Author: Company Announcement

Ambi Labs, the makers of a smart AI-enabled air-conditioner (AC) control, Ambi Climate, announces its newest feature: Multi-User Geolocation. Basically, the Multi-user Geolocation feature eliminates hassle and worries. Homeowners with Ambi Climate devices can now come home and automatically have the perfect AC settings. They can also go out without worrying about whether they or the next person who leaves the house will turn off the AC or not. Ambi Climate’s geolocation features allow automatic switching on and off one’s AC based on the location of the owner’s phone relative to the location of the device. With the correct set…

The total transaction volume of InsurTech M&As in Asia hit US$460 million in 2017, more than three times that of 2016, as industry incumbents and new entrants to the market pushed towards greater digitalisation, according to the fourth Quarterly InsurTech Briefing from Willis Towers Watson. The new research, produced by Willis Towers Watson Securities and Willis Re, in collaboration with CB Insights, highlights the key InsurTech trends of 2017. It shows that InsurTech transactions continued to focus on capabilities related to digital distribution, consumer models and data analytics, while claims management and other back-end processing applications also became top business priorities, as…

Global investment in fintech ventures reached another all-time high in 2017, buoyed by a surge in funding for startups in the United States, United Kingdom and India, according to Accenture analysis of data from CB Insights, a global venture-finance data and analytics firm. Fintech financing rose 18 percent in 2017, to US$27.4 billion, with the value of deals in the U.S. jumping 31 percent, to $11.3 billion. Deal values almost quadrupled in the U.K., to US$3.4 billion, and soared nearly fivefold in India, to US$2.4 billion. The number of fintech deals also rose sharply, from just over 1,800 in 2016 to nearly…

Singapore-based FinTech start-up, Minterest announces the appointment of Mr. Lim Cheng Teck as Chairman of the Board of Directors at Minterest. Mr. Lim retired as ASEAN Vice Chairman of Standard Chartered Bank in May 2017. He was with the bank for over 28 years and had held many senior roles, including Regional Chief Executive of ASEAN, Chief Executive of Singapore, Executive Vice Chairman and Chief Executive of Standard Chartered Bank (China) Limited. Mr Lim had also served on several of the bank’s subsidiary boards. He is recognised for his leadership in driving the growth of Standard Chartered Bank’s China franchise and the transformation of…

Innovation in and around blockchain is currently concentrated in the U.S. and Europe but the application of this new technology is quickly spreading over the Asia Pacific region. Download this Cognizant report today to see how Asia is poised to become a hotbed for blockchain innovation and why financial service organizations in the region see it as a game-changing technology: https://goo.gl/rnMTy8 Findings within the report highlight that: – 88% said they view blockchain as important or critical to the future of their industry – 75% have adopted a prototype approach to blockchain and are piloting initiatives – 66% have commitments…

Investors should not only focus on the potential returns that investments offer, but on their (priced in) expectations and risks, said VP Bank Group’s Head of Investment Research, Mr Bernd Hartmann. VP Bank announced its 2018 Investment Outlook , addressing prospective themes and market trends for Asian investors. The Liechtenstein-based boutique private bank predicted a challenging financial market environment that will require both investors and central banks to perform a delicate ‘balancing act’ this year. Hartmann, who is also the bank’s Chief Strategist, forecasted that the financial market is set to remain upbeat for the first half of 2018, and…

Rakuten, a global innovation leader headquartered in Tokyo, and Techstars, a worldwide network aimed at helping entrepreneurs succeed, announced today the launch of Rakuten Accelerator powered by Techstars. The three-month mentorship-driven Rakuten Accelerator is aimed at providing innovative startup companies from around the world the chance to shape the future of “Messaging as a Platform” for new technologies. It includes initial funding and three months of immersed mentorship. The inaugural class of approximately 10 startups of this accelerator program will focus on disrupting and revolutionizing how businesses and consumers use messaging to conduct business and stay connected. Areas considered for…

