China surging in payments technology: lessons for the West
What has driven the explosive growth of Asian paytech from giants such as Ant Financial and Tencent? And what’s next?
China
Ant Financial lights up China Everbright Bank’s digital revamp
Overhaul includes cloud platforms and mobile architecture.
Jeneration game for fintech with new $800m fund
All right, my loves? Bonus news from Hong Kong-based investor.
Banking Technology May 2018 issue out now
All encompassing. Right place, bright time.
UAE and China to create new “Belt and Road” exchange
It will serve as a key international capital-raising platform for Chinese firms.
Top fintech stories this week – 20 April 2018
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
China Construction Bank opens robot-run branch
No human staff to be seen in this robotic dream.
Ant Financial teams with IFAD for rural economy development
Partnership aims to reduce rural poverty in China and other developing countries.
BBVA to invest $50m into Chinese venture capital fund
The fund has a special focus on artificial intelligence.
The reality of a UK fintech doing business in China
Exploring three key areas that UK fintechs need to focus on if they want to launch in China.
Two Chinese FIs live with TCS Bancs core banking system
Gansu Bank and Hunan Rural Credit Union in China have gone live with TCS Bancs.
Fintech funding round-up: 2 March 2018
Stars Blueprint Income, Wecash Technology and Everproof.
Ripple powers LianLian’s payments to China
Hong Kong-based money service will use xCurrent blockchain solution.
Alibaba acquires 33% stake in Ant Financial affiliate for fintech fuel
Looking to “participate in the future growth” of the fintech sector.
Union Mobile Financial Technology partners with transaction controls specialist Tranwall
Transaction control technology is headed to card and account holders in China, courtesy of UMF and Tranwall.
AWS opens second cloud region in China
Amazon Web Services now plans to open its second cloud computing region in China.
Google shows love for AI with new centre in China
Google has unveiled an AI centre in China as it searches out humans with ML talent.
Payoneer lands funding from China Broadband Capital
Cross-border payments company Payoneer announced today it has received funding from China Broadband Capital (CBC). While the amount of funding was undisclosed, the company specified that this week’s Series E-1 round follows the $220+ million Series E round received last year. This adds to the company’s total funding amount, which previously stood at $270 million.
Concur launches e-receipt solution for WeChat
Business expense management firm Concur has introduced a new receipt solution, integrated with China’s WeChat platform, that makes it easier for businesses and their employees working in China to track expenses and remain compliant, reports David Penn at Finovate (Banking Technology’s sister company). The technology, Concur e-Fapiao (it means “e-receipt”), gives employers real-time access to an employee’s […]
What WeChat’s domination in China tells us about mobile banking in the coming age of the super app
Through increasing functionality and by consistently pushing boundaries, super apps could have the power to influence, shape and even redefine m-commerce of tomorrow. Tom Wood, co-founder and managing partner of experience design agency, Foolproof, shares his insight on the opportunities that super apps could bring to m-commerce.
China CITIC Bank and Baidu launch direct bank, AiBank
China’s internet giant Baidu and one of the country’s largest lenders, China CITIC Bank, have joined forces to launch a new direct bank, AiBank.
Amazon selling part of China cloud business for $300m
Amazon is selling off a portion of its cloud computing business in China to a local partner, but the company still plans to compete in what is a growing market for cloud-based services and infrastructure, reports Enterprise Cloud News (Banking Technology’s sister publication). Beijing Sinnet Technology will buy a portion of Amazon’s cloud business for […]
China overtakes US in latest top 500 supercomputer list
The release of the semiannual Top 500 Supercomputer List is a chance to gauge the who’s who of countries that are pushing the boundaries of high performance computing (HPC). The most recent list shows that China is now in a class by itself, reports Enterprise Cloud News (Banking Technology’s sister publication). China now claims 202 […]
Geoswift partners with Bank of Shanghai for remittance services
Geoswift, a cross-border payments provider between China and the rest of the world, has unveiled its partnership with Bank of Shanghai to launch a new remittance service in 2017.
