Navigating fintech’s rise: IMF, World Bank launch guide for policymakers

The International Monetary Fund and the World Bank jointly released a paper that will guide policymakers around the world in their handling of the rise of financial technology — commonly known as fintech. The paper, called the Bali Fintech Agenda, was launched on Thursday on the Indonesian island where the IMF and the World Bank are holding their annual meetings. Fintech has the potential to reach the 1.7 billion adults in the world that don’t have access to financial services, IMF Managing Dire


The International Monetary Fund and the World Bank jointly released a paper that will guide policymakers around the world in their handling of the rise of financial technology — commonly known as fintech. The paper, called the Bali Fintech Agenda, was launched on Thursday on the Indonesian island where the IMF and the World Bank are holding their annual meetings. Fintech has the potential to reach the 1.7 billion adults in the world that don’t have access to financial services, IMF Managing Dire
Navigating fintech’s rise: IMF, World Bank launch guide for policymakers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: yen nee lee
Keywords: news, cnbc, companies, policymakers, navigating, bank, fintechs, technology, financial, work, paper, services, world, launch, fintech, systems, imf, rise, guide


Navigating fintech's rise: IMF, World Bank launch guide for policymakers

The International Monetary Fund and the World Bank jointly released a paper that will guide policymakers around the world in their handling of the rise of financial technology — commonly known as fintech.

The paper, called the Bali Fintech Agenda, was launched on Thursday on the Indonesian island where the IMF and the World Bank are holding their annual meetings.

The paper outlines 12 “elements” or considerations that the IMF, the World Bank and governments can keep in mind when designing policies and regulations that can maximize the benefits of fintech while keeping financial systems sound.

Those “elements” include using fintech to promote financial inclusion, allowing new technology players to have level playing fields with existing companies and having countries work together to protect the global financial system.

Fintech has the potential to reach the 1.7 billion adults in the world that don’t have access to financial services, IMF Managing Director Christine Lagarde said in a statement.

But, new technology could threaten existing financial systems. For example, volatility in the price of cryptocurrencies has raised concerns about investor protection, according to the paper.

“Fintech can have a major social and economic impact for them and across the membership in general. All countries are trying to reap these benefits, while also mitigating the risks,” Lagarde said.

“We need greater international cooperation to achieve that, and to make sure the fintech revolution benefits the many and not just the few,” she added.

World Bank Group President Jim Yong Kim said fintech would be particularly helpful to low-income countries, where access to financial services is low.

Both organizations said the paper doesn’t represent current work, nor does it aim to provide specific guidance or policy advice. They will, however, start to develop specific programs on fintech.

The IMF will focus initially on the implications on monetary and financial stability and how international monetary systems and global financial safety nets evolve. The World Bank will work on using fintech to deepen financial markets, enhance responsible access to financial services, and improve cross-border payments and remittance transfer systems.


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: yen nee lee
Keywords: news, cnbc, companies, policymakers, navigating, bank, fintechs, technology, financial, work, paper, services, world, launch, fintech, systems, imf, rise, guide


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Fintech firm Curve looking to raise $50 million to become the ‘Amazon of banking’

Fintech firm Curve is aiming to raise $50 million in funding, its CEO told CNBC in an exclusive interview, as it looks to get some cash to boost its aim to become the “Amazon of banking.” Shachar Bialick, CEO of Curve, told CNBC that the company has started a funding round with the aim of raising $50 million. “We believe that your bank is doing a great job. The banks are doing a great job keeping the money safe,” Bialick said. They all believe challenger banks won’t be able to become that inter


Fintech firm Curve is aiming to raise $50 million in funding, its CEO told CNBC in an exclusive interview, as it looks to get some cash to boost its aim to become the “Amazon of banking.” Shachar Bialick, CEO of Curve, told CNBC that the company has started a funding round with the aim of raising $50 million. “We believe that your bank is doing a great job. The banks are doing a great job keeping the money safe,” Bialick said. They all believe challenger banks won’t be able to become that inter
Fintech firm Curve looking to raise $50 million to become the ‘Amazon of banking’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-05  Authors: arjun kharpal
Keywords: news, cnbc, companies, curve, users, 50, firm, job, banking, fintech, amazon, raise, money, banks, told, great, looking, million, bialick, bank


Fintech firm Curve looking to raise $50 million to become the 'Amazon of banking'

Fintech firm Curve is aiming to raise $50 million in funding, its CEO told CNBC in an exclusive interview, as it looks to get some cash to boost its aim to become the “Amazon of banking.”

