CLPS, established by Shanghai University of Finance and Economics faculty members, is an IT solutions provider and consulting firm, while EMIT deals in financial big data, according to an announcement from the company. EMIT supplies financial models, analysis, data mining and analytics.
"Big data has become an important area of technological advancement in the financial industry. Our strategic investment in EMIT allows us to expand upon our expertise in providing the financial industry with applications of industry-leading technologies,” said Raymond Lin, co-founder and CEO of CLPS. “EMIT's expertise in data modeling, deep learning and machine learning, and blockchain technology will benefit CLPS's future development by further expanding our client network. In addition, by offering applications of data mining, we will be able to extend our competitive edge in the banking, insurance and financial sectors."
EMIT’s offerings, now being integrated into CLPS model, include risk warning systems, intelligent investment and “credit card decision engine core systems,” working toward service mode design, risk control and data strategic planning, according to the announcement.
CLPS, while globally-operating, is headquartered in Shanghai, China. Its clients include large financial companies in the U.S., Australia, Hong Kong and Europe.
Shenzhen Fintech Research Institute Looks to Bolster Fintech Staffers
The Shenzhen Fintech Research Institute created by the People’s Bank of China is looking for new talent, according to an article from Cointelegraph. The institute is looking for a blockchain architect, senior technical expert and a blockchain development engineer. The listings were posted on the Chinese job recruitment website Lagou.com on Tuesday, May 21. The Shenzhen research institute is jointly run by the People’s Bank of China Digital Currency Research Institute, the Futian District People's Government and the Shenzhen Local Financial Supervision Bureau.
“The technical expertise required for the [senior technical experts] includes an in-depth knowledge of blockchain technology, smart contracts, consensus algorithms, P2P protocols and distributed systems and storage. Applicants are expected to have three to five years of experience and an undergraduate qualification as a minimum,” the article reads.
Marqeta Raised $260M, Looks to Move Into Asia
Oakland-based Marqeta netted $260 million in its latest funding round with hopes of expanding globally, reports Cheddar. Jason Gardner, the company’s CEO, said in Europe, and increasingly in Asia, the use of credit has been steadily rising.
McKinsey reported that while Asia led the global payments revenue pot, commercial and consumer credit brought 2% and 6%, respectively. In North America, consumer credit spending accounted for 35% of the pool, in contrast.
The company is now valued at approximately $2 billion, and since June of last year it has raised $45 million when its total valuation sat at $545 million.
