The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Avox Signs Partnership with Xinhua Finance to Extend Business into China

Business entity data specialist Avox has signed a partnership agreement with financial information and media service provider Xinhua Finance to extend its reach into the Chinese market.

The agreement represents the first level of partnership with Xinhua Finance and involves an arrangement for the Chinese firm to distribute international business entity data to the local market.

Avox is in discussions with Xinhua Finance, which is headquartered in Shanghai, about further levels of partnership in the future, says CEO of Avox Ken Price. “China is taking the issue of data very seriously and there is a focus on getting the infrastructure right the first time around. The country is in a position to learn from mistakes made in other financial centres in the world and leapfrog unnecessary stages of development,” he explains.

A big driver for Chinese business and this focus on infrastructure and data is the development of the Qualified Domestic Institutional Investor (QDII) regime, Price adds. QDII allows investors to invest in foreign securities markets via certain fund management institutions, insurance companies, securities companies and other asset management institutions that have been approved by China Securities Regulatory Commission (CSRC).

The two firms are also setting up a research institute to focus on data content and Price believes the interest in this sort of research is proof positive that China is on the right track when it comes to data management.

A user group has been established to provide feedback to both firms, Price continues. Everbright Securities is part of this user group and is seriously talking about a future business relationship with Avox and Xinhua Finance.

Price describes Xinhua Finance as a “young and entrepreneurial” company and a perfect fit for Avox’s needs. “We see China as a great business opportunity for the future as it represents a significant growth market for financial services.”

The next six months will involve a focus on sales and marketing efforts, says Price.

Related content

WEBINAR

Recorded Webinar: Adverse media screening – how to cut exposure to criminal activity, from money laundering to human trafficking

Screening for adverse media coverage of counterparties presents an incredible opportunity for financial institutions to limit risk exposures and identify bad actors early. It is required by regulations such as the EU’s sixth Anti-Money Laundering Directive (AML 6), and is one of the most effective ways to steer clear of potential connections with sanctioned activity...

BLOG

DANIE Consortium on Course for Legal Entity Status, Additional Data Sharing Apps

The DANIE consortium is close to confirming a memorandum of understanding (MOU) with a group of large global banks that will define the consortium’s participant community, add momentum to the project, and provide a stepping stone towards making DANIE a legal entity that is industry owned and governed. The consortium was formed in late 2019...

EVENT

RegTech Summit Virtual (Redirected)

The highly successful RegTech Summit Virtual was held in November 2020 and explored how business and operating models are adapting post COVID and how RegTech can provide agile and enhanced compliance for managing an evolving risk and compliance landscape. The event featured daily live keynotes, panel discussions, presentations, fireside chats and Q&A sessions with content available on demand over five days.

GUIDE

Regulatory Data Handbook – Second Edition

Need to know all the essentials about the regulations impacting data management? A-Team’s Regulatory Data Handbook is a great way to see at-a-glance: All the regulations that are impacting data management today A description of each regulation The impact each will have from a data and data management perspective Messages from sponsors with products related to...