It’s common for people to have several bank accounts and debit and credit cards. Curve has created an app that brings all a person’s various accounts together and allows users to spend money using one card.

But the important point is that it is not a bank.

Shachar Bialick, CEO of Curve, told CNBC that the company has started a funding round with the aim of raising $50 million.

Bialick said the three-year-old firm is looking to become more of a platform to offer services from various providers, which is why it hasn’t applied for a banking license.

“We believe that your bank is doing a great job. Because when I say that you need to ask me the job the bank needs to do. The only job we think banks are good at, are exactly the job the regulator set them to do — take deposits and move the money back into the economy. The banks are doing a great job keeping the money safe,” Bialick said.

“All the other stuff you don’t need a banking license to do that. You can give loans, can give FX, can give pensions, give trading, without being a bank. The only reason you want to become a bank and take deposits, the only reasons to become a bank is when they think they want to provide their own lending from their own balance sheet.”

Curve is part of a breed of fast-growing fintech firms coming out of Europe. But many other companies in the space have looked to become challenger banks trying to disrupt other lenders. Companies like Monzo, Starling and N26, which recently launched its expansion in Britain, have full-blown banking licenses. They are offering current accounts and other features like zero-fee foreign exchange transactions to acquire customers.

Bialick said that venture capital funds, concerned about the rise of the plethora of challenger banks, have paid attention to Curve’s activities.

‘We are seeing a huge concern from VCs. They all believe challenger banks won’t be able to become that interface, the operating system of money,” Bialick told CNBC.

That’s why he referred to Curve as the “Amazon of banking” — he wants it to become a marketplace for financial services, and that’s the CEO’s plan to make money.

One example he gave is how Curve could work with a bank. Say a user buys an expensive $1,000 item using their Curve card, which is linked to their credit card, the company could offer a lower-priced loan than the interest it would pay with its credit account. That loan that is offered by Curve would be provided by a bank. Curve would take a cut of that transaction.

Compared to other fintech firms, Curve is smaller. Revolut, for example, has 2 million users, while Monzo has 1 million. But Bialick said that users are very engaged and that the funding would be used to expand the product.

“Although we don’t need the money right now, there’s a great opportunity in the market to grow fast. There is a great opportunity to grow across Europe and even break out of Europe.”


Company: cnbc, Activity: cnbc, Date: 2018-10-05  Authors: arjun kharpal
Keywords: news, cnbc, companies, curve, users, 50, firm, job, banking, fintech, amazon, raise, money, banks, told, great, looking, million, bialick, bank


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Fintech start-up TransferWise reports second year of profit, revenue almost doubles

TransferWise, one of Europe’s largest financial technology (fintech) start-ups, said Monday it was profitable for the second year in a row. The London-headquartered money transfer firm reported an annual post-tax net profit of £6.2 million ($8 million) for the fiscal year ending March 2018. Annual revenue nearly doubled to £117 million during the period, from £66 million the previous year, TransferWise said. TransferWise is counted among Europe’s “unicorn” start-ups — firms valued at $1 billion


TransferWise, one of Europe’s largest financial technology (fintech) start-ups, said Monday it was profitable for the second year in a row. The London-headquartered money transfer firm reported an annual post-tax net profit of £6.2 million ($8 million) for the fiscal year ending March 2018. Annual revenue nearly doubled to £117 million during the period, from £66 million the previous year, TransferWise said. TransferWise is counted among Europe’s “unicorn” start-ups — firms valued at $1 billion
Fintech start-up TransferWise reports second year of profit, revenue almost doubles Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-10  Authors: ryan browne, eoin noonan, sportsfile, getty images, david paul morris, bloomberg, wang he, yu chun christopher wong, aaron favila, afp
Keywords: news, cnbc, companies, million, startups, transferwise, founded, reports, firm, fintech, whilst, profit, doubles, revenue, venture, firms, second, reported, startup


Fintech start-up TransferWise reports second year of profit, revenue almost doubles

TransferWise, one of Europe’s largest financial technology (fintech) start-ups, said Monday it was profitable for the second year in a row.

The London-headquartered money transfer firm reported an annual post-tax net profit of £6.2 million ($8 million) for the fiscal year ending March 2018.

