For too long the investment space has been dominated by male investors, but I believe the next decade will define a new age of female investor power. This has partly been driven in the US by investment democratization through the crowdfunding boom and growth in the private securities market, and by a post-pandemic re-appraisal of household finances.
MYbank, an online private commercial bank and an associate of Ant Group, reported that it served over 45 million small-and-micro enterprise (SME) clients at the end of 2021, representing a nearly 30 percent increase year-on-year, according to its 2021 annual report. Leveraging its mobile app and cloud-based infrastructure, MYbank pioneered the “310 lending model”. Using this innovative model, it takes SME owners just a few clicks on their phones to obtain a collateral-free business loan. The entire application process can be completed within three minutes, approved within one second and requires zero human interaction.
Wayflyer, the revenue-based financing and growth platform for eCommerce businesses, secured and began deploying $300 million in debt financing from global financial services leader J.P. Morgan, with Neuberger Bermann acting as a mezzanine provider.
Global Processing Services (GPS), a payment tech platform, announced the promotion of Joanne Dewar to Vice Chair. Kevin Schultz has also been named CEO, effective immediately. Joanne will maintain her position on the GPS board, where she will focus on the global profile, and continue to work alongside Chair, Gene Lockhart, in a newly created Office of the Chair.
Teaminvest Private Group Ltd has appointed two new senior executives to further accelerate the company’s growth. Timothy Wong has been appointed Head of TIP Equity (the private equity division) and Michael Baragwanath as Head of TIP Wealth (the company’s investment banking division).
In new research from anti-money laundering (AML) compliance tech firm First AML, 100% of individuals working in the banking and finance industry said AML has risen up the agenda due to their firm’s increased focus on customer transparency and ethical customer onboarding. The data found that regulation and compliance is ranked as the highest business priority (2.69 where 1 is the highest), then improving the bottom line or protecting margin (3.83).
Leading mobile payment providers across Asia announced recently an integration of Alipay+ cross-border digital payment solutions in South Korea in an effort to jointly promote cashless travel in the country. Users of e-wallets including AlipayHK, GCash (the Philippines), Touch ‘n Go eWallet (Malaysia), and TrueMoney (Thailand) are able to pay at over 120,000 merchants using their local mobile payment apps when traveling in South Korea.
Blnk, a startup that enables instant consumer credit in Egypt, has raised $23.7m in equity and debt funding, and $8.3m in securitized bond issuance to accelerate financial inclusion within underserved communities. The funds will support further development of Blnk’s AI-powered lending infrastructure and the financing of the firm’s fast-growing portfolio of clients.
Corpay, a FLEETCOR® brand and global player in business payments, announced that Corpay’s Cross-Border business has entered into an agreement with World Table Tennis Pte. Ltd. (World Table Tennis) to become their official Global FX Payments Supplier in 2023. World Table Tennis and all the stakeholders of its series of events, including their players and business partner network, will be able to gain access to and utilise Corpay’s innovative solutions to help mitigate their foreign exchange exposure risks. Corpay Cross-Border’s platform will enable eligible firms to manage their payments from a single point of access.
Alipay+, a provider of global cross-border digital payment and marketing solutions announced that, through Alipay+, Macao merchants are offering lucrative incentives inside AlipayHK – one of the most popular e-wallets in Hong Kong – to attract travelers and boost local consumption as inter-city travels are expected to soon be recovered to pre-pandemic levels.