Archive
All posts by categoryAdvertorial
How MyInfo Revolutionized Verification Process in Singapore
MyInfo made verification process easier than ever for the citizens of Singapore and thanks to BASIS ID every FinTech can now integrate this service into its platform. Know Your Customer or simply KYC remains one of the biggest pains for
Read MoreAI
Redefining Project Management: AI and Automation at the Helm
Navigating the New Wave: AI’s Role in Project Management Do you recall those days when manually sifting through data was a task? Or when tracking project timelines felt cumbersome? If the nostalgia hits hard, there’s good news. AI and automation
Read MoreAustralia
Backbase and FrankieOne to Bolster Digital Onboarding for ANZ Banks, Credit Unions
Digital banking software provider Backbase has partnered with FrankieOne, an Australian home-grown identity verification and fraud prevention platform provider. The partnership will enable Australian and New Zealand (ANZ) banks and credit unions to onboard customers and members seamlessly and securely.
Read MoreAward
Meet the 36 SFF Global Fintech Awards Winners
36 companies and individuals have been selected as winners of the SFF Global Fintech Awards 2022 under the theme “Embracing Digital, Charting the New Normal”. The winners, which were announced during the Singapore Fintech Festival’s Fintech Awards Dinner, were selected
Read MoreBangladesh
Huawei and bKash to Advance Financial Inclusion in Bangladesh in line with SDGs
In the bustling nation of Bangladesh, home to a vast population, a digital transformation has taken the nation by storm as the mobile financial services (MFS) sector experiences unprecedented growth. Recent data from the central bank reveals that a staggering
Read MoreBig Data
Tenity and Julius Baer Announce Winners of Intrapreneurship Programme
Tenity, a fintech incubator and accelerator formerly known as F10, and Swiss wealth management group Julius Baer has announced the winners for the Julius Baer x Tenity Intrapreneurship Programme. The six-week programme, which ran from 27 May to 12 July
Read MoreBlockchain
UBS Asset Management Launches First Blockchain-Native Tokenized VCC Fund Pilot in Singapore
UBS Asset Management has launched its first live pilot of a tokenized Variable Capital Company (VCC) fund. The fund is part of a wider VCC umbrella designed to bring various “real world assets” on-chain as part of Project Guardian, a
Read MoreBrunei
Brunei’s Baiduri Bank Taps finbots.ai for AI-Powered Credit Scoring
Brunei’s Baiduri Bank has selected finbots.ai, an AI-powered credit scoring software provider backed by Accel, to accelerate the bank’s financial inclusion drive for the underserved credit market. By adopting finbots’ AI credit modelling solution, creditX, Baiduri Bank will be able
Read MoreCambodia
Laotian Super-App Gears up for Cambodia Expansion
Laos’ biggest ride-hailing platform and super-app Loca has teamed up with Confluences, a Phnom Penh-based enterprise which specializes in assisting foreign businesses enter the local market, to expand into Cambodia. The move comes just a few months after the company
Read MoreChina
Singapore, China Strengthen Green Finance and Capital Market Cooperation
New initiatives to expand cooperation in green finance and deepen capital market linkages with China were recently announced by the Monetary Authority of Singapore (MAS) at Singapore’s 18th Joint Council for Bilateral Cooperation (JCBC). Among the initiatives is the establishment
Read MoreCloud
Mambu Bags Google Cloud Award
Cloud banking platform Mambu has been recognized as the 2023 Google Cloud Industry Solution Technology Partner of the Year Award for Financial Services and Insurance. Mambu was recognized for its achievements in the Google Cloud ecosystem, helping joint customers leverage
Read MoreCompany Announcement
Craig Bennett Is Temenos’ New APAC Managing Director
Banking software company Temenos announced that Craig Bennett has been promoted to Managing Director – Asia-Pacific, responsible for driving strategy and execution in the region. Temenos continues to see strong momentum across the region, with recent milestones such as the
Read MoreContests
MatchMove Pay To Tap Into Southeast Asia’s Remittance Market, Hyperledger Wins Innotribe Startup Challenge
Exciting things are happening in Singapore. In case you missed it last week, MatchMove Pay, one of the hottest fintech startups in Southeast Asia, was granted a remittance license from Singapore’s central bank to tap into Southeast Asia’s juicy remittance
Read MoreCovid19
4 Trends That Will Shape Financial Services in a Post-COVID World
The groundswell of digitalisation that forced whole industries and services online in 2020 during the early onset of the COVID-19 pandemic, only continued growing in 2021 despite the return to office-based work and vaccine rollouts across the globe. Corporations, SMEs,
Read MoreCreditCards
Useful Life Hacks – How To Improve Your Credit Score Fast?