Annual revenue nearly doubled to £117 million during the period, from £66 million the previous year, TransferWise said. Operating profit came in at £9.5 million following a loss of £519,000 last year.

The company’s accounts entered into the black for the first time in March 2017, six years after the firm was founded by Estonian entrepreneurs Taavet Hinrikus and Kristo Kaarmann.

“We’ve proven that fintech can offer consumers an unbelievable experience at a low price, all whilst creating a solid business that can be trusted long-term,” Kaarmann, TransferWise’s chief executive, said in a statement Monday.

“Looking forward, sustained growth and our healthy financial position means we can continue to drive down costs whilst investing in developing our product.”

TransferWise is counted among Europe’s “unicorn” start-ups — firms valued at $1 billion or more — with a reported valuation of $1.6 billion.

It has raised a total of $397 million since it was founded in 2011. Backers include asset management giant Old Mutual, Silicon Valley venture capital firms Institutional Venture Partners and Andreessen Horowitz, and British billionaire Richard Branson.


Company: cnbc, Activity: cnbc, Date: 2018-09-10  Authors: ryan browne, eoin noonan, sportsfile, getty images, david paul morris, bloomberg, wang he, yu chun christopher wong, aaron favila, afp
Keywords: news, cnbc, companies, million, startups, transferwise, founded, reports, firm, fintech, whilst, profit, doubles, revenue, venture, firms, second, reported, startup


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10 years after recession, here’s how fintech giant S&P Global is hedging against another one

Ten years after a U.S. financial crisis debilitated world markets, financial services and ratings conglomerate S&P Global is putting processes in place to prevent it from happening again, President and CEO Douglas Peterson told CNBC on Friday. “We have ways that our sovereign analysts, our financial analysts, our corporate analysts, energy, commodities, etcetera — they get together and they talk, not just in the region, but also globally,” the CEO said. S&P Global — the sprawling corporation beh


Ten years after a U.S. financial crisis debilitated world markets, financial services and ratings conglomerate S&P Global is putting processes in place to prevent it from happening again, President and CEO Douglas Peterson told CNBC on Friday. “We have ways that our sovereign analysts, our financial analysts, our corporate analysts, energy, commodities, etcetera — they get together and they talk, not just in the region, but also globally,” the CEO said. S&P Global — the sprawling corporation beh
10 years after recession, here’s how fintech giant S&P Global is hedging against another one Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-07  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, peterson, china, look, fintech, services, heres, financial, hedging, sp, ratings, recession, global, credit, analysts, giant


10 years after recession, here's how fintech giant S&P Global is hedging against another one

Ten years after a U.S. financial crisis debilitated world markets, financial services and ratings conglomerate S&P Global is putting processes in place to prevent it from happening again, President and CEO Douglas Peterson told CNBC on Friday.

“One thing that’s interesting that we’ve added in from those days is ways to connect the dots,” Peterson said in an exclusive interview with “Mad Money” host Jim Cramer.

“We have ways that our sovereign analysts, our financial analysts, our corporate analysts, energy, commodities, etcetera — they get together and they talk, not just in the region, but also globally,” the CEO said.

S&P Global — the sprawling corporation behind Standard & Poor’s, S&P Global Market Intelligence, S&P Dow Jones Indices and countless other benchmarks and financial technology services — became embroiled in the aftermath of the 2007 and 2008 recession.

The company’s Standard & Poor’s Financial Services division paid more than $1.3 billion in 2015 to settle a lawsuit led by the Department of Justice that accused the segment of defrauding investors using inflated ratings that miscast the credit risks associated with mortgage-backed securities.

Now, Peterson said his company’s over 1,500 analysts around the world are being more diligent about looking for worrisome trends.

“We look for credit indicators, we look for credit bubbles, we look for credit risk,” he said. “And this is something so that it gets then built across the entire practice.”

Still a highly accredited security and bond rating service, S&P Global has also been involved in talks with China despite the hotbed of trade disputes between the People’s Republic and the United States.

The relationship between the company and the Chinese government — for which S&P has begun building a customized ratings system that has worried some investors — speaks to the narrative of China chasing legitimacy and establishment amid global economic disconnect.

