Launched earlier this year, Digital Village is an initiative of KPMG aimed at stimulating collaboration between corporates and the startup community. KPMG Digital Village works as a platform connecting firms that are looking to innovate as well as potential investors, with startups and research and development houses to “turn innovative ideas into practical solutions.” KPMG Digital Village focuses on three particular areas: fintech, healthtech, and logtech, for which it has partnered with AIA Edge Lab and most recently SCAngels, the venture arm of YCH Group, to build a robust logistics startup ecosystem with strong networks in Singapore. In a recent…
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Hong Kong is the number one business city in Asia. It is the perfect base for companies that want to do business in Mainland China and across the region. Hong Kong will host its first Fintech Week in early November to position the city as the premier centre in Asia for Fintech companies and start-ups as well as for accelerators, incubators and investors searching for Fintech innovation, Invest Hong Kong announced. Secretary for Financial Services & the Treasury Prof KC Chan, together with 400 guests, attended a launch event in which InvestHK announced the programme details. Hong Kong Fintech Week…
With a population of over 255 million people – among which 60% are digital native – and growing mobile phone and Internet penetration rates, Indonesia has been perceived as an untapped market opportunity, according to a new report by Fintechnews. Indonesia’s fintech startup community With only 25% of the population – 60 million Indonesians – having a bank account, fintech holds the promise of delivering affordable financial services to the underbanked population. While the Indonesian startup community remains relatively small with a little over 45 ventures, it covers a wide range of sub-segments. Similarly to other markets, payments…
Bento, a company of Mesitis Capital, is a bionic investment advisor that merges algorithm-powered asset allocation models with a human touch that promises better portfolio performance, productivity and user experience for a fraction of the cost of a traditional human-only advisor. A bionic advisor is at the intersection between robot and human. Unlike a robo-advisor which a fully automated solution in which technology takes the place of a human advisor, a bionic advisor makes smart use of technology to enhance client relationships. The bionic advisor will typically interact with the client via a portal, use algorithms to test out strategies,…
The Monetary Authority of Singapore (MAS) and the five local polytechnics (Nanyang Polytechnic, Ngee Ann Polytechnic, Republic Polytechnic, Singapore Polytechnic and Temasek Polytechnic) have agreed on a framework to review and enhance the polytechnics’ curricula in the next three years to prepare and equip their graduates with the skill sets necessary to take on the new FinTech-related jobs emerging in the financial sector. MAS and the polytechnics signed a Memorandum of Understanding to guide this effort. More than 2,500 students who are enrolled in the banking and IT-related courses in the polytechnics each year will benefit from this initiative. The…
It’s cheaper to create an old customer than it is to get a new one, they say. But how do you pull off something your customers or clients will love? Here are six creative suggestions you might want to try for your next webcast: Invite a speaker they love CIO says seminars delivered through webinars are an excellent way to keep the relationship with your consumers alive and well. And one way to ensure customers will come in droves is to invite a well-known speaker to the event, one your customers love. That’s one of the best ways to drum…
International fintech-focused venture capital firm Life.SREDA signed a memorandum of understanding with Leonie Hill Capital (LHC), a Singapore-based private equity fund, to become strategic partners in the the area of investments into financial technologies (FinTech) in Asia. According to the MOU, LHC intends to become a strategic investor (limited partner) in Life.SREDA’s Asian FinTech fund, while Wee-Meng Thoo, Head of Investments at LHC, will be joining Life.SREDA team to be a part of fund management company, which already includes Vladislav Solodkiy and Igor Pesin. The contract should be signed after the deal is approved by MAS. The investment amount can…
There are many talks about “Digital Transformation” recently, but what does it really mean, and why is it called a disruption? Depending on how you perceive it, this term may be just a fad to you, or it may mean the beginning of an outright evolution in your company. An article by Vincent Leung, an internationally experienced Digital Marketing and Communications expert who has held digital strategy presentations in Hong Kong, Singapore, and Paris. Currently, Vincent is in charge of BNP Paribas’ Group digital branding and content strategies in Asia Pacific. Instead of only using the usual technical perspective to see…
Manulife has opened a new Lab of Forward Thinking (LOFT) location in Singapore. Singapore, a technology hub for Asia, hosts the third LOFT site for Manulife. The other labs are in Boston and Toronto. The LOFT is a global exploration and incubation capability to build Manulife’s competitive advantages within the financial services industry – one ripe for disruption. The LOFT provides a platform for employees to collaborate and devise new technological solutions for the Company’s wealth, asset management, and insurance customers. “We are using emerging technologies and platforms such as blockchain and artificial intelligence to build competitive advantages,” said…
Ken Research announced its latest publication on “The Cards and Payments Industry in Vietnam: Emerging Trends and Opportunities to 2020” offer insights on the changing trends and key issues within the Vietnam Cards and Payment Industry. The publication includes an insightful analysis ofmarket trends in Vietnam’s cards and payments industry, values and volumes for a number of key performance indicators in the industry. Including credit transfers, direct debits, payment cards and check payments during the review period (2011-2015), Current and forecast values for each market in Vietnam’s cards and payments industry, overview of the country’s key alternative payment instruments, Analysis…
