Posts From Fintech News Singapore
FIs and Telcos May Have to Bear Full Loss for Phishing Scams Under Proposed Framework
Financial institutions (FIs) and telecommunication companies (telcos) are expected to bear the full loss, if they fail to discharge their respective prescribed duties to mitigate phishing scams. This expectation was outlined in proposed a Shared Responsibility Framework (SRF) for phishing
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YouTrip Raises US$50M, Eyes Malaysia Expansion by Early 2024
YouTrip, a multi-currency digital payments platform, has raised US$50 million in its latest Series B fundraise, bringing its total funds raised to over US$100 million since its inception. The round was led by new investor and global venture capital firm Lightspeed.
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Over 80% of SMEs Seek Alternatives to Traditional Banks for Payments
A new survey by Airwallex and consultancy Edgar, Dunn & Company has revealed surging demand for cloud-based financial services among small and medium-sized enterprises (SMEs), with more than 80% looking to switch away from traditional banks for their payment needs.
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Top 5 Thai Fintechs We Think Will Make Waves in 2024
Thailand is home to a vibrant and rapidly evolving fintech sector, an industry that’s grown throughout the years on the back of supportive government initiatives, a growing middle class and increased digital penetration, as well as a burgeoning ecosystem of
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MAS Proposes to Streamline Regulatory Framework for Fund Managers
The Monetary Authority of Singapore (MAS) is proposing to streamline the regulatory framework for fund managers by repealing the Registered Fund Management Companies (RFMCs) regime. Existing RFMCs will be approved as Licensed Fund Management Companies (LFMCs) upon application. The RFMC
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Triple-A Bags US$10 Million Series A Led by Peak XV, Shorooq Partners
Crypto payment gateway Triple-A announced that it has raised US$10 million in Series A funding. The round was led by repeat investors Peak XV Partners and Shorooq Partners. The company had previously secured US$4 million in seed funding in June
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Mambu Now Available in AWS Marketplace
Cloud banking platform Mambu is now available in AWS Marketplace, making it one of the first core banking providers on the site. This is the next phase of Mambu and AWS’s decade-long relationship. AWS Marketplace is a digital catalog with
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Singapore Banks Foiled Scams Worth S$57.6 Million in 9 Months This Year, Says ABS
Singapore banks have prevented and recovered over S$57.6 million in scams in the first nine months of 2023, thanks to enhanced security measures implemented by major retail banks, according to the Association of Banks in Singapore (ABS). This was achieved
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OCBC to Deploy Generative AI Chatbot Powered by ChatGPT for Staff Globally
OCBC announced that it will deploy a generative artificial intelligence (AI) chatbot to its 30,000 employees globally in November 2023. The chatbot, powered by ChatGPT’s Large Language Models, will help employees with writing, research, and ideation. The OCBC ChatGPT was
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Matrixport’s Cactus Custody Taps OneDegree to Upgrade US$50M Insurance
Cactus Custody, Matrixport’s digital asset custodian service provider, has upgraded its US$ 50 million insurance coverage to include crime protection for warm wallets. The insurance is issued by Hong Kong’s digital insurer OneDegree. This means that Cactus Custody’s clients will
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