Maybank and ABSS targets to get 50,000 SMEs to adopt Cloud Based Accounting Software Maybank Singapore today announced a partnership with Asian Business Software Solutions (ABSS) to empower start-ups and micro SMEs in Singapore with Financio, a new and affordable cloud-based accounting solution that will boost productivity, drive collaboration and help businesses stay on top of their finances. According to SPRING Singapore, 80% of SMEs are micro-businesses, which typically do not have access or the means to digital tools. In fact, only 64% 1 of SMEs have made some form of technological change or adaptation in their business models.…

Wave Money is the first fintech company in Myanmar to launch an open Application Programming Interface (API) platform with the introduction of the Wave Money Developer Portal which will enable cashless payments between merchants and customers. This is the latest innovation from the fastest growing and leading digital financial services company in the country. APIs enable different pieces of software to interact with each other. The Wave Money Developer Portal will make it possible for merchants to connect their e-commerce businesses to the Wave Money platform to easily enable cashless payments for goods and services from their customers. The launch…

Playbasis, a leading customer engagement and gamified rewards company, announced today that they have crossed 10 million registered players on the platform. Of these 10 million registered players, 5 million players are active monthly, and these active players collectively generate 10 million transaction events per month. Playbasis partners with banks and telecom operators by providing them an enterprise cloud platform, enabling them to embed social game mechanics, freemium economics, and augmented reality experiences into their digital wallets and mobile finance applications, resulting in significantly increased user engagement, loyalty, and monetization. Customers of this platform include DBS Bank, HSBC, and Digi…

AsiaCollect, a South East Asia professional Credit Management Services closed a Pre-Series A equity funding round. The round was underwritten by Dymon Asia Ventures, the venture capital arm of Dymon Asia Capital, a Singapore-based alternative investment management firm with c. $5.2 billion of assets under management (including committed capital and notional assets) as of 31 July 2017. Forum Capital, a Singapore-based venture builder, and the company’s management had previously provided seed funding. This round brings AsiaCollect’s total financing to-date to over $2 million. AsiaCollect is the first player to bring international standards of technological advancement and ethics to the non-performing consumer loan market in Southeast…

Protecting your loved ones should not be complicated. With this in mind, independent life insurer Singapore Life launches its suite of life insurance products, coupled with a fuss-free, customer-centric insurance experience. Singapore Life’s Term Life and Critical Illness plans aim to fill the gap in catering to customers who are looking for adequate protection with minimal complexity. This introduction of plain vanilla term insurance is a deliberate departure from the many new products in the market compounded with various interesting, but equally complicated features. Customers can now be assured of their coverage and own these policies on their preferred terms…

Santiment the world’s first crypto-market data feed platform, announces  that it has worked with 15 other projects to launch Project Transparency. The voluntary initiative aims to encourage disclosure of wallets controlled by a project and provide a voluntary explanation of any expenditure greater than 0.5% of the funds collected. Santiment joins a number of ethical, industry leading digital asset industry players including Aragon, Cofound.it, District0x, Encrypgen, Etherisc, Hcash, Iconomi, Indorse, Lykke, Santiment, Dappbase, GATCOIN, Iconiq Lab, Virgil Capital, Musiconomi and Maecenas to present the long term ambition is to provide potential investors and the community with greater transparency and accountability for…

Establishing interoperable electronic payments and developing a common QR code for Singapore were two key topics that the Payments Council discussed at its inaugural meeting on 11 August 2017. Establishing interoperable electronic payments The Council noted electronic payments as a strategic enabler to enhance business operations and provide greater convenience for citizens, as part of Singapore’s Smart Nation agenda. Council members noted that usage of e-payments was growing in Singapore and there was a variety of e-payment solutions available in Singapore that provided consumers choice. However, interoperability among these solutions were lacking. Interoperable solutions should allow for Singaporeans to make…