Fintech Singapore http://fintechnews.sg - FintechNewsSG Mon, 08 Jan 2018 07:01:46 +0000 en-US hourly 1 Singapore Life to Acquire the Business Portfolio of Zurich Life Singapore http://fintechnews.sg/15805/insurtech/singapore-life-acquire-business-portfolio-zurich-life-singapore/ http://fintechnews.sg/15805/insurtech/singapore-life-acquire-business-portfolio-zurich-life-singapore/#respond Mon, 08 Jan 2018 07:01:46 +0000 http://fintechnews.sg/?p=15805 Singapore’s newest life insurer Singapore Life Pte. Ltd. (Singapore Life) and Zurich Life Insurance (Singapore) Pte. Ltd. (Zurich Life Singapore) have announced an agreement for Singapore Life to acquire the

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Singapore LifeSingapore’s newest life insurer Singapore Life Pte. Ltd. (Singapore Life) and Zurich Life Insurance (Singapore) Pte. Ltd. (Zurich Life Singapore) have announced an agreement for Singapore Life to acquire the business portfolio of Zurich Life Singapore.

Under this agreement, Singapore Life will become responsible for all Zurich Life Singapore’s customers’ policies, totaling approximately SGD6 billion of coverage for life, critical illness, and disability benefits.

This agreement follows Zurich Life Singapore’s closure to new business in December 2015 and does not affect any of Zurich’s other life or commercial Insurance businesses in Singapore, including Zurich International Life Limited (Singapore Branch) and Zurich Insurance Company Ltd. (Singapore Branch). The transfer of all Zurich Life Singapore’s policies to Singapore Life is expected to be completed in the first half of 2018, subject to confirmation by the High Court.

All policyholders who transfer to Singapore Life will continue to have the existing terms and conditions of their policies upheld and will enjoy the same service level as existing Singapore Life customers – including 24/7 access to their policies online.

They can take full advantage of online capabilities to manage their policies – either on their own or together with their financial advisers. All existing relationships between customers and their financial advisers will be maintained as well.

 Customers who are impacted will receive further information from Zurich Life Singapore and Singapore Life regarding the personal details of their transfer in early 2018.

 Mr Walter de Oude, Chief Executive Officer, Singapore Life, said:

Walter de Oude

Walter de Oude

“Singapore Life is thrilled to offer a new home to Zurich Life Singapore’s customers, and to continue enhancing their experience of owning insurance for many years to come. Singapore Life is built on the belief that technology will create a better kind of insurance company. Everybody needs life insurance and Singapore Life, being a digital insurer, makes it a better and easier experience.”

“Bringing this portfolio of customers into that of Singapore Life’s is exactly in line with our strategy to accelerate quickly in becoming a preferred Singaporean insurance company for our customers’ needs. With the strong support from our shareholders, we are confident that this agreement will demonstrate Singapore Life’s aspirations for significant growth and positively contribute to Singapore’s insurance industry and beyond. We will continue to look for further acquisitions over time,”

de Oude continued.

Mr David Kneale, Chief Executive Officer, Zurich Life Singapore, said:

David Kneale

David Kneale

“This decision is in line with Zurich’s strategy to optimise its portfolio and geographical footprint, and follows an extensive process to ensure that existing policyholder terms and conditions are safeguarded. We are confident our customers will continue to enjoy a high level of service and security with Singapore Life.

We remain fully committed to growing our commercial insurance business in Singapore and maintaining excellent customer service for our international life customers who are not impacted by the transfer.”

 

Featured image via singlife.com

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Top Fintech Vietnam News from December 2017 http://fintechnews.sg/15785/vietnam/top-fintech-vietnam-news-december-2017/ http://fintechnews.sg/15785/vietnam/top-fintech-vietnam-news-december-2017/#respond Mon, 08 Jan 2018 05:05:30 +0000 http://fintechnews.sg/?p=15785 Fintech Vietnam Meetup is back with the first newsletter of 2018, with all you need to know about Fintech in Vietnam. Before diving into the latest news, why not take a look

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Fintech Vietnam Meetup is back with the first newsletter of 2018, with all you need to know about Fintech in Vietnam. Before diving into the latest news, why not take a look at Fintech Vietnam in Review 2017?

This edition features progress in the payments sector such as the deployment of Masterpass QR codes and Wechat Payments in Airport outlets. We also see how regulators are eyeing and curbing the cryptocurrency craze in Vietnam.

 

Fintech Vietnam in Review

The Vietnamese fintech industry is on the rise, fueled by growing interest from foreign investors and a desire from the government to boost financial innovation.