“It’s still essentially a bank market when you look at their financial markets. Most of the corporate debt is on bank balance sheets and even the loans, even the bonds are on bank balance sheets,” Peterson said of China. “They need to start incorporating themselves into the global economy and that means they need to have a bond yield, they need a yield curve, they’ve got to have a credit risk curve, they have to open up their capital account.”

Adding that China being “thoughtful” about its financial development, Peterson told Cramer that the relationship would likely amount to more than just an official rating from S&P.

“We think that they’re going to be looking at not just the ratings, but also the data products and other market analytics as well,” the CEO said.

S&P Global’s shares sank slightly into Friday’s close, settling at $206.88. The company’s latest analysis showed U.S. corporate debt at a record $6.3 trillion, a sign that worried some on Wall Street given the high levels of leverage.


Company: cnbc, Activity: cnbc, Date: 2018-09-07  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, peterson, china, look, fintech, services, heres, financial, hedging, sp, ratings, recession, global, credit, analysts, giant


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Square jumps 5% after Guggenheim names it ‘best idea’ in fintech

Guggenheim raised its price target to $100 from $75 Tuesday and named Square its “new best idea” and “highest conviction name” in fintech. The firm also named Square its “best idea” two years ago because of what it considered low fourth-quarter 2016 revenue forecasts. Since then, Square has shifted from its “micromerchant” roots to a focus on selling value-added services, Guggenheim said. The firm predicts Square will generate “substantially higher” subscription and services-based revenue than a


Guggenheim raised its price target to $100 from $75 Tuesday and named Square its “new best idea” and “highest conviction name” in fintech. The firm also named Square its “best idea” two years ago because of what it considered low fourth-quarter 2016 revenue forecasts. Since then, Square has shifted from its “micromerchant” roots to a focus on selling value-added services, Guggenheim said. The firm predicts Square will generate “substantially higher” subscription and services-based revenue than a
Square jumps 5% after Guggenheim names it ‘best idea’ in fintech Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-29  Authors: kate rooney, louis ascui, fairfax media, getty images
Keywords: news, cnbc, companies, shares, target, best, guggenheim, named, price, revenue, names, fintech, higher, square, firm, consensus, jumps, idea


Square jumps 5% after Guggenheim names it 'best idea' in fintech

Even after payments company Square’s stock price quadrupled in a year, one analyst is betting that the shares are still cheap.

Guggenheim raised its price target to $100 from $75 Tuesday and named Square its “new best idea” and “highest conviction name” in fintech.

The new target is about 24 percent higher than Tuesday’s closing price. Shares rose 5 percent following Guggenheim’s call, and have seen a 227 percent increase year over year. This year alone, Square is up more than 136 percent.

Guggenheim analyst Jeff Cantwell said in a note to clients Wednesday that he sees revenue coming in significantly higher than the Street’s current consensus. “We expect a strong rate of revenue growth for SQ which should drive further share price appreciation.”

The firm also named Square its “best idea” two years ago because of what it considered low fourth-quarter 2016 revenue forecasts.

Since then, Square has shifted from its “micromerchant” roots to a focus on selling value-added services, Guggenheim said. The firm predicts Square will generate “substantially higher” subscription and services-based revenue than analysts are expecting for the end of 2019 and beyond.

Guggenheim’s revenue estimate is 10 percent above the consensus forecast for adjusted revenue in 2019, according to Cantwell.

In its most recent quarterly report, Square beat Wall Street estimates thanks in part to higher transaction volumes, but the company came up slightly short on adjusted EPS guidance for the third quarter.


Company: cnbc, Activity: cnbc, Date: 2018-08-29  Authors: kate rooney, louis ascui, fairfax media, getty images
Keywords: news, cnbc, companies, shares, target, best, guggenheim, named, price, revenue, names, fintech, higher, square, firm, consensus, jumps, idea


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Saudi Arabia is stumbling in effort to build global financial center

Saudi Arabia likewise plans to invest heavily in fintech and innovation, but it is leveraging its own wealth. One of the company’s initiatives was automating the record-keeping for the VAT, which is designed to be collected in Saudi Arabia at every step of a product’s life cycle, said Husam Yaghi, Ateon president. Saudi Arabia, meanwhile, invested $250 million in the Vision Fund from the Saudi Public Investment Fund. What Saudi Arabia hasn’t been able to do is establish rapid trust and innovatio


