Posts From Fintech News Singapore
UNDP, GLEIF and MAS to Work on Digital ESG Credentials for MSMEs Worldwide
The United Nations Development Programme (UNDP), Global Legal Entity Identifier Foundation (GLEIF) and Monetary Authority of Singapore (MAS) will be working together to develop digital ESG credentials for micro, small and medium-sized enterprises (MSMEs) worldwide. MAS will deploy the ESGenome
Read More
Fintechs Are Outperforming Banks in Driving Financial Inclusion
In Southeast Asia, digitalization and technology are playing an important role in expanding access to financial services and fintech companies are spearheading the movement, a new research by the Centre for Impact Investing and Practices (CIIP), a non-profit established by
Read More
AWS Invests US$100 Million for Generative AI Innovation Center
Amazon Web Services (AWS) announced that it will invest US$$100 million in its AWS Generative AI Innovation Center. The new programme aims to help companies successfully build and deploy generative artificial intelligence (AI) solutions. The programme will connect AWS AI
Read More
TOPPAN IDGATE Deploys Facial Recognition Tech on Kiosks for Digital Onboarding
It can be difficult for financial institutions to rely exclusively on physical branches for comprehensive service for certain markets, particularly those spanning large territories. In such cases, Modular Service Kiosks are the perfect alternative, extending financial and payment services to
Read More
OCBC Offers Fully Digital Account Opening for Foreigners Relocating to Singapore
OCBC has launched a fully digital Singapore dollar and multi currency accounts opening service for foreigners from Malaysia, Indonesia, mainland China and Hong Kong SAR looking to relocate to Singapore. The bank expects the monthly average of foreigners who open
Read More
JPMorgan Set to Establish Commercial Bank in Singapore
JPMorgan Chase & Co will be establishing its commercial bank in Singapore as part of its global expansion plans, according to a Reuters report. The bank which currently serves more than 650 clients across 26 countries. Through this global push,
Read More
Ripple Gets In-Principle Approval to Offer Digital Payment Token Services
Ripple’s Singapore subsidiary has obtained in-principle approval for a Major Payments Institution license from the Monetary Authority of Singapore (MAS). The enterprise blockchain and crypto solutions provider will now be able to offer regulated digital payment token products and services
Read More
MAS Fines Citi, DBS, OCBC, and Swiss Life Following Wirecard Probe
The Monetary Authority of Singapore (MAS) has imposed penalties amounting to S$3.8 million in total on Citibank, DBS Bank, OCBC, and Swiss Life for breaching its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) requirements. MAS discovered these breaches
Read More
dtcpay Raises US$16.5M Pre-series A to Expand Global Presence
dtcpay, a Singapore-based digital payments platform, has raised US$16.5 million in a pre-Series A funding round led by the Chairman of Pontiac Land Group Kwee Liong Tek. The firm said that the funding will be used to further invest in
Read More
MAS Outlines Standards for Digital Money in Latest Whitepaper
The Monetary Authority of Singapore (MAS) has proposed a common protocol for digital money as financial institutions and fintech firms are launching trials for purpose bound money (PBM)under different scenarios. In its latest whitepaper, MAS details technical specifications that outline
Read More