Posts published on March 2017

Toucan Weekly Round Up – 27 March 2017

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Fintech, Mobile Wallet and Bitcoin Focused Articles

Ethereum: The not-Bitcoin cryptocurrency that could help replace Uber

Ethereum is a decentralized application that supports a cryptocurrency just like Bitcoin. You can pay for things online, trade money, and buy and sell anywhere that accepts it. The difference is that Ethereum’s cryptocurrency, known as Ether, runs on a “smart contract” blockchain technology and “if:then” system that allows Ethereum to only be traded if a certain condition is met. This new payment method that incorporates smart contract technology could one day replace lawyers, companies, and even Uber.


Southeast Asia’s Fintech Pivot

Grab is raising a fresh US$1.5 billion in capital to bolster its own payment platform while Go-Jek’s mobile wallet Go-Pay has become the fourth most widely-used e-wallet in less than a year of existence. These moves by two of Southeast Asia’s fastest-rising tech firms are part of a larger trend, a regional pivot towards Fintech. This pivot is significant as payments is the last frontier of e-commerce in Southeast Asia and cracking payments could help make Southeast Asia’s online marketplaces financially sustainable.


Singapore Fintech Startup OOjiBO raises US$3.6M to serve the unbanked

OOJiBO provides a full stack retail banking system on a mobile phone and offers a full suite of services from p2p transfers, retail payments, interest bearing accounts, e-commerce payments, cross-border remittance, cash services, debit/credit card virtualisation and utilities payment. It can be used on both smartphones and feature phones. In areas where data connections are poor or non-existent, the OOjiBO system will automatically switch to an STK (SMS) format, allowing it to deliver financial inclusion to people living in rural areas or places with frequent electricity outages.


Unionbank launches the New Eon with Daon’s Biometrics-based strong authentication

Union Bank has launched the New EON, a digital banking platform, that uses Daon’s IdentityX Platform and its capabilities in mobile biometric authentication to improve security and customer experience. Working with Daon, EON has employed a layered approach to security, including device cryptography and biometric verification to lock down their mobile channel and secure high risk transactions. EON has initially deployed fingerprint and face authentication with subsequent plans to enable additional biometrics like voice recognition.


MENA Fintech Startup Now Money wants to help everyone get access to banking

Now Money was launched by its founders to provide expat workers who don’t have access to banking and remittance services with direct access to a current account, debit card and remittance from their proprietary app and service center. Customers can monitor their transactions, remit money and pay utility bills conveniently from the app. Users can also access multiple online exchange houses and select one based on the rate and services offered.

Toucan Weekly Round Up – 13 March 2017

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Fintech and Startup Focused Articles

This fintech startup is disrupting Korea’s banking sector, rewriting regulation

Toss is a simple and sleek money transfer app that is Korea’s answer to Paypal’s Venmo. The app reduces the mobile banking process to three steps: type in the recipient’s bank account or phone number, set the amount, then input your password or scan your fingerprint on your phone. Toss has also steered beyond transfers, adding microloans, credit score management, and a handy personal finance dashboard. Next up on the agenda is adding overseas transfers, loan brokerage, and insurance.


Ex-Credit Suisse Trader Sees Two-Year Card Startup Making Profit

Revolut is a startup that sells prepaid travel cards that can be loaded with different currencies. Revolut makes money by charging fees on ATM withdrawals and taking a cut from merchant charges on payments in shops. Since it began in July 2015, the company has processed more than $2 billion in foreign-exchange transactions. The company plans to expand into insurance at the end of March and wealth management from April or May this year through partnerships with third-party companies.


5 reasons why paperless finance is the way to go

The prospect of paperless finance will make long waiting lines, inefficient procedures, tedious paperwork, and other hassles associated with slow banking services a thing of the past. Loan processing could also be made much easier, setting up accounts online could become much more convenient than going to a bank.


New Framework to help set up fintech firms in S’pore and Japan

Fintech firms in Singapore and Japan can look forward to an easier set-up process in either country, thanks to a new framework. Monetary Authority of Singapore (MAS) and the Financial Services Agency of Japan have set up a cooperation framework to boost fintech links between the two nations. This effort will help reduce regulatory uncertainty and barriers to market and firms can also initiate discussions with the regulatory bodies, and get advice on regulatory matters such as required licenses.


Singaporean startup raises $2.4m to bring its AI-powered digital marketing tools to mobile.

Singapore-based startup Ematic integrates into a business’ email service and produces insights to help target its communications better. A suite of tools helps it analyze data and design more effective marketing campaigns. This helps businesses navigate through a fine line between successfully engaging your customers and spamming the daylights out of them, staying on the good side of the line. App operators will then be able to feed their users’ behavioral data into their email marketing system and benefit from Ematic’s analysis and automation.