Asia Banking Research

Apr

Why is ByteDance venturing into fintech?

China’s ByteDance, best known as the owner of the popular TikTok video-sharing app, is reportedly now the world’s most valuable startup with a US$75 billion valuation or more. That’s quite a price tag. Of course, since the valuation is occurring in private markets, it is difficult to assess its accuracy.…

Apr

Asia Banking Research

Kakao looks to bulwark fintech business with acquisition of securities firm

The Kakao Talk messenger app’s financial arm became the majority shareholder of Baro Investment & Securities in February, taking a 60% stake in the brokerage. This is the type of cooperation between incumbents and fintechs that Korea’s Financial Services Commission (FSC) likes to see. Kakao is focusing largely on the…

Apr

Asia Banking Research

Pressure builds on Philippines to strengthen AML regime

The Financial Action Task Force (FATF ) told the Philippines in October to improve its anti-money laundering regime or else face the possibility of being placed on the organization’s blacklist once again, an unenviable position. FATF gave Manila one year to get its house in order. The Philippines does not…

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