Your credit score is one of the most important numbers in your life. It can determine whether you can get a loan, how much you’ll have to pay for that loan, and even whether you can get a job. A
Read MoreCrowdfunding
Southeast Asia’s Underbanked Consumers and Businesses Embrace Alternative Financing Platforms
In Southeast Asia, digital financial services are contributing to advancing financial inclusion for both individual and business users, oftentimes arising as the last resort to secure much need financing, according to a new report by the Cambridge Centre for Alternative
Read MoreCrypto
Coinbase Singapore Receives Major Payment Institution Licence from MAS
Coinbase Singapore has been granted a Major Payment Institution (MPI) licence by the Monetary Authority of Singapore (MAS). This follows its initial In Principle Approval and facilitates an extended offering of Digital Payment Token services in Singapore. Singapore’s growing role
Read MoreDigital Assets
Coinbase Singapore Receives Major Payment Institution Licence from MAS
Coinbase Singapore has been granted a Major Payment Institution (MPI) licence by the Monetary Authority of Singapore (MAS). This follows its initial In Principle Approval and facilitates an extended offering of Digital Payment Token services in Singapore. Singapore’s growing role
Read MoreDigital Transformation
BIS, France, Singapore, and Switzerland Report Success in Cross-Border Wholesale CBDCs Test
The Bank for International Settlements (BIS), in collaboration with the central banks of France, Singapore, and Switzerland, have concluded “Project Mariana“. This project examined the cross-border trading and settlement of wholesale central bank digital currencies (wCBDCs) using state-of-the-art decentralized finance
Read MoreE-commerce
ZaloPay Becomes First Vietnamese E-Wallet to Partner with Shopify
ZaloPay announced that it has become the first Vietnamese e-wallet provider to partner with Shopify, an e-commerce company headquartered in Canada. Through this partnership, ZaloPay and Shopify aim to promote the “brand.com website model” in Vietnam. This model helps businesses build
Read Moree-Commerce Fraud Blog
Are You Protecting Your Digital Wallet Users From Fraud?
As more users adopt them, fully digital payment methods like e-wallets are becoming increasingly vulnerable: fraud can creep in before and during transactions. More than 140 million people adopted digital wallets in 2019 globally. This number is only projected to increase in
Read MoreE-wallets
Grab Shuts Down Investment Business, Users Have Until 13 Oct to Withdraw Funds
Ride-hailing and food delivery superapp Grab announced that it will be shuttering its investment business in Singapore by discontinuing its AutoInvest and Earn+ products. Micro-investment platform AutoInvest is Grab’s first retail wealth management product was formed as a result of
Read MoreEconomy
4 Tips to Pay Off Your Debt Without Being Overwhelmed
Are you struggling to pay off your student debt loans amid rising interest rates and increasing financial insecurity? Paying off debt can prove overwhelmingly stressful, especially if you spend uncontrollably and struggle to control your urges. Millions of Americans struggle
Read MoreEvents
Unleash Digital Mastery at AWS Cloud Day Indonesia
In the rapidly evolving landscape of technology, the ability to adapt, innovate, and embrace change has become a cornerstone of organisational success. The imperative to embrace innovation and leverage cutting-edge tools is not just a strategic consideration; it’s an essential
Read MoreFinancial Inclusion
Strong Support for CBDCs in Emerging Asia, But Concerns Loom
The rise of digital technologies has triggered a paradigm shift in the financial landscape, with central bank digital currencies (CBDCs) emerging as a crucial topic of discussion among policymakers and financial professionals globally. As the opportunities and challenges of incorporating
Read MoreFintech IPO
Southeast Asia’s Top 5 Largest Fintech Unicorn Exits
Over the past decade, Southeast Asia’s startup ecosystem has significantly matured with an estimated US$52 billion of venture capital (VC) invested into startups and an increasing number of large late stage deals, according to a 2021 report by investment firm
Read MoreFintech Opinion Leader
Banking Consumers Want Financial Empowerment, Not Just Apps