The Vietnamese fintech industry is on the rise, fueled by growing interest from foreign investors and a desire from the government to boost financial innovation. ( Read more)

 

TOP Fintech Vietnam News

Cryptocurrency Mining Soars in Vietnam – Over 7000 Rigs Imported

Cryptocurrency Mining Soars in Vietnam – Over 7000 Rigs Imported

The Ho Chi Minh City Customs Department has revealed that 7,005 bitcoin mining rigs cleared customs from the beginning of 2017 to the middle of December, local publications reported. (Read more)

 

Ho Chi Minh City requests police intervention in bitcoin payment

Ho Chi Minh City requests police intervention in bitcoin payment

Tran Vinh Tuyen, deputy chair of the local People’s Committee, has demanded cooperation from the city’s police department and competent agencies in investigating transactions with the digital money and preventing investors and enthusiasts from engaging in the outlawed activity. (Read more)

 

MOIN touts fast money transfers for Vietnam debut

moin

THE K-ICT Born2Global Centre, a South Korean government agency under the Ministry of Science, ICT and Future Planning (MSIP), yesterday said that MOIN, one of its member companies, would launch a fast money transfer service in Vietnam in the first quarter of 2018. (Read more)

 

MasterCard deploys QR code payment in Vietnam

MasterCard deploys QR code payment in Vietnam Van Ly

Financial services firm MasterCard on December 11 introduced electronic payment service Masterpass QR in Vietnam, enabling MasterCard holders to pay by scanning QR codes at thousands of points of sale across Vietnam. (Read more)

 

After Alibaba, Amazon to arrive in Vietnam

amazon commerce

According to the chair of VECOM (Vietnam E-commerce Association) Nguyen Thanh Hung, the association met a representative of Amazon last week. Hung said Amazon’s strategy is to export goods across borders and import goods from Vietnam. (Read more)

 

VIMO to provide Wechat payment at Airport Outlets

VIMO to provide Wechat payment at Airport outlets

The leading mobile payment platform in Vietnam VIMO.vn has signed strategic e-payment partnership with Southern Airports Services Joint Stock Company (SASCO) to accept WeChat Pay (Weixin Pay) from Chinese tourists at duty free stores of Ho Chi Minh City’s (HCM) international airport, before expanding to other airport stores of SASCO across the country. (Read more)

 

Vietnam’s Generation Z Earns Little, but Loves Eating Out: Report

Vietnam's Generation Z Earns Little, but Loves Eating Out

Despite having little money, many members of Vietnam’s Generation Z spend a large percentage of their budget on eating out. (Read more)

 

Co-working spaces becoming more popular in Vietnam

Co-working spaces becoming more popular in Vietnam

The sharing economy has changed many habits of modern life. Many consumers prefer ‘shared riding’ with Grab and Uber, ‘shared accommodations’ when traveling with Couchsurfing and Airbnb and ‘shared working spaces’. (Read more)

 

Fintech Vietnam Jobs of the Month

 

Top Fintech South East Asia News

8 New Blockchain and Cryptocurrency Books to Learn Bitcoin and more

8-New-Blockchain-and-Cryptocurrency-Books-to-Learn

Cryptocurrencies have surged in value and popularity this year. This month, the combined market capitalization of all cryptocurrencies reached all-time high levels of more than US$445 billion this month. (Read more)

 

Top Asia Fintech Events for the 1st Half of 2018

Top Asia Fintech Events for the 1st Half of 2018

Now that 2017 is over, here are some of the top fintech events in the region you should look out for. Be sure to use the discount codes for more savings! (Read more)

 

Fintech Singapore 2017 in Review

Fintech in Asia Singapore

The fintech ecosystem in Singapore has grown significantly this year, with now more than 400 fintech ventures based in the city-state and over 30 fintech innovation labs or research centers set up by multinational corporations. (Read more)

 

Southeast Asia Is Riding a Global Trade Boom

Southeast Asia Is Riding a Global Trade Boom

Southeast Asian nations are riding a global trade boom that’s set to underpin solid economic growth next year, supporting the region as it embarks on monetary policy tightening and braces for a spate of elections. (Read more)

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Moneybank.Vn — First International Peer-To-Peer Lending Platform Taps Into Vietnamese Market http://fintechnews.sg/15776/vietnam/moneybank-vn-first-international-peer-peer-lending-platform-taps-vietnamese-market/ http://fintechnews.sg/15776/vietnam/moneybank-vn-first-international-peer-peer-lending-platform-taps-vietnamese-market/#respond Mon, 08 Jan 2018 03:37:02 +0000 http://fintechnews.sg/?p=15776 Singapore based consumer finance group Silkway Ventures has expanded its operations to Southeast Asian region by opening a subsidiary in Vietnam. The group announced that it has launched its online

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MoneyBankSingapore based consumer finance group Silkway Ventures has expanded its operations to Southeast Asian region by opening a subsidiary in Vietnam.

