Author: Annette Rowena

Author

Annette is a Senior Writer for Fintech News Singapore.

The digital banking landscape in Singapore has undergone a rapid transformation, with four players gaining approval from the Monetary Authority of Singapore (MAS). These digital banks are revolutionising how financial services are delivered to consumers and businesses alike, leveraging technology for convenience, innovation, and accessibility. In this article, we’ll explore the offerings of these players, highlighting their key features and what makes them unique. Last Updated: 11 February 2025 What Are Digital Banks? Digital banks are financial institutions that operate exclusively through digital platforms such as mobile apps and websites. They do not have traditional physical branches, which allows them…

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The financial services industry has consistently led the way in embracing technological advancements, with Generative AI (GenAI) emerging as a transformative force in recent years. GenAI has contributed significantly to analysing vast datasets and enhancing customer interactions through chatbots and personalised services. However, the emergence of Agentic AI marks a significant evolution in this landscape. Unlike GenAI, which operates within predefined parameters, Agentic AI systems possess the capability to make independent decisions, learn from real-time data, and autonomously execute complex tasks without continuous human oversight. If applied successfully, Agentic AI could revolutionise financial services by introducing higher levels of autonomy,…

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Payment trends in Asia are changing how businesses and people transact — from the digital-first economies of China and Singapore to the quickly changing markets of Indonesia and Vietnam. This shift is not merely a matter of convenience; it is emblematic of an increasingly complex convergence between state-of-the-art technology, consumer desires for seamlessness, and the region’s particular socio-economic landscape. Emerging trends such as cross-border payment systems and open banking initiatives are breaking down traditional barriers, fostering greater connectivity and efficiency in Asia’s financial landscape. However, the rapid progress comes with challenges. The shift toward digitised payments brings heightened concerns about cybersecurity,…

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Thinking about diving into the world of cryptocurrency in Singapore? You’re in the right place. Singapore embraces digital currencies, combining cutting-edge innovation with solid regulations to ensure a safe trading environment. The Monetary Authority of Singapore (MAS) keeps the market secure through rules that protect investors while encouraging growth. In this guide, we’ll walk you through everything you need to know on how to buy cryptocurrency in Singapore. Whether you’re a beginner or a seasoned trader, you’ll find practical tips and insights to confidently navigate the vibrant crypto market. What is Cryptocurrency? Cryptocurrency is a digital currency form that uses…

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The e-wallets in APAC adoption are surging, transforming how millions manage their financial transactions. According to The State of Digital Retail Payments in Asia Pacific 2024 by Forrester, high-growth economies like Indonesia and Malaysia are leading the shift, with consumers increasingly favouring digital payments. This cashless revolution is reshaping the region’s financial landscape, with each country offering a unique approach. From China’s cutting-edge urban ecosystems to Malaysia’s substantial funding for e-wallet development, digital wallets have since seamlessly integrated into daily life, becoming an essential part of how people transact. Singapore’s Fluid Digital Payment Landscape Singapore’s digital wallet scene presents an…

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In 2024, Indonesia’s fintech scene reached new heights, with one of the top highlights being. This milestone marked a pivotal moment for the country’s financial inclusion efforts. From regulatory shifts to technological breakthroughs, here’s our pick of the top Indonesia fintech stories 2024 that shaped Indonesia’s fintech landscape. Investree CEO Adrian A Gunadi Resigned Amid Misconduct Allegations and Company Challenges Investree’s co-founder and CEO, Adrian A Gunadi resigned on 31 January 2024 amid allegations of misconduct and ongoing company challenges. In his resignation letter, Gunadi stated his decision was final and that he had no further claims against the company.…

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Singapore’s Shared Responsibility Framework (SRF) for phishing scams started today, officially implemented by the Monetary Authority of Singapore (MAS) and Infocomm Media Development Authority of Singapore (IMDA). The framework, published for consultation on 25 October 2023, takes effect from today. Scam cases that arise after the SRF becomes operational and fall within its defined scope will be eligible for consideration. SRF will now assign relevant duties to financial institutions (FIs) and telecommunication companies (telcos) to mitigate phishing scams and set expectations of payouts to affected scam victims where these duties are breached. The SRF will be an integral component of…

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Since Singapore launched its first digital bank in 2022, five digital banks—GXS Bank, MariBank, ANEXT Bank, Green Link Digital Bank, and Trust Bank—have entered the market, challenging traditional banking models and reintroducing fintech innovation to Singapore’s financial landscape. These Singapore digital banks are reshaping the sector by targeting underserved segments, driving innovation, and intensifying competition. But what does these Singapore digital banks’ performance reveal, and what lies ahead for this evolving landscape? Singapore Digital Banks Shaping a New Era Each digital bank is carving a distinct niche, catering to specific market needs. GXS Bank, a partnership between Grab and Singtel,…

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Imagine a world where your wallet is obsolete, your smartphone is passé, and your very presence is all you need to make a purchase. Welcome to the future of transactions, where science fiction meets your daily coffee run.  Dive in to discover five payment methods that you could be using in the not-so-distant future. 1. Paying with a Smile You walk into a store, grab what you need, and walk out without taking out your wallet or phone. Face-to-pay payment methods use facial recognition to authorise payments. The system scans your face to complete transactions in seconds as it’s linked to your bank…

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