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Chinese and Asia-Pacific companies dominate the top 10 in KPMG and H2 Ventures 2019 Fintech100

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Chinese and Asia-Pacific companies made a strong showing in the top 10 of the 2019 Fintech100 report from KPMG International’s global Fintech practice and fintech investment firm H2 Ventures.

As in 2018, this year’s list showed payments and transaction companies dominating, representing 26 of the ranked companies. This was followed by wealth companies (20), insurance companies (17) and lending companies (15).

China had three companies in the top 10 this year, with a total of seven companies in the ‘Top 50’ and three in the ‘Emerging 50’.

Two India-based companies also featured in the top 10, as did two companies from the US and one from the UK (see the complete top 10 ranking below).

Ian Pollari, Global Co-leader for KPMG’s Fintech practice and a partner with KPMG Australia said: “Globally, we have seen a rise in companies from across Asia-Pacific (including China) which represent the top six, and seven of the top 10 fintech companies in 2019, with China again securing the most top-ten positions.

“In 2019, we have also seen the emergence of India as a fintech force, taking two of the top positions and with seven companies in this year’s list in total,” he added.

Chris Wang, Partner, Head of Fintech, KPMG China, said: “As fintech development continues to go strong in China, we are seeing some changes in China’s fintech landscape. Aligned with trends we observe globally, we see an increasing number of wealth, insurance and multi-sector companies in China on the list, which indicates that technologies and innovations have spread into more financial services sectors. Also, we can see an increase in the number of fintech companies from Hong Kong on the list following a series of efforts by the Hong Kong Monetary Authority to facilitate the development of the fintech ecosystem in Hong Kong. With the competitive advantages of leading fintech companies from Shenzhen and increasing cooperation and interactions among fintech companies in the region, the Greater Bay Area is becoming an important fintech hub in China and undoubtedly has key role to play in the continuous transformation of financial services.”

Overall, the Asia-Pacific region dominated the top 10 for another year with five companies in the ranking. Ant Financial (China) ranked first for the second year running, followed by Grab (Singapore) and JD Digits (China). Coming in fourth was Indonesia-based GoJek. China-based Du Xiaoman Financial took sixth.

Avril Rae, Director, Head of Fintech, Hong Kong, KPMG China, noted: “The annual Fintech 100 champions innovation and innovators. Having led the rankings for the past three years and again securing the most top ten positions on the List in 2019, we see that China remains strong in this field. Additionally, we see a significant increase in venture capital backing of fintech companies; leading fintech players are attracting a greater share of capital from significant venture investors in fintech companies and strategic investors.”

2019 Fintech100 – Top 10:

  1. Ant Financial (China) is the world’s largest third-party payments platform.
  2. Grab (Singapore) uses data and technology to improve everything from transportation to payments across a region of more than 620 million people.
  3. JD Digits (China) is a digital technology company, dedicated to providing digital, online and offline all-scenario services around three key points: data, user and connectivity. It uses emerging technologies such as big data, AI, cloud computing, blockchain and IoT.
  4. GoJek (Indonesia) a multi-services platform with more than 20 services including Gopay, Gobills, Gopoints, Paylater, and Gopulsa serving millions of users in Southeast Asia.
  5. Paytm (India) is the largest digital payments company in India with more than 380 million registered users and 12 million merchants on-board its Paytm platform.
  6. Du Xiaoman Financial (China) provides short-term loan and investment services.
  7. Compass (United States) is a real estate technology company with a powerful end-to-end platform that supports the entire buying and selling workflow.
  8. Ola (India) off the back of its ridesharing user base Ola Money is making payments easier and simpler.
  9. Opendoor (United States) makes it possible to receive an offer on a home in just a few clicks, and sell in a matter of days, removing the headaches, uncertainties, and risks from the transaction.
  10. Oaknorth (United Kingdom) specializes in small-and-medium-enterprise lending using its proprietary data and technology platform.

Many fintechs are also benefiting from being at the forefront of several key trends, the report found.

Globalization

According to market analysis, an increasing number of fintechs are rapidly globalizing across multiple jurisdictions, such as Australia’s AfterPay Touch, Brazil-based Nubank, Germany-based Kreditech Holdings, and Spain’s Bnext.

Monoline to mainstream

Early fintech innovators with monoline product propositions are now diversifying to fulfil a greater set of mainstream customer needs.

Open banking

A number of companies, such as China’s Ant Financial and India’s Open, are benefiting from the global policy shift to open banking, which is driving competition and allowing fintechs to access customer banking data to create faster, more personalized and innovative services.

 

SOURCE KPMG

Blockchain

OKEx Launches OKB Ecosystem Monthly Report: Expands 5 C2C Markets and 36 New Use Cases

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On Dec 10 2019, the world leading crypto exchange OKEx launched OKB Ecosystem Monthly Report. According to the report, OKB ecosystem made great progress mainly on two aspects: transaction and new use cases expanding.

OKB is newly listed on five C2C exchanges covering major countries and areas recently. In addition to that, the number of OKB new use cases reached 36, including 11 platform-empowered use cases and 25 external use cases.

Besides, through a buy-back & burn scheme and the token economy model, OKB is now ranked among the top 20 global cryptocurrencies by market capitalization with approx. USD110 million daily average trading volume in C2C market.

Now, OKB is being turned into a global token. Thus, to occupy the C2C market, the first step for users to get into crypto world is crucial. OKB is now on OKEx C2C market, accounting for approx. USD110 million daily average trading volume from tens of thousands of users.