The group announced that it has launched its online peer-to-peer lending platform Moneybank.vn. Over the next five years the company plans to expand its footprint to other neighboring Asian markets to tap into a potential underbanked consumer base, estimated to be 500 million people.

Vietnam is the first international foray in the digital consumer lending space for Silkway Ventures.

Vietnam  has a population of over 90 million people, where demand for consumer finance services is rising rapidly and a large percentage of the population is virtually unbanked. At the same time the rate of Internet and smartphone penetration is already significant. The digital consumer finance model offers greater customer coverage at a significantly lower cost compared to traditional banking channels.

The move by Silkway Ventures into the Vietnam consumer finance market offers a welcoming Segway for fintech companies to access the market and drive further development in this sector.

Tech entrepreneur, founder and CEO Silkway Ventures Alexey Sidorov, said:

Alexey Sidorov

Alexey Sidorov

“We believe in the power of technologies in our hands combined with ideas in our minds. We want to bridge the gap and deliver consumer finance products to people across Asia.  Vietnam is a great market, we are very excited to be here and bring about our idea of inclusive finance.

The technological development, expertise and entrepreneurial ambitions of our team and growth and progress of other fintech companies in the USA and Europe have been an inspiration for us to pursue ever more ambitious milestones.

Our mission is to increase the level of financial inclusion leveraging technology to provide convenient access to credit services for millions of people. Today more than 2 billion people in the world do not have access to banking services and most of them live in Asia.”

The company has examined the potential demand for consumer credit in various Southeast Asian countries including regulatory issues, cultural concerns regarding the use of credit products, existing infrastructure, comprising payment systems, data providers and rate of Internet and smartphone penetration and found Vietnam to have the best “product-market” fit.

Silkway Ventures plans to increase business volume several fold in the next few years driven by the geographical expansion.  The company plans to invest a six digit number in the next 12 to 18 months at a ramp-up phase.

 

Featured image via http://moneybank.vn/en

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Googles Launchpad Accelerator includes 1 Philippines Fintech Startup http://fintechnews.sg/15017/fintech/googles-launchpad-accelerator-includes-1-philippines-fintech-startup/ http://fintechnews.sg/15017/fintech/googles-launchpad-accelerator-includes-1-philippines-fintech-startup/#comments Mon, 08 Jan 2018 03:28:25 +0000 http://fintechnews.sg/?p=15017 Google Launchpad Accelerator annouced the 5th class of our hands-on mentorship program. This includes a diverse group of startups from all over the world looking to tackle everything from streamlining medical records in

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Google Launchpad Accelerator annouced the 5th class of our hands-on mentorship program.

This includes a diverse group of startups from all over the world looking to tackle everything from streamlining medical records in Africa to improving breast cancer screenings. Also 5 Fintech Startups made it into the program.

Launchpad Accelerator is Google’s six month program that includes an intensive two week bootcamp in San Francisco and mentoring from 30+ teams across Google and expert mentors from top technology companies and VCs in Silicon Valley and globally. Participants receive equity-free support, credits for Google products and media training, and continue to work closely with Google back in their home country.

Class 5 kicks off January 29th, 2018 at the Google Developers Launchpad Space in San Francisco and will include 2 weeks of all-expense-paid training, as part of the the full 6-month program.

Here’s the full list of participating startups (by region):

 

Africa

Nigeria
helium healthHelium Health provides smart, rugged, all-in-one electronic medical records for Africa.

 

 

 

 

paylaterPaylater, by OneFi, is an online provider of digital financial services for the underbanked. (Fintech)

 

 

 

 

South Africa

aeroboticsAerobotics helps farmers optimize their yields and reduce their costs through its aerial data analytics platform

 

 

 

 

Asia

 

Bangladesh

Maya apaMaya Apa is your digital well-being assistant that intelligently understands your question and makes it easy to connect to real doctors & therapists

 

 

 

 

India
baby chakraBabyChakra is the trusted care companion to Indian parents from pregnancy to parenting.

 

 

 

 

m paanim.Paani powers real-time, direct to consumer engagement, marketing, loyalty and insights for mass-market consumers and retailers.

 

 

 

 

NiramaiNIRAMAI is a HealthTech startup that has developed a novel Breast Cancer Screening solution that can save lives by detecting cancer at an early stage.

 

 

 

 

social copsSocialCops empowers organizations to make better decisions through data.

 

 

 

 

 

kulinaKulina is a meal subscription service that uses technology to optimise inefficiencies in supply chain and logistics.

 

 

 

 

Pakistan

vivid technologyVividTech transforms customer services experience by allowing users to “dial” into a digital/visual experience of navigating through the IVR trees.

 

 

 

 

Philippines

ayannahAyannah enables affordable and accessible digital financial services to the world’s emerging middle class. (Fintech)

 

 

 

 

Thailand

pricezaPriceza offers a search engine and price comparison app for shopping.

