Huawei and Swiss banking software company Temenos announced a partnership to offer Temenos’ cloud-native core banking solution on the Huawei Public Cloud. Temenos is the first core banking software to be certified with the Huawei Public Cloud and its infrastructure. The partnership covers Asia with a specific focus on China and it also includes Africa, Europe, Latin America and the Middle East. It brings together the extensive cloud hosting, implementation, and integration strengths of Huawei and the power of Temenos’ industry leading banking software. The scope of the partnership covers sales and marketing, implementation and training. Financial institutions will be…
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Rapyd, a global Fintech-as-a-Service company, announced the launch of Rapyd Ventures, its new venture arm that will focus on investing in early and growth stage businesses. The new venture arm will be led by Joel Yarbrough, MD of Rapyd Ventures and Rapyd’s VP of Asia Pacific. Rapyd Ventures will largely work with startups after their seed round and through Series B funding that have unique market and customer insights and are expanding on existing market traction. In addition to capital, Rapyd Ventures will provide access to its extensive Fintech-as-a-Service capabilities and network of partners, offering startups strategic advice and giving…
Futu Singapore, a wholly-owned subsidiary of Futu Holdings which offers a fully digitised brokerage and wealth management platform, has attained over 100,000 paid clients with its user base soaring over 220,000 in Singapore since the official launch of its moomoo app in March 2021. The firm said that its robust growth over the few months has been complemented with positive user feedback on the interface and product offerings. Futu’s one-stop trading platform provides users with a seamless platform to manage their portfolio across multi-markets, access up-to-date resources and real-time market data, and interact with other like-minded individuals via the in-app…
Wise, a London-based online money transfer service formerly known as TransferWise, announced the launch of its low-cost and fast international money transfers from India. With this launch, Indians will be able to send money from the country to 44 countries globally, including the UK, US, Singapore, Malaysia, UAE and countries in the Eurozone. Additionally, the company also announced the opening of its India office in Mumbai and the appointment of payments industry veteran Rashmi Satpute as the expansion lead for the company in India. Wise has received Reserve Bank of India’s approval to offer the service in conjunction with a…
Broadridge Financial Solutions, a US-based technology solutions provider, announced the appointment of Ian Strudwick as General Manager and Head of Asia Pacific (APAC), effective immediately. Strudwick’s appointment builds on the recent joining of David Ingleson as Chief Operating Officer for APAC earlier this year, further enhancing the APAC leadership bench as the global fintech leader continues to support APAC clients to grow their operations. He brings 23 years of extensive experience in the financial services and technology sector, with over 16 years spent in leadership roles for global and regional teams across capital markets, trade finance and business services. Strudwick…
Fintech startup incubator and accelerator F10 has partnered with Seoul Fintech Lab which is funded by the Seoul Metropolitan Government and K accelerator, a fintech support center based in Seoul, to expand its incubation programme to South Korea. The programme is focused on helping early-growth stage South Korean fintech startups sharpen their business offerings in preparation for international markets and corporate customers. F10 will select the 10 most promising startups to join the six week programme, starting on July 26th 2021. The programme will run in a hybrid format, with four weeks of virtual classes and an intense two week…
DBS announced that it has priced an SGD 15 million digital bond, marking DDEx’s first Security Token Offering (STO) as part of efforts to broaden the suite of products on the DBS Digital Exchange (DDEx). The DBS Digital Bond, which comes with a six-month tenor and coupon rate of 0.60% per annum, was done by way of private placement. DBS is the sole bookrunner for the transaction. This paves the way for other issuers and clients to tap on DDEx’s capabilities to efficiently access capital markets for their funding needs and sets the stage for more STO issuances and listings…
In Episode 6, we’re joined by Brett King, best-selling author and arguably one of fintech’s most influential figures, as he walks us through the key trends that will shape Asia’s fintech scene.
As mobile banking use surges worldwide in response to COVID-19 and its associated lock-downs, a corresponding rise in mobile banking fraud continues to increase in prevalence and sophistication. As fraudsters hone their craft, how can financial institutions keep and protect its users? Join our webinar to explore approaches and strategies to eliminate the impact of increasingly sophisticated fraud threats.
