Posts From Fintechnews Singapore

Global Fintech Adoption Is at an All Time High, EY Study Shows

Consumer adoption of fintech services has surged globally in the past years, rising from 16% in 2015 and 33% in 2017, to now 64%, an increase of almost 100% every two years. China and India are leading the trend with

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Visa Said Their AI-Powered Fraud Detection Helped Prevent US$25 Bil in Fraud Annually

Visa just announced that their Visa Advanced Authorisation (VAA) process, done using artificial intelligence, has helped financial institutions prevent an estimated US$25 billion in annual fraud. VAA, used by Visa themselves, is a comprehensive risk management tool that  monitors and

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Line Founder Thinks its US$182 Mil Worth Fintech Arm Could Break Even in Two Years

Following the announcement of Line’s fintech ambitions, the Japan-based company with WeChat Pay-like financial ambitions claims that it may see the new arm break even as early as one to two years, according to Bloomberg. The claim is notable, as

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Two Vietnamese Payments Startups are Merging and Raising US$30 Mil in Funding

Two Vietnamese payments startups, Vimo Technology and Vietnam MPOS Technology have merged to form a brand new entity NextPay according to Bloomberg. Vimo Technology operates a mobile wallet provider, while Vietnam mPOS Technology, as the name suggests, operates a portable

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A Shocking 72% of APAC Companies Struggle to Harness Financial Crime Prevention Tech

Organizations across Asia Pacific (APAC) are looking to increase investment in technology to fence off financial crime, according to a new survey by Refinitiv titled Innovation & the Fight Against Financial Crime. Refinitiv, a global provider of financial markets data

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LuneX Backed Sparrow Launches Crypto Trading Platform

Fresh out of Beta, Sparrow, a Singapore-based options trading platform has launched a platform for Bitcoin and Ethereum options trading which are settled by smart contract. The company is backed by LuneX Ventures a crypto and blockchain dedicated VC fund

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4xLabs’ New Platform Lets You Compare Prices of Overseas Money Transfer Services

Following the launch of Get4x, a price discovery platform for currency exchange, a Singapore-based fintech named 4xLabs has just launched a comparison platform which puts different money transfer solutions neck and neck to help users select cheaper or quicker transfers—particularly

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Singtel’s Dash to Enable In-App Taxi Booking from ComfortDelGro Soon

Singtel announced a strategic partnership with ComfortDelGro Taxi to enable in app taxi booking within Singtel’s Dash App. Through this partnership, Singtel’s Dash user will be able to procure services from ComfortDelGro’s 12,000 strong taxi fleet. According to its Head

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LINE’s Partnership with VISA Might See the Duo Introducing Crypto Payments Soon

Japanese internet giant LINE announced that its fintech unit LINE Pay has inked a partnership with VISA, which will see both parties provide financial services for their collective user bases of millions of consumer and merchants worldwide. This development seems

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Temasek and Tencent to Invest US$35 Million in TrueLayer

Tencent and Temasek is set to invest US$ 35 Million in UK-based open banking startup True Layer’s US$40 Million Series B round. This fresh round of funding brings the startup’s total funding to US$ 51.8 Million, according to Crunchbase. Temasek’s

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