Singapore has introduced new data protection guidelines for generative AI alongside a cross-border data agreement with Japan. The initiatives aim to help businesses adopt AI and data-driven technologies while managing privacy obligations and commercial sensitivities. Minister for Digital Development and Information Josephine Teo announced the initiatives at the inaugural Singapore Data Festival. Consent rules for AI training The Personal Data Protection Commission (PDPC) issued advisory guidelines detailing how data protection principles apply across the AI lifecycle. Covering areas such as data collection, usage, and accountability, the guidelines clarify how companies can use personal data for Gen AI development. They also…
Author: Fintech News Singapore
Author
Read More
Allianz Partners has partnered with Travelgoogoo to bundle eSIM connectivity with selected travel insurance plans. Eligible customers across Asia Pacific will receive access to the Travelgoogoo365 Annual Plan, which includes membership in the Travelgoogoo eSIM Travel Club. The membership covers messaging and internet-based voice calls through WhatsApp, LINE, Telegram, WeChat, Viber and Zalo across 123 destinations without a separate data plan. Members can also buy high-speed data at discounted rates. Allianz customers will receive a complimentary 1GB global starter pack for a limited period. The service removes the need to swap physical SIM cards or rely on public Wi-Fi. Customers…
Asia-Pacific (APAC) leads the world in AI adoption. However, the skill shortage remains the primary barrier to true AI transformation, according to a new study by commercial real estate services firm JLL. The survey, conducted between January and April 2026, captured perspectives from 2,200 C-suite executives and corporate real estate leaders from 21 countries. It revealed that 52% of APAC respondents are adopting AI across technology management, 51% across portfolio optimization, and 47% across commercial real estate strategy development, positioning the region as the global leader in AI adoption. AI skill shortage Despite this progress, skills gaps in AI, analytics,…
Alipay+ is connecting its global wallet network to Argentina’s national QR payment system. The integration with Transferencias 3.0 will let international travellers pay at millions of merchants using participating Alipay+ partner apps. Travellers will be able to scan the QR codes already displayed at restaurants, shopping centres, tourist attractions and other businesses. The service will roll out to partner apps in phases. The integration is being carried out with PVS, a fintech company that develops payment solutions in Latin America. Merchants can continue using their existing QR acceptance infrastructure. Transferencias 3.0 is an interoperable instant payment system developed by the…
ACI Worldwide’s billing operation could be put on the market at a valuation of about US$1.5 billion. Known as the Biller segment, the business supplies technology for electronic billing and digital payment collection across government, healthcare, insurance, telecommunications and utility services. ACI reported 2025 revenue of about US$818 million and adjusted EBITDA of US$141 million for the segment. The possible valuation represents roughly 10 to 12 times those annual earnings. Advisers are helping ACI assess buyer interest, including from private equity firms, Reuters reported citing three sources familiar with the process. Discussions remain preliminary and may not lead to a…
SBI Holdings has completed its acquisition of a majority stake in crypto platform Coinhako after receiving approval from the Monetary Authority of Singapore. The Japanese financial group completed a capital injection and acquired shares from existing shareholders through its Singapore subsidiary, SBI Ventures Asset. Coinhako is now a consolidated subsidiary of SBI Holdings. The Coinhako Group primarily operates through Hako Technology, which holds a Major Payment Institution licence from the Monetary Authority of Singapore. The group also operates Alpha Hako, a crypto asset service provider registered with the British Virgin Islands Financial Services Commission. The acquisition supports SBI Holdings’ broader…
The Emerging Payments Association Asia (EPAA) has launched an APAC working group with founding member HSBC to address liability, identity and fraud risks in agentic payments. The group will bring together banks, payment networks, fintech firms and technology platforms to develop common standards for payments initiated by AI agents. APAC currently lacks an agreed framework for determining liability when an agent exceeds its mandate or a transaction goes wrong. The group’s work will cover agent identity, authentication, authorisation and liability, alongside commercial models and practical guidance for the industry. Its recommendations will be developed through an 18-month engagement process with…
Crypto.com has secured a US$400 million investment from global market maker Citadel Securities. The transaction values the company at US$20 billion and marks its first institutional funding round in a decade of operations. Proceeds from the investment are expected to support Crypto.com’s expansion into new asset classes, including tokenised securities and derivatives. Crypto.com said the funding will help bridge digital and traditional markets while supporting a 24/7 financial ecosystem. The deal comes as traditional financial institutions increasingly engage with blockchain infrastructure and digital assets to improve capital market efficiency. “The size of the opportunity in front of us is staggering,…
Amazon Web Services (AWS) will replace Dave Brown as head of its compute and machine learning business when he leaves at the end of July. Dave Treadwell will take charge of the division on 1 August, Reuters reported. He currently serves as Amazon’s Senior Vice President of eCommerce Foundation. Brown is taking a position outside Amazon after nearly 19 years at AWS. The company has not disclosed his next employer or role. Both executives are members of Amazon’s S-team, which advises CEO Andy Jassy. Brown joined the group in 2023 and was promoted to senior vice president in April 2026.…
Singapore-founded Paymonade can now offer regulated crypto services across 30 European markets under a single MiCA licence. Damoon Technology (Europe), which trades as Paymonade, received the licence from Liechtenstein’s Financial Market Authority. The approval allows the company to provide crypto-asset services across the European Economic Area under a single passportable authorisation. Paymonade provides fiat-to-crypto and crypto-to-fiat infrastructure for cryptocurrency exchanges, fintech companies and payment providers. The company reported an annualised transaction volume of US$1.8 billion in the first half of 2026. “The era of lightly regulated crypto is ending. Getting this licence over the finish line, at a time when…
