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.