 

 

 

 

 

Vietnam

monkey juniorMonkey Junior creates educational solutions for kids up to 10 to learn languages, maths and science.

 

 

 

 

Europe

Hungary

synetiqSynetiq helps brands & media producers create high performing video ads using machine learning and biometric emotional insights from their target audience.

 

 

 

 

Poland

szopiSzopi offers a same-day delivery platform for groceries and pharmaceuticals.

 

 

 

 

 

Russia

app in the airApp in the Air offers a personal travel assistant for flight tracking and exploring airports.

 

 

 

 

VoximplantVoximplant offers a versatile cloud communications platform.

 

 

 

 

 

Latin America

Argentina

etermaxEtermax is a creator of massive social gaming apps such as Trivia Crack.

 

 

 

 

 

restorandoRestorando is the leading dining-out marketplace in Latin America.

 

 

 

 

 

Brazil

loggiLoggi creates new-wave logistics, powered by intelligent software and humane technology.

 

 

 

 

nubankNubank is a financial technology company offering a fully digital and branchless experience. (Fintech)

 

 

 

 

Grupo ZAP Viva RealGrupo ZAP Viva Real is an online real estate marketplace that connects buyers, sellers, and renters with properties in Brazil.

 

 

 

 

Mexico

clipClip is the service that allows you to accept payments with any credit or debit card, at any time and anywhere, turning your smartphone or tablet into a banking terminal. (Fintech)

 

 

 

 

Kubo financieroKubo.financiero is a P2P lending platform in Mexico regulated by local authorities including The Bank of México, CNBV and CONDUSEF. (Fintech)

 

 

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Chinese Robo-Advisory Company Launches Digital Wealth Management Service in Singapore http://fintechnews.sg/12879/fintech/pintec-lchinese-robo-advisory-company-launches-digital-wealth-management-service-in-singapore/ http://fintechnews.sg/12879/fintech/pintec-lchinese-robo-advisory-company-launches-digital-wealth-management-service-in-singapore/#respond Fri, 05 Jan 2018 10:28:11 +0000 http://fintechnews.sg/?p=12879 PINTEC Group, a fintech player in China, announced the launch of PIVOT Fintech Pte. Ltd. (“PIVOT”), to offer digital wealth management technology services powered by artificial intelligence and machine learning

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PINTEC Group, a fintech player in China, announced the launch of PIVOT Fintech Pte. Ltd. (“PIVOT”), to offer digital wealth management technology services powered by artificial intelligence and machine learning throughout Southeast Asia from its base in Singapore.

It’s the first time that a Chinese robo-advisory company has developed its business outside of China.

PIVOT will be PINTEC’s first venture outside of China, and is in part backed by pan-Asian life insurer FWD Group and angel investors.

William Wei

“We are pleased to collaborate with an innovative and entrepreneurial financial group like FWD,”

said William Wei, CEO of PINTEC Group.

“Through PIVOT, we hope to both tap the huge fintech potential in Southeast Asia, while also supporting the call of the Chinese government’s One Belt, One Road Initiative.”

 

PIVOT will operate in Southeast Asia to offer PINTEC’s proprietary dynamic, real-time wealth management and robo-advisory technology to financial institutions. Tracing its roots to 2012 when it first began operating in the digital credit analytics space, PINTEC has since grown to include AI and data-driven technologies such as robo advisory (POLARIS), digital lending (DUMIAO), online mutual funds (HONGDIAN), and online insurance broking (MYFIN).

Pintec Brands via Pintec.com

Zheng Yudong

“With over 400 technical engineers, data analysts and staff, PINTEC will support PIVOT throughout Southeast Asia,”

said Zheng Yudong, Chief Executive Officer of PINTEC’s POLARIS unit.

“We want to offer a truly intelligent platform that mitigates risk by decreasing human interference and level the playing field for customers.”

 

A unique solution offered by PIVOT is “dynamic asset allocation” powered by machine learning algorithms. Every investment model portfolio is designed using predicted information and matched to the investor’s personal investment risk profile – at the time when the investor enrolls. As investment markets change all the time, the model portfolios are machine-determined each new day without human intervention. Furthermore, any portfolio rebalancing at PIVOT is driven not only by market changes to the specific investor’s portfolio, but also on machine-predictions of market trends, transaction costs, liquidity and other friction-related factors. The solution allows investors to sense the likelihood of rebalancing via a unique probability indicator on the mobile app.

PINTEC launched its digital wealth-management and robo-advisory unit (POLARIS) in June 2016, and has successfully implemented the AI and machine learning platform for mainstream financial institutions in China, such as Minsheng Securities and Anbang Insurance Group.

POLARIS is unique with completely machine-generated models based on latest market data and trends, adjusted in real time 24×7, and managed to the specified risk profile of the customer. POLARIS’ asset allocation algorithms have passed rigorous testing and regulatory compliance standards to meet the growing demand for low cost, transparent and risk-managed long-term investment portfolios.

