chinese

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Livi VB’s New Trump Card is a CEO With Experience in China’s First Virtual Bank

Due to the worryingly slow development of digital banking in Hong Kong, regulator Hong Kong Monetary Authority (HKMA) granted virtual banking license it to a total of 8 virtual banks.  Since then, these companies have been locked in an intense battle for talent as they

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