Singapore’s annual Fintech Festival is coming back on November 13, 2017 for a week long event dedicated to financial innovation and digital finance. Organized by the Monetary Authority of Singapore in partnership with the Association of Banks in Singapore and SingEx, the event is set to cover all aspects of fintech and feature some of the world’s leading tech entrepreneurs, senior executives from top financial institutions, policymakers and government agencies. This year again as part of the Fintech Festival, the Global Fintech Hackcelerator is looking for the most innovative startups from across the globe to address problem statements contributed by…

Banking and investment services CIOs are increasingly convinced that their old business models and existing value propositions will not be sustainable in the future, according to a survey from Gartner, Inc. Gartner’s 2018 CIO Agenda Survey gathered data from 3,160 CIO respondents in 98 countries and across major industries, including 354 banking and investment services CIOs. “Digital transformation and its related technologies such as APIs are more important for banking than for other industries,” said Pete Redshaw, Managing Vice President at Gartner. “Banks and other banking and investment services organizations clearly recognize that the status quo is not sustainable, and they must disrupt themselves before…

The Monetary Authority of Singapore (MAS) released the industry transformation map (ITM) for financial services, which outlined growth strategies by business lines, programmes for upgrading skills, and an agenda for continuous innovation and technology adoption. 2   Speaking at the launch of the ITM, Mr Ong Ye Kung, Minister for Education (Higher Education and Skills) and MAS Board Member, described MAS’ vision for Singapore to be a leading global financial centre in Asia – one that connects global markets, supports Asia’s development, and serves Singapore’s economy. The ITM was drawn up by MAS in close consultation with the financial industry and…

Singapore-based FinTech start-up soCash announced today that it has received a Series A investment. They get this form Vertex Ventures, the global venture capital group whose other notable investments include ride-hailing unicorn Grab, luxury fashion e- Commerce platform Reebonz and Southeast Asia’s largest online and mobile parenting website, theAsianparent. The investment will be used to scale the start-up’s operations and to expand its team. “We are honoured to have Vertex Ventures onboard with us as part of the soCash team,” says Hari Sivan, CEO & Founder of soCash. “Vertex’s extensive network and proven expertise in working with its portfolio companies…

Vietnamese fintech startup Finhay is targeting the country’s millennials with a new robo-advisor service that lets customers invest in top mutual funds in Vietnam starting with as little as 50,000 VND (US$2.6). Finhay provides a platform connecting mutual funds with millennials. It provides customers with access to micro-investment opportunities and offers mutual funds with the ability to tap into the growing demographic. For users, Finhay provides different portfolio strategies designed to suit all profiles of investors as well as their goals. They can consult their portfolio performances anytime and anywhere on their smartphone through the web portal. The company said…

Singapore is the undeniable fintech leader in Southeast Asia, supported by the government and fueled by favorable regulations, a strong startup culture and ecosystem, as well as the large pool of investors keen to support the burgeoning fintech startup scene. With the much-anticipated annual Singapore Fintech Festival coming along in just a few weeks, we look today at some of the must-attend events and conferences taking place in Singapore in the coming months. Singapore Fintech Festival November 13-17, 2017 This year’s Singapore Fintech Festival will feature exciting discussions, stimulating demos and insightful debates over the period of November 13-17,…

Fintechnews.PH picks every Friday for you the top 5 Fintech Philippines News of the week: Here we go: Brief: Ant Financial And Globe Roll Out Cashless Payments In The Philippines China’s Ant Financial and the Philippines’ Globe Telecom have rolled out a new cashless payments option that allows consumers in the island nation to buy goods and services by scanning QR codes with their mobile phones. (Read more) BSP Not Keen On Issuing Own Cryptocurrency CENTRAL BANKS around the world are discussing the possibility of issuing its own cryptocurrencies, but Bangko Sentral ng Pilipinas (BSP) Governor Nestor A.…

Mastercard announced that it will be opening up access to its blockchain technology via its API published on Mastercard Developers. Mastercard’s blockchain solution provides a new way for consumers, businesses and banks to transact and is key to the company’s strategy to provide payment solutions that meet every need of financial institutions and their end-customers. The Mastercard blockchain API was part of the Money 20/20 hackathon in Las Vegas last week. The company has tested and validated its blockchain and will initially implement the technology in the business-to-business (B2B) space to address challenges of speed, transparency and costs in cross-border payments. The Mastercard blockchain technology…

Did you know that next to PolicyPal there is one more Fintech Startup in the MAS Singapore Fintech Sandbox? A secretive fintech startup is currently experimenting with a wealthtech product in the Monetary Authority of Singapore (MAS) Fintech Regulatory Sandbox. The startup, called Kristal Advisors, provides an artificial intelligence (AI) enabled digital asset management platform that gives investors access to curated portfolios from the world’s top portfolio managers. The portfolios are based on the in-depth financial knowledge and investment experience of experienced traders across the world. “At Kristal.ai, we leverage on … machine learning techniques to build our investment robo-advisor,”…

Every week, we bring you the latest, and most important, IoT News from Asia and around the world. This week, Fintech fans descended on Hong Kong for Fintech Week. Artificial Intelligence was a big theme on days 4 and 5 – there were discussions around AI being all hype, regulation of the technologies and how machines might be better than people for a lot of financial applications. The big question was, will China become the world leader in AI by 2030? Let us know what you think! Here’s what else has been happening… In general: AI and Internet of Things will…

