Telepin Software powers Valyou Mobile Wallet in Malaysia
Unique mobile financial services platform delivers affordable, convenient mobile money solutions to under-banked market. Telepin Software, a global leader in mobile money transaction platforms, announces that it is now powering the mobile financial services for Valyou, a Malaysian-based licensed money services business that provides multi-country international remittance services. The Valyou mobile wallet is an easy, secure way to store and manage cash from a mobile device; a convenient e-money solution aimed at serving the under-banked segments of Malaysia, such as youths, lower income earners and migrants. It is simple-to-use, secure, offers more benefits the more one uses it, puts customers fully in charge of when, where and how they handle […]
IBM is continuing its blockchain push
Tech giant IBM has been working on making itself a global leader in developing blockchain use cases for financial services, and on Wednesday, it announced yet another project. IBM will develop a blockchain-based supply chain finance solution with Mahindra Group, one of India’s largest conglomerates, according to Bezinga. The new platform will use a permissioned blockchain and be designed to optimize processes involved in supply chain finance, with particular emphasis on invoice discounting. Supply chain financing is typically laborious. Many transactions between suppliers, buyers, and any financing parties involve paper invoices that have to be mailed and require the manual inputting of documents into each participant’s respective system. This greatly […]
Fintech firms get chance to grow up as US offers charters
Over the past decade, there’s been an explosion of Silicon Valley start-ups and technology companies that act like banks. Now, a key US regulator is inviting them to be regulated more like traditional lenders. The Office of the Comptroller of the Currency said on Friday it plans to start accepting applications from fintech companies for a special charter that would formally subject them to federal banking rules. Companies that become chartered will get the benefits of being an established company in the eyes of the government. But they will also face anti-money laundering controls and consumer protections that apply to other lenders, the OCC said. “Preferences and needs of consumers, […]
Can the internet revolutionise finance in China?
Internet finance in China has developed rapidly over the past several years. Internet finance embraces a huge range of activities, including third-party payment, online lending, direct sales of funds, crowd-funding, online insurance and banking and digital money. Public sentiment towards internet finance has moved the full gamut from fever pitch to fear. What is the future of internet finance? Optimists argue that internet finance represents a third type of financial intermediation, after direct and indirect financing, which could completely revamp traditional financial industries. Others point out that internet finance is mainly a Chinese phenomenon: a product of regulatory arbitrage, which could evaporate once financial regulations tighten to levels equivalent to […]
Xero and Receipt Bank scoop bookkeeping Oscars
Cloud accounting tools demonstrated their growing influence with a string of victories in the annual ICB Luca Awards. Styled by the institute as the “bookkeeping Oscars”, the awards were presented by ICB patron Prince Michael of Kent on Tuesday night at Mansion House in London. The highbrow venue was selected to celebrate the ICB’s 20th anniversary. In all, 22 Luca Awards were presented to individual bookkeepers and students, bookkeeping frims, trainers, “thought leaders” and international employers (see below for highlights). But the changing shape of the profession was best illustrated by the software categories, where Xero beat out Sage 50 and QuickBooks to both the payroll and bookkeeping prizes. AccountingWEB […]
Australians are starting to think robot financial advisers might be a good idea
The use of automated investment services, or robo-advice, is still small in Australia but is growing fast. The latest research by analysts Investment Trends shows 27% of online investors have heard of robo-advice, up from 19% just six months ago. Robo-advice, the field of online investment and savings platforms where face-to-face is replaced with automated guidance and execution, is growing via a series of fintech startups in Australia including Stockspot. “Many investors are taking notice of robo-advice, and have an interest in learning more about this potential digital disruptor in the financial services industry,” says Investment Trends research director Recep Peker. “Robo-advice will take centre stage as more solutions become […]
Stripe’s valuation nearly doubles to $9.2 Billion
The most valuable U.S. financial-technology startup is extending its lead. Stripe Inc., whose software is used by businesses to accept and track digital payments, will be valued at $9.2 billion in a new funding round that is being completed, the company said. That valuation, which includes roughly $150 million in new cash being raised, nearly doubles the privately held company’s $5 billion price tag in a July 2015 round. Stripe was already valued higher than other U.S. “fintech” startups such as Social Finance Inc. and Betterment Inc. The leap comes as other fintech firms and some Silicon Valley tech startups struggle to maintain their valuations. Payments company Square Inc. has […]
Trov, the world’s first on-demand insurance app for single items, launches in the UK
Trov, the company reinventing insurance for the mobile generation, today launches its world leading on-demand insurance platform in the UK, in partnership with AXA Insurance. For the first time, people in the UK can easily insure just the things they care about, entirely from the convenience of a mobile app. With a simple swipe, users are provided with a personalised quote and can quickly turn insurance on (or off) for an item without the need for any interaction with a traditional insurance agent. Items protected through Trov are covered internationally against accidental damage, loss, and theft. At launch, Trov is offering protection for common electronic items, such as laptops, mobile […]