“PIVOT is an exciting opportunity for customers in the region,”

said Victor Lye, Co-Founder & CEO of PIVOT.

“I will leverage my 25-year experience in investments, insurance and healthcare to deliver better value and transparency with our digital wealth management engine. PIVOT is off to a good start, being among 11 finalists selected from over 160 applicants from around the world to showcase our solutions at the FinTech Abu Dhabi Innovation Challenge in October 2017.”

 

Featured image via ixuanji.com

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Top 5 Fintech Philippines News of the Week (CW 1) http://fintechnews.sg/15764/philippines/top-5-fintech-philippines-news-week-cw-1/ http://fintechnews.sg/15764/philippines/top-5-fintech-philippines-news-week-cw-1/#respond Fri, 05 Jan 2018 03:47:03 +0000 http://fintechnews.sg/?p=15764 Fintechnews.PH picks every Friday for you the top 5 Fintech Philippines News of the week: Here we go:   BSP urges public to convert from magnetic stripe card to EMV

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Fintechnews.PH picks every Friday for you the top 5 Fintech Philippines News of the week:
Here we go:

 

BSP urges public to convert from magnetic stripe card to EMV chip card

emv chip

Banks have recently been requesting customers to convert their existing debit cards into EMV chip cards. (Read more)

 

2017 holiday season saw marked rise in e-buying

Paymaya beep card

More and more young Filipinos are embracing the digital age, according to latest data from tech company Voyager Innovations Inc., which recorded an almost threefold increase in unique online and cashless transactions during the last two months of 2017. (Read more)

 

Consumer lending to be banks’ new battleground

BSP

CONSUMER LENDING will serve as the main battleground for banks in the Philippines over the next few years, a central bank official said, depending on how fast and efficient players can adopt digital channels to enhance financial services. (Read more)

 

SEC probes offering of Calata-Led KROPS

Securities-and-Exchange-Commission

The Securities and Exchange Commission is probing the ongoing initial coin offering (ICO) launched by Krops, an online marketplace for farm produce led by controversial businessman Joseph Calata. (Read more)

 

BSP issues new warning on virtual currencies

BSP-Manila

With increased interests in virtual currencies (VC) such as Bitcoin, the Bangko Sentral ng Pilipinas (BSP) reissued its earlier warning against the risks including money laundering and its pyramid-like marketing as an investment vehicle. (Read more)

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OCBC Bank Launches One-Stop Advisory Service For Property Purchase http://fintechnews.sg/15753/personalfinance/ocbc-bank-launches-one-stop-advisory-service-property-purchase/ http://fintechnews.sg/15753/personalfinance/ocbc-bank-launches-one-stop-advisory-service-property-purchase/#respond Thu, 04 Jan 2018 04:39:51 +0000 http://fintechnews.sg/?p=15753 If you have purchased or know someone who has purchased a residential property in Singapore, you would be familiar with this common refrain: Why do I have to go to

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If you have purchased or know someone who has purchased a residential property in Singapore, you would be familiar with this common refrain:

Why do I have to go to so many sources to get everything? A one-stop service that gives me information and advice about buying my dream home and how I can finance it would be really useful.

OCBC BankWell, we have heard you and invite you to visit the OCBC OneAdvisor Home portal. OCBC Bank is the first bank in Singapore to launch an online advisory service that brings together everything that both first-time home buyers as well as seasoned investors would need – from property listings, policy details, rules and regulations, to comprehensive affordability advice.

While most advisory tools in the market can only derive the loan amount a buyer can borrow based on the total debt servicing ratio, the OCBC OneAdvisor Home affordability tool computes the price range affordability for the buyer, including down-payment, stamp duty, minimum cash payment as well as legal and agent fees.

For this initial phase, you can expect:

1) What kind of home you can afford:

  • Extensive and detailed analysis of what a buyer can afford based on his desired type of housing or desired property price
  • A shortlist of residential properties for sale based on the computed affordability price range

2) What you should know about policies, rules and regulations governing:

  • Purchase and ownership of a home
  • Usage of Central Provident Fund balances
  • Different types of bank loans

3) Selected articles about what you need to know when purchasing and financing a home. For instance:

  • Hidden costs to watch out for when buying a home
  • CPF: Use it or hoard it?
  • Step-by-step guide to financing your new home
  • Is freehold better than leasehold?

4) Useful information beyond the home buying journey, such as:

  • Legacy planning
  • Restructuring property ownership
  • Mortgage and home content insurance

5) Getting in touch with a Mortgage Specialist for a customized consultation or to apply for a loan. And this is just the beginning.

OneAdvisor

More services will be added on

While current property listings based on a buyer’s affordability are pulled from EdgeProp.sg, other features will be added through API based collaboration with other service providers over the next few months.

