Fintech
Endowus Launches in Hong Kong making its first Overseas Market Entry
Endowus, Asia’s leading digital wealth platform is committed to providing investors with the most professional and comprehensive wealth management products, offering best-in-market solutions to overcome the industry pain points of high cost and misaligned incentives which often lead to poor investment returns and outcomes. To this end, Endowus has provided over HK$17 million of trailer fees rebates to its clients, either in cash reimbursements or straight back into clients’ Central Provident Fund (CPF) and Supplementary Retirement Scheme (SRS) investment accounts.
Supported by global investors, Endowus has raised a total of HK$376 million in funding from firms such as UBS, SoftBank Ventures Asia and Samsung Ventures. As the firm looks to launch its wealth management and advisory service in Hong Kong by Q4 2022, Endowus announces today the appointment of Steffanie Yuen as its Head of Hong Kong, responsible for establishing and leading Endowus’ presence in the city
Gregory Van, CEO of Endowus said, “We are thrilled to achieve another key milestone in the growth of Endowus by bringing the first-ever ‘trailer fee-free’ digital wealth platform to Hong Kong, while also marking its expansion into its first overseas market. The shifts toward transparency in financial services and digitisation of wealth have generated opportunities for unstoppable momentum. Earlier this year, we received approval from the Securities and Futures Commission of Hong Kong (SFC) to offer wealth management and advisory services in the territory. This includes approval for licences under Types 1, 4 and 9, for dealing and advising in securities, and asset management. Endowus is delighted to welcome Steffanie to the leadership team. Steffanie has built up invaluable fintech and institutional finance experience over the last decade. Under her stewardship, I believe that Endowus will be able to provide a better wealth experience for clients in Hong Kong, as we have done in Singapore.”
With over 12 years of experience in fintech, wealth management and investment banking, Steffanie graduated Summa Cum Laude from New York University’s Stern School of Business and began her career in investment banking at Deutsche Bank and Barclays in Hong Kong. She joins Endowus from Value Partners, where she was responsible for leading the Group’s Direct Distribution, Marketing, Communications and Investor Relations functions and other key strategic growth initiatives. Prior to that, she was the Business Development and Strategic Partnerships Director at Alibaba’s fintech affiliate, Ant Group. She was responsible for driving strategic collaborations and partnerships with international financial institutions and Ant Group’s overseas e-wallet partners, which together serve over 1.2 billion global active users annually.
During her time with Ant Group, Steffanie also led the set-up of a joint venture between Vanguard and Ant Group in 2019, where she served as the Chief Marketing Officer and Head of Investor Advisory Service. The joint venture became the first independent fund investment advisor approved in China, and achieved over one million users in less than one year following its launch.
Steffanie said, “Our work in Singapore demonstrates that we are driving tangible change in the industry and creating value for our clients. Endowus’ fee-only model and the provision of 100% cashback on trailer fees will be a market first in Hong Kong. We hope that this unique model which Endowus has pioneered in Singapore will be impactful in helping clients in Hong Kong to manage both their private savings and public pension monies on our digital platform. I am humbled to be entrusted with overseeing Endowus’ first regional expansion, and look forward to working with the outstanding team to bring its mission of providing all investors access to the best-in-class investment products and expert investment advisory services at a low, fair cost to Hong Kong investors. Over time, we hope to be considered by clients in Hong Kong as an essential partner for wealth planning, and in boosting retirement adequacy.”
Fintech
Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA)
As we close out 2024, the fintech industry continues to deliver headlines that underscore its dynamism and innovation. From IPO aspirations to groundbreaking regulatory milestones, today’s updates highlight the transformative power of fintech partnerships, regulatory evolution, and disruptive technologies. Here’s what you need to know.
Chime’s Quiet Step Toward Public Markets
Chime, the U.S.-based financial technology startup best known for its digital banking services, has taken a significant step by filing confidential paperwork for an initial public offering (IPO). As one of the most valuable private fintechs in the U.S., Chime’s move could potentially signal a renewed appetite for fintech IPOs in a market that has been cautious following fluctuating valuations across the tech sector.
With a valuation that reportedly exceeded $25 billion in its last funding round, Chime’s IPO could set a new benchmark for the industry. Observers note that its strong customer base and revenue growth may make it an appealing choice for investors seeking to capitalize on the digital banking boom. However, the timing and success of the IPO will depend on broader market conditions and the regulatory landscape.
Source: Bloomberg
ZBD’s Pioneering Achievement: EU MiCA License Approval
ZBD, a fintech company specializing in Bitcoin Lightning network solutions, has made history by becoming the first to secure an EU MiCA (Markets in Crypto-Assets Regulation) license. This landmark approval by the Dutch regulator positions ZBD at the forefront of compliant crypto-fintech operations in Europe.
MiCA, which aims to harmonize the regulatory framework for crypto-assets across the EU, has been a focal point for industry players aiming to establish legitimacy and expand their offerings. ZBD’s achievement not only validates its operational rigor but also sets a precedent for other fintech firms navigating the evolving regulatory landscape.
Industry insiders view this as a strategic advantage for ZBD as it broadens its footprint in Europe. By leveraging its regulatory approval, the company can accelerate its product deployment and establish trust with institutional and retail users alike.
Source: Coindesk, PR Newswire
The Fintech-Credit Union Synergy: A Blueprint for Innovation
The convergence of fintechs and credit unions continues to reshape the financial services ecosystem. Collaborative initiatives, such as the one highlighted in the recent partnership between fintech innovators and credit unions, are proving to be a potent force in delivering tailored financial solutions.
