Author: Fintech News Singapore

Thunes has expanded its cross-border payout network into six more Middle Eastern markets. The company has introduced services in Bahrain, Lebanon, Oman, South Yemen, Syria and the United Arab Emirates. Members of Thunes’ Direct Global Network can now process payouts in local currencies to bank accounts, mobile wallets and cash pickup locations, depending on the market. Businesses can access the services through a direct API integration with Thunes or their existing SWIFT connections. The rollout adds bank account payouts in Bahrain, Oman and the UAE. In Lebanon, Thunes will support mobile wallet payouts. Recipients in South Yemen can receive funds…

DBS has launched the TravelLah! Debit Card with no foreign exchange fees or ATM withdrawal fees overseas. The card uses Visa’s wholesale exchange rates to convert foreign currency transactions into Singapore dollars without an added markup. DBS does not cap the number of fee-free withdrawals, although overseas ATM operators may impose their own charges. The debit card is part of the same youth-focused rollout as the new DBS Chromo credit card, which automatically awards bonus cashback on a cardholder’s top two eligible local spending categories each month. Users Can Set Aside Up to S$5,000 in a Separate Travel Wallet The…

Oracle’s restructuring bill could reach roughly US$2.8 billion after the company added about US$700 million to the plan. In a regulatory filing, Oracle said the estimated cost stood at up to US$2.1 billion as of 31 August 2026. Management expanded the programme after the quarter ended to cover additional measures. Oracle did not disclose what those measures would involve. The plan covers employee severance, contract terminations and other exit costs aimed at improving operational efficiency. It also includes the adoption and integration of artificial intelligence (AI) across certain functions. The company recorded US$167 million in expenses linked to the programme…

The Monetary Authority of Singapore (MAS) is testing AI models that use cross-bank and public-private data to identify suspicious accounts and transactions. The regulator is working with law enforcement and the banking industry on the initiative. “The aim is to detect sooner, intervene faster and reduce losses,” MAS Managing Director Chia Der Jiun said at the Global Fintech Fest in India. The regulator expects to have findings from the project by the end of 2026. MAS Expands AI Access and Oversight Financial institutions in Singapore already use AI for fraud detection, credit underwriting, risk management, regulatory compliance, customer service and…

Real-time payment (RTP) acceptance is growing rapidly, with 43% of merchants currently accepting it and adoption poised to increase in 2026. At the same time, while cost minimization has become merchants’ top strategic priority, data and technology are actually their biggest hurdles and sources of frustrations. Encouragingly, fraud occurrences are still declining, suggesting improvements in prevention. These are among the key findings from a new research by Visa Acceptance Solutions, the Merchant Risk Council (MRC), and Verifi. The report, based on a global survey conducted in Q4 2025 involving more than 1,200 merchant professionals engaged in e-commerce payment and fraud…

By 2030, AI agents will reach significant mainstream adoption, according to a new report by Mastercard. More than one in ten online shoppers will routinely use AI agents to purchase products on their behalf, a trend that’s already being embraced rapidly by younger generations. At the same time, AI agents will transform the payments landscape by automatically optimizing consumers’ wallets and autonomously managing personal finances. However, as agentic AI becomes prevalent, establishing governance and compliance-control frameworks for these agents will become essential. These frameworks will ensure the verification of identity, authority, intent, and accountability, mitigating risks relating to fraud, privacy,…

Grab and GXS Bank are making it easier for drivers in Singapore to charge electric vehicles (EVs) and secure loans to buy them. Drivers can also browse new vehicles through Grab’s newly launched Car Marketplace, with used listings set to follow. Grab has already expanded its EV rental options through GrabRentals and GrabCab. The latest services cover charging, financing and vehicle purchases. Drivers Can Find and Pay for Charging in One App Grab will test an EV Charging Network within its driver app in September. The service will let drivers find nearby charging stations, check real-time availability and pay without…

Disappointing AI returns could turn the current capital spending boom “into a bust,” BIS chief Pablo Hernández de Cos warned. Speaking at the Global Fintech Fest 2026 in Mumbai, the General Manager of the Bank for International Settlements (BIS) highlighted rising debt and opaque financing arrangements as potential risks to financial stability. The five largest technology companies are expected to spend more than US$1 trillion on AI across 2025 and 2026. Industry participants expect global AI investment to rise from about US$500 billion today to between US$3 trillion and US$4 trillion by 2030. More AI Spending Is Funded by Private…

Globally, artificial intelligence (AI) is being adopted at a rapid pace for shopping discovery. But as the technology moves from exploration to execution through AI agents, adoption is becoming more selective, hindered by trust and control concerns, according to a new survey by Alipay+ and S&P Global. The study, which polled 6,000 consumers across nine markets in Asia, Europe and the US, reveals that AI adoption is strong for travel discovery. In the space, 81.3% of the surveyed consumers are already utilizing AI-powered tools to explore destinations and experiences. Additionally, 73.2% expressed openness to using AI for hotel or flight…

The Bank of Thailand and financial firms are stepping up efforts to prevent the financial system from being used for illegal activities. The initiative will strengthen how institutions identify suspicious transactions and respond to emerging threats. It covers governance, information sharing, customer checks and technology-based monitoring. Financial service providers will be expected to introduce safeguards suited to their business models and update them as risks evolve. They will also share information on fraud methods and warning signs to help close gaps across the industry. BOT plans to tighten customer and counterparty checks, with closer scrutiny of high-risk cash transactions. Eleven…

