Financial Platform News

News and analysis coverage of financial platforms, ranging from payment processing and credit through to retail banking and investment services.

WPP

Uber and HSBC wins help trading improve at ad group WPP

The UK proprietor of the Ogilvy, Grey and GroupM bureaus, already rebuilding following a few years of tech-led turmoil from the advertising industry, is currently recovering from t...

Ant Group

Ant Group to close Hong Kong institutional book early amid ‘overwhelming’ demand for IPO

Ant Group will close institutional order publications of the Hong Kong part of its record-setting double IPO ahead of schedule as a result of strong demand, sources with direct kno...

Money Transfers Africa

African money transfer firms thrive as pandemic spurs online remittances

Having fled an economic implosion in his native Zimbabwe, Brighton Takawira was able to provide for his mum back home with small earnings by a small perfume business he set up in S...

Ant Group

Jack Ma: Ant Group IPO pricing “history’s largest”

The colossal dual listing for Chinese FinTech Ant Group will be the world’s largest, according to a pricing determined late on Friday, Alibaba founder Jack Ma said over the w...

Ant Financial

Ant’s record allocation in Shanghai IPO fuels small investor scramble

Chinese FinTech Ant Group’s move to earmark a record 80% of the Shanghai leg of its $35 billion dual-listing for strategic investors has resulted in a scramble among younger ...

PAyPal

PayPal to open up network to cryptocurrencies

In a significant move, PayPal has said it will allow clients to hold bitcoin along with other digital coins on its own online wallet and shop utilizing cryptocurrencies in the 26 m...

Alipay

Increased Chinese scrutiny increases investment risk of ‘Beast’ Ant

As Ant Group was pushing forward in August towards its IPO, at least two smaller Chinese banks using existing ties to the FinTech player decided to stop sourcing fresh customer loa...

Libra

Facebook’s Libra taps ex-HSBC exec as CFO of payments unit

Another former HSBC executive is heading into the Facebook-backed Libra cryptocurrency project, joining as chief financial officer of a unit tasked with handling the projected digi...

Libra

G7 vows to fight ransomware attacks; say stablecoin needs regulation

Fiscal leaders of this world’s seven biggest economies on Tuesday pledged to fight rising ransomware strikes amid the COVID-19 pandemic, also said no stablecoin surgery shoul...

Libra

G7 draft: Facebook’s Libra must not start until properly regulated

Financial leaders of this world’s seven largest economies will state on Tuesday that they oppose the launch of Facebook’s Libra stablecoin before it’s properly re...

Ant Financial

Ant Group’s $35 billion IPO unlikely to be hurt by possible US curbs

Ant Group’s $35 billion initial public offering (IPO) is not likely to suffer from any US restrictions on the Chinese financial technology giant due to its very limited overs...

UK Parliament

London Stock Exchange in talks with Indian tech firms to list overseas

The London Stock Exchange is in discussions with several Indian technology companies for their overseas stock listings, a senior executive for the British exchange told journalists...

Crypto

Central banks eye digital cash to fend off crypto threat

The world’s largest central banks, as well as a few of those smaller ones are toying with the idea of issuing electronic currencies.

Paytm

Paytm targets a million apps on its mini app store to take on Google

Alibaba-backed Indian FinTech firm Paytm is aiming to get a million apps onto its own “mini app store” by the first quarter of 2021, it said on Thursday, seeking to cha...