With changing regulations, increasing investments and support from domestic banks, fintech is poised to take off in Japan. Lots have happened in Japan since the beginning of the year for fintech with a number of new rulings and moves from the public sector being introduced to foster the domestic industry. In April, the Financial Services Agency (FSA), the body that regulates the financial sector, formally announced the establishment of a Fintech Expert Panel, whose purpose is to “promote fintech startup growth regardless of borders.” The move followed the establishment of a fintech “support desk” by the authority in December 2015.…
KPMG has released a new report naming the top 50 fintech ventures in China, which include Ant Financial, Baidu Finance, Dianrong.com, WeBank and Zhongan Insurance. The report, titled 2016 China Leading Fintech 50, aims at promoting the industry’s growth by highlighting the leading mainland companies in fintech. These companies were selected by over 20 senior partners from KPMG international member firms and KPMG China. “China is fast becoming one of the leading fintech markets globally and an important innovation center in the fintech sector,” said Arthur Wang, head of China banking at KPMG China. “The companies shortlisted were distinguished by their…
The pace of global change in financial services continues to accelerate as market incumbents, emerging FinTech startups and newcomers of every kind try to offer more sophisticated yet convenient means of moving money. Nowhere is this trend more apparent than in Hong Kong; the city that prides itself on being the financial gateway to the rest of China as well as a hugely influential international finance hub in its own right. An emerging shift in financial and economic influencing factors means that Hong Kong’s status as the primary financial hub in China is under threat from the rest of the mainland,…
Hong Kong is making a move to challenge Singapore and others as the dominant location for fintech in Asia. Hong Kong in specific led the growth of the blockchain market in northeast Asia, with its friendly regulatory frameworks and policies for digital currency and blockchain-focused platform providers. In contempt of the advanced banking systems and financial platforms offered by the city’s multi-billion dollar banks and financial institutions, a substantial portion of the Hong Kong population currently utilizes non-bank payment platforms and applications to send cross-border payments and settle international transactions efficiently. FintechNews has made a list of fintech events in…
The following list complements a previous article we published in September 2015 which included a selection of some of Singapore’s most notorious incubators and accelerator programs including Startupbootcamp Fintech Singapore – which will open up applications for startups on November 01 -, TCF-PnP Program, InspirAsia, the Joyful Frog Digital Incubator, Fatfish MediaLab, PACT Incubator, FocusTech Ventures, East Ventures, Jungle Ventures, WaveMaker Labs and 10k. For this selection, we have selected some of the top acceleration and incubation programs, as well as startup competitions, available to Singaporean fintech ventures. Most of these are led by top banks and tech firms and…
After Singapore’s central bank made the decision in 2015 to turn the country into the fintech hub of Asia, fintech has suddenly become the new buzzword across the South East Asian region. South East Asia has long been at the coat tails of the international development of financial technology, but with member countries rolling out new regulatory frameworks, the region is poised to become a new fintech leader worldwide. All is well and good, but in a region where millions are still living without any bank accounts, one can’t help but wonder how exactly will fintech change the landscape of…
Ant Financial, Alipay’s parent company and Alibaba’s financial-services affiliate, is said to be worth US$75 billion, according to Elinor Leung, the head of telecom and Internet research at CLSA in Hong Kong. According to a Bloomberg report, Leung estimates that Ant Financial’s Alipay is worth US$50 billion, its micro loans service US$8 billion and its wealth management unit US$7 billion. The rest of Ant Financial’s valuation comes from investments and cash on hand. Ant Financial was founded in October 2014 by the Alibaba group after the Chinese e-commerce giant went public in the US. Ant Financial is controlled by Alibaba’s…
Since its release, Pokemon Go has been breaking records in both the Apple and Android app stores. Apart from being one of the most popular mobile games ever, what impact has Pickachu and his pals had on businesses? In this infographic we see how Pokemon Go influenced the stock market and economy. This infographic is from brokernotes.com
A world without banks is coming closer. A new report by the Massachusetts Institute of Technology (MIT) investigates how legacy banks will unquestionably come to an end and the possibility of the future ‘invisible banking’. Existing banks seem fail to keep up with digital transformation “Banks are trying to be cool and hip and build super cool digital front ends… But it’s like putting lipstick on a pig – ultimately it’s still a pig and the new front end is still running into an awful digital back end.” – Mark Mullen, Chief Executive Atom, Durham, UK The report, ‘Digital Banking…
Leading independent wealth management firm collaborates with Pershing and Bambu to bring bespoke digital investment solution to affluent investors. Crossbridge Capital, an independent wealth management firm which provides investment solutions for ultra-high net worth families, today announced plans to launch Singapore’s first digital advisory platform for accredited investors*. The platform is being developed in collaboration with industry-leading asset management and technology firms, including Bambu and Pershing, a BNY Mellon company. Designed to deliver a premium wealth management experience, it will enable users to take control of their investments and seamlessly access and manage tailored products chosen to match their investment…