Posts From Fintech News Singapore
Challengers Bank Raised Over US$6.8 Billion in 2020 to Disrupt Traditional Banking
Challengers banks continue to attract investors’ interest, raising US$2.4 billion through 58 deals in Q3’20. This brings the total amount of funding raised by digital banking players so far this year to more than US$6.8 billion, according to CB Insights’
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MSIG Introduces Insurance Plan for Gig Workers
MSIG Insurance (MSIG) has introduced Freelancer CashPlus, an insurance plan that dispenses daily cash benefits to help gig workers safeguard against income loss during a prolonged illness or injury. According to the Ministry of Manpower, the number of freelancers stood
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Rapyd Kicks off in Thailand Partnering Leading Thai Payment Solution Providers
Rapyd, a Fintech-as-a-Service company, has announced the launch of its ‘all-in-one’ suite of payment capabilities in Thailand which is its seventh global market. Rapyd’s solution is a comprehensive set of local and international payment methods that includes local ewallets, bank
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Singlife and Aviva Completes Merger Transaction at S$3.2 Billion
Homegrown insurer Singlife has completed the transaction for its merger with Aviva Singapore at S$3.2 billion. The transaction announced on 11 September 2020 is said to be one of the region’s largest insurance deals and the largest in Singapore. After
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E-Wallets Will Soon Have Access to E-Payment Platforms FAST and PayNow
The Monetary Authority of Singapore (MAS) announced that non-bank financial institutions (NFIs) that are licensed as a major payment institution under the Payment Services Act, will be allowed to connect directly to Fast and Secure Transfers (FAST) and PayNow from
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Southeast Asia’s Young, Tech-Savvy Population Drives Rise of Data-Driven Banking
Southeast Asia’s young, digitally-savvy and unbanked populations are driving the rise of digital banking, forcing financial services companies to unlock the power of data to provide better, more personalised and more affordable products and services, explained Arvid Swartsenburg, Head of
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Blockchain Firm Lightnet Group Partners SCB to Ease Remittance Access in Thailand
Blockchain firm Lightnet Group, has announced a partnership with Siam Commercial Bank (SCB). The partnership will reportedly enable remittance services to become accessible to all Thai bank accounts and anyone who has signed up for PromptPay, a government-sponsored service that
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Global Ecosystem for Digital Transformation in the Financial Sector
COVID-19 has speeded up digital transformation by several years. According to a new McKinsey Global Survey of executives, companies across regions and industries have accelerated the digitalization of their customer and supply chain interactions, as well as of their internal
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Which Fintech Firms Are Breaking Into Banking With Credit Cards?
One staple of the financial world in the whole of Asia has been the credit card. These handy cards allow people around the continent to access cash that they might not actually have in the bank. Once the money is
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Australia Begins Blockchain Trial With Singapore for Cross Border Trade
The Australian Border Force (ABF) begins a blockchain trial for cross border trade with Singapore’s Infocomm Media Development Authority (IMDA). This partnership is in line with the bilateral Australia-Singapore Digital Economy Agreement. A trial was launched on 23 November with
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