Posts From Fintech News Singapore
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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Singapore’s Protos Labs Raises US$2.2M Seed Funding
Singapore-based cyber insurtech company Protos Labs announced that it has raised SG$3 million (US$2.2 million) in seed funding. The seed round was joined by BEENEXT, VinaCapital Ventures, Artem Ventures in partnership with FWD Insurance, Plug and Play Silicon Valley, Investible,
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Jumio Unveils New AI-Powered Fraud Prevention Tool
Jumio, a provider of identity verification and fraud prevention solutions, has announced the launch of Jumio 360° Fraud Analytics. This new AI-powered tool can identify fraud patterns with greater sophistication and accuracy, helping businesses to protect themselves from fraud. Jumio
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Digital Payments to Fuel 100% Growth in Southeast Asia’s E-Commerce Market
Southeast Asia is anticipating a 100% expansion in its e-commerce market over the next five years, driven by accelerated digital payments growth, led by Buy Now Pay Later (BNPL), mobile wallets, domestic payments, and credit cards. SEA leads in digital
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From Virtual to Real Property – DeFi Mortgages and Gen Z Wealth Building
Real estate is overactive everywhere, including the metaverse. Statista estimates the value of the metaverse at $65.5 billion in 2022, with the virtual real estate market at around $500 million. Virtual property prices are exploding with metaverse real estate agents
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Alipay+ Now Supports LankaPay for Cross-Border Digital Payments
Alipay+ and LankaPay have signed a Memorandum of Understanding (MoU) to enhance inbound and outbound travel experience through cross-border digital payments. The partnership will enable users of Alipay+ payment partners to make cashless payments at over 400,000 LankaQR merchants across
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Singaporeans Lack Confidence in Ability to Spot Online Fraud, Revolut Survey Finds
A recent survey by Revolut, a global neobank with over 35 million customers worldwide, found that over 20% of Singaporeans have experienced some kind of fraud when shopping online in the last six months. Young people aged 18-34 years old
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Experian and Moneythor to Fuel Data-Driven Personalisation for Aussie FIs
Experian, a global information services company and Australian credit bureau, has partnered with digital banking solutions provider Moneythor to provide Australian financial institutions with data-driven personalisation solutions. The collaboration will leverage Experian‘s enriched transaction data and Moneythor’s data-driven personalisation engine
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