August 30th, 2016 by: Grow VC Group

The Bank of Japan (BOJ) returns talking about the adoption of financial technology in their system in a seminar hosted at their HQ in Tokyo July 29. This comes after the central bank announcement this year in April to have established an in-house section at the BOJ in charge of fintech to explore the opportunities and to offer guidance to financial institutions seeking to step into the fintech market.

Haruhiko Kuroda, BOJ Governor, declared that the Japan’s central bank may apply financial technology to its operations in the future considering its rising importance of international payments and financial services, adding that “the BOJ is ready to make its best efforts to support the sound development of fintech to enhance the welfare of financial service users as well as economic activities”.

According to Reuters, Japan is now as planning to ease investment restrictions aiming to increase the money invested in an economy that has an estimated $9 trillion of individuals’ cash deposits and with Japanese banks now looking to increase their profitability through fintech.

Read more at Crowd Valley News.

Tokyo fintech

Photo: Wikipedia.

August 25th, 2016 by: Grow VC Group

According to the World Bank’s Global Financial Inclusion Database, only 51% of the population in Latin America and the Caribbean has a bank account. This figure varies greatly between countries, with more than 80% of the adult population remaining ‘unbanked’ in Nicaragua for less than 35% in Brazil and Costa Rica.

Furthermore, it means that millions of people have to use cash for each transaction across the continent. With for instance, 96% of the population paying its utility bills in cash – which is more than 3 times the level than can be observed in the United States or the Euro Area.

​Likewise, half of the population receive its wages in cash and overall, almost 40% of all wages are withdrawn right away. Far from what can be observed in the West: only 10% of the wages are received in cash, and between 4% and 7% of all wages are withdrawn right away.

With so much cash circulating, issues of safety inevitably arise, and without a bank account it becomes harder to invest or save for retirement. Something even more problematic in countries known for the fluctuations of their respective currencies.

Beyond the way Fintech disrupts existing models in Latin America, it is also becoming a way to achieve financial inclusion in the region. Mobile money services, credit ratings based on alternative data, new ways of financing SMEs, personal lending…if different in nature, innovative financial technology services are ways to bypass regional issues, and ultimately grant people and businesses an access to appropriate financial products and services.

At Crowd Valley, we are already actively working in the region and look forward to partnering with both established organizations and new innovators to provide more services and value to the end users as the financial services market continues its modernization in Latin America.

Read the whole article on Crowd Valley News.

LATAM fintech

August 18th, 2016 by: Grow VC Group

The adoption of equity and debt crowdfunding has left most if not all policy makers and regulatory bodies challenged to find the right framework to properly regulate the array of platforms launching into the market. These platforms have given accredited and retail investors alike access to alternative investments they would not otherwise have. One area overlooked by most investors and now being addressed by regulatory bodies is investment liquidity.

The first regulatory commission to have an open sandbox discussion is the UK’s FCA. In the most recent “Call for Input”, liquidity was referenced a number of times within the review of lending based crowdfunding. Liquidity in equity crowdfunding has been a hot topic earlier in the year. This open conversation and eventual drafting of regulation will no doubt mirror how other countries solve this issue.

Crowd Valley’s close cooperation with the FCA and UK crowdfunding market already sees its clients utilizing the secondary market API developed in anticipation of the markets needs and potential regulatory policy. Other crowdfunding pioneers like Crowdcube have recently committed to providing increased liquidity and access to a secondary markets for their investors. We anticipate other countries like the US, Singapore, Malaysia, Japan and Canada to adopt similar framework in the near future.

This also opens up the opportunity for tertiary digital finance businesses to pair with existing platforms to aggregate their secondary market opportunities. There are already examples of data aggregators such as Deal Index in the market. With the personal view of great future opportunities in primary and secondary market deal aggregation being facilitated by the “API economy”.

If you are looking  to capitalise on collaboration within the fintech space, get in touch with us at Crowd Valley to leverage our full offering and industry leading Digital Back Office that bridge the gap into fintech.

Read the whole article on Crowd Valley News.

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August 16th, 2016 by: Grow VC Group

The Fintech O2O initiative began in 2015 as a monthly meetup in Hong Kong, co-organized by Cyberport and NexChange. The idea was simple – bring together like-minded professionals who recognize the impact of technology on traditional finance to network and discuss pressing topics. The initiative has welcomed 2,000+ professionals from 20+ countries. Now in its second year, the initiative has grown into a global series with events planned in New York, London, Toronto and Shanghai.

Grow VC Group Founder and Chairman Jouko Ahvenainen is a key note speaker in the event. His topic is “Bringing traditional finance and fintech together: Can’t Fight This Feeling Traditional finance and fintech don’t need to constantly be at odds. Can’t we all just get along?” Mr. Ahvenainen talks about digital hybrid finance models that combine fintech and traditional finance services, and make finance services more effective, transparent, and democratic.

To continue to serve the community in Hong Kong and globally, Fintech O2O is setting the stage for its first multi-day conference.

Register now to join 400+ professionals and 35+ speakers from 35+ countries!

When: Tuesday, September 27, 2016 at 9:00 AM – Wednesday, September 28, 2016 at 4:00 PM (HKT)

Where: Hong Kong Island – L3, Function Rooms 3, Cyberport 3 (Core F), 100 Cyberport Rd, Hong Kong, Hong Kong , Hong Kong Island, Hong Kong

To see the list of speakers, the agenda and to register for tickets, click here.

fintech o2o hong kong

August 14th, 2016 by: Grow VC Group

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