Lending
Alibaba’s Online Bank Unveils Five-Year Plan to Acquire More SME Customers
MYbank, the digital bank under Ant Group (formely known as Ant Financial) which is part of the Alibaba Group, today announced a five-year plan to reach more small and micro enterprises (SMEs) across China via supply chain finance and rural
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South Korea’s Rapidly Growing P2P Lending Industry Faces Scrutiny
With a mushrooming delinquency rate and investment fraud allegations, South Korea’s rapidly growing peer-to-peer (P2P) lending industry has come under scrutiny. Over the past couple of years, the delinquency rate, or the percentage of loans that are past due, has
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How WeChat Pay Determines If You Are Trustworthy With Their Credit Score
WeChat Pay, Tencent’s mobile payments system integrated into the WeChat super-app, has told its users that it will be giving them a credit rating, called “Payment Points.” The system leverages artificial intelligence (AI) and uses users’ data collected from the
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Lending Activity Decreases and Loan Defaults on The Rise in Hong Kong Amid COVID-19
The newly-released TransUnion Q1 2020 Industry Insights Report shows that COVID-19 has severely amplified the impact of the 2019 Hong Kong recession, and started to shape the consumer credit market in a number of distinct ways. With economic conditions worsening
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HPDLendScape Enhances Supply Chain Finance Offer to Simplify Access for Asia’s SMEs
HPDLendScape, a leading secured lending platform vendor, announced a new supply chain finance (SCF) solution. The new enhanced solution will make it simpler and faster for lenders to onboard and support buyers and suppliers, giving Asian businesses more streamlined access
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China’s P2P Lending Sector Is Coming to an End
Every peer-to-peer (P2P) lending platforms in China must become small loan providers within two years, according to an official notice issued by China’s Internet Financial Risk Special Rectification Work Leadership Team Office. It also states that all outstanding loans must
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Neat Snubs Virtual Banking License and Picks Up The Money Lender License Instead
The fintech startup Neat, a digital banking alternative, has been granted a Money Lender’s License in Hong Kong, which marks their first step in their pursuit of global financial regulation. The move also marks Neat’s full turn away from virtual
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How Does Hong Kong’s Digital Lending Scene Compare to The Disaster in China
P2P lending and digital lending has been on the rise lately, with many countries moving to regulate the space. Conventional digital lending has been met with far less controversy than its counterpart P2P lending. While P2P lending has been created
Read MoreTheir Business Faced Roadblocks, So Didi is Now Mirroring Alibaba’s Fintech Game Plan
The company that drove Uber out of China, Didi Chuxing, comes into the new year embroiled in controversy. About a month ago, Didi announced a major restructuring—the latest development in series of platform tweaks after it came out that the
Read MoreSkype Co-Founder’s Lending Startup Raises US$105 Mil
Oriente, the Hong Kong-based financial services and technology company announced today that it had completed a US$ 105 million initial funding round. This included investment from the founders and a group of family offices including members of the Berjaya Group,
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