FinTech
Singapore’s Funding Societies streamlines business operations in Indonesia
Singapore-based digital finance platform Funding Societies said Thursday the firm is streamlining business operations in Indonesia amid global challenges. This exercise has impacted 38 out of 214 people in Indonesia.
The impetus for modernizing the future of banking and financial services
Transforming services from their core may seem like a mammoth task to many existing financial institutions. From operating models to mindsets, approaches to new technology should be attuned to shifting customer sentiments – so that financial services and non-banking firms can deliver and respond to markets effectively. #DigitalTransformation #FinTech…
UK’s TerraPay receives in-principle approval for an MPI license from MAS
TerraPay, a United Kingdom-based global payments infrastructure company, has secured an in-principle approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). With this coveted approval from MAS, TerraPay’s customers and leading global enterprises will be able to access its expansive network, across 120 receive…
MAS commits up to $111M for technology and innovation in financial sector
The Monetary Authority of Singapore (MAS) has on Monday announced that it will commit up to SGD 150 million ($111.47 million) over three years under the renewed Financial Sector Technology and Innovation Scheme (FSTI 3.0). FSTI 3.0 seeks to accelerate and strengthen innovation by supporting projects that involve the use of cutting-edge technologies or with…
Singapore’s Endowus raises $35M funding from UBS, Citi Ventures, MUFG and others
Singapore-based digital wealth platform Endowus has raised $35 million in its latest funding round. The firm said in a statement on Wednesday that new investors include Citi Ventures and MUFG Innovation Partners, as well as four of Asia’s wealthiest families with various operating businesses spanning banking to real estate across Singapore, Southeast Asia,…
Apple Pay launches in Vietnam
According to local media VN Express International, Vietnam is the third country in Southeast Asia to allow Apple Pay after Malaysia and Singapore.
FOMO acquires Singapore financial institutions CapBridge, 1exchange to expand into capital markets
FOMO Group, a Singapore-based financial holding group, has on Monday announced that it has completed the acquisition of CapBridge Pte Ltd (CapBridge), a capital markets service and asset custody firm, and 1X Exchange Pte Ltd (1exchange), a private securities exchange company.
Digido: Adoption of fintech services through mobile apps will exceed 72 percent in the Philippines by the end of 2023
The adoption rate of financial technology in the Philippines among the population aged 15 years old and over through mobile apps may increase to 72.2 percent or 59.3 million users by the end of 2023, according to a new report from consumer credit service Digido.
BSN collaborates with VISA to spur e-commerce among micro-SMEs in Malaysia
Malaysian lender Bank Simpanan Nasional (BSN) has announced its strategic partnership with American multinational financial services corporation Visa to kick-start a collaboration focusing on enabling e-Commerce for micro, small-and-medium enterprises (MSMEs).
Superbank partners Amartha to offer working capital loan to women micro-entrepreneurs in Indonesia
Indonesian lender PT Super Bank Indonesia (Superbank) has partnered microfinance technology platform PT Amartha Mikro Fintek (Amartha) to offer working capital loans to women micro-entrepreneurs in Indonesia.