The Philippines banking industry has accelerated their digital transformation in the past year as contactless banking emerged as the new norm. The need to fast-track their transformation strategies and plans brings new hurdles and challenges. Stay tuned as industry leaders provide us with rare insights on how the financial services industry can steer modernisation efforts for Philippines’ digital generation. Key topics Honing in on mobile-first strategy to stay competitive Fostering innovation through strategic fintech partnerships Digital banking as a game changer for financial inclusion
Key Discussion Points How FIs of all sizes can leverage mobile to improve productivity, especially as contactless banking becomes the norm Integrating multi-factor authentication options into mobile apps Striking the right balance between security and user experience How to compete in today’s mobile app threat landscape and best practices for mitigating attacks Confirmed Speakers William Streitberg, Chief Information and Technology Officer, Hong Leong Bank, Malaysia Sachin Sharma, CPO nexus, SC Ventures, Standard Chartered, Singapore Ros Aziah, Head of Technology, CIMB, Malaysia Sam Bakken, Senior Product Marketing Manager, OneSpan, US Moderated by: Vincent Fong, Chief Editor, Fintech News Malaysia
Stripe, an online payment processing company, has partnered with GrabPay to enable businesses across Southeast Asia to offer consumers a more rewarding and convenient online payment method through the latter’s e-wallet, starting in Singapore and Malaysia. The partnership with GrabPay will enable businesses in Singapore and Malaysia to tap into this e-commerce growth by managing GrabPay, card payments, and other popular local payment methods within one single integration. GrabPay works with both Stripe Checkout and API integration, allowing merchants to support payments in both Singapore Dollar and Malaysian Ringgit currencies. This allows merchants to connect to millions of Grab users,…
Digital wallets in Singapore have enjoyed a bumper year. With lockdowns catalysing the growth of online shopping, the local e-commerce market reached US$7 billion in 2020. And growth is expected to stick. 9 in 10 new digital consumers intend to continue using digital services going forward. As the digital economy grows, online payments will follow, fuelling the growth of digital wallets. According to the 2021 global payments report by FIS, digital wallets accounted for 20 per cent of local online payments in 2020, trailing behind credit cards (45 per cent). However, the pecking order is expected to change by 2024,…
Emerging technologies, evolving customer demands and a changing regulatory landscape are redefining the financial services industry, forcing incumbents to transform their business models and adopt a data-first strategy in order to survive, a new paper by Equinix and Dell Technologies says. The paper, titled Designing a Data-First Strategy for Financial Services: Foundations of Digital Transformation in Financial Services, looks at the changing financial services landscape, delves into the digital challenges incumbents face, and explores the different types of technology they must adopt to remain competitive. Non-banking service providers including bigtechs like Google, Apple and Amazon have entered the financial landscape…
Singaporeans are moving away from paper-based payments and embracing real-time digital payments and mobile wallets, a shift that has accelerated with COVID-19, a new report by ACI Worldwide Real-Time Payments and GlobalData says. 2021 Prime-Time for Real Time, a global report tracking and analyzing real-time payments across 48 global markets, shows that real-time transactions volumes and values have jumped significantly over the past years in Singapore and are further expected to grow. In 2020, total real-time transactions reached 138.38 million, up a staggering 48% from 93.24 million in 2019, while the value of real-time transactions surged 40%, jumping from US$110…
In Q1 2021, Singaporean fintech companies raised a staggering S$656 million in equity funding, a 355% increase compared to the same period last year, data from the Boston Consulting Group (BCG) show. The large figure, which represents about 46% of total funding raised in the whole year 2020, was driven by fintechs operating in the business lines of retail banking, with the Grab Financial Group (GFG) deal alone making up 63% of Q1’21 fintech funding. GFG, the fintech arm of ride-hailing giant Grab, raised a massive S$417 million Series A funding round in January. The deal was announced just a…
Insurer Aviva Singlife announced that it has appointed former DBS’ senior exec Pearlyn Phau as its Executive Director and Group Chief Executive Officer following its S$3.2 billion merger deal. The merger transaction between Singlife and Aviva is said to be one of the region’s largest insurance deals and the largest in Singapore. The scheme of transfer which will combine the two entities, has been approved by the MAS. It is now subject to the approval of Singapore courts and is expected to complete later this year. Pearlyn’s appointment as Group CEO will be effective on 18 August 2021 and is…
Out of the top 100 women in fintech selected by BizClik Media Group last month, Fintech News has shortlisted the top listed 15 female leaders who are driving changes in Asia’s banking, financial services and insurance industry. These women have earned their place and the respect of their peers through hard work, talent and determination. They represent some of Asia Pacific (APAC)’s most successful startups, innovative banks and biggest fintech communities, and are recognized today for having made notable contributions to the sector. Dr. Ayesha Khanna Co-Founder and CEO, Addo AI Website | Linkedin | Facebook | Twitter Dr. Ayesha…
DBS, Singapore Exchange (SGX), Standard Chartered and Temasek joined forces to take climate action through a joint venture Climate Impact X (CIX) which aims to be a global exchange and marketplace for high-quality carbon credits. CIX will offer distinct platforms and products that cater to the needs of different buyers and sellers of carbon credits which include the Exchange and the Project Marketplace, which are expected to be launched by end 2021. The exchange will facilitate the sale of large-scale high-quality carbon credits through standardised contracts catering primarily to multinational corporations (MNCs) and institutional investors. CIX will leverage satellite monitoring,…
Private capital platform iSTOX announced that it is rebranding itself as ADDX as it enters a phase of fast-paced growth following a Series A funding round that raised US$50 million in January from Japanese state-backed investors. Accompanying the fresh brand name is a newly-launched ADDX mobile app, now available on both Apple and Android devices, to enable users to invest in the private markets on the go as well as on the ADDX desktop website. Existing investors can log on to the new ADDX platform with the same username and password to view their current investment holdings or to trade.…