The top finance stories for September 17, including the news on Mastercard winning fintech clients from Visa and Snowflake's IPO.
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How WhatsApp is driving ecommerce in the region, and a fintech startup looking to serve Vietnam’s underserved businesses.
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These companies are most likely to redefine the status quo in the financial system.
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Fintech in Indonesia is currently at 10% to 15% penetration nationwide, but industry sources are bullish about the next five years.
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Razer, a Singaporean-based gaming company, thrives during challenging times by innovating digitally, shifting its supply chain, and moving into fintech.
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"The public interest clearly requires that much more be done to detect fraud at its earliest stages," Di Sibio said in the letter seen by the FT.
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It will use the new funds to invest in its core technology infrastructure for data analysis, product development, and customer service.
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Money management and handling have all become digital, and fintech apps open a wide array of opportunities.At Appdupe, we offer advanced fintech app development services at affordable prices with robust features.Contact us to get your fintech app developed now.
Move over Apple, there’s a new fintech disruptor on the block. Meet Card V. Card — the world’s first competitive multiplayer bank account. Sound confusing? Let me break it down for you in simple words: a shared bank account that you get to spend from without depositing any funds. Yep, it’s practically free money. There’s one catch, though: there are 499 other people with access to the account that are rushing to bottom it out before you can. “Credit cards are inherently predatory,” the company says in its manifesto. “American Express is dying to layer gamification upon gamification until the… This story continues at The Next Web
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Increase in mobile applications across the globe and rise in the need to track & manage income of consumers drive the global personal finance software market.However, security and compliance issues in personal finance software and availability of open-source finance software hinder the market growth.On the contrary, rapid adoption of personal finance software across the developing countries is expected to create lucrative opportunities for the market players in the coming years.The global personal finance software market was pegged at $1.02 billion in 2019, and is expected to reach $1.57 billion by 2027, growing at a CAGR of 5.7% from 2020 to 2027.Covid-19 scenario:During such uncertain times, there is a significant increase in demand for personal finance software to manage bank accounts, investments, expenditure, and credit cards on a personal computer and smartphone.However, the spike in unemployment across the globe have negatively affected the market.The global personal finance software market is divided on the basis of product type, end user, and geography.Based on product type, the market is segmented into web-based software and mobile-based software.The web-based software segment held the largest share in 2019, accounting for more than half of the market.However, the mobile-based software segment is expected to manifest the highest CAGR of 6.4% during the forecast period.Read Full News: https://www.alliedmarketresearch.com/personal-finance-software-market On the basis of end user, the market is classified into small business and individual.
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This collaboration will initially focus on key markets for both organizations, namely in Singapore, Malaysia, the Philippines, and Vietnam.
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The Indonesian fintech company that thrives on the human touch, Amazon to possibly buy stakes in Reliance, and the startup that doesn’t forget your face
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China tech in Africa is still going global, chasing new growth and backing African startups focused on financial inclusion.