OCBC and DBS were the only Singapore banks to make Forbes’ inaugural ranking of the world’s top-performing banks in 2026. OCBC ranked first in Tier 1, followed by DBS in second place. The category covers banks with more than US$500 billion in assets. Forbes and market research firm Statista compiled the ranking using financial data, desk research and information submitted by banks. Unlike Forbes’ existing rankings based mainly on customer surveys, the new list focuses on financial performance. Banks were assessed on profitability, growth and earnings quality, capital and funding resilience, and asset quality and efficiency. The analysis covered indicators…

Alipay, GCash and TNG eWallet are among 10 digital wallets joining the first phase of Ant International’s Agentic Mobile Protocol (AMP) rollout. The technology enables artificial intelligence agents to make authorised payments through wallets, super apps and smart devices. AlipayHK, DANA, KakaoPay, MPay, TrueMoney, Toss and Singapore-based Starryblu are also participating. Together, the 10 wallets serve around 1.5 billion user accounts and will support AMP within their agent security systems. Adyen, Allinpay, Checkout.com, Fiserv, Global Payments, Nuvei and Worldline have joined as acquiring partners. “AMP has been created to enable agents to enter existing mobile payment systems as trusted actors.…

Shopee has launched ShopeeVIP+ as per Shopee Indonesia’s Executive Director, Handhika Jahja’s post on his LinkedIn. The programme rolled out on September 8 across Indonesia, Thailand and the Philippines. The news builds on ShopeeVIP, the loyalty programme Shopee introduced across the region last year. Subscribers get a Netflix Mobile Plan bundled into their ShopeeVIP+ subscription. They can also upgrade to Netflix’s Basic, Standard or Premium tiers for wider access. This includes higher video quality and simultaneous streaming across more devices. The subscription also includes unlimited free instant delivery and daily discount vouchers, according to Investing.com. Pricing and perks vary by…

OpenAI has launched a finance-focused version of ChatGPT with built-in data for research, modelling and client materials. ChatGPT for Financial Services combines GPT-6 Astra with datasets from Daloopa, PitchBook, LSEG News and Crunchbase. These include earnings transcripts, financial statements, company fundamentals and private company data. OpenAI developed the product with input from Morgan Stanley and Evercore. The initial focus is investment banking and equity research. Reliable data access and the creation of financial materials emerged as key challenges for their teams. Feedback from the two firms will also inform future product improvements and expansion into other parts of financial services.…

Singapore banks DBS, OCBC and UOB have conducted live SGD interbank transactions together using tokenised deposits for the first time. The domestic Singapore dollar transactions were completed through Swift’s blockchain-based ledger, which coordinated payment messages across the banks’ separate tokenised deposit systems. The resulting obligations were recorded on each bank’s tokenised deposit infrastructure before being matched and netted for final settlement through existing systems. Tokenised deposits are digital representations of regular deposits issued by regulated banks. The technology could eventually support services across corporate treasury, trade and digital commerce. Rachel Chew, Chief Operating Officer and Co-Head of Digital Assets, Global…

Grab is reportedly considering a controlling stake in Atome Financial that could value the BNPL fintech at more than US$2 billion. Bloomberg reported that negotiations are ongoing and may not produce a deal, citing unnamed sources familiar with the discussions. Grab was previously reported to be joining an Atome funding round that could raise more than US$100 million. Atome provides instalment payment services for purchases made online and at physical stores. Its services cover sectors including fashion, beauty, travel, fitness and homeware. The Singapore-based company recorded US$470 million in revenue for 2025, an increase of 80% from the previous year.…

Singapore will not extend its Shared Responsibility Framework to investment scams where victims authorise the transfers themselves. Chee Hong Tat, Deputy Chairman of the Monetary Authority of Singapore (MAS), told Parliament that the framework was designed for phishing scams involving unauthorised transactions. He said the same approach was unsuitable for self-effected transfers. Investment scams recorded the highest losses among all scam types in the first half of 2026. However, overall scam cases and losses declined in 2025 and the first half of this year. Singapore will instead focus on making it harder for scammers to reach potential victims and giving…

Mastercard is giving merchants a simpler way to connect their products and payments with AI shopping agents. Its new Agent Connect service will link merchants, AI agents, digital platforms and payment providers through a single integration. Businesses can choose which AI services can access their products while retaining control over pricing, fulfilment and customer relationships. Mastercard is also expanding Agent Suite for Merchants. The service helps businesses add AI shopping tools to their websites and apps, share product information with participating platforms and connect with third-party agents. Merchants can make product details, prices and availability accessible to AI agents. The…

Smartphones now hold vast amounts of sensitive personal and financial data, including passwords private communications, and work-related data, making them prime targets for cybercriminals. This has led mobile banking Trojans and other malicious mobile software to proliferate and spread rapidly over the past years, as attackers shift their focus to mobile devices for greater profits. In Q1 2026, global cybersecurity and anti-virus company Kaspersky said it detected an alarming 162,275 new mobile banking Trojan installation packages. The figure is more than twice the number recorded across the whole of 2024, and roughly two-thirds of the 2025 annual total in a…

Live-stream sellers could face verification checks if their platforms are linked to e-commerce scams in Singapore. Authorities may act against services accessible in the country that are used or likely to be used to facilitate such scams. This could include designating providers under the Online Criminal Harms Act 2023 and applying the Code of Practice for E-Commerce Services. High-risk sellers and advertisers could then be required to undergo checks against official government records. Home Affairs Minister K Shanmugam outlined the possible measures in response to MP Shawn Loh, who asked whether locally registered businesses selling through live streams would need…