Author: Fintech News Singapore

Backbase has launched Conversational Banking to let customers complete banking tasks through voice or text using AI agents. The service allows customers to block and replace lost cards, check payments or follow up on service requests through connected banking systems. AI agents use customer information to carry out permitted tasks. Requests requiring further investigation or human judgement are passed to employees, along with relevant details and a record of work already completed. Banks control what information and tools the agents can access, which actions they can perform and when human approval is required. Jouk Pleiter, Founder and CEO of Backbase,…

Standard Chartered’s Variable Capital Company (VCC) platform surpassed US$2.6 billion in assets under management (AUM) as of June 2026, ahead of the bank’s tenth sub-fund launch. The new Signature Select Premium Cash Reserve Fund is managed by Insight Investment, a fixed income specialist within BNY Investments, which serves as the fund’s sub-investment manager. The fund is designed for investors seeking to preserve capital while earning returns above cash holdings. It seeks to outperform the Secured Overnight Financing Rate (SOFR) by investing in a diversified portfolio of high-quality short-term fixed income and money market securities. The fund offers daily liquidity and…

Singapore says ScamShield is not designed to help investors vet the people behind investment schemes. The anti-scam tool allows consumers to check, block and report suspected scam-related messages, websites and phone numbers. The clarification came in a parliamentary response on 7 October 2026. Monetary Authority of Singapore (MAS) board member Alvin Tan explained that information on directorships and other business interests is available for a fee through the Accounting and Corporate Regulatory Authority’s (ACRA) Bizfile platform. Bankruptcy records can also be accessed for a fee through the Ministry of Law’s Insolvency Office website. The government advised consumers to exercise caution…

Standard Chartered will rename its Global Business Services hubs to reflect their broader role in improving processes and expanding the use of technology. The bank announced that the hubs will become Global Capability Centres. It will roll out the name change in phases across relevant markets, subject to local requirements and approvals. The hubs have supported the bank for more than two decades. Standard Chartered is also investing in data, digital platforms and artificial intelligence to improve client experiences and productivity while maintaining operational resilience. Alongside these investments, it is supporting employees’ long-term employability through skills development, learning opportunities and…

Yuno merchants can now accept stablecoin payments through a new integration with Coinbase. The one-click stablecoin checkout is live globally. Merchants can enable it through their existing Yuno integration without replacing their payment systems. The service offers an alternative to cards for cross-border purchases, including in markets where card access is limited. Merchants can receive funds as soon as the same day. Yuno connects enterprise merchants, banks and wallets to more than 1,000 payment methods through a single application programming interface, with 460 integrations across more than 190 countries. It is Coinbase’s first global commerce orchestration partner. Featured…

Hong Kong’s stablecoin payment platform RedotPay has tapped Nium’s global payment network to help users convert stablecoins into traditional currencies. Nium announced the partnership at TOKEN2049 in Singapore. Its network spans 100 currencies and 190 countries. RedotPay will use it to expand its stablecoin off-ramp coverage into new markets. RedotPay has more than nine million users globally. Nium reported that its cross-border payments network moved more than US$84 billion over the past year. “Stablecoins are becoming a daily payment method, not just a trading asset. RedotPay’s users move between digital and traditional money constantly. Our battle-tested infrastructure is built for…

Manulife has promoted Andy Bruce to Chief Information Officer for Asia, effective 1 October 2026. The appointment comes as the insurer looks to strengthen its digital capabilities and expand the use of AI across its regional operations. Bruce previously served as Chief Information Officer for Hong Kong and Macau, where he oversaw one of the market’s largest technology delivery portfolios. During his tenure, he strengthened operational stability and risk management while advancing key modernisation and AI initiatives. “Andy is a proven technology leader with a strong track record of execution, innovation and talent development,” said Steve Finch, President and CEO…

Standard Chartered plans to introduce custody services for selected cryptoassets, stablecoins and tokenised real-world assets, subject to applicable regulatory requirements. Aimed at institutional clients and accredited investor corporate clients, the proposed service will integrate digital asset custody with the bank’s traditional asset servicing capabilities. Standard Chartered already has digital asset custody operations in the UAE, Luxembourg and Hong Kong. It has also backed institutional digital asset custodian Zodia Custody. In Singapore, the planned service will complement the bank’s Financing & Securities Services business. It will bring together traditional asset servicing, tokenisation and digital asset custody. This will allow Standard Chartered…

AIMCONNECT 2026, an executive forum on AI in automotive finance, has announced its agenda ahead of the event on 11 October. The inaugural event is organised by X Star Technology and presented together with AI Motion, which provides AI tools for the automotive sector. As AI becomes increasingly embedded across the automotive sector, the conversation is moving beyond what the technology can do to how it could change the relationships between consumers, businesses, capital, and technology. Rather than examining these developments in isolation, conversations will explore where their implications intersect. The event will feature keynote sessions, three panel discussions, fireside…

Revolut plans to invest nearly S$350 million in Singapore over the next five years to support product development, business expansion and workforce growth. The UK-based fintech has signed a five-year lease for approximately 8,880 square feet of office space at Collyer Quay Centre, with the new office expected to open in early 2027. Revolut also plans to expand its Singapore workforce to more than 300 employees over the next three years. Its local headcount increased by more than 95% year-on-year in 2025, and the company is recruiting across engineering, product, data and artificial intelligence. The investment follows Revolut’s second consecutive…