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The day’s finally here! Huawei‘s annual developer conference, HDC 2020, is taking place from September 10 – 12, at Huawei HQ in Shenzhen, China starting at 9 am today. Aside from the usual developer fare — including breakout sessions in fintech, gaming, ecommerce, and travel & navigation — we’re expecting a handful of hardware announcements, as well as the latest developments on HMS Core 5.0, HarmonyOS, and EMUI 11. You can find the agenda here. Follow along the live stream below for the latest, and scroll down for our up-to-the-minute event coverage and reactions.  Live blog Follow along with TNW’s live blog,… This story continues at The Next WebOr just read more coverage about: Huawei
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We’re now just one day away from Huawei’s annual developer conference, HDC 2020. Aside from the usual developer fare — including breakout sessions in fintech, gaming, ecommerce, and travel & navigation — we’re expecting a handful of hardware announcements, as well as the latest developments on HMS Core 5.0, HarmonyOS, and EMUI 11. HDC will take place from September 10-12 at Huawei HQ in Shenzhen, China, and you can watch the official live streams on the HDC page here. We’ll also be liveblogging the event tomorrow starting at 9 am CEST, so check back in for our reactions to the announcements… This story continues at The Next WebOr just read more coverage about: Huawei
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Advanced technologies play an important role in all sectors and help businesses and users to get their services done with simple clicks and saves time as well.The world has become more competitive with the latest technologies that come with customer expectations.What FinTech?Fintech is a term referred to describe financial technologies such as blockchain, mobile, IoT, and artificial intelligence to provide financial services users hassle businesses.And the report says that the ecosystem FinTech increased too rapidly in recent years.The highest adoption rate markets: China (69%), India (52%) against 62% in 2015 FINTECH Challenges in 2020FINTECH the companies have evolved rapidly with a modest primary bid in a process in areas such as banking, insurance, trade, and investment and financing services, these companies adopt direct in the industry.Although the FinTech change was in full motion for the last few years, there are many complex challenges that businesses are not yet FINTECH decide: Data protectionEvery financial company is trying to keep their data security for Internet sharing of cybercrime, like many industries FINTECH helps financial companies to protect their data with blockchain technologies that can help control the issue.Attracting new customersFINTECH companies are strongly contributed to increasing investment, but it poses challenges in obtaining new customers because each new bank FinTech establishes its application to their operations and reduce the dependence of others.
The fintech companies that are making waves in Asia and the startup that keeps on trucking in Indonesia
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Potential investors in the round include insurers Prudential and AIA Group.
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AI has made its presence felt in all walks of life due to its ability to help the user innovate.It has also enabled users to make faster and more informed decisions with an increased amount of efficiency.Of late, the banking sector is becoming an active adapter of artificial intelligence — exploring and implementing this technology in new ways.The penetration of artificial intelligence in the banking sector had been unnoticed and sluggish until the advent of the era of internet banking.One of the first steps was taken in 2015 by Ally Bank (USA) — introducing Ally Assist — a chatbot that could respond to voice and text, make payments on behalf of the customer, give an account summary, monitor savings, spending patterns, and use natural language processing to understand and address customer queries.Banks all over the world followed up with their best versions of chatbots: Erica to iPAL, Eva and the most famous one — SBI’s SIA.Banks are increasingly spending on artificial intelligence and ML in data analytics for personalized and faster customer experiences to garner the interests of the tech-savvy and the millennial class.To Know About: Rise of AI-Powered Chatbots in the Banking IndustryAccording to the FinTech Trends India Report by PwC in 2017, the global spending in artificial intelligence has touched $5.1 billion.The challenge now is in exploring more ways where the powers of artificial intelligence can be harnessed to streamline internal banking processes and improve customer experiences.Front end operations of artificial intelligence are those that involve direct interaction with the clients.It includes applications and payment interfaces, digital wallets, chatbots, or interactive voice response systems.
Visa faces a European Commission inquiry over its rules for fintech companies. It faces accusations of anti-competitive behavior.
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Amazon is expanding its fintech operations in India at a relentless pace.Insurance, gold, credit cards, auto insurance, having a digital wallet and executing online payments at large.The ecommerce giant is adding many items to its suite of fintech offerings.Amazon is also busy buying stakes in Indian fintech startups.These include Qwikcilver, BankBazaar, Tapzo, Capital Float and Acko.Cherry on top are ties with Orowealth and Kuvera.What's Amazon up to?And what's its endgame here?Click to read: https://transfin.in/amazon-amps-up-its-fintech-push-in-india
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The term "DeFi", Decentralized Finance - A team of Binance has made an announcement on its listing about a DeFi network token "KAVA".It would be the next technology that might bring an upgraded version of the FinTech network.In this article, we will be going to discuss the top & trending DeFi tokens of 2020, and how it performs better than other digital assets like bitcoin, etc.What is the DeFi Token?Decentralized Finance (DeFi) - It is upgraded financial networks that have created a huge impact and transformation across the entires FinTech network into decentralized & transparent.With the help of blockchain technologies like Decentralized Applications (DApps), smart contracts, and tokens, this can be achieved.DeFi tokens act as a medium for traders, it takes a vital role and also experiences the financial services in newly create DeFi apps.Trends of DeFi Tokens in 2020:Many DeFi related projects, products, and services are already in the queue.But the sectors gained a lot of attention towards the DeFi protocol are "Borrowing and Lending Platforms".
