Banks seeking to use a mobile app that promises to enable them to expand their businesses without building any physical branches, are required by the Bangko Sentral ng Pilipinas (BSP) to obtain a special license, the BusinessMirror reported. The app’s developer Black-Genie, a Singapore-based company, claims their solution allows banks to not spend on bricks and mortar branches and that all a lender needs are a $200 tablet, a $40 card reader and a $60 printer, tops. Private banks noted building physical branches typically cost in excess of P10 million per branch. Backed by Japan-based SBI Group, and the Dutch…
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FintechFans and PortfolioQuest are set to organize two FinTalent Competitions in Malaysia and another location to be soon announced. The events will seek to provide students with a platform to showcase their forecasting, data science and portfolio management sills. Last year’s FinTalent Competition took place as part of the 2017 Singapore Fintech Festival and gathered close to 400 students from local Universities and Polytechnics in the nation-wide competition. The grand prize winner was Aaron Loke from Nanyang Polytechnic and the top 10 runners-up came from several schools including the National University of Singapore (NUS), Ngee Ann Polytechnic (NP), Singapore Polytechnic…
IDC Manufacturing Insights Worldwide Commercial Robotics program published its latest report titled “IDC FutureScape: Worldwide Robotics 2018 Predictions – Asia/Pacific (Excluding Japan) Implications”, which highlights the top 10 predictions pertaining to the development and adoption of robotics in Asia Pacific (Excluding Japan) region from 2018 through 2021. IDC predicts that by 2020 in APeJ, 40% of newly installed industrial robots in the region will be equipped with at least one intelligent feature. Jing Bing Zhang “The advancement of robotics technology has entered a new era of robotics – one with embedded and/or cloud-based artificial intelligence. Called Robotics 3.0, intelligent robots are characterized…
We have selected our Top 10 IOT Gadgets for 2018 to play around. 1. Tile Mate Key Finder The world’s best-selling Bluetooth tracker just got 25% smaller. Tile Mate easily loops onto keychains or attaches to anything you don’t want to lose so you can find it fast. 2. Awair Glow — Air Quality Monitor Awair Glow tracks toxins and chemicals in your air and gives you personalized tips to help you stay safe and healthy. Glow plugs directly into the wall and can also turn on your “non-smart” devices the moment your air quality drops (or at…
We have selected our Top 10 IOT Gadgets for 2018 to play around. 1. Tile Mate Key Finder The world’s best-selling Bluetooth tracker just got 25% smaller. Tile Mate easily loops onto keychains or attaches to anything you don’t want to lose so you can find it fast. 2. Awair Glow — Air Quality Monitor Awair Glow tracks toxins and chemicals in your air and gives you personalized tips to help you stay safe and healthy. Glow plugs directly into the wall and can also turn on your “non-smart” devices the moment your air quality drops (or at…
IDC Manufacturing Insights Worldwide Commercial Robotics program published its latest report titled “IDC FutureScape: Worldwide Robotics 2018 Predictions – Asia/Pacific (Excluding Japan) Implications”, which highlights the top 10 predictions pertaining to the development and adoption of robotics in Asia Pacific (Excluding Japan) region from 2018 through 2021. IDC predicts that by 2020 in APeJ, 40% of newly installed industrial robots in the region will be equipped with at least one intelligent feature. “The advancement of robotics technology has entered a new era of robotics – one with embedded and/or cloud-based artificial intelligence. Called Robotics 3.0, intelligent robots are characterized by their ubiquitous…
The Philippines’ startup ecosystem is growing rapidly with more and more young professionals starting their own ventures. According to a study by QBO Innovation Hub and PwC Philippines, there are now more than 300 startups in the country, most of which being founded between 2012 and 2017. The 2017 Philippine Startup Survey found that despite the global and local uncertainties, 54% of the founders polled still started new businesses between 2016 and 2017. This is indicative of the high level of confidence in the country’s economy, government and general business environment, according to the report. In fact, 86% of the…
Indonesia is slowly moving away from its dependency on cash as startups, banks, and telcos alike are all introducing new types of card-based and mobile money. Some of them are forcing consumers into their ecosystems. For example, the country made it mandatory to pay for toll roads with e-cash cards at automated gates. Five different types of cards are accepted at these toll gates, including Bank Mandiri’s E-Money card and and Bank BCAs Flazz. Mandiri and BCA are Indonesia’s two largest banks. In some malls, paying for parking requires downloading a mobile wallet app. Visitors have complained about getting stuck…
