PwC’s FinTech Insights October 2018

FinTech Insights

An exclusive look at the latest developments and evolving technologies in the FinTech space

FinTech news from around the world

Global insights handpicked by PwC

Why Chinese fintech lenders are flocking to the Philippines

Big players from China are not missing the fintech opportunity in the Philippines. Tencent Holdings has recently started operations in the Philippines through the funding of Voyager Innovations, a fintech company by telecom firm PLDT. Along with KKR, Tencent is putting in a total of US$175 million for a minority stake in Voyager. This transaction “marks the largest investment to date in a Philippine technology company,” says PLDT sources.

How credit card issuers can gain from machine learning

India has experienced a strong growth in credit card adoption—39 million cards were in circulations at the end of June 2018, which is a 25% year-on-year growth. While consumers continue to see credit cards as a convenient way to extend their purchasing capacity, with the ongoing payments’ disruption, the plastic credit cards as we know today, may not be part of the payments’ future. Take the case of UPI 2.0, which allows merchants to leverage overdraft facility as well as block funds in the customer’s savings account for future usage, functioning like a credit card in many ways.

What makes Singapore one of the world’s top fintech hubs?

The fintech industry is growing significantly and rapidly, all thanks to the overwhelming influence of digital technology. Many countries are exploring ways to prove their leadership in this sector but guess who is leading the race? A joint report from The Institute of Chartered Accountants in England and Wales (ICAEW) and the Institute of Singapore Chartered Accountants (ISCA) says that London and Singapore are excellent hubs for fintech activity.

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