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Rise in digital initiatives for crop insurance and supportive government initiatives such as subsidies drive the growth of the global crop insurance market.On the other hand, untapped potential in emerging countries and expansion of services create new opportunities in the coming years.According to the report, the global crop insurance industry generated $34.05 billion in 2019, and is estimated to generate $53.02 billion by 2027, registering a CAGR of 6.1% from 2020 to 2027.Covid-19 ScenarioThe demand for crop insurance has grown during the Covid-19 pandemic due to disrupted supply chain and impact on crop revenue in major countries such as India and Brazil.Owing to the scarcity of laborers for harvesting and other activities, the crop production activities have been hampered, which in turn, raised the need for crop insurance.The need for reformation of a regulatory framework to overcome challenges faced by insurers and policy adopters has arisen during the pandemic.Policymakers have focused their efforts on the reformations.Read Full News: https://www.alliedmarketresearch.com/crop-insurance-market-A06791 The multiple peril crop insurance (MPCI) segment to maintain its leadership status by 2027Based on coverage, the multiple peril crop insurance (MPCI) segment contributed to the largest share in 2019, accounting for more than two-thirds of the global crop insurance market, and is projected to maintain its leadership status during the forecast period.Moreover, this segment is estimated to witness the highest CAGR of 7.1% from 2020 to 2027.This is due to its offering of a combination product along with perils covered by the standard loss of yield coverage under the crop insurance policy.The report also analyzes the crop-hail insurance segment.Based on distribution channel, the insurance companies segment accounted for nearly half of the global crop insurance market in 2019, and is expected to maintain its dominance during the forecast period.
Did you know Tunde Kehinde is speaking at TNW2020 this year? Secure your free online ticket now and join him in October. History has taught us that times of crisis drive demand for technological advancement. Those that leverage innovative technology, to tackle challenges and turn them into opportunities, are often the most successful in helping society to recover. Earlier this year, when the novel coronavirus sparked a global pandemic, physical distancing was enforced around the world to limit the spread of infection. This led to a surge in remote working and a spike in unemployment, sparking technological innovation within a number… This story continues at The Next WebOr just read more coverage about: Fintech
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The dual IPOs for fintech giant Ant Group are likely to be the biggest of the year, and Shanghai's fledgling STAR Market could see a major boost.
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AboutWe recently helped one of our clients which is a FinTech start-up company that was established in early 2019 in BGC, Taguig.They wanted to start their business in e-money, electronic payment, financial services, and all other related businesses.As per a report, the mobile payment industry in the Philippines is estimated to record a CAGR of 24.1% by the year 2025 with a total evaluation of US$ 19,816.4 million.Similarly, the mobile wallet payment segment will increase at CAGR of 24.2% during the phase of 2018-2025 in value terms.Our client was aware of this fact and that’s why wanted to establish themselves as a leading FinTech firm in the Philippines.And to achieve that, they needed a mobile wallet solution with cutting-edge features that can fulfill all their requirements.READ MORE : DigiPay helps its client to become a leading FinTech firm in the Philippines  
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Stock splits seem all the rage nowadays. While the ‘generous’ idea behind them is to make ‘too expensive’ stocks more accessible to a wider audience (read: retail investors), speculators are taking advantage by driving up the price ahead of the actual split, potentially leaving newcomers overpaying. With Apple and Tesla’s most recent stock splits, the phenomenon is getting a bad rep as a way to artificially create shareholder value, not attributed to actual company growth, or shrinkage of the amount of outstanding shares by way of share buybacks from the company itself. Now, a bunch of fintech services allow for… This story continues at The Next Web
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