Consumers don’t just want shiny apps and digital banking, they want to feel that their bank is a partner who can help them reach financial empowerment. That is the finding of a new ethnographic study by Finastra, which has gone
Read MoreFintech Security Leader
Bad Bots Keep Their Eyes on the Money
If you could look like a million people, what kinds of crimes could you commit? Today’s fraudsters have access to enormous resources and pretend to be a whole horde of people with nearly limitless options at their disposal to mask
Read MoreFintech Startup of the Week
CardUp Allows You to Pay Your Rent, Tax, Insurance and More With Your Credit Card – and Earn Additional Rewards
COVID-19 continues to spread in Singapore with 257 new reported cases, bringing the national total to 41,473, including 26 deaths, according to latest data from the Ministry of Health, dated June 18. As a result of the pandemic and ensuing
Read MoreFunding
Funding Societies Secures US$27 Million Debt Financing
Funding Societies | Modalku, an SME digital financing platform in Southeast Asia, has raised US$27 million in debt financing. The debt fundraise was led by Asia-focused private credit financier AlteriQ Global, with multi-family office Aument Capital Partners (ACP) and sustainability-focused
Read MoreGreen Fintech
HSBC Bets on Climate Tech with US$1 Billion Investment
HSBC has pledged to invest US$1 billion in high-potential early-stage climate tech companies around the world. The funding will support startups working on a range of new solutions, including EV charging, battery storage, sustainable food and agriculture, and carbon removal
Read MoreHealthtech
Doctor Anywhere Secures USD38.8 Million Funding and Announces Acquisition
Doctor Anywhere (DA), a regional tech-led healthcare company headquartered in Singapore, announced that it has acquired Catalist-listed Asian Healthcare Specialists , an integrated healthcare provider in Singapore. Asian Healthcare Specialists is a group of 14 medical specialists, with a patient-first
Read MoreHong Kong
Babel Finance Files for Moratorium, Works on New Stablecoin to Repay US$766M Loss
Hong Kong-based crypto lender Babel Finance has filed applications in the Singapore High Court to buy more time from its creditors for up to six months. The moratorium is intended to allow the restructuring efforts made by Babel Finance in
Read MoreIndia
Razorpay Acquires Digital Invoicing Startup BillMe
Indian payment gateway provider Razorpay announced that it has acquired BillMe, a Mumbai-based digital invoicing and customer engagement startup. Details of the deal was not disclosed. Founded in 2018, BillMe serves over 15,000 retail points of sale for over 4000
Read MoreIndonesia
A Smarter Way for Corporate Banking Authentication
In the wake of the pandemic that struck in 2020, businesses have been severely affected. A study by the World Bank found that one-quarter of businesses saw their sales fall by 50%. Today, three and a half years later, businesses,
Read MoreInfographic
Fintech Infographic of the Week: Making Investing More Accessible with Decentralized Finance
Across the globe, access to financial markets diverges dramatically from one country to another. While in the US about 52% of people are investing in the stock market, in emerging countries like India and Mexico, the figure drops significantly with
Read MoreInnovation
Crypto.com to Set up Global Innovation Lab for Blockchain, WEB3.0 and AI Projects
Digital asset exchange Crypto.com announced that it will establish its first Global Innovation Lab in Singapore, making the city-state its designated global R&D hub. The new lab will be focused on identifying novel applications for blockchain, WEB3.0 and AI as
Read MoreInsurTech
MAS Unveils List of ‘Too-Big-to-Fail’ Insurers, May Face Higher Cap Requirements
The Monetary Authority of Singapore (MAS) will be imposing higher capital requirements on domestic systemically important insurers (D-SIIs) as part of its efforts to strengthen the resilience of the financial sector. In a D-SII framework that will come into effect
Read MoreIOT
Changing the World With Bank of Things
Digital transformation is now everywhere, as every industry is actively adopting advanced information and communications technology (ICT) while changing business practices. The digital economy is extending its presence with speed, ease of access, as well as the power penetration that
Read MoreJobs
Fintech Layoffs Rock Asia in 2023: Who’s Next?