Saudi Arabia likewise plans to invest heavily in fintech and innovation, but it is leveraging its own wealth. One of the company’s initiatives was automating the record-keeping for the VAT, which is designed to be collected in Saudi Arabia at every step of a product’s life cycle, said Husam Yaghi, Ateon president. Saudi Arabia, meanwhile, invested $250 million in the Vision Fund from the Saudi Public Investment Fund. What Saudi Arabia hasn’t been able to do is establish rapid trust and innovatio
Saudi Arabia is stumbling in effort to build global financial center Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-21  Authors: elizabeth macbride, sean gallup, getty images news, getty images, -mark yeandle, lead author of the financial centres index
Keywords: news, cnbc, companies, population, investment, investing, vision, wanted, stumbling, arabia, fintech, fund, saudi, dubai, build, center, financial, effort, global


Saudi Arabia is stumbling in effort to build global financial center

Saudi Arabia likewise plans to invest heavily in fintech and innovation, but it is leveraging its own wealth. For instance, state-owned company Alhamrani Group is investing in blockchain and has established a company called Ateon, a solutions provider and systems integrator in the fintech space that focuses on blockchain and cybersecurity. One of the company’s initiatives was automating the record-keeping for the VAT, which is designed to be collected in Saudi Arabia at every step of a product’s life cycle, said Husam Yaghi, Ateon president.

“A big chunk of that Vision 2030 is that digital transformation in fintech,” said Yaghi. Saudi Arabia’s central bank has also joined Ripple, the cryptocurrency that major banks, including Santander, Bank of America and UBS, are using to make global financial transactions easier.

Saudi Arabia is also using a tactic other petrochemical states, like Kuwait, have tried: investing in companies abroad, or becoming a co-investor with leading foreign companies, to spur industry at home. Before the Tesla headlines — which the Saudis have so far been quiet on — MBS announced back in March a deal with SoftBank’s Vision Fund to develop a $5 billion solar project, the world’s largest, though the fund didn’t name a location.

The project, for which SoftBank is investing $1 billion, is expected to have the capacity to produce 200 gigawatts of energy by 2030. Saudi Arabia, meanwhile, invested $250 million in the Vision Fund from the Saudi Public Investment Fund. (The Financial Times recently reported that the Public Investment Fund may be falling short on some of its infrastructure investment goals, perhaps because of the delay in the Aramco IPO.)

What Saudi Arabia hasn’t been able to do is establish rapid trust and innovation like Dubai did. It turned itself into a city that tourists wanted to visit, expats wanted to live in and where the native-born population wanted to work. It’s estimated that 70 percent of its population is from other countries. To the extent that those transplants were professionals with established networks to their home countries or regions, Dubai has benefited.

The emirate has also leveraged its status as an underdog to inspire its native-born population. Dubai is getting set to hold the World Expo in 2020, which is expected to draw more than 17 million people. The leftover infrastructure is expected to offer another economic boost to the city. Siemens, for instance, has committed to moving its global logistics headquarters to office space in the Expo, which will also have a 5G network.

The Dubai government is well aware of the well-financed efforts a few hundred miles away. “We look around us every day very carefully,” said Marjan Faraidooni, head of legacy at Expo 2020 Dubai. “It just fuels us to be more creative. If other cities want to be more competitive, it will drive us more. Dubai does not have oil reserves. We were driven to be competitive globally.”


Company: cnbc, Activity: cnbc, Date: 2018-08-21  Authors: elizabeth macbride, sean gallup, getty images news, getty images, -mark yeandle, lead author of the financial centres index
Keywords: news, cnbc, companies, population, investment, investing, vision, wanted, stumbling, arabia, fintech, fund, saudi, dubai, build, center, financial, effort, global


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Ethereum may drive blockchain to be as broadly adopted as the Internet, fintech CEO says

Blockchain and cryptocurrency may one day be “as broadly adopted as the internet is today,” Jeremy Allaire, CEO and co-founder of fintech company Circle, told CNBC. “It’s a really fertile space in terms of the fundamental, technical and infrastructure,” Allaire said on “Fast Money” Wednesday. “Right now ethereum has an enormous amount of developer activity,” Allaire said. For all of 2017, ICOs raised $3.8 billion. “It also catalyzed a lot of competing infrastructures to ethereum,” Allaire said,


