FinTech
Monetary Authority of Singapore proposes standards for digital money
The Monetary Authority of Singapore (MAS) has on Wednesday published a whitepaper proposing a common protocol to specify conditions for the use of digital money such as central bank digital currencies (CBDCs), tokenized bank deposits, and stablecoins on a distributed ledger.
Funding Societies introduces Shariah-compliant Guaranteed Islamic Investment Note in Malaysia
Following the launch of its comprehensive Islamic financing solutions recently, Funding Societies, the Singapore-based unified small and medium sized enterprise (SME) digital finance platform, has introduced its Guaranteed Islamic Investment Note (GN-i) in Malaysia.
Grab plans biggest job-cut round since pandemic – report
Last month, Grab said it is ‘on track’ to achieve breakeven by the fourth quarter after its losses narrowed in the first quarter.
Malaysia’s GHL expands Alipay+ integration to 2,600 Thai merchants
Malaysia-based payment service firm GHL Systems Berhad (GHL) has enabled Alipay+ for over 2,600 local businesses in Thailand to accept cross-border digital payments from leading Asian mobile wallets.
IndusInd Bank partners with Wise to offer online inward remittance to India
Indian financial services provider IndusInd Bank has on last Friday announced its partnership with global payment firm Wise to offer online inward remittance services to Non Resident Indians (NRIs) residing in United States and Singapore.
FOMO Pay implements Moody’s Analytics End-to-End KYC/AML Risk Monitoring Solutions
FOMO Pay, the Singapore-headquartered major payment institution, announced Monday its implementation of Moody's Analytics know your customer (KYC) solution to monitor risk and secure compliance of its digital payments and digital banking services.
Singaporean fintech firm Pilon secures fresh funding Kaya Founders
Pilon, a Singapore-headquartered FinTech firm that offers cloud-based supply chain financing system, announced Thursday that it has successfully secured a top-up round from Philippines-based Kaya Founders to accelerate growth plans and strengthen its presence in the Philippines market.
Digital banking is the most competitive sector in Southeast Asia’s fintech market, says Rabocash
The digital banking sector is the most competitive in the Southeast Asia (SEA), with a score of 9,692 on the Herfindahl-Hirschman Index (HHI) (reverse) index, Robocash Group said Thursday.
Indonesian B2B payments orchestrator Durianpay eyes expansion following five times TPV growth
Indonesian business to business (B2B) payments orchestrator Durianpay has announced its plans for further expansion following a remarkable financial performance in the first half of 2023. The firm reported a five times year on year growth in total processing value (TPV) since 2022 and a positive gross margin since its first year of operating.
Malaysia central bank, ASEAN 5 to set up multilateral platform for cross-border payment connectivity
A key highlight at the symposium is the showcasing of Malaysia’s cross-border QR payment linkages with Indonesia, Singapore, and Thailand. It features an exhibition with food vendors from Malaysia, Indonesia, Singapore, and Thailand.
