Issue 280 · Aug 27, 2020 Weekly edition · 3 min read

Fintech News

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What Is Ant, the Chinese Fintech Giant With Big IPO Plans?

The Chinese fintech titan Ant Group—co-founded by Alibaba billionaire Jack Ma—is set to go public in what could be one of the largest listings ever. WSJ explains how Ant's backbone service, Alipay, has revolutionized payments and investing in the world's most populous country. Photo Composite: Crystal Tai

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In this issue · 11 items

Insurance Getting A Fintech Facelift Forbes — Traditionally viewed as a stodgy industry, insurance is slowing playing catch-up with the help of technology. Open story ↗ Fidelity President Files For New Bitcoin Fund Forbes — Fidelity president and director of digital funds Peter Jubber today filed paperwork with the U.S. Securities and Exchange Commission (SEC) informing the regulator of a new fund dedicated to bitcoin. Open story ↗ Passion Capital has backed Fronted, the startup that wants to offers loans to cover rent deposits Tech Crunch — Fronted, the new London-based startup aiming to make life easier for renters, including lending the cash needed for a deposit, has picked up seed investment from Passion Capital. Open story ↗ Wirecard innovation team moves to Berlin-based fintech Reuters — A technology team from Wirecard (WDIG.DE), the German payments company that collapsed in June, is joining a new digital innovation unit being set up by Berlin financial technology group finleap. Open story ↗ Decades old software led to Citi's $1 billion transfer headache Finextra — Citi says defective software dating from the 1990s was the cause of a $1 billion wire transfer screw up earlier this month. Open story ↗ Coronavirus will accelerate the fintech revolution Raconteur — Fintech has long been a sector on the rise, but could the coronavirus pandemic finally be the thing which makes financial technology the norm for everyone? Open story ↗ CBA rolls out high-speed lending system for SMEs Finextra — Commonwealth Bank of Australia has unveiled BizExpress Online, a fast-speed lending system for small businesses available through Netbank and the CommBank app. Open story ↗ How OSL Became the First Crypto Exchange to Win Over Hong Kong Regulators Coindesk — When Hong Kong regulators gave crypto firm OSL a nod of approval last week, it was the icing on the cake for the HKEX-listed digital asset trading platform. Open story ↗ Early Stage Fintech Hit Hardest From Pandemic Forbes — The coronavirus epidemic that began in March has had lasting economic consequences whose full ramifications are still far from clear. While the markets were down by 35% early in the crisis have bounced back, the financial services space has seen mixed results. Open story ↗ China’s banks must innovate to help small businesses weather ‘complex and severe’ economic environment South China morning post — People’s Bank of China governor Yi Gang has called on banks to help small businesses weather the severe economic environment through fintech innovation Open story ↗ Hong Kong’s future lies with fintech, and it will be bright South China morning post — Hong Kong is the gateway for Chinese companies to launch internationally, and companies seeking to reach China and Southeast Asia Open story ↗

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What Is Ant, the Chinese Fintech Giant With Big IPO Plans?

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