Plans are also underway to allow for home buyers to get to know our Mortgage Specialists without having to first meet them face-to-face. Akin to popular e-commerce and travel apps, this game-changing new feature allows home buyers to see the past ratings and testimonials given by our Mortgage

 

Specialists’ former clients.

In the coming months, OCBC OneAdvisor Home will allow home buyers to submit necessary documents through the website for a secure Credit Bureau check. In addition, home sellers will be able to get an indicative value of their properties from an accredited valuer.

In line with our goal to create a holistic home buying journey for everyone, services like the application for a renovation loan will be added in the future. Ms Phang Lah Hwa, Head of Consumer Secured Lending, OCBC Bank, said,

“While technology, customer savviness and behaviour have changed significantly over the years, the home loans business has largely stayed the same – banks have essentially just fulfilled one aspect of the entire home buying process, which is to provide a loan. We recognise that we can do much more for home buyers.

This service was developed to bring together all the advice under one roof – demystifying the home buying process and making the financing journey seamless for customers. We are also working with many valued partners in the property ecosystem to expand our property-related offerings, so do look out for upcoming developments on OCBC OneAdvisorHome.’’

 

Featured image via www.ocbc.com/oneadvisorhome

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LiveEdu ICO – Future Technologies and Topics in the LiveEdu Ecosystem http://fintechnews.sg/15740/fintech/liveedu-ico-future-technologies-topics-liveedu-ecosystem/ http://fintechnews.sg/15740/fintech/liveedu-ico-future-technologies-topics-liveedu-ecosystem/#respond Wed, 03 Jan 2018 19:23:41 +0000 http://fintechnews.sg/?p=15740 LiveEdu is a decentralized learning ecosystem that teaches people how to build complete products in future technological fields. They are building the YouTube for online education. You can also describe

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LiveEdu is a decentralized learning ecosystem that teaches people how to build complete products in future technological fields.

They are building the YouTube for online education. You can also describe their ecosystem as the next-generation Lynda.com. Unlike existing online education platforms, LiveEdu is not focused on beginners, but mainly intermediates to experts.

People learn on LiveEdu by watching how peers build real projects and can also download all project resources and files. The new LiveEdu platform is set to launch in 2018 and will start with eight main topics which encompasses several subcategories: Artificial Intelligence, Cybersecurity, Game Development, Data Science, Cryptocurrencies, Programming, Design, and Augmented and Virtual Reality. Project creators in the LiveEdu ecosystem will build 10,000 projects for these topics.

The LiveEdu public sale starts from Jan 15th, 2018 — Feb 10, 2018. Education (EDU) tokens can be purchased directly using ether (ETH), bitcoins (BTC) and other cryptocurrencies (via Shapeshift). Bonus starts from 20%.

 

Artificial Intelligence

Artificial Intelligence

The LiveEdu Artificial Intelligence topic explores the ability of a digital data processor or information processing system-controlled robot to perform tasks commonly associated with intelligent living beings. It is comprised of the following subcategories: Computer Vision, Natural Language Processing, Machine Learning, Robotics, and Self-driving car.

 

Cybersecurity

cybersecurity

The LiveEdu’s Cybersecurity topic illuminates why information is constantly at a risk of being exploited and securing data. The subcategories are: Ethical Hacking, Mobile Security, Malware‎/Ransomware protection, Internet of Things Security, Cybercrime and Information Warfare.

 

Game Development

game development

The LiveEdu Game Development topic facilitates the emergence of new technologies to make it possible to develop better and more powerful games. LiveEdu holistically improves game development in the following subcategories of GameDev, Unity, Love2D, Unreal Engine and GameMaker.

 

Data Science

data science

The LiveEdu Data Science topic has a multidisciplinary blend of data inference, algorithm development, and technology in order to solve analytical complex problems. Within this topic they have subcategories of Data Visualization, Data Mining, Data Analytics, Text Processing, Wolfram, Data Warehouse and Big Data.

 

Cryptocurrencies

Cryptocurrencies

Under the LiveEdu Cryptocurrency topic we delve into the greatest revolution in the finance industry in the last millennium. The subcategories are Cryptocurrency Basics, Ethereum, Security and Hacking, Blockchain Mining, BitCoin, and ICOs.

 

Programming

programming

The topic programming in the LiveEdu ecosystem covers over 100 programming languages and frameworks such as PHP, JavaScript, C-C++, Java, HTML-CSS, C#-.NET, React.js, Python, Django, C++, and Node.js.

 

Design

design

The LiveEdu Design topic is focused on a specific problem in human experience and endeavoring to improve said experience. It comprises the following subcategories, Art and Illustration, Mobile App Design, Logo design, Web App Design, and UX design.

