Established insurers will face a squeeze on profits and market share as new financial technology companies muscle in on the industry, a senior European Union official said on Wednesday. More fintech firms are expected to offer insurance, helped by the …
China’s surprise suspension of Ant Group’s record $37 billion listing is likely to delay rather than destroy its chances of a stock market debut though the financial technology giant’s valuation and growth prospects are set to take a hit. The …
HONG KONG/NEW YORK — China suspended Ant Group’s $37 billion listing on Tuesday, thwarting the world’s largest stock market debut with just days to go in a dramatic blow to the financial technology firm founded by billionaire Jack Ma. The …
Retail investors placed bids for a record $3 trillion of shares in Ant Group Co. Ltd.’s dual listing in an unprecedented show of interest by mom-and-pop savers betting on demand for its financial services in China. The total value of …
HONG KONG – Stella Su, who lives and works in Shanghai, has used an ATM only once in the past year. Instead of cash, in recent years she has done almost all her business using the digital wallet Alipay — …
CFC, a specialist insurance provider of emerging risks, has expanded its suite of products for financial institutions with the launch of a new product built specifically to cover the risks faced by organizations operating in the fintech space. According to …
Aritra Chakravarty, founder of London-based online accounts and investments provider Dozens, admits it’s a tough time to be seeking up to 15 million pounds ($19 million) for a start-up. “It’s definitely a bearish market” said Chakravarty, who is seeking funding …
Online insurance platform Policybazaar aims to go public in 2021 at a valuation north of $3.5 billion, potentially becoming the first of India’s mega-startups to debut as its digital economy booms. The startup plans to secure about $250 million in …
Allianz said on Wednesday that it was ending its relationship with Wirecard Bank and removing from the market a mobile payment app that the two companies had developed. The move is further fallout in corporate Germany amid an accounting scandal …
Wirecard collapsed on Thursday owing creditors almost $4 billion after disclosing a gaping hole in its books in Germany’s worst accounting scandal. The implosion of the payments company came a week after auditor EY refused to sign off its 2019 …
