Lending

South Korean P2P Lender PeopleFund Raises US$20 Million Led by Bain Capital

South Korean peer-to-peer (P2P) lending platform PeopleFund announced that it has raised an additional US$20 million led by existing investor Bain Capital. The round, which was open only to its existing investors, was joined by Access Ventures, CLSA Capital Partners

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ZA Bank Offers Debt Consolidation Plan With 6-Months Payment Deferment

Hong Kong’s virtual bank ZA has rolled out its new debt consolidation programme ‘Debt Changer’ which seeks to make it easier for customers to repay their debts in one go and improve their credit ratings. The new offering will consolidate

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Hong Kong’s Lending Business Enter Recovery Mode as Consumer Sentiments Improve

In Q2 and Q3 2022, consumer credit activity in Hong Kong increased in key product categories amid eased COVID-19 restrictions, the launch of Phase II of the Consumption Voucher, as well as improved consumer sentiment and employment situations, new findings

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Hong Kong Officially Launches Its Credit Reference Platform

Hong Kong’s Credit Reference Platform (CRP) has completed system testing and officially commenced operation on 28th November 2022. CRP’s launch was announced by the Hong Kong Association of Banks (HKAB), Hong Kong Association of Restricted License Banks and Deposit-taking Companies

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3 Ways Machine Learning Can Enhance Your Lending Process

A vast majority of the populations in the emerging markets of Southeast Asia, Latin America, and India are at the cusp of financial inclusion, thanks to the growing availability and adoption of digital lending services. The fintech-as-a-service market is predicted

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BIS, HKMA to Explore Use of DeFi Tools to Improve SME Financing

The BIS Innovation Hub’s Hong Kong Centre and the Hong Kong Monetary Authority (HKMA) will look into the use of decentralised finance (DeFi) tools to improve access to finance for unfunded and underfunded small and medium enterprises (SMEs). The launch

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4 Ways Alternative Data Is Improving Fintech Companies in APAC

Various categories of fintech firms – Buy Now, Pay Later (BNPL), digital lending, payments and collections – are increasingly leveraging predictive models built using artificial intelligence and machine learning to support core business functions such as risk decisioning. According to

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SME Lending in APAC Is the Major Opportunity for Banking-as-a-Service

Opportunities are endless with Banking-as-a-Service (BaaS), and nowhere is this more true than in Asia Pacific (APAC). Banks in the region, particularly in hubs like Singapore and Hong Kong, have embraced and become leaders in open banking, automated services, ever-improving

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Livi Bank Now Offers Instant Personal Loans up to HK$1 Million

Hong Kong’s virtual bank livi announced that it has launched its personal loan offering from HK$10,000 up to HK$1,000,000. The livi Flexi Loan is fully automated and available 24/7 where approvals reportedly takes about 2 minutes after which the funds

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Livi Bank Rolls Out Financing Products, Enables Account Opening for Mainland Visitors

Hong Kong’s virtual bank livi has unveiled new financing products that serve its customers’ financial needs both in their personal and business lives. The Franchise Financing Solutions offered by livi are tailored for individuals who enter into the SME sector in

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