Tagged: webank

December 26, 2020 @ 11:00 am By Xu Gao  |  

WeBank Reduces Upper Limit of Microloan to ¥200,000 WeBank, the Tencent-backed digital bank, announced that it would reduce the upper limit of its microloan product (Weilidai) from ¥300,000 to ¥200,000 from December 26th. According to WeBank, the reduction was a response to the “Commercial Bank… Read More

August 22, 2020 @ 5:55 pm By Xu Gao  |  

Insurtech Platform Shuidi SecureS US $230 Million D-round of Financing On August 20th, at the 2020 Global Partner Conference of Shuidi Insurance Mall, Shen Peng, founder & CEO of Shuidi, announced that the company had completed a series D financing of US$230 million, led by… Read More

June 30, 2020 @ 9:59 pm By Omar Faridi  |  

Dennis Gao, partner of Management Consulting at KPMG Southern China, recently noted that Fintech is preparing to enter the “regulatory-driven 2.0 era,” and opportunities are now greater or outweigh potential challenges for Fintech due to COVID-19. Gao, whose comments came during “Financial Digitalization & Fintech… Read More

May 20, 2020 @ 10:57 pm By Omar Faridi  |  

Leading Chinese digital bank, WeBank, has teamed up with OpenNodes, a distributed ledger technology (DLT) platform developed by the Singapore-based Infocomm Media Development Authority, a statutory board of the nation’s government, under the Ministry of Communications and Information. WeBank will provide the FISCO BCOS blockchain-enabled… Read More

May 18, 2020 @ 9:01 am By Omar Faridi  |  

C.C. Puan, the CEO at Packet One Networks (P1), a major wireless broadband provider focused on becoming an established mobile telecom by making access to the Internet a great experience for Malaysian residents, is planning to acquire a digital banking license. Puan remarked: “Getting the… Read More

May 17, 2020 @ 11:08 am By Xu Gao  |  

PBC, CBIRC, CSRC and SAFE Release Opinions on Providing Financial Support for the Development of Guangdong-Hong Kong-Macao Greater Bay Area To fully implement the decisions and arrangements of the CPC Central Committee and the State Council, upon the approval of the State Council, PBC, CBIRC,… Read More

April 16, 2020 @ 8:43 pm By Omar Faridi  |  

WeBank, one of China’s first all-digital challenger banks, has revealed that it will begin exploring  the potential integration of DAML, which is an open-source smart contract programming language developed by Digital Asset (the company). The DAML software has been developed in order to help software… Read More

April 12, 2020 @ 5:16 pm By Xu Gao  |  

Chinese Banks Seek Technology Talents for Digital Transformation The outbreak of the COVID-19 has accelerated the digitalization process of the financial industry. In order to respond better to future challenges, banks in China are seeking more technology talents. For example, Postal Savings Bank of China… Read More

December 18, 2019 @ 2:19 pm By Samantha Hurst  |  

Chinese digital bank WeBank announced on Wednesday it has formed new partnerships with cloud computing platform Tencent Cloud and deep learning research Mila. According to WeBank, the partnerships will seek to protect data privacy while enabling cross-organization collaborations in both AI and fintech, which is… Read More

November 2, 2019 @ 12:31 pm By Xu Gao  |  

People’s Bank of China and the State Administration for Market Regulation Jointly Incorporate Fintech Products into the National Certification System To implement the policy of “pushing for the establishment of a management system based on government supervision and led by standards where corporate responsibilities are… Read More

August 17, 2019 @ 12:05 pm By Xu Gao  |  

Tencent-backed WeBank Fined ¥2 million for multiple violations WeBank, China’s first internet bank, was fined for ¥2 million for multiple violations against Law of the People’s Republic of China on Commercial Banks. In an inspection last year, the Shenzhen branch of the China Banking and… Read More

June 19, 2017 @ 6:22 pm By Timothy Li  |  

During July 2016, I was part of a delegation of US Fintech executives visiting our counterparts in Hong Kong, Shenzhen, and Shanghai, China. We toured and visited some of the most exciting Fintech platforms in China such as LuFax, CreditEase, Tencent (the creator of WeChat),… Read More

September 13, 2016 @ 11:20 pm By WeiyangX  |  

Qudian.com announced to exit from campus installment market in which it used to be the leader, and turned their focus on consumer finance. Qudian.com (previously named Qufenqi.com) announced this week that they would exit from the campus installment loan market, and made consumer finance for… Read More

December 4, 2015 @ 3:26 am By Spencer Li  |  

Following in the footsteps of Chinese internet giants such as Alibaba, Tencent, and JD.com, leading Chinese P2P platforms have begun evolving into one-stop wealth management platforms. Alibaba’s Ant Financial, Tencent’s WeBank, and JD.com’s JD Finance (for some background on these platforms, please refer to a… Read More

November 18, 2015 @ 2:15 am By Midori Yoshimura  |  

China’s Internet search giant Baidu will partner with China Citic Bank, part of state-owned conglomerate Citic Group, to launch an online bank, according to the Financial Times. The FT notes that Citic Bank, suspended its shares in Shanghai and Hong Kong on Monday pending announcement… Read More

August 4, 2015 @ 12:29 pm By Erin Hobey  |  

“China’s central bank has moved to defend draft rules that would force online payment processors to channel large payments through traditional bank accounts, a requirement that industry observers say will stifle innovation while protecting the interests of incumbent banks,” reported FT’s Gabriel Wildau. “The People’s Bank of China… Read More