Besides, OKB is also listed on ALINIEX, Bvnex, two major C2C exchanges in Vietnam and Bitsonic, Probit, two major C2C exchanges in South Korea.

Apart from expanding transaction methods, OKB also made huge improvement in expanding use cases. The report shows that the number of OKB platform-empowered use cases has increased to 11 and teamed up with 25 partners to build the OKB ecosystem, which means, OKB is not only a token based on OKEx, the native token on the soon-released OKChain and OKDEx and the only accepted token for OKEx jumpstart, but also expanded to other industries, like network security (Slowmist, Beosin, Certik), finance service (13 platforms including LinkEye, Molecular Future, etc.) and lifestyle (9 platforms including Tripio, BitTorrent, etc.)

For example, OKB holders can book their stay at 450,000+ hotels worldwide with OKB on Tripio, the world’s first decentralized travel booking marketplace based on blockchain.

At the end of the report, it also disclosed some details of OKChain and OKDEx. OKChain is currently at the final development stage and its testnet will be launched soon. As the first Defi application OKDEx will also be available on OKChain by that time.

SOURCE OKEx

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ANSYS Accelerates Electronic Product Design And Signoff For Global Custom ASIC Leader

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Global Unichip Corp. (GUC), the global custom application-specific integrated circuit (ASIC) leader, has adopted ANSYS (NASDAQ: ANSS) to support its unmatched combination of advanced technology, low-power and embedded CPU design capabilities.

Providing advanced ASIC services that meet the needs of today’s innovative technology enterprises requires a fast introduction, timely resolution to customer problems and successful signoff. GUC selected ANSYS® RedHawk-SC™ to support the significant needs of its customers by effectively executing designs with more than one billion device instances and completing the full-chip systems-on-chip (SoC) power integrity and reliability signoff in less than two days.

ANSYS RedHawk-SC is built on ANSYS® SeaScape™ — the world’s first custom-designed, big data architecture for electronic system design and simulation. ANSYS SeaScape features big data architecture for electronic system design and simulation and provides elastic compute scalability to enable rapid design iteration, increased scenario coverage and greater accuracy for full-chip SoC signoff for advanced nodes. ANSYS RedHawk-SC’s actionable analytics provide designers with key insights to prioritize design fixes and enable easy viewing and querying of large design databases in minutes for faster debugging. Efficient hardware utilization makes the platform ideally suited for high-performance computing, artificial intelligence and datacenter applications.

“GUC is committed to providing world-class custom ASICs to help elevate prospective systems and integrated circuit (IC) companies’ market-leading positions,” said Louis Lin, senior vice president, GUC. “As IC manufacturing processes become more complex, there are more elements to simulate and compute during chip design and verification to ensure reliability and minimize power loss. ANSYS helps us minimize this complexity, speed our time to market and reduce development costs. Our partnership with ANSYS has been a cornerstone in helping our clients succeed in the IC market.”

“As a custom ASIC leader, GUC requires cutting-edge solutions for fast and accurate results,” said John Lee, vice president and general manager, semiconductor business unit at ANSYS. “RedHawk-SC meets the market’s unique needs for addressing multiphysics challenges — we are seeing an influx of customers deploying RedHawk-SC for the most complex product and design signoff.”

 

SOURCE ANSYS, Inc.

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The first global, stabilised, digital currency controlled by its holders, SAGA (SGA) lists on global cryptocurrency exchange Liquid

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The first global, stabilised, digital currency controlled by its holders, SAGA (SGA) lists on global cryptocurrency exchange Liquid

 

Global cryptocurrency platform “Liquid.com” today announced that it is the first exchange to list Saga token (SGA) for secondary trading.

SGA is the first global, stabilised, digital currency controlled by its holders and will allow global citizens to store and move value without friction across borders. It complements existing national currencies and offers a store of value outside the remit of national government and banking structures.

In order for SGA to serve as a global currency, it is fully backed by a strong basket of national currencies that replicate the International Monetary Fund’s SDR. Based on the SGA’s market movements, measured by the number of tokens issued, the Saga monetary model will gradually diminish reliance on the reserve as users’ confidence in SGA grows. Together, these measures are designed and implemented to reduce price volatility while allowing SGA to grow beyond a simple fiat-backed / pegged stablecoin.

SGA holders will also be the masters of the currency and, as a result, they will govern the Saga economy through a variety of voting mechanisms, designed to facilitate genuine representation of participants – balancing between identity and stake – and to generate long-term success for the currency. Holders will have to undergo an online Know Your Customer (KYC) process that ensures compliance within Anti-Money Laundering (AML) standards while maintaining their privacy.

The Saga token will initially be traded against the USD, Bitcoin and Ethereum, while more trading pairs are expected in the future.

“After in-depth conversations with our advisors and months of carrying out our own market research, we decided that Liquid is the ideal exchange partner for Saga. Liquid is one of the largest and most reputable cryptocurrency exchanges, offering customers a secure way to trade and hold SGA,” said Saga Founder Ido Sadeh Man. “Listing SGA on Liquid is an important milestone in bringing the Saga token to market.”

“We are delighted to offer Liquid customers the opportunity to buy and trade SGA. We believe SGA offers our traders an interesting opportunity as we see great value in Saga’s approach of replicating the mechanics of central bank national currencies and applying them on a global scale,” said Liquid’s CEO and co-founder, Mike Kayamori. “At Liquid, our core values are transparency and compliance, and as these are two key properties of SGA, a partnership between Liquid and Saga was a natural match.”

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