This “dream team” approach allows credit unions to leverage fintech’s technological expertise while maintaining their community-focused ethos. Key areas of collaboration include digital payments, personalized financial management tools, and enhanced loan processing capabilities. These partnerships not only enhance member engagement but also enable credit unions to remain competitive in an increasingly digital-first financial environment.
Industry analysts emphasize that such collaborations underscore a broader trend of traditional financial institutions embracing fintech-driven solutions to bridge service gaps and foster innovation.
Source: PYMNTS
Tackling Student Loan Debt: A Fintech’s Mission
Student loan debt remains a pressing issue for millions of Americans, and a Rochester-based fintech aims to offer relief through its cloud-based platform. This innovative solution is designed to simplify loan management and provide borrowers with actionable insights to reduce their debt burden.
The platform’s features include repayment optimization tools, personalized financial education, and seamless integration with loan servicers. By addressing the complexities of student loan management, this fintech is empowering borrowers to make informed decisions and achieve financial stability.
As the student loan crisis continues to evolve, solutions like this highlight the critical role fintech can play in addressing systemic financial challenges while fostering financial literacy and inclusion.
Source: RBJ
Industry Implications and Takeaways
Today’s updates underscore several key themes shaping the fintech landscape:
- Regulatory Milestones: ZBD’s MiCA license approval exemplifies the importance of regulatory compliance in unlocking growth opportunities.
- Strategic Partnerships: The collaboration between fintechs and credit unions demonstrates the value of combining technological innovation with traditional financial models to drive customer-centric solutions.
- Market Opportunities: Chime’s IPO move reflects a potential revival in fintech public offerings, signaling confidence in the sector’s long-term prospects.
- Social Impact: Fintech’s ability to tackle systemic issues, such as student loan debt, showcases its role as a force for positive change.
The post Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA) appeared first on News, Events, Advertising Options.
Fintech
SPAYZ.io prepares for iFX EXPO Dubai 2025
Leading global payments platform SPAYZ.io has confirmed it will be attending iFX EXPO Dubai 2025 on 14 to 16 January. Exhibiting at Stand 64 at Trade Centre Dubai, SPAYZ.io’s team of professionals will be on hand providing live demonstrations of its renowned payment services for payment providers. Attendees will also receive exclusive insight into SPAYZ.io’s plans for 2025 alongside early early access to its upcoming plans for the new year.
SPAYZ.io delivers a host of payment solutions that leverage the latest technological innovations and open access to the fastest growing emerging markets across Africa, Europe and Asia. Over the past year, there has been huge demand for its Open Banking and local payment method services, alongside bank transfers, mass payouts, online banking and e-wallets.
Yana Thakurta, Head of Business Development at SPAYZ.io commented: “We look forward to once again participating at iFX Dubai to expand our network of partners and clients. It’s a fantastic way to kick off the year, connecting with thousands of industry leaders from FOREX platforms to trading companies, and everything in between.
“Our key goal for iFX Dubai EXPO 2025 is to expand our portfolio of solutions and geographies. We’re using this as an opportunity to partner with like-minded entities who share our ambition to provide payment solutions that are truly global.”
Come meet SPAYZ.io’s team at the Trade Centre Dubai at Stand 64. You can also book a meeting slot with a member of a team.
The post SPAYZ.io prepares for iFX EXPO Dubai 2025 appeared first on News, Events, Advertising Options.
Fintech
Airtm Enhances Its Board of Directors with Two Strategic Appointments
Airtm, the most connected digital dollar account in the world, is proud to announce the addition of two distinguished industry leaders to its Board of Directors: Rafael de la Vega, Global SVP of Partnerships at Auctane, and Shivani Siroya, CEO & Founder of Tala. These appointments reflect Airtm’s commitment to innovation and financial inclusion as the company enters its next phase of growth.
“We are thrilled to welcome Rafael and Shivani to Airtm’s Board of Directors,” said Ruben Galindo Steckel, Co-founder and CEO of Airtm. “Their unique perspectives and proven track records will be invaluable as we continue scaling our platform to empower individuals and businesses in emerging markets. Together, we’ll push the boundaries of financial inclusion and innovation to create a more connected and equitable global economy. Rafael and Shivani bring a wealth of experience and strategic insight that will strengthen Airtm’s mission to connect emerging economies with the global market.”
Rafael de la Vega, a seasoned leader in fintech global partnerships and technology innovation, is currently the Global SVP of Partnerships at Auctane. With a proven track record of delivering scalable, impactful solutions at the intersection of fintech, innovation, and commerce, Rafael’s expertise will be pivotal as Airtm continues to grow. “Airtm has built a platform that breaks down barriers and opens up opportunities for people in emerging economies to connect to global markets. I am excited to contribute to its growth and help further its mission of fostering financial inclusion on a global scale,” said Rafael.
Shivani Siroya, CEO and Founder of Tala, is a pioneer in financial technology, renowned for empowering underserved communities through access to credit and essential financial tools. Her leadership in leveraging data-driven innovation aligns seamlessly with Airtm’s vision of creating more equitable financial opportunities. “Empowering underserved communities has always been at the core of my work, and Airtm’s mission resonates deeply with me. I’m thrilled to join the Board and work alongside such a dynamic team to expand access to financial tools that truly make a difference in people’s lives,” said Shivani.
The post Airtm Enhances Its Board of Directors with Two Strategic Appointments appeared first on News, Events, Advertising Options.
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