FinTech Daily News – Edition 40, 28.08.2017
August 28, 2017
FinTech Daily News – Edition 42, 30.08.2017
August 30, 2017

FinTech Daily News – Edition 41, 29.08.2017

FinTech Daily News

by Florin Oprea

Edition 41, 29.08.2017

Deals, Investments & M&As

Singapore Blockchain Startup Bluzelle Raises US$1.5M In VC Funding To Revolutionise Data Storage

E27

A blockchain-enabled decentralised database makes the data immutable and allows them to be transferred more quickly.

FAO: Participants in this Series A round are Global Brain, LUN Partners Capital and True Global Ventures.

Insurance

China’s Top Insurers Ploughing Billions Into Fintech

Enoch Yiu – SCMP

China Life and Ping An Insurance, the country’s two largest insurers, have both been focusing heavily on investment in technology, and now it appears artificial intelligence (AI) may becoming more important than sales agents across the sector, as premium income continues to soar.

FAO: A section with a pretty rare presence in our daily bulletin – no surprise that today’s content comes from China. The largest insurer by market value, Ping An, is also scouting for fintech companies in the United States, Israel and Singapore, as reported last month.

Business tech

Mark Cuban Behind New Blockchain Messaging Platform

Katie Roof – TechCrunch

Billionaire entrepreneur and investor Mark Cuban has been advising chat app Dust for the past few years. And now, Radical App, the group that oversees Dust, is adding two more properties.

The team will be releasing its Mercury Protocol blockchain messaging technology by the end of next month. The business also will be introducing Broadcast, a social media platform that targets online harassment.

FAO: Mark Cuban has shown a lot of interest for blockchain lately…he is also investing in 1confirmation, a cryptocurrency fund – more details in our sister publication Blockchain Daily News.

Retail banking

Big Banks Strike Partnerships With Technology Companies As Part Of Fintech Wave

Maggie Zhang – SCMP

Bank of Communications, the nation’s fifth biggest lender, joined with Suning Holdings and its financial affiliate Suning Finance as strategic partners last week, the latest of the big five banks to ally with internet firms.

So far, all big-five banks, accounting for more than one-third of China’s banking assets, have allied with technology giants.

FAO: …and here are the other four win-wins – Alibaba Group’s Ant Financial & China Construction Bank, JD.com & Industrial and Commercial Bank of China, Baidu & Agricultural Bank of China, Tencent Holdings & Bank of China.

Latest Developments & Agreements

How Blockchain Is Redefining the Future of Commerce

Tomas Laurinavicius – Huffington Post

Probably the most significant benefit of blockchain in commerce is cost reduction. Today, business transactions run through a complex network of vendors, including credit card networks, banks and payment processors. Blockchain removes all the unnecessary middlemen allowing for cheap, quick and reliable peer-to-peer transactions.

Regulation

Fintech’s The Target: Chan

The Standard

Hong Kong Monetary Authority (HKMA) CEO Norman Chan Tak-lam said the authority is working with stakeholders in the financial industry to promote the development of fintech.

The authority is also cooperating with Singapore to look into the launch of blockchain technologies related to trade and finance.

FAO: HK is cooperating with everybody, Dubai also, check the next article…

Hong Kong Teams Up With Dubai To Promote Fintech Innovation

Enoch Yiu – SCMP

The Securities and Futures Commission has entered into a cooperation agreement with the Dubai Financial Services Authority (DFSA) to establish a framework for the two regulators to help each other develop the fintech industry.

Accelerators & Hubs

Singapore Fintech Hub LATTICE80 Announces UK Expansion

Samantha Hurst – Crowdfund Insider

Marvelstone Group’s LATTICE80  is set to open a fintech hub in London as part of its global expansion.

FAO: LATTICE80 started a very aggressive development. The Singapore fintech hub has recently announced its plans to open an India office (here)

H2 Ventures Eyes Global Expansion And Data And AI Start-Ups After Fresh Intake

Yolanda Redrup – AFR

Sydney-based fintech accelerator H2 Ventures is preparing to take its program international and expand into artificial intelligence and big data after doubling its intake of startups.

FAO: Yip, Sydney is moving good too…

 

FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News