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According to reports and data, the company has dropped 52% year over year which had already gone to $2.4 billion globally.
The ASIC issued to facilitate innovation in financial service which has examined various options to encourage financial technology(FinTech).
Fintech wants to be prepepared now.
The U.S. securities and commodities regulatory agencies pushed the congress to increase their budget. They argued that more fund is needed to do their functions in the growing financial markets and technology in recent years.
Financial tech and its $147 billion potential market opportunity required financial regulators to supervise the industry. In 2015, investments in the fintech sector doubled, reaching $14 billion.
Global venture capital funding for financial technology companies hit $13.8 billion last year. The number is a double from previous year, indicating a serious impact of fintech to the financial services.
Israeli fintech hub initiative is receiving $2 million investments from Chinese venture capital firm Pando Group. The partnership is expected to build the bridge between Israel companies and the Asian markets.
Year 2015 was dubbed as year of fintech. As financial technology startup companies flourish and gain huge fund. Global regulators are closely monitoring the fintech startups and will propose rules to regulate them.
Serial entrepreneur, advisor, and investor Schwark Satyavolu will join Silicon Valley investment firm Trinity Ventures. He will be taking care of fintech, a subject matter in which he has impressive experiences. Trinity Ventures will invest in new deals with its $400 million fund closed in November 2015 with the help and advise from Mr. Satyavolu.
Marking the first ever single major investment in financial technology (fintech) segment, SoftBank Group Corp has led an investment of $1billion in the US startup SoFi. Private equity (PE) firms such as Third Point have invested in SoFi. Both the companies are of a positive view that the Series E funding round will speed up the growth rate of SoFi. The fintech services are gaining support from customers, who're not satisfied with traditional banking services. SoFi is aiming at expanding financial offerings in the near future.