Posts From Fintech News Singapore
7 Things You Need to Know About Singapore’s Digital Banking Licenses
Following the announcement and issuing of Hong Kong’s virtual banking license, Singapore has announced their intentions to launch the same; to allow entities without banking parentage to conduct banking activities. Digital banks generally refers to banking entities that operate without
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Sumitomo Life Buys 25% Stake in Singapore Life for US$ 90 Million
Singapore Life seems to be a on a streak, as they raise yet another round funding this year. In this round, the homegrown insurtech company secure US$ 90 Million investment from Sumitomo Life Insurance company. Through this transaction Sumitomo Life
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Monetary Authority of Singapore to Issue up to 5 Virtual Banking Licenses
Speaking at the 46th Annual Dinner of the Association of Banks, Senior Minister Tharman Shanmugaratnam who is also the Chairman of the Monetary Authority of Singapore announced that they will be issuing up to 5 virtual banking licenses. This announcement
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Singapore’s Central Bank Has Some Serious Reservations about Facebook’s Cryptocurrency
The Monetary Authority of Singapore is now among the regulators that have expressed reservations about Facebook’s upcoming cryptocurrency, Libra. The central bank sees significant obstacles in Facebook’s way, according to a Bloomberg report, and they are “not trivial”. Ravi Menon,
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Grab is Now US$300 Mil Closer to Lofty US$6.5 Bil Goal it Needs to Hit By End of 2019
Grab just announced an additional investment of US$300 million from Invesco , a global independent investment management company. The additional investment in Grab takes Invesco’s overall total input into the ride-hailing-turned-potential-virtual-bank up to US$703 million. The latest capital injection puts
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Singapore PM Confirms That Central Bank is “Seriously Studying” Virtual Banking License
Singapore has already expressed their interest issuing virtual banking licenses, which could potentially admit fintech firms without a traditional bank branch at its core. Now, Singapore’s Prime Minister Lee Hsien Loong has confirmed that the Monetary Authority of Singapore (MAS)
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Singapore’s Fintech Adoption Has Increased by Almost Three Times in Just Two Years
In just two years, the rate of Fintech adoption among Singapore consumers has almost tripled, according to the EY Global FinTech Adoption Index 2019. Singapore’s adoption rate jumped from 23% to 67% between 2017 to 2019. The jump positions Singapore
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A Blockchain-Based Alternative to Grab is Now Listed on Binance
Binance just announced a partnership with a Singapore-based blockchain company with a simple goal: keeping relevant information about a vehicle transparent and available on an immutable network. MVL is a blockchain protocol mainly known for running Tada, a blockchain-based alternative
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Accenture: Half of the Banks are Not Making Visible Progress in Digital Transformation
The US$1 trillion that traditional retail and commercial banks have invested globally over the past three years to transform their IT operations has not yet delivered the anticipated revenue growth, according to a new report from Accenture. The report analyzed
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Fintech CEO Pitch: We Challenged Turnkey Lender with 8 Questions
We recently interviewed Dmitry Voronenko, the CEO and Founder of Turnkey Lender, a Singapore based Lending Software provider. This is our first ever Fintech CEO Pitch series. A challenge for Fintech CEOs who think they have what it takes to
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