Fasanara Fintech Weekly

HK Fintech Support, Biggest Indonesian Merge, Marqeta's Success, Indian Tech Boom & Other News




Happy Friday!



At this article:


  • Hong Kong Goes All-In on Fintech

  • Merger Of 2 Biggest Indonesian Unicorns to Create Challenger For Fintech Giants

  • Marqeta IPO Puts Spotlight on Fintech Fees

  • Indian Tech Braces for Its Second Coming of Age

  • UAE Sees 55% Growth in Finance App Installs as Fintechs Up Marketing Spend.






Hong Kong Goes All-In on Fintech.



The Hong Kong Monetary Authority (HKMA) is to establish a new Fintech Cross-Agency Co-ordination Group to formulate supportive policies for the local fintech ecosystem.


The formation of the group is one of a range of initiatives adopted by the central bank as part of its Fintech 2025 strategy plan.


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Merger Of 2 Biggest Indonesian Unicorns to Create Challenger For Fintech Giants.



The merger between two of Indonesia's best-known unicorns will create a new financial technology giant that will seek to monetize relationships with its combined customer base. However, it will face competition from Chinese and regional fintech players seeking to carve a slice of the growing wealth in Southeast Asia.

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Marqeta IPO Puts Spotlight on Fintech Fees.



Marqeta, a debit card company that gets most of its business through Jack Dorsey’s payments processor Square, is to complete one of the largest listings for a fintech company this year, testing a business model that has boomed because of curbs on traditional banks imposed after the 2008 financial crisis.


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Indian Tech Braces for Its Second Coming of Age.



It’s shaping up to be a defining year for Indian technology. Start-ups like food delivery service Zomato and digital payments star Paytm have grown fast aided by rapid smartphone adoption. Oodles of foreign capital helped too. As business and funding models evolve, a stack of upcoming initial public offerings spotlights new challenges.

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UAE Sees 55% Growth in Finance App Installs as Fintechs Up Marketing Spend.



AppsFlyer, the global marketing measurement leader, has released its 2021 edition of The State of Finance App Marketing. The COVID-19 pandemic directly impacted how consumers interact with financial institutions and how the institutions themselves operate. According to the report, Financial Technology (FinTech) apps are in high demand, experiencing a 132% leap globally in downloads in the last two years. Although growth was lower in the Middle East, finance installs still rose by 55% in the United Arab Emirates (UAE) and 73% in Saudi Arabia year-on-year.

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