 

Virtual and Augmented Reality

Virtual and Augmented Reality

The LiveEdu Virtual and Augmented Reality topic hurtles you into the great beyond and boldly goes where no other online education has taken VR & AR. It covers the subcategories of VR Games, Desktop and Console VR, Augmented reality and Mobile VR.

ICO investors will have voting rights for every key decision in the ecosystem which includes advising which new topics or product features are to be added.

 

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Disclaimer: this is an article written by LiveEdu. Fintechnews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company. Fintechnews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Please note this is no investment advice.

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8 promising Fintech Startups in Singapore to Watch in 2018 http://fintechnews.sg/15716/fintech/8-fintech-startups-singapore-watch-2018/ http://fintechnews.sg/15716/fintech/8-fintech-startups-singapore-watch-2018/#respond Wed, 03 Jan 2018 08:30:34 +0000 http://fintechnews.sg/?p=15716 Singapore had a great year 2017 with local startups expanding globally, additional supports from the government and several initiatives being launched to foster development and boost the sector. 2018 promises

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Singapore had a great year 2017 with local startups expanding globally, additional supports from the government and several initiatives being launched to foster development and boost the sector.

2018 promises to be an even more exciting year for fintech in Singapore as numerous startups prepare to tap into new markets, expand their offerings and grow into potential regional leaders.

Here’s a list of eight startups from Singapore to watch in 2018:

 

MyCash Online (Financial Inclusion)

MyCash OnlineMyCash Online is an online marketplace designed for migrant workers in Malaysia and Singapore. It provides easy, secure and convenient services to the unbanked, including international mobile top-ups, bus tickets, bill payments as well as remittance services.

A Malaysian startup, MyCash Online will soon be moving its headquarters to Singapore. MyCash Online already received regulatory approval from the Monetary Authority of Singapore. It said it will be applying for a remittance license in Singapore in 2018.

MyCashOnline is targeting 3,000 transactions per month by March 2018, tripling its current amount in two months. By the end of 2018, it aims to have 500,000 customers and at least 3,000 mobile sales representatives throughout Malaysia. The startup is also planning to launch a special payroll system that companies can use for their migrant workers instead of paying them in cash every month.

 

Instarem (Money Transfer)

InstaremInstarem is a remittance startup that aims to offer fast, safe and cost effective cross border money transfer services for individuals and businesses from countries including Hong Kong, Australia and Singapore to more than 25 countries.

Instarem started operations in Australia in 2015 before moving its headquarters to Singapore. The startup is currently licensed in several countries such as Australia, Hong Kong, Singapore, Canada, and most recently Malaysia and Lithuania.

The aggressive expansion followed Instarem’s US$13 million Series B funding round raised in July 2017.

 

Singapore Life (Insurtech)

Singapore LifeSingapore Life is a new life insurance firm which commenced its operations in 2017 by providing insurance solutions via its online platform. The company targets the high net worth customer segment.

Singapore Life is a fully licensed direct life insurer and is the brainchild of South African-born Walter de Oude, the firm’s CEO and the former CEO of HSBC Insurance Singapore.

In April 2017, Singapore Life raised US$50 million in its Series A, the largest round so far by a Singapore-based insurtech company. It also partnered with two leading insurers, Munich Re Group and Pacific Life Re.

 

soCash (Personal Finance, Cash)

soCashsoCash has developed a solution that allows people to withdraw cash at small businesses part of its “Cashpoints” network. The solution plugs into the mobile apps of banks.

soCash raised an undisclosed amount in a Series A funding round in October 2017 to scale its operations and expand its teams after signing a partnership with Standard Chartered Bank to allow the bank’s customers to withdraw cash at more than 400 points through its mobile app SC Mobile.

 

Bluzelle Networks (Blockchain)

Bluzelle LogoBluzelle Networks is a blockchain startup that’s building a decentralized, on-demand, scalable database for decentralized applications. Bluzelle Networks uses idle computer hardware by incentivizing people to rent out their resources to create a decentralized crypto-economic database network.

Bluzelle Networks raised US$1.5 million in its Series A funding round in August 2017. The startup is now looking to raise US$19.5 million in a token sale scheduled to begin later this month. Bluzelle Networks is a partner of KPMG Digital Village.

 

TenX (Crypto Marketplace)

TenXTenX is a cryptocurrency payment platform that consists of a wallet, physical debit card, bank account, ATM access and more. The multi-currency TenX wallet is available on Android, iOS, and web, and currently supports Bitcoin, Ethereum, Dash, and ERC20 tokens.

The startup aims to offer cryptocurrency user access to as large as possible a range of blockchain assets at a maximum degree of convenience, while adhering to the highest security standards in the ecosystem. In order to do this, TenX leverages on the COMIT network to connect blockchains.