Blockchain and cryptocurrency may one day be “as broadly adopted as the internet is today,” Jeremy Allaire, CEO and co-founder of fintech company Circle, told CNBC. “It’s a really fertile space in terms of the fundamental, technical and infrastructure,” Allaire said on “Fast Money” Wednesday. “Right now ethereum has an enormous amount of developer activity,” Allaire said. For all of 2017, ICOs raised $3.8 billion. “It also catalyzed a lot of competing infrastructures to ethereum,” Allaire said,
Ethereum may drive blockchain to be as broadly adopted as the Internet, fintech CEO says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-18  Authors: kellie ell, jaap arriens, nurphoto via getty images
Keywords: news, cnbc, companies, broadly, right, raised, cryptocurrency, ceo, icos, drive, fintech, market, ethereum, blockchain, adopted, company, really, internet, allaire


Ethereum may drive blockchain to be as broadly adopted as the Internet, fintech CEO says

Blockchain and cryptocurrency may one day be “as broadly adopted as the internet is today,” Jeremy Allaire, CEO and co-founder of fintech company Circle, told CNBC.

“It’s a really fertile space in terms of the fundamental, technical and infrastructure,” Allaire said on “Fast Money” Wednesday.

One major driver for this possible occurrence: ethereum. “Right now ethereum has an enormous amount of developer activity,” Allaire said.

“One of the things that really catalyzed the [cryptocurrency] market last year was actually that ethereum, in particular, kind of got to a place where you could build apps on top of it,” he said. “You could issue new tokens on top of it; you could create new kinds of financial contracts, using the smart contracts technology.”

Ethereum is the name of the company that created the digital token ether. The company created a platform for applications built on blockchain, the same technology that underpins bitcoin. Ether was first launched as a fundraising effort to develop the platform.

As a result, Allaire concluded, ICOs, or initial coin offerings — a crowdfunding way to raise funds for cryptocurrency ventures — have dramatically increased. For all of 2017, ICOs raised $3.8 billion. But in only six months this year, companies have raised more than three times that amount, or $12.4 billion in ICOs, according to CoinSchedule.

“It also catalyzed a lot of competing infrastructures to ethereum,” Allaire said, pointing out that there are a lot of new blockchain platforms on the market right now. Some to consider are EOS, NEO and Cardano, he said.


Company: cnbc, Activity: cnbc, Date: 2018-07-18  Authors: kellie ell, jaap arriens, nurphoto via getty images
Keywords: news, cnbc, companies, broadly, right, raised, cryptocurrency, ceo, icos, drive, fintech, market, ethereum, blockchain, adopted, company, really, internet, allaire


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China’s fintech companies offer ‘enormous’ opportunity, investment manager says

Despite a slowdown in growth and trade tensions, there are “enormous” and “stunning” opportunities in China, particularly in Fintech, an investment manager said Tuesday. “We love the fintech sector in China today,” Glenn Youngkin, co-CEO at Carlyle Group, told CNBC’s “Squawk Box Europe.”“We think it offers an enormous growth opportunity. The Chinese economy is growing, it’s growing at the fastest pace in the world, the Chinese consumer is growing faster than any consumer in the world, and any ev


Despite a slowdown in growth and trade tensions, there are “enormous” and “stunning” opportunities in China, particularly in Fintech, an investment manager said Tuesday. “We love the fintech sector in China today,” Glenn Youngkin, co-CEO at Carlyle Group, told CNBC’s “Squawk Box Europe.”“We think it offers an enormous growth opportunity. The Chinese economy is growing, it’s growing at the fastest pace in the world, the Chinese consumer is growing faster than any consumer in the world, and any ev
China’s fintech companies offer ‘enormous’ opportunity, investment manager says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-17  Authors: silvia amaro, anthony kwan, bloomberg, getty images
Keywords: news, cnbc, companies, world, pace, enormous, growth, china, economy, offer, consumer, growing, chinese, investment, opportunity, chinas, manager, fintech, companies


China’s fintech companies offer ‘enormous’ opportunity, investment manager says

Despite a slowdown in growth and trade tensions, there are “enormous” and “stunning” opportunities in China, particularly in Fintech, an investment manager said Tuesday.

“We love the fintech sector in China today,” Glenn Youngkin, co-CEO at Carlyle Group, told CNBC’s “Squawk Box Europe.”

“We think it offers an enormous growth opportunity. The Chinese economy is growing, it’s growing at the fastest pace in the world, the Chinese consumer is growing faster than any consumer in the world, and any evolution of financial technology in that environment is actually stunning.”

