NEC Corp. said Monday it will acquire Swiss financial software vendor Avaloq Group AG for 2.05 billion Swiss francs (¥236 billion) by April to strengthen its global financial services reach. The information technology giant hopes to add Avaloq's leading digital banking solutions to its own ...
Singapore wants cold war’s casualties, not cash
Amid the drumbeats of a U.S.-China cold war, the Southeast Asian island-state is often talked about as a sanctuary for capital looking to flee the clash of superpowers.
Lawmakers offer help to Japanese banks battling fintech firms
The ruling-party lawmakers are looking to make it easier for banks to expand into different industries.
Fintech-based financing thriving in Japan amid coronavirus crisis
A growing number of small and midsize companies affected by the coronavirus pandemic are utilizing "fintech," or the integration of finance and technology, as part of their fund procurement efforts. This is because fintech allows such companies to obtain loans within several days, as their ...
Intuit Inc., the software giant behind TurboTax, is buying personal finance website Credit Karma Inc. for about $7.1 billion in cash and stock. San Francisco-based Credit Karma has garnered more than 100 million users by offering free credit scores since it was founded in 2007. ...
Japanese banks' fortress mentality puts them on trailing edge of fintech revolution
Japan's effort to nudge its more than 100 struggling regional lenders into the digital age is floundering. More than a year after rules to spur open banking were issued, small lenders are stuck in a back-and-forth with startups over fees for access to client account ...
Toshiba touts PC algorithm that's faster than a supercomputer
It's a tantalizing prospect for traders whose success often hinges on microseconds: a desktop PC algorithm that crunches market data faster than today's most advanced supercomputers. Toshiba Corp. says it has the technology to make such rapid-fire calculations a reality — not quite quantum computing, ...
SoftBank-backed OneConnect sees valuation tumble in U.S. IPO
Ping An Insurance Co.'s OneConnect Financial Technology said Thursday it raised around $312 million in its U.S. initial public offering, valuing the company at around $3.7 billion. OneConnect sold 31.2 million American depositary shares (ADS) at $10 each. Earlier this month, it had aimed to ...
Investors pour record $735 million into Singapore fintech deals
Investors poured a record $735 million into financial-technology ventures in Singapore in the first nine months of this year, according to research from Accenture PLC, which analyzed data from CB Insights, Pitchbook and Tracxn. That's up 69 percent from the same period a year earlier ...
Sony and Daiwa Securities eye ¥20 billion fund to invest in high-tech start-ups
Sony Corp. said Wednesday it will set up a venture fund of around ¥20 billion ($185 million) with a Daiwa Securities Group Inc. unit to invest in prospective startups. Innovation Growth Ventures Co. has been established by Sony and Daiwa Capital Holdings Co. to support ...
Line hopes app's links with Japan's Mizuho and Nomura can open 78 million wallets
Line Corp. is betting that tie-ups with Japan's biggest financial institutions will help convince its 78 million users to entrust the free texting app with their money. The operator of Japan's most popular messaging platform plans to introduce the Line Securities equities trading service jointly ...
Fintech can address Asia's inequality
Innovations in finance technology can increase the level of access to capital and financial inclusion in Asia.