Old world aces new world
With sizeable market shares, China’s mobile payments giants Alipay and WeChat Pay are seeking international expansion. What’s next for the tech giants?
Daily News at Sibos 2017 – Day 3
Read our third Daily News at Sibos edition of the Sibos 2017 conference in Toronto – all the latest news and analysis from Swift’s premier event of the year. Free to read online or pick up a complimentary print copy if you are at Sibos!
Infographic: the world’s most cashless countries
What countries among the 20 largest economies are adapting quickest to using cashless systems like phones and contactless cards? New research (and nifty infographics) from global trading site Forex Bonuses reveals that Canada takes the top spot, narrowly edging out Sweden for the top position.
Fintechs – friends or foes?
Visa employees have a saying that “cash is our biggest competitor.” Mightier threats, however, are looming.
3 Reasons Asia Is the Perfect Incubator for Fintech Innovation
Fintech investments in Asia-Pacific reached $10.5 billion in 2016—the highest amount to date since 2010, according to CB Insights data. See what’s behind the boom and why it matters.
Ping An Securities live with Finastra’s FusionCapital tech
Ping An Securities has implemented a new front-to-back office securities brokerage platform, FusionCapital Summit, supplied by Finastra (formerly Misys).
Intel and Tencent team up for blockchain tech
Chinese investment holding company Tencent and US-based Intel have joined forces to co-operate on blockchain projects.
New state-controlled clearing house to process all payment providers’ transactions in China
Ant Financial, Tencent and 42 other payments and financial services firms in China have agreed to route their payments transactions through a new clearing house, controlled by Chinese government.
Three more Chinese banks join Swift’s global payments innovation
Three local Chinese commercial banks have joined Swift’s global payments innovation initiative (gpi), bringing the number of Chinese banks involved to 16, the most in the world, according to Xinhua. The new trio are Yinzhou Bank and Bank of Ningbo in eastern China’s Zhejiang province; and the Bank of Jiangsu, in the eastern Jiangsu province […]
China dreams of AI domination
The Chinese government has set out its bold vision to become a global leader in artificial intelligence (AI) by 2030. In a Cabinet statement, the government sees AI as integral to making China an “economic power” and is calling for the development of skills, research and educational resources to achieve “major breakthroughs” by 2025 and […]
Nvidia jumps in at the deep end with Baidu AI partnership
If Nvidia is looking to make a splash in the world of artificial intelligence (AI) it’s going about it in the right way, announcing a partnership with Baidu, one of the world’s largest internet companies. Banking Technology‘s sister publication Telecoms.com reports that cracking the Chinese market is an ambition which almost every technology company around the […]
Money20/20 Europe: Asia in the ascendant
Denmark took a back seat at Money20/20 Europe as the lively fintech scenes in China and India fell under the spotlight with a wealth of information and stats.
China’s central bank sets up fintech committee
The People’s Bank of China (PBOC) has set up a fintech committee, aimed at strengthening financial research, planning and co-ordination. On its website, the nation’s central bank doesn’t offer specifics about the new committee, but says fintech has “injected new vitality”, but also “brought new challenges” for financial security. PBOC will study the impact of […]
UK regulator calls for freedom not free-for-all
Like that lacklustre movie Braveheart, the UK’s Financial Conduct Authority (FCA) says you will never take away our freedom and the chances of a free-for-all for regulations will never happen. In a speech that had more repeats than the UK TV channel Dave, Christopher Woolard, FCA’s executive director of strategy and competition, told the audience […]
Temenos expansion plans turn to China and Japan
Temenos is looking to conquer the core banking software markets of China and Japan.
HelloPay merges with Ant Financial for AliPay boost
HelloPay Group, which runs the HelloPay payment platform and online shopping and selling site Lazada, has merged with China’s Ant Financial. Ant Financial, part of Jack Ma’s Alibaba Group, runs Alipay and so HelloPay has now been rebranded as Alipay Singapore, Alipay Malaysia, Alipay Indonesia and Alipay Philippines in its respective markets. Douglas Feagin, SVP […]