The fintech industry in Asia has been experiencing a wave of layoffs in 2023 as several companies grapple with economic uncertainties, market downturns, and the need for cost-cutting measures. From Singapore to Hong Kong, prominent fintech players have been forced
Read MoreKazakhstan
Fintech on the Rise in Kazakhstan Driven by Digital Payments and Super-Apps Adoption
In Kazakhstan, the fintech industry is growing at a fast pace, driven by rapid adoption of digital payments, ecosystem services and super-apps, among other digital financial services, a new report by Fintech Consult, MOST Ventures and RISE says. Moving forward,
Read MoreKorea
Alchemy Pay Raises US$10 Million to Accelerate South Korean Expansion Plans
Singaporean payments provider Alchemy Pay announced that it has secured US$10 million in funding from multi-stage web3 investment firm DWF Labs. Alchemy Pay is now estimated to be valued at U$400 million and will be using the new funds to
Read MoreLaos
Laotian Super-App Gears up for Cambodia Expansion
Laos’ biggest ride-hailing platform and super-app Loca has teamed up with Confluences, a Phnom Penh-based enterprise which specializes in assisting foreign businesses enter the local market, to expand into Cambodia. The move comes just a few months after the company
Read MoreLending
BNPL, Cards and Wallets: The Technology That Connects the Dots
Buy Now, Pay Later (BNPL) wallets were once dubbed a “billion-dollar plan to destroy credit cards.” However, BNPL providers such as Afterpay and Klarna have since begun offering contactless Mastercard and physical Visa cards, respectively. Currently, both Visa and Mastercard
Read MoreMalaysia
FBS Unveils Best Day Trading Strategies for 2023
FBS, a leading global trading platform, shares insights into the appealing strategies for stock day trading in 2023. FBS outlines the criteria for fruitful stock selection and lists favored stocks for day CFD-trading. Day trading, characterized by rapid buying and
Read MoreMobile Payment
Singtel to Offer Zip’s BNPL Service Through Its Dash App
Singtel is set to launch Australian Buy Now, Pay Later (BNPL) player Zip’s service on its Dash app in Singapore. This new service provides an alternate payment option for Dash customers, giving them the flexibility to choose between paying for
Read MoreMobile Payments
What is The Most Popular E-Wallet in Thailand?
In Thailand, usage of e-wallets continues to gain in popularity, driven by infrastructure enhancements, real-time payment efforts and a push from the government to promote a move towards cashless transactions. Usage of cash carried on its decline last year, accounting
Read MoreMyanmar
Telenor Sells 51% Stake in Wave Money for US$ 53 Million
Telenor Group announced that it will be selling its 51% stake in digital payment solutions provider Digital Money Myanmar, also known as Wave Money, for US$ 53 million to Yoma MFS Holdings, a subsidiary of Yoma Strategic. This subsidiary is to
Read MoreNew Zealand
Backbase and FrankieOne to Bolster Digital Onboarding for ANZ Banks, Credit Unions
Digital banking software provider Backbase has partnered with FrankieOne, an Australian home-grown identity verification and fraud prevention platform provider. The partnership will enable Australian and New Zealand (ANZ) banks and credit unions to onboard customers and members seamlessly and securely.
Read MoreNewsletter
Top Fintech Vietnam News from October 2017
Fintech Vietnam Meetup is back with the October 2017 newsletter with all you need to know about Fintech in Vietnam. Last edition, we shared the news of how foreign competitors like Samsung and Alipay are entering the e-payments market. Now with Tencent also seemingly in the fray,
Read MoreOnline Wealth Mgt
Robo Advisors in Singapore: Which One is Right For You?
Robo advisors in Singapore are seeing rapid growth. Robo advisors first emerged in 2008 as a result of the financial crisis. As time passed and digitalisation began to play a more prominent role in society, robo advisors grew in tandem.
