Friday March 16, 2018 –
Here are the new and noteworthy stories we have been following this week.
Israel’s Viola FinTech to expand fund size, bring in new partners
Viola FinTech is bringing in new partners and increasing the fund’s size to $150+ million.
China is at risk of a banking crisis, the Bank of International Settlements has found
The Bank of International Settlements (BIS) indicates concern for China’s banking system given its debt — measured by a credit-to-GDP gap and debt service ratio.
Ant Financial Consumer Lending Reaches $95 Billion
Ant Financial has $95 billion in consumer loans – larger than China’s second largest bank. This despite a tough securitization market.
Coinbase Gets a U.K. Money License and Barclays Bank Account
Coinbase obtained an e-money license of the UK and also opened an account with Barclays.
Amazon launches first debit card in Mexico e-commerce push
Amazon launched a debit card in Mexico (with Banorte and Mastercard) to cater to the unbanked population and drive e-commerce sales.
WhatsApp Could Shake Up Digital Payments in India
WhatsApp is piloting a P2P payment service in India – solid potential with a captive user base of 200 million people.
SARB to bring payment system in line with fintech innovation
The South African Reserve Bank (SARB) unveiled its Vision 2025, a strategy for the national payments system – focus on modernization, fintech engagement, and improved access.
Grab to offer loans, insurance with new fintech platform Grab Financial
Grab will be providing loans to consumers, micro-entrepreneurs and small businesses across South-east Asia in partnership with Credit Saison Co.
US Senate approves bill rewriting post-crisis bank rules
The new bill eases restrictions on small banks and community lenders.
Canadian SMEs want more digital payment options
According to a new Payments Canada survey, small businesses in Canada are looking for a modern payments infrastructure that encompasses greater choice for their customers as well as digital payment options for suppliers.
Ant Financial Invests $185M In Pakistan’s Telenor Microfinance Bank
Ant Financial Services Group has reached a strategic partnership with Norwegian telecommunications company Telenor Group to invest US$184.5 million for a 45% stake in Telenor Microfinance Bank (TMB), a microfinance bank in Pakistan and a subsidiary of Telenor Group.
Visa finance chief attacks bitcoin ‘bubble’
A top Visa executive has launched one of the most outspoken attacks yet from the financial establishment on the bitcoin craze, saying cryptocurrency was used by “every crook and dirty politician” and speculators who have “no clue.”