Visa has introduced a stablecoin platform for minting, moving and managing digital dollars. The Visa Stablecoin Platform is designed for financial institutions, fintech companies and payment providers looking to run stablecoin operations through a single Visa-managed environment. The platform will initially support Open USD, a stablecoin introduced by Open Standard. Clients will be able to mint, redeem, hold and transfer the stablecoin for treasury, settlement and liquidity purposes. Visa is also introducing a Wallet-as-a-Service offering that gives institutions access to onchain wallet infrastructure. Clients can use a Visa-managed wallet system or connect their existing wallets. The platform allows users to…
PayPal’s board reportedly views a US$53 billion takeover proposal from Stripe and Advent International as falling short of the company’s potential value, according to Reuters. PayPal has yet to issue a formal response to the US$60.50-per-share offer. The board is expected to hold further meetings as it assesses the proposal and whether competing offers could emerge. The bid would give Stripe and Advent equal stakes in PayPal while keeping the payments company together under joint ownership. The consortium reportedly remains interested in securing a deal despite PayPal’s reservations. Block was involved when the group first approached PayPal in April but…
The Monetary Authority of Singapore (MAS) has flagged weaknesses in how some crypto firms apply anti-money laundering (AML) controls. MAS found that digital payment token service providers generally understand their obligations but need to improve how some controls are implemented. The regulator identified shortcomings in customer due diligence, transaction monitoring, screening and risk assessments for new tokens. Some firms lacked clear guidance on how staff should assess and document risks before listing tokens. Others relied too heavily on customer declarations when checking the source of wealth and funds for higher-risk customers. MAS also found cases where providers failed to investigate…
Digital financial services now shape everyday life, placing greater pressure on companies to earn and keep customer trust. With more transactions, more touchpoints and more customer data, getting security right has never been more important. eKYC is no longer just a compliance checkbox. It is now a critical part of how financial institutions build and maintain trust across the entire customer journey. This webinar will bring together industry experts from across the region to share practical insights on what comes next for eKYC in APAC. The evolving role of eKYC across the full digital customer journey Tackling identity fraud and…
Triple-A has secured in-principle approval from Dubai’s Virtual Assets Regulatory Authority (VARA) for broker-dealer services. The Singapore-based payments company must now complete operational readiness requirements and meet the regulator’s remaining conditions as its application moves towards a full licence. Its licensing assessment remains ongoing. VARA oversees the provision, use and exchange of virtual assets in and from Dubai. Triple-A is also licensed in Singapore and the European Union under MAS and MiCA requirements. It has money transmitter licences in more than 20 US jurisdictions and is registered as a money services business in the United States and Canada. Eric Barbier,…
Mambu has been certified as an Enabler of Swift’s Business Connect and Value-Added Services. The cloud banking platform can now provide financial institutions with fully managed access to Swift’s global financial messaging network without needing to operate dedicated infrastructure or rely on legacy services. Integrated directly into the Mambu Payments Hub, the capability allows banks and fintechs to manage cross-border and domestic payment flows from a single platform. Institutions can also use the platform to manage international payment use cases consistently. These include correspondent banking, partner bank connectivity, and direct access to market infrastructures. Under this model, Mambu manages the…
Mastercard has launched wallet-building tools that let banks and fintechs add contactless payments to their apps. The Mastercard Wallet Services supports iOS and Android, allowing companies to build payment features across both operating systems without managing separate integrations or EMVCo certifications. The service includes software development kits and a Secure Element applet. It works with Mastercard Digital Enablement Service, the company’s tokenisation platform. Apple’s NFC Shift Opens More Wallet Options The launch follows Apple’s move to expand third-party access to the iPhone’s near-field communication technology in more markets. Android has long supported multiple contactless wallets, while limited access to Apple’s…
Visa has expanded its Infinite card portfolio in APAC with two new tiers for affluent and ultra-high-net-worth customers. The range now includes Visa Infinite, Visa Infinite Privilege and invitation-only Visa Infinite Private, with different levels of travel, dining, wellness and lifestyle benefits. Visa Infinite offers curated travel experiences, airport fast-track services, hotel privileges, dining programmes and selected subscription benefits. Visa Infinite Privilege adds private travel planning and access to global private members’ clubs, while Visa Infinite Private includes bespoke concierge services and enhanced airport fast-track access. The portfolio also includes benefits from partners such as Accor, Banyan Group, Trip.com and…
Episode Six has established an AI centre in Singapore to develop agentic capabilities for banks, fintech companies and payment infrastructure. The centre will develop AI capabilities anchored on Episode Six’s cloud-native payments and ledger platform, TRITIUM. Its work will include improving internal operations, helping clients streamline their processes and speeding up onboarding, integration and time-to-revenue. The centre will also help banks and fintech companies build agent-driven and AI-assisted payment products on Episode Six’s infrastructure. It will make its technical documentation and development tools accessible to AI agents through a production-grade Model Context Protocol server. The initiative is supported by the…
Adyen has appointed Gary Yang as its Asia-Pacific President, effective 1 August 2026. Based in Singapore, Yang will oversee the company’s commercial growth and operations across the region. He succeeds Warren Hayashi, who will retire at the end of 2026. Hayashi will work with Yang over the coming months to support a smooth handover. Yang joined Adyen in 2018 and most recently served as SVP, Global Head of Account Management and Partnerships. In that role, he oversaw account management and partnerships globally. Prior to joining Adyen, Yang was Vice President of Operations at Peek and an early General Manager at…