OCBC has partnered with Ant International to launch a tokenised deposit solution for corporate treasury management and liquidity transfers between Singapore and Malaysia. The service allows the fintech company to move Singapore and US dollar liquidity across borders outside traditional banking hours. Tokenised deposits function as digital representations of commercial bank deposits on a distributed ledger. Using blockchain technology, these transfers create an immutable audit trail that reduces manual reconciliation and improves operational efficiency for corporate treasurers. The solution is powered by Ant International’s WhaleRTP platform, which connects blockchain assets from various financial institutions. This setup allows the company to…

The Monetary Authority of Singapore (MAS) has issued its finalised Guidelines on AI Risk Management for financial institutions. Following a public consultation in November 2025, the framework sets out expectations for firms to manage risks across the AI lifecycle and address risks associated with third-party providers. Under the guidelines, institutions can tailor their approach based on the scale and risk profile of their AI use. Firms may also use existing governance structures to oversee these risks and do not need to establish dedicated AI committees. MAS expects financial institutions to maintain inventories of their AI use and apply controls covering…

Opera’s MiniPay users can now reuse their identity verification across the wallet’s regulated partner network through Sumsub’s new gateway. The stablecoin wallet is the first integrator to go live with Sumsub’s Reusable KYC Gateway, launched on 7 October. MiniPay operates in more than 70 countries and has recorded over 20 million wallet openings. As a self-custodial wallet, it does not need to verify users itself. Its partners, including fiat on and off ramps, card issuers and payment providers, have traditionally conducted separate know your customer (KYC) checks. Users therefore had to repeat the verification process for each new provider. Those…

India’s fintech industry is undergoing a profound transformation driven by several major forces. A new report by PwC looks at these trends, outlining structural shifts expected to shape the Indian fintech through 2030, including the advent of programmable digital infrastructure, the rise of proprietary intelligence, and the shift towards orchestration. Programmable digital infrastructure India’s public infrastructure is moving from static rails that move money and verify identity to programmable rails that carry conditions, purposes, and logic. This infrastructure enables payments to settle under specific terms, such as the recipient being an authorized fair-price shop, eligible commodities, or within a defined…

Singapore’s Parliament has passed a bill allowing the Monetary Authority of Singapore (MAS) to require banks deemed systemically important to hold additional resources that can absorb losses. The Financial Services and Markets (Amendment) Bill passed on 6 October 2026. In its second reading speech, MAS outlined plans to apply the Total Loss Absorbing Capacity (TLAC) framework to Singapore’s Domestic Systemically Important Banks (D-SIBs). Banks Will Need More Resources to Absorb Losses The framework will require D-SIBs to hold additional eligible loss-absorbing instruments and other financial resources to support their resolution if they become distressed. MAS already has powers to bail…

OKX has completed a strategic investment from Circle, Qube Research & Technologies (QRT), Ripple and SC Ventures by Standard Chartered at a US$25 billion pre-money valuation. The announcement did not disclose the investment amount. The funding extends the round led by Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, which OKX announced in March. The investment builds on existing partnerships supporting OKX’s stablecoin, liquidity, collateral and custody infrastructure. Circle issues USDC, which is integrated across OKX’s platform. QRT provides liquidity and risk capacity as an institutional counterparty and works with OKX to launch and grow products…

Tribe Payments has named Alex Lim as Head of Sales and Solutions for APAC as the payments processor continues to expand its presence in the region. Lim joins from Pure Commerce, a Euronet Worldwide company, where he served as General Manager of Merchant Services for APAC. He will report to Matt Weir, Tribe Payments’ General Manager for APAC, and focus on business development, strategic partnerships and solution design across the region. Lim brings 13 years of experience in payments, spanning sales, partnerships and product development. At Pure Commerce, he led business development and solution design across APAC. His appointment comes…

Anchorage Digital Singapore now offers USD accounts and SWIFT transfers to eligible institutional clients through a partnership with Standard Chartered. The expansion extends capabilities already available through Anchorage Digital Bank in the United States. Clients can send and receive international USD wires, including payments to and from third parties, through the same platform they use for digital asset custody, trading and settlement. Those onboarded through Anchorage Digital Singapore can also move USD around the clock with counterparties that bank with Standard Chartered Singapore, including on weekends and holidays. Anchorage Digital’s Atlas settlement network also supports 24/7 fund transfers within its…

Independent Reserve has expanded its services in Singapore to allow businesses to make cross-border payments using fiat currencies or stablecoins. Integrated into the digital asset platform’s existing infrastructure, the service allows companies to pay overseas suppliers, process international payroll and transfer funds between corporate entities. Businesses can fund their Independent Reserve accounts in Singapore dollars or US dollars before sending payments in local currencies. The service supports more than 20 currencies, including most G10 currencies and several ASEAN currencies. Funds can be sent in real time to bank accounts, e-wallets or cards. Companies can also accept customer payments in stablecoins…

Pine Labs has launched a unified platform for merchants in Singapore, combining payment acceptance, acquiring, instalment payments and customer engagement capabilities. Businesses can use the platform to accept cards and alternative payment methods through a single technology layer. Pine Labs also works with bank and brand partners to offer instalment payment plans at the point of sale, giving consumers greater flexibility for higher-value purchases. The offering also incorporates Fave, Pine Labs’ consumer payments and engagement app. Merchants can use Fave to run cashback programmes and merchant-funded offers aimed at attracting customers and encouraging repeat purchases. “Singapore’s merchants are increasingly looking…