Fasanara Fintech Weekly

South Korean Households' Debt, Israeli Fintech Expands, Biden's New Open Banking & Other News




Happy Thursday!



In this edition:


  • South Korea looks to fintech as household debt balloons to $1.6tn

  • HSBC Asset Management creates specialist fintech investment arm

  • Israeli Fintech Investment Experiences 260% Increase as Ecosystem Develops

  • StanChart Eyes ‘Stratospheric’ Fintech Values in Digital Push

  • Fuelling the Future of Fintech: The Biden Administration’s New Open Banking Regulation.






South Korea looks to fintech as household debt balloons to $1.6tn.



Digital lenders set to fill gap as banks pull back in heavily indebted nation.

South Korea’s household debt-to-GDP ratio stood at 103.8 per cent at the end of last year, compared with an average 62.1 per cent of 43 countries surveyed by the Bank for International Settlements.


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HSBC Asset Management creates specialist fintech investment arm.



Visa has signed a definitive agreement to acquire Currencycloud, a global platform that enables banks and FinTechs to provide innovative foreign exchange solutions for cross-border payments.

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Israeli Fintech Investment Experiences 260% Increase as Ecosystem Develops.



The sky’s the limit for Israel’s booming fintech ecosystem, which has experienced a record-breaking first half of 2021 in terms of Venture Capital investments; as announced by Start-Up Nation Central.


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StanChart Eyes ‘Stratospheric’ Fintech Values in Digital Push.


Standard Chartered Plc reckons it can spot the next fintech gem.

The bank, which has 85,000 employees across 59 markets, has already fallen behind financial technology in one respect: its market capitalization is barely half the latest valuation given to payments startup Revolut Ltd.

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Fuelling the Future of Fintech: The Biden Administration’s New Open Banking Regulation.



The move towards open banking is one of the most fundamental changes in the banking system for years. A direct consequence of the process of digital transformation, its goal is to give customers and third-party financial institutions frictionless access to their financial data, enabling them to download, share, and action information about everything from account balances and transactions to investments.

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