FinTech

Indian fintech firm Aye Finance has entered into definitive agreements for INR 250 crores ($30 million) in Series G funding, led by Singapore’s ABC Impact, the leading Pan-Asia impact investor backed by Temasek and Temasek Trust.

Boost Bank, Malaysia-based homegrown digital bank, announced on Thursday the upcoming launch of its SME Financing services in early October.

Under this linkage, consumers and merchants in both countries will be able to make and receive instant cross-border QR payments.

Lighthub Asset, a Thai fintech company, and WeLab, a pan-Asian fintech platform, announced on Thursday that they have submitted an application for a Virtual Banking licence with the Bank of Thailand.

The dtcpay and Visa partnership seeks to bridge the gap between traditional payments and digital currencies, enabling merchants to accept payments from this growing segment of UHNW customers, the company said.

The Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) have on Wednesday announced that major retail banks in Singapore will progressively implement Singpass Face Verification (SFV) over the next three months to strengthen the digital token (DT) setup process for retail banking customers.

The partnership sees Ant International, together with its business brands Alipay+, Antom and WorldFirst, become the exclusive Official Global Payment Solutions and Digital Wallet Partner of Tottenham Hotspur, and Alipay+ the first Official Training Wear Sleeve Partner for both the men’s and women’s teams.

The initiative leveraged Ant International’s expertise in digital financial services to equip non- profit organizations with capabilities to navigate the digital giving landscape, using giving.sg as the medium.

Malaysian lender Malayan Banking Berhad (Maybank) has announced a strategic investment in Funding Societies | Modalku (Funding Societies), an unified digital finance platform for micro, small and medium enterprises (MSMEs) in Southeast Asia.

Governments across Asia are fast-tracking reforms and initiatives to bridge the quarter of Asia’s population that remains outside the formal financial system, but it needs fintechs to help narrow the gap.