A new fintech course by the Centre for Finance, Technology and Entrepreneurship (CFTE) is bringing together industry experts to share unique insights into the sector and tackle some of the hottest trends and topics. Called Around Fintech In 8 Hours, the online structured course consists of 16 modules ranging from “Why is finance being transformed today” to an overview of technologies such as blockchain, mobile technology and cloud computing. It features experts and senior leaders from the largest institutions such as HSBC, Citi, Ping An, as well as startup CEOs and renowned academics. Fintechnews readers will get an exclusive 20%…

Grab , which calles themself now “the leading on-demand transportation and mobile payments platform in Southeast Asia”, today announced that it has secured debt facilities of up to US$700 million, the largest ever debt financing raised by a Southeast Asian start-up. Also  Grab announced that it has signed an exclusive partnership with SMRT, Singapore’s premier multi-modal land transport provider, to build the largest and most advanced fleet in Singapore. With these bold steps, Grab will have the largest car rental fleet in Southeast Asia by Q4 2018. The US$700 million debt facilities, secured from leading global and regional banks, will be…

Fintechnews.PH picks every Friday for you the top 5 Fintech Philippines News of the week: Here we go: Bitcoin Use Grows In Philippines, Regulators Flex Muscle The Bangko Sentral ng Pilipinas has released guidelines on cryptocurrencies including bitcoin, as transactions involving digital coins grew, an official said. (Read more) Czech Fintech Firm To Invest P18.6 Billion PRAGUE, Czech Republic-based Home Credit, a leading financial-technology (fintech) company and one of the biggest Czech firms operating in the Philippines, is looking to invest an additional P18.6 billion as it expands its operations in the country. (Read more) Philippines: Fintech Firm…

Transactives, the leading conference organizer of EuropeanPaymentSummit (EMEA) and GlobalPaymentSummit (APAC) , has teamed up with Australian Payments Network (AusPayNet), the self-regulatory body for Australia’s payments industry and home for cross industry innovation, to bring the inaugural Australian Payment Summit to Sydney, Australia on 13 December 2017 . The Australian Payment Summit will be an annual event co-hosted by Transactives and AusPayNet. Working in close cooperation, the two organisations have secured a program of more than 20 high-calibre industry speakers for the inaugural one-day event themed “Towards a New World of Payments”. Dr Philip Lowe, Governor of the Reserve Bank…

The PRU Fintegrate Partnership is open to fintech startups from around the world which share Prudential’s commitment to making insurance simpler and more accessible to customers. The programme has started by working with startups which offer a solution to one of the 19 insurance-related problem statements selected by Prudential from Singapore’s 2017 Global Fintech Hackcelerator. The statements cover areas such as customer engagement, financial inclusion, Regtech and other financial categories. The Hackcelerator is one of the key highlights of this year’s Singapore Fintech Festival which will be held from 13-17 November 2017. For more information, download the full set of…

Every week, we bring you the biggest IoT and Tech news from Asia and around the world. This week, people are debating whether AI could spark a new religious movement, and Google pledges $1B into training people for the future job market. God will be replaced by Artificial Intelligence as New Religion emerges – ancient-code.com Google Unveils Job Training Initiative With $1 Billion Pledge – nytimes.com Smart Things: The ‘internet of things’: what it is and why business is taking it seriously – theguardian.com Samsung taps the Internet of Things to find your lost stuff – mashable.com‘ Internet of Things:…

Sunline Master International (SMI) has inaugurated its new office on 12 October 2017 following the signing of a joint venture agreement in July 2017 between Shenzhen Sunline Tech Co Ltd & PT Mastersystem Infotama. This new company, operating under the name of Sunline Master International will benefit from strengthened portfolio and local talents to expand its wings in the innovative and growing Indonesia financial IT market. “We definitely see a potential for initiatives and growth in the financial industry centred on the rise of FinTech, digital banking systems and end-to-end functionalities in Indonesia,” said Avy Lim, President Commissioner of Sunline Master International. With the official commencement of its…

IDC Financial Insights unveiled a list of 101 fast growing fintechs in Asia/Pacific (excluding Japan) from 10 major markets – China, Australia and New Zealand, South Korea, India, Hong Kong, Singapore, Indonesia, Malaysia, Philippines, and Thailand. “IDC’s FinTech Fast 101” refers to the fast-growing fintech players based on extensive on-ground analysis of the dominant fintech players within the region. This list also identifies 10 fast growing fintech’s for Singapore. 10 Fast Growing FinTechs in Singapore Alpha Fintech Alpha Fintech has developed the world’s first omni-channel solution access platform that consolidates the entire payments, risk and transaction world on one…

IDC Financial Insights has unveiled a list of 10 fast growing fintechs in Indonesia, part of the broader FinTech 101 list for Asia/Pacific, at the FinTech Innovation Summit 2017 held at The Ritz-Carlton Pacific Place, Jakarta. “IDC’s FinTech Fast 101” refers to the fast-growing fintech players in Asia/Pacific based on extensive on-ground analysis of the dominant fintech players within the region. 10 Fast Growing FinTechs in Indonesia Amartha The story of us begins with a Microfinance Institution that aims to bridge rural business actors who have limited access to capital. Now through FinTech we are modernizing microfinance by building…

With some 25+ startups, Cambodia’s fintech startup landscape remains modest but is nevertheless growing steadily, according to a new report. Unsurprisingly, payment and remittance is the most crowded space with 16 startups. These include Wing, a mobile banking services provider targeted at the unbanked, PayGo, a digital wallet, TrueMoney, mobile payment provider, and Prasac, one of the largest microfinance institutions (MFIs) in Cambodia. Cambodia also has startups tackling other spaces including alternative finance such as TosFUND, a non-profit crowdfunding, and Karprak.com, an online peer-to-peer lending platform; insurtech like Bima; credit rating like Agribuddy; accounting services such as Banhji, and blockchain…