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Defining financial inclusion and its true value to society
At least 1.5 billion adults worldwide do not have access to financial services and, as a result, are not benefiting from financial inclusion. Read more…
finance
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Follow the FinTech: the new battle for control
Money, power and politics have always been linked to each other. The control of banks and finance services is an important way to use power and control macro developments. For example, anti-money laundering measures are Read more…
News
Banks launch blockchain-based trade finance platform in HK
HONG KONG (Reuters) – A new blockchain-based trade finance platform, developed by HSBC, Standard Chartered and ten other banks, was launched in Hong Kong on Wednesday to boost efficiency in the multi-trillion-dollar funding of international Read more…
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Criticizing FinTech over reputation risk is sheer hypocrisy
Traditional finance institutions often question and criticize the new finance models enabled by FinTech, using the excuse that banks are heavily regulated and must manage risks and protect their reputations. Yet the banking sector has Read more…
Off the Wire
Standard Chartered in blockchain bank-guarantee pilot
Standard Chartered has announced it is collaborating with Siemens Financial Services, the financing arm of Siemens, and digital trade provider TradeIX on a client pilot in the UAE to create an end-to-end blockchain-based smart guarantees Read more…
Features
Beijing quashes protests over P2P lending crisis
BEIJING (Reuters) – Peter Wang was asleep at his home in Beijing last Monday when police officers arrived before dawn to detain him, saying he had helped organize a protest planned for later that day. Read more…
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Wanna use FinTech to monetize web services? The East is already doing it
“The West monetizes web services with the advertising model, and the East monetizes them with FinTech.” I heard this comment at a think tank event I recently participated in. It is a very interesting observation. Read more…
News
Baidu beefs up financial services biz by selling majority stake in it
(Reuters) – China’s Baidu said it will sell a majority stake in its financial services business for about $1.9 billion to a consortium led by TPG Capital Management and Carlyle Group, as it looks to Read more…
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Financial services are finally getting real about AI apps
Clear away the vendor hype and desperate “me too” announcements from across the sector, and the evidence is starting to mount that financial services is exploring serious applications of artificial intelligence (AI). The technology is Read more…
News
Grab teams with Credit Saison to offer financing services
SINGAPORE (Reuters) – Southeast Asia’s Grab has teamed up with Japanese credit card company Credit Saison to provide loans and lending services in the region, marking the ride-hailing firm’s biggest expansion into financial services. Their Read more…