FinTech Global

📢 Our latest speaker taking the stage at the Global InsurTech Summit USA – Veronica Judice, Claims Transformation Leader, Client Solutions & Head of STG Claims at Aon 📢 Veronica will be speaking on the panel titled - A New Frontier for Digital Claims: Transformation of Insurance Operations Register to take part in the leading InsurTech event: https://lnkd.in/ezAs3DQF #GINSUS24 #Insurance

⏰ The clock is ticking! The chance to enter the demo vote at the Global RegTech Summit USA ends this week ⏰ Don’t miss the chance to enter the vote where delegates will select 16 solution providers to present for FREE in front of prospective buyers and partners including senior-level leaders working in compliance, risk management, financial crime prevention and more from Europe's leading financial institutions, as well as active investors. ❗To apply to demo you simply need to register as a delegate. Enter the vote via the link - https://lnkd.in/gBeAPjZg #GRTSUS24

Are you joining the world's top gathering of #AML & #FinCrime leaders? If not, what are you waiting for? The AML & FinCrime Tech Forum is back and better than ever! - 500 AML Leaders Registered - 81% Director or Above - 2.3x more Meetings Booked than at other FinTech Events - 93.1% of Attendees likely to return! Hurry up! Book now and secure our half-price super earlybird rate - www.amltechforum.com #AMLTechForum24

📢 Meet the latest disruptor joining the Global RegTech Summit USA 📢 We are delighted to be partnering with Comply Exchange Ltd, who are Bronze Sponsors 🥉 at the Global RegTech Summit USA in New York this September. Register now to meet the most innovative industry leaders shaping the #RegTech landscape of tomorrow - https://lnkd.in/gBeAPjZg #GRTSUS24 #Compliance David Marley

Daily Research from FinTech Global Asian FinTech Market set for 42% drop in Deal Activity as Investors focus on Larger Investments The Asian FinTech sector followed the global trend of decline in H1 2024. Deal activity witnessed a substantial drop, with 513 deals completed, a decrease of 47% compared to the 958 deals recorded in H1 2023. Funding also saw a significant decline, with FinTech companies in Asia raising only $7.4bn in H1 2024, a reduction of 68% from the $23bn raised in the same period last year. If deal activity continues at the rate recorded in the first six months of the year, the projected total for 2024 would be 1,026 deals, a 42% from the 2023 total of 1,757 deals. Despite the overall slowdown, the average deal size in the Asian FinTech market did increase. In H1 2024, the average deal value reached $14.4m, reflecting a 20% rise compared to the $12m average deal value in H1 2023. This suggests that while there are far fewer deals overall, investors are being more selective, focusing on larger investments in Asian FinTech firms with higher growth potential or established market positions. Svatantra, an Indian based technology driven microfinance company secured the biggest deal in Asia with a $230m private equity investment deal. The company provides affordable financial and non-financial solutions to women entrepreneurs, it has emerged as one of the most differentiated process and technology-driven microfinance entities in India. Svatantra, along with its wholly owned subsidiary, Chaitanya, has a team of more than 17,000 employees and serves over 4.2m customers across 20+ states. Svatantra offers microcredit at affordable rates and has been a first mover and shaker of the industry by being the first MFI with 100% cashless disbursements since inception, and also the first to roll out an extensive customer-facing app that is conducive to client social behaviours. In the first half of 2024, India continued to dominate the Asian FinTech sector with 149 deals, representing 29% of all funding rounds, although this was a decrease from 262 transactions (27% share) completed in H1 2023. China maintained its second position with 85 deals, holding steady at a 17% share, down from 168 deals during the same period the previous year. Singapore secured the third spot with 75 deals, accounting for 15% of the total, a slight drop from 138 deals (14% share) in H1 2023. Svatantra Microfin Pvt. Ltd., Chaitanya India Fin Credit Pvt Ltd

RegTech company RelyComply recently underwent a rebrand. The firm looks to expand its reach and widen its footprint. What does the future spell out for the enterprise as it looks towards the horizon? Read more here: https://lnkd.in/eJRSSzCM Bradley Elliott Reece Turner Juliet Mey

Navigating the ever-changing landscape of financial regulations is challenging. Traditional methods of regulatory change management are often manual, slow, and resource-intensive, struggling to keep pace with the constant evolution of regulations. According to a recent whitepaper by Ascent, the complexity of these processes, combined with fragmented manual operations, creates gaps and hidden risks that expand as policies and controls are updated. Read more here: https://lnkd.in/e-XMYRjm Robb Verna

Howden has joined forces with FullCircl, a software provider specialising in accelerating growth for insurance brokers. Read more here: https://lnkd.in/eJYrdPBi James Roberts

FinTech Global news you can't afford to miss from yesterday 👉 How technology in claims processing is changing consumer choices in insurance 👉 IDEX Pay secures Visa certification 👉Adyen and InvoiceASAP partner to accelerate instant deposits 👉 KOHO launches Tenant Insurance and Rent Reporting solutions 👉 SetldPay Ltd and Tribe Payments forge strategic partnership Chris Lafond Insurity Stuart Green Daniel Eberhard Paul Hoeper

Daily Research From FinTech Global Chinese FinTech investments dropped by 77% in H1 as investors grow more cautious In H1 2024, the Chinese FinTech sector experienced a decline in both deals and funding. Only 85 deals were completed in the first half of the year, marking a 49% decrease compared to the 168 deals recorded in H1 2023. Funding also saw a steep drop, with FinTech companies raising just $2.1bn in H1 2024, a 77% decrease from the $9.2bn raised in H1 2023. If this trend continues, the projected total for 2024 would be 170 deals, a 37% decrease from last year’s total of 326. The average deal value in H1 2024 was approximately $24.7m, reflecting a decrease compared to the $54.8m in H1 2023. This decline in average deal value suggests that not only has the number of deals decreased, but the size of the investments has also shrunk significantly, possibly due to a more cautious approach by investors amid ongoing global economic uncertainties and domestic market challenges in China. These factors have likely contributed to a more selective investment approach, focusing on smaller, less risky ventures, and reflecting the broader hesitancy within the FinTech market in China. Chaitin Technology, a cybersecurity company in China, secured the largest deal in the region for the first half of the year with a funding round of $141m. This substantial investment propels Chaitin Technology into a new phase of independent development, reinforcing its leadership in product categories such as web application firewalls, traffic detection, and host security. The company has already provided robust security solutions to over 3,000 users across critical industries like finance, communications, and government, with a service network spanning more than 30 provinces and cities and an ecosystem of over 2,000 partners. Chaitin Technology plans to leverage its advanced defence capabilities to upgrade its product offerings and deploy cutting-edge technologies, including AI-driven security models, to enhance intelligent security operations. This new capital will enable the company to continue its heavy investment in innovation and market expansion, solidifying its position as an emerging leader in the cybersecurity sector. Beijing Chaitin Technology Co., Ltd. 王瑜