FinTech
Higher interest rates challenge APAC digital banks, says Fitch
Fitch Ratings said Wednesday that it believes that many new digital banks in the Asia-Pacific (APAC) region will find it more challenging to achieve financial viability as interest rates increase, economic growth slows, and funding conditions tighten.
Indonesia’s Akulaku partners with China’s Alipay+ for BNPL service
Akulaku, an Indonesia-based banking and digital finance platform, announced Tuesday the Akulaku PayLater partnership with Chinese cross-border digital payments firm Alipay+, which will allow Indonesian consumers to use its buy now, pay later (BNPL) solution Akulaku PayLater at Alipay+’s global merchants.
5 ways embedded finance is changing the financial services experience
Embedded finance is making the financial services industry more vibrant and competitive. But that also means that without a banking-as-a-service adoption strategy, conventional banking and financial services institutions can lag behind the competition in the blink of an eye
Indonesian credit tech startup SkorLife scores $2.2M pre-seed funding
Indonesia-based credit tech startup SkorLife announced Monday that it has raised a $2.2 million pre-seed funding round from a group of high-profile investors. AC Ventures participated in the round, along with Saison Capital and an all-star list of angel investors in Asia.
Bukalapak and Standard Chartered launch digital banking service in Indonesia
Indonesia e-commerce firm Bukalapak and global bank Standard Chartered have officially launched BukaTabungan, a digital banking service that leverages the reach of Bukalapak’s all-commerce platform and the technology of nexus, a banking-as-a-service (BaaS) solution powered by Standard Chartered.
Standard Chartered and FairPrice launch Trust digital bank in Singapore
Trust Bank (known as Trust), which is backed by Standard Chartered Bank and FairPrice Group, announced Thursday its official launch as the digital bank for Singapore. Trust is the first of the nation’s new wave of digital banks and launches with a range of products for its customers, comprising a credit card, savings account and family personal accident…
Grab and Singtel launch Singapore’s first digital bank
GXS Bank (GXS) which is backed by a consortium consisting of Grab Holdings (Grab) and Singtel on Wednesday launched Singapore’s first digital bank for consumers and businesses. The bank aims to revolutionise banking services for its customers by leveraging its technological capabilities and the collective power of the GXS, Grab and Singtel ecosystem.
Singapore’s iPiD secures $3.3M seed funding to grow industry support and senior hire
Singaporean FinTech start-up iPiD announced Tuesday a $3.3 million seed funding round by strategic investors Rapyd Ventures, Jungle Ventures, 1982 Ventures, Resolution Ventures, Saison Capital, the XA Network and Wing Vasiksiri.
Wix Partners with TripleA to enable Wix business owners to accept cryptocurrency payments
TripleA, a licensed crypto payment gateway in Singapore, on Tuesday announced the launch of their partnership with Wix, a United States-listed global software as a service (SaaS) platform to create, manage, and grow an online presence.
Validus and Citi establish $100M facility to drive SME financing
Singapore FinTech firm Validus and global bank Citibank N.A. (Citi) announced Tuesday the establishment of a $100 million securitisation facility, collateralised by small and medium-sized enterprise (SME) loans originated by Validus in Singapore.