Here is a summary of our Hot Fintech articles from 2017 for South East Asia and Hong Kong. We will update this list soon. Stay tuned. Singapore CashShield Established in 2007, CashShield is a transaction fraud detection service that leverages on big data, predictive analysis and machine learning. The technology is able to analyze in real time opertinent variables such as customer purchase behavior, account logins and social media behavior to determine whether a fraudulent transaction is taking place. TransferTo TransferTo operates a Cross-Border Mobile Payments Network to emerging markets, processing transactions in real-time for duly licensed financial institutions and merchants. TransferTo…
Arecent Safe Cities survey offers a revealing snapshot into the plans and progress of public safety initiatives across Asia Pacific, and why integration is the key to success.If Asia Pacific is on track to emerging as the world’s most powerful economic region, its cities are also on their way to becoming some of the planet’s smartest. A recent report predicted the number of smart cities worldwide to quadruple over the next ten years, with Asia Pacific expected to see the highest number of smart cities, reaching 32 by 2025, ahead of Europe and the Americas. But what does the term…
Fintechnews.PH picks every Friday for you the top 5 Fintech Philippines News of the week: Follow the Fintech Philippines Facebook or Twitter channel to stay updated. Here we go: Top 10 Digital Trends Impacting Philippines in 2018 and Beyond IDC Philippines announced its top 10 predictions for the Philippine ICT industry for 2018 and beyond. (Read more) PH Remittance further widens Fintech Horizon Once again, remittances from overseas Filipinos surpassed its year-on-year record, giving a wider horizon for financial technology (fintech). (Read more) 8 Fintech Startups In The Philippines To Keep An Eye On This Year The Philippines is believed to be an attractive…
Tokio Marine Life Insurance Singapore introduced a new functionality to their TOMI chatbot. The update will enable users to conveniently find suitable TMLS panel clinics within their designated search area. With filters such as doctor specialisation and clinic location, consumers can identify clinics based on their various needs and schedules, reducing any pre-appointment administrative hassle. Previously, advisers and consumers needed to scan through an extensive list of 539 panel clinics online. While they could filter results with a location search, the previous interface may not have been immediately intuitive for most users. According to available data, information on TMLS panel…
Small and medium enterprises (SMEs) in the Association of Southeast Asian Nations (ASEAN) region are looking to invest more in technology in order to raise productivity and remain competitive, according to a report by EY, United Overseas Bank (UOB) and Dun & Bradstreet (D&B). According to the ASEAN SME Transformation Study, 60% of the 1,200+ SMEs surveyed for the study said they will focus their investments on technology in 2018 to help drive business performance and raise productivity. More specifically, 78% said they will invest specifically in software such as improving their websites and creating mobile apps, and 65% in…
Japanese multinational conglomerate Hitachi is going big on the Internet-of-Things (IoT), robotics and artificial intelligence (AI), which the firm believes could push business further, improve productivity, reduce costs and improves people’s lives. The EMIEW3 robot Hitachi has developed the robotics IT platform and the humanoid robot EMIEW3 that can support humans’ daily activities by its independent action from thinking for itself. Unlike most robots which are used in industries, EMIEW3’s purpose is to live with humans and assist us in our daily lives, serving as a reliable helper in such situations, responding to any question with a broad as…
IDC announced today its top ten technology predictions for 2018 and beyond at the IDC Indonesia FutureScape event held at Westin Hotel, Jakarta. The event highlighted the key technology predictions that enable Indonesian enterprises to strengthen their digital strategies as the nation aims to become the largest digital economy in Southeast Asia with market valuation worth US$ 130 Billion in 2020. IDC urge enterprises to scale up and accelerate innovation as digital transformation (DX) attains macroeconomic scale in Indonesia. Despite the continuous initiatives from the local government to support the development of digital economies such as 1000 Technopreneurs and the…
Worldwide spending on the technologies that enable Smart Cities initiatives is forecast to reach $80 billion in 2018, according to the International Data Corporation (IDC). In the first release of the Worldwide Semiannual Smart Cities Spending Guide, IDC provides a detailed look at the technology investments associated with a range of Smart Cities priorities and use cases. As these initiatives gain traction, IDC expects spending to accelerate over the 2016-2021 forecast period, growing to $135 billion in 2021. Serena Da Rold “Smart Cities have recently evolved from a collection of discrete flagship projects to a sizeable market opportunity that will drive…
CIMB Bank Berhad has added new features to its mobile application, the CIMB Enhanced Virtual Assistant (EVA), to