Read MoreOpen Banking
How SGFinDex Drives Digital Transformation in Singapore’s Financial Sector
In a progressively digital world, the essence of open banking has found its way to the heart of Singapore’s financial ecosystem with the introduction of the Singapore Financial Data Exchange (SGFinDEx). This innovative data-sharing platform serves as a transformative tool,
Read MorePakistan
Global Payments Firm BPC Appoints New Managing Director for Pakistan
Global payments firm BPC announced the appointment of Furrukh Ali Baig as Managing Director for the South Asian region. Ali Baig has been at the helm of BPC’s business development team for the last six years and has 12 years
Read MorePartner Content
7 Startups Graduate From F10 Singapore’s Second Acceleration Batch
The F10 Singapore Global Summit that was held on 30th November 2021 marked the end of the 3-month programme for its second acceleration batch featuring 7 startups. GreenArc Capital, New Wealth, Doomoolmori, BlueFire AI, Onchain, Senseforth, and InvestaX will continue
Read MorePayments
Global Payments and Visa Launch Mobile Tap Payment Solution in Singapore
Global Payments Inc. and Visa have launched Mobile Tap, a payment solution allowing sellers in Singapore to process payments via smartphones, eliminating the need for extra hardware. The solution uses Visa’s Tap to Phone (TTP) technology and is available to
Read MorePersonal Finance Mgt (PFM)
Hyphen Group Rebrands as MoneyHero, Plans to Go Public With SPAC Bridgetown
Bridgetown Holdings, a SPAC backed by billionaire Peter Thiel, has inked an agreement to merge with Southeast Asian fintech MoneyHero. The transaction is expected to close in the third or fourth quarter of 2023. Coming on the heels of the
Read MorePhilippines
Fintech Back-Office Outsourcing Philippines: Cynergy BPO – How 24/7 Multilingual Support is Revolutionizing the Industry
In an industry that never sleeps, where transactions flow across time zones and borders, fintech companies are realizing the undeniable importance of 24/7 multilingual support. As the financial world becomes more interconnected and diverse, the ability to communicate with customers
Read MorePodcast
10 Fintech Podcasts to Listing to in 2022
Over the past decade, podcasts have evolved exponentially, attracting a growing population of professionals to explore new ideas, gain insights and learn directly from industry experts. In the fintech world, podcasts have exploded in number and it can sometimes be
Read MoreProject Management
Redefining Project Management: AI and Automation at the Helm
Navigating the New Wave: AI’s Role in Project Management Do you recall those days when manually sifting through data was a task? Or when tracking project timelines felt cumbersome? If the nostalgia hits hard, there’s good news. AI and automation
Read MoreProptech
Indonesian Digital Mortgage Firm Ringkas Snags US$3.5 Million Seed Funding
Ringkas, an Indonesian digital mortgage startup, has raised a US$3.5 million seed funding round in a bid to address homeownership challenges in the country, according to a report by e27. Led by East Ventures and Crestone Venture Capital, the round
Read MoreRedefining Finance for Good
Redefining Finance for Good: Indonesia’s Largest Bank Reflects on the Future of Banking
COVID-19 has been an important catalyst for digital transformation across all industries. In banking, the pandemic has accelerated banks’ digitalization push and triggered a sharp rise in digital payments and digital banking usage. In partnership with Finastra, the Fintech News
Read MoreRegtech
A Smarter Way for Corporate Banking Authentication
In the wake of the pandemic that struck in 2020, businesses have been severely affected. A study by the World Bank found that one-quarter of businesses saw their sales fall by 50%. Today, three and a half years later, businesses,
Read MoreRemittance
Top Fintech Startups That Make Currency Exchange And Trading Easy
In the rapidly evolving landscape of finance, technology has played a pivotal role in revolutionizing various aspects of the industry. One of the most significant disruptions has been witnessed in the realm of currency exchange and trading, thanks to the
Read MoreSecurity
Staying Ahead in Asia Pacific’s Fraud Prevention Game
In the midst of a digital revolution sweeping through Asia Pacific, the region finds itself on the cusp of profound change. While this technological wave has brought unprecedented convenience and connectivity, it has also unfurled a shadowy side – a
Read MoreSingapore Fintech Festival 2020
All The Major Singapore Fintech Festival Announcements At a Glance
The Singapore Fintech Festival (SFF) 2020 took place between December 7 to 11 this year, featuring a unique hybrid format that combined a 24-hour online platform with satellites events around the world. The 2020 week-long fintech gathering included more than
Read MoreSingapore Fintech Festival 2021
MAS, Singapore Fintech Association Announces the Winners of SFF Global Fintech Awards
The SFF Global FinTech Awards brings together the Fintech Awards previously presented separately by the Monetary Authority of Singapore (MAS) and the Singapore Fintech Association (SFA) at the Singapore Fintech Festival. The theme for this year’s Awards is “Emerging from
Read MoreSingapore Fintech Festival 2022
Singapore Fintech Festival 2022 Saw Its Largest Turnout With Over 62,000 Participants
