Babel Finance Now Valued at US$2 Billion With US$80 Million Fundraise

Babel Finance, a Hong Kong-based wholesale crypto financial services provider, announced that it has raised a US$80 million Series B financing round at a valuation of US$2 billion. The main investors in this round include Jeneration Capital and 10T Holdings, as well as existing shareholders Dragonfly Capital and BAI Capital. Other investors include Circle Ventures […]

HSI surges over China rate cut

Hong Kong equities closed higher on Friday, with market sentiment boosted by China’s decision to lower a key benchmark rate. The Hang Seng Index rose 2.96 percent, or 596.56 points, to 20,717.24. Both the mainland’s indexes also closed higher. The Shanghai Composite Index jumped 1.60 percent, or 49.60 points, to 3,146.57, while the Shenzhen Composite […]

At the Cusp of a BaaS Revolution, Here Are Some of the Challenges

The future of finance is open, and the rise of Banking-as-a-Service (BaaS) means this future is closer than ever. The BaaS industry is quickly maturing, with 88% of senior APAC executives – in industries from banking and technology to healthcare and retail – recently telling Finastra that they are already implementing BaaS solutions or are planning to. […]

Quantifeed Secures Series C Fundraise Led by HSBC Asset Management

Quantifeed, a digital wealth management solutions provider for financial institutions, announces its Series C funding round led by HSBC Asset Management’s (HSBC AM’s) alternative investments business, HSBC Alternatives. The size of the funds raised were not disclosed. HSBC AM is joined by Daiwa PI Partners and current shareholders, including global asset manager Franklin Templeton and […]

Banks Need to Avoid Risks of a Big Bang Transition When They Digitise

The latest research by the International Data Corporation (IDC) and Thought Machine, a cloud native core banking technology firm, revealed that 40% of banks in the Asia Pacific will make significant changes to their current core banking systems in the next three years. The “A Clear Path Ahead: Migrating to Digital Core” report found that the transformation […]

TransUnion Picks Provenir to Leverage Its AI-Powered Risk Decisioning Platform

Provenir, an AI-powered risk decisioning software provider, announced it has been selected to join TransUnion’s Strategic Alliance Distribution Programme. Through this alliance, TransUnion’s clients will be able to take advantage of Provenir’s platform to gain deeper insights for greater decisioning speed and accuracy. The way consumers interact with financial services products is changing, rapidly – […]