In 2017, TenX raised US$80 million in its token sale in under 36 hours, one of the largest ICOs at the time. The same year, the startup was honored as the Gold Winner of the Florin Asia Innovation Awards.

 

AGDelta (Online Wealth Mgt)

AGDelta_LogoAGDelta is a Singapore headquartered fintech software company specialized in digital wealth management. Its core business is divided into three main product lines: Enterprise Wealth Compliance, Order + Execution Management, and Digital Advisory.

The company serves the banking industry, wealth managers and investments professionals with services that include price discovery, pre-at-trade client and product suitability, market connectivity, order request and execution management, lifecycle management, reporting and audit, and data analytics.

AGDelta was awarded the first place at this year’s MAS Fintech Awards, Singapore SME category, during the 2017 Singapore Fintech Festival.

 

Flywire (Payment Solution)

flywireFlywire, formerly peerTransfer, is a provider of international payment solutions headquartered in Boston with operations in Singapore, China, Australia, Spain and the UK. Flywire provides businesses, educational institutions and healthcare providers with the ability to offer their customers a tailored, international payment experience.

The company expanded aggressively in 2017, making inroads into the Japanese education market and further strengthening its presence in Europe, notably in the UK and Ireland, as well as Spain.

In Singapore, the company’s home base for the entire Asia Pacific, Flywire was recognized as one of the top fintech leaders and was awarded the first place at the 2017 MAS Fintech Awards, Singapore Open category.

 

Featured picture via pixabay

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IBM Completes Proof-of-Concept Blockchain-Based Shared KYC http://fintechnews.sg/14420/blockchain/ibm-completes-poc-blockchain-based-shared-kyc-deutsche-bank-hsbc-mufg-cargill-ibm-treasuries/ http://fintechnews.sg/14420/blockchain/ibm-completes-poc-blockchain-based-shared-kyc-deutsche-bank-hsbc-mufg-cargill-ibm-treasuries/#respond Wed, 03 Jan 2018 06:59:25 +0000 http://fintechnews.sg/?p=14420 IBM  announced the successful completion of the Phase I proof-of-concept (POC) of its Shared Corporate Know Your Customer (KYC) project with Deutsche Bank, HSBC, Mitsubishi UFJ Financial Group (MUFG) and

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IBM  announced the successful completion of the Phase I proof-of-concept (POC) of its Shared Corporate Know Your Customer (KYC) project with Deutsche Bank, HSBC, Mitsubishi UFJ Financial Group (MUFG) and the Treasuries of Cargill, IBM.

Through the Shared KYC POC, IBM successfully demonstrated how the Blockchain-based IBM Shared KYC platform provides a secure, decentralized and efficient mechanism for banks to collect, validate, store, share, and refresh trusted KYC information of corporate customers.

Through this collaboration, IBM has established client provisioned and consented sharing of KYC information and securing documents with encryption. Network trust is established through digitally verified documents on the Blockchain and the underlying consensus protocols. The overall objectives of the Shared KYC project, of which the technology-focused POC was the first phase, are to:

  • Define harmonized standards for the collection and validation of certain core documents and information agreeable to all bank participants;
  • Eliminate repetition of mundane documentary tasks through collaboration and privacy-preserving sharing while shifting focus of human intervention to the higher-value tasks of risk evaluation and decision making;
  • Create a sharing economy environment (where the whole is greater than the sum of the parts) that is an inclusive ecosystem open to all banks, corporate customers, third party service providers, and regulators;
  • Digitize all corporate KYC information to preserve authenticity and accuracy, and provide greater flexibility for query and analysis of the data; and
  • Increase transparency and trust through technology with up-to-date shared standards improving collective knowledge of AML risk and double-blind privacy model ensuring client confidentiality.

Blockchain provides a safe, secure, and scalable infrastructure to support the sharing of common KYC information providing benefits to all network participants – banks, corporates, service providers and regulators. This initiative aligns with the Monetary Authority of Singapore’s vision to drive innovation in modernizing Singapore’s Finance Infrastructure, and at the same time, enhances transparency into KYC processes performed by Banks.

Banks will be able to use such a platform to enhance the customer experience, automate mandatory processes and eliminate duplication through harmonizing and sharing KYC information resulting in operational savings and, over time, reduced operational risk. The corporates also benefit from reduced paperwork by doing KYC once and sharing it with relevant financial institutions through a user-controlled consent model.

The governance of the shared KYC network will include regular certification of contributing banks to assess their compliance with the harmonized standards and provide transparency and confidence to the wider group of participating banks.

With the fast-paced growth of Banking and Finance in Singapore, the current process, which is manual, repetitive, inefficient and expensive, will not be able to keep up. Shared KYC aims to harmonize standards across banks with a focus on digitization of documentation, and multiple levels of information validation and augmentation, ensuring security and privacy for the platform participants.

 

Featured image via Pixabay

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