The Singapore Fintech Festival (SFF) this year brought together more than 62,000 participants from over 115 countries, emerging as its largest gathering to date since the inaugural edition in 2016. SFF 2022 featured more than 850 speakers from private and
Read MoreSingapore Fintech Festival 2023
Nominations for SFF’s Global Fintech Awards Are Now Open
The Monetary Authority of Singapore (MAS) and the Singapore Fintech Association (SFA) are calling for nominations for the Global Fintech Awards at the Singapore Fintech Festival 2023 (SFF). In its eighth year, the awards, supported by PwC Singapore, seek to
Read MoreSponsored Post
BNPL, Cards and Wallets: The Technology That Connects the Dots
Buy Now, Pay Later (BNPL) wallets were once dubbed a “billion-dollar plan to destroy credit cards.” However, BNPL providers such as Afterpay and Klarna have since begun offering contactless Mastercard and physical Visa cards, respectively. Currently, both Visa and Mastercard
Read MoreSponsored Press Release
Know Your Customer Celebrates Double Client Win With Volopay and Coda Payments
Regtech provider Know Your Customer announced that it has formed two new partnerships in Singapore with Volopay and Coda Payments. Know Your Customer’s innovative compliance platform will streamline client onboarding and periodic review tasks for both clients, delivering a more
Read MoreSri Lanka
Fintech Sees Modest Growth in Sri Lanka as Old Habits Die Hard
In Sri Lanka, fintech holds many promises, and while local banks are investing heavily in digitalization, many challenges still need to be addressed before a real, dynamic fintech ecosystem emerges. When it comes to digital finance, it is safe to
Read MoreStudies
Top 5 Fintech Whitepapers to Keep You Future-Ready
The digital payments market in Asia-Pacific is expected to more than triple to US$67.42 billion by 2028, according to a recent estimate. That’s a healthy growth of 21.1 percent CAGR from US$17.85 billion in 2021, fuelled by customers’ familiarity with doing
Read MoreThailand
Igloo Names John Chen as Country Manager for Thailand
Regional insurtech Igloo has named John Chen as its Country Manager for Thailand with the aim to strengthen its presence in that market. Chen will be responsible for strengthening Igloo’s presence in Thailand by growing the business, establishing strategic partnerships,
Read MoreTop Picks
Is the World Prepared for Central Bank Digital Currencies?
Digital currencies, especially cryptocurrencies, have taken the world by storm with their volatile value and revolutionary underlying blockchain technology. Amidst this rise, a quieter but significant transition is brewing, led by the world’s central banks: Central Bank Digital Currencies (CBDCs).
Read MoreTrade Finance
ABS Rolls Out Trade Finance Registry to Eliminate Duplicate Transactions
The Association of Banks in Singapore (ABS) has launched the Trade Finance Registry (TFR) to ensure there will be no duplication of trade financing transactions, according to a report by The Edge Singapore. Chaired by UOB, the TFR is supported
Read MoreTrading
FBS Unveils Best Day Trading Strategies for 2023
FBS, a leading global trading platform, shares insights into the appealing strategies for stock day trading in 2023. FBS outlines the criteria for fruitful stock selection and lists favored stocks for day CFD-trading. Day trading, characterized by rapid buying and
Read MoreTravel
Going on a Business Trip Overseas? Here’s How to Prepare
Most successful business trips abroad require significant amounts of planning and preparation. With careful thought and adequate research, travelers can pack the essentials needed to ensure their overseas venture is a success. From crafting an efficient itinerary to researching the
Read MoreVarious
MP Tin Pei Ling Appointed at DCS Card Centre After Short Stint at Grab
MP Tin Pei Ling has joined DCS Card Centre as the managing director for strategic partnership and business development. This information, initially shared by Pei Ling on LinkedIn in August, comes as she moves into a role that involves building
Read MoreVietnam
Vietnamese Fintech MFast Raises US$6 Million Series a Led by Wavemaker Partners
Vietnamese fintech MFast announced that it has raised US$6 million in a Series A funding round led by Wavemaker Partners. The round was also joined by two new investors Finnoventure Fund I which is managed by Krungsri Finnovate and Headline
Read MoreVirtual Banking
Fitch: DBS, OCBC, UOB to See Minimal Impact from Digital Banks’ Deposit Cap Raise
Singapore’s digital banks have recently raised their deposit caps, but this move is not expected to significantly impact the profitability of local banks DBS, OCBC and UOB, according to Fitch Ratings. Grab and Singtel’s GXS Bank as well as Sea
Read MoreWealthtech
Grab Shuts Down Investment Business, Users Have Until 13 Oct to Withdraw Funds
Ride-hailing and food delivery superapp Grab announced that it will be shuttering its investment business in Singapore by discontinuing its AutoInvest and Earn+ products. Micro-investment platform AutoInvest is Grab’s first retail wealth management product was formed as a result of
Read MoreWorld news
The Silicon Valley Bank Collapse, Contagion, and Containment
The collapse of Silicon Valley Bank (SVB) has sent shockwaves throughout the global economy. SVB was the parent bank that focused on tech startups, and its failure announced on Friday, 10 March is the biggest since the 2008 financial crisis.
Read More