FinTech

Visa, a global payment firm, has on Monday announced a new $100 million generative artificial intelligence (AI) ventures initiative to invest in the next generation of companies focused on developing generative AI technologies and applications that will impact the future of commerce and payments.

The acquisition will help GCash improve its services in the fintech space and further democratize financial access, Globe said.

While Singapore and Hong Kong are seen as global epicenters for technology and finance, RFI Global said that Singapore has seen more rapid growth in the percentage of heavy digital users.

Ant Group, an affiliate company of the Chinese conglomerate Alibaba Group, has on Thursday unveiled its new Singapore office as home to its various international business and technology segments, including Ant International.

Asia United Bank (AUB), a publicly listed universal bank in the Philippines, is enabling more local merchants to accept cross-border digital payments from Hong Kong SAR, South Korea, and Malaysia via Alipay+ and AUB PayMate.

Global financial crime compliance costs for financial institutions totals more than $206 billion, according to LexisNexis® Risk Solutions released on Wednesday. The cost is comparable to more than 12 percent of global research and development (R&D) expenditure and equates to $3.33 per month for each working-age individual on earth.

Funding Societies | Modalku, the largest unified small and medium enterprises (SME) digital finance platform in Southeast Asia, announced on Tuesday that it has successfully raised debt of $27 million. The funding was led by Asia-focused private credit financier AlteriQ Global, with multi-family office Aument Capital Partners (ACP), and…

Chinese digital payment firm Ant Group has officially welcomed seven new leading e-wallets and payment apps from Asia to the “Alipay+-in-China” Program (A+China Program). The new additions bring the total number of overseas e-wallets accepted in the Chinese mainland to ten.

SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm, has launched audax Financial Technology (audax), a digital banking technology solutions provider. The platform is designed to empower banks and financial institutions to accelerate their digital transformation, deliver new business models, serve new customer segments and…

Bank Mandiri is collaborating with the fisheries startup FishLog to support MSMEs.