China’s economy grew at a pace of 6.7 percent in the second quarter of the year — slightly below the 6.8 percent seen in the first three months of 2018, according to data published by Chinese authorities Monday.


Company: cnbc, Activity: cnbc, Date: 2018-07-17  Authors: silvia amaro, anthony kwan, bloomberg, getty images
Keywords: news, cnbc, companies, world, pace, enormous, growth, china, economy, offer, consumer, growing, chinese, investment, opportunity, chinas, manager, fintech, companies


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Adyen IPO: Everything you need to know about the $8 billion fintech company

Adyen shares will begin trading on Wednesday in what will be one of Europe’s largest technology initial public offerings (IPOs). But you’d be forgiven for not knowing much about the Dutch financial technology or fintech firm as it has flown under the radar for many years. So here’s a rundown of what Adyen does and how it makes money.


Adyen shares will begin trading on Wednesday in what will be one of Europe’s largest technology initial public offerings (IPOs). But you’d be forgiven for not knowing much about the Dutch financial technology or fintech firm as it has flown under the radar for many years. So here’s a rundown of what Adyen does and how it makes money.
Adyen IPO: Everything you need to know about the $8 billion fintech company Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-06-13  Authors: arjun kharpal, john phillips, getty images
Keywords: news, cnbc, companies, fintech, company, billion, youd, adyen, yearsso, radar, ipo, shares, need, public, know, rundown, trading, offerings, technology


Adyen IPO: Everything you need to know about the $8 billion fintech company

Adyen shares will begin trading on Wednesday in what will be one of Europe’s largest technology initial public offerings (IPOs).

But you’d be forgiven for not knowing much about the Dutch financial technology or fintech firm as it has flown under the radar for many years.

So here’s a rundown of what Adyen does and how it makes money.


Company: cnbc, Activity: cnbc, Date: 2018-06-13  Authors: arjun kharpal, john phillips, getty images
Keywords: news, cnbc, companies, fintech, company, billion, youd, adyen, yearsso, radar, ipo, shares, need, public, know, rundown, trading, offerings, technology


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This chart shows how China is dominating fintech

Even at a European conference about fintech, one country dominated the conversation: China. This week, hundreds of fintech companies, from startups to tech giants, gathered at the Money 20/20 conference in Amsterdam, Netherlands. One key theme at the gathering was China’s leading role in the fintech industry. Li said Alipay, a mobile and online payment platform, has 870 million active users, with 600 million in China and 270 million in the rest of the world. These user numbers are a testament to


Even at a European conference about fintech, one country dominated the conversation: China. This week, hundreds of fintech companies, from startups to tech giants, gathered at the Money 20/20 conference in Amsterdam, Netherlands. One key theme at the gathering was China’s leading role in the fintech industry. Li said Alipay, a mobile and online payment platform, has 870 million active users, with 600 million in China and 270 million in the rest of the world. These user numbers are a testament to
This chart shows how China is dominating fintech Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-06-08  Authors: elizabeth schulze, cnbc, giorgio tonella
Keywords: news, cnbc, companies, largest, week, company, using, world, fintech, wang, china, shows, dominating, worlds, conference, million, chart


This chart shows how China is dominating fintech

Even at a European conference about fintech, one country dominated the conversation: China.

This week, hundreds of fintech companies, from startups to tech giants, gathered at the Money 20/20 conference in Amsterdam, Netherlands. One key theme at the gathering was China’s leading role in the fintech industry.

“Alibaba and Ant Financial, we are literally the world’s largest fintech company, and we are the world’s largest e-commerce company, and these two massive machines still, on an annual basis, grow at more than 50 percent a year,” Li Wang, Alipay’s head of EMEA, told CNBC’s Arjun Kharpal at the conference.

Li said Alipay, a mobile and online payment platform, has 870 million active users, with 600 million in China and 270 million in the rest of the world. These user numbers are a testament to how quickly Chinese consumers have leapfrogged ahead of other countries when it comes to using fintech.


Company: cnbc, Activity: cnbc, Date: 2018-06-08  Authors: elizabeth schulze, cnbc, giorgio tonella
Keywords: news, cnbc, companies, largest, week, company, using, world, fintech, wang, china, shows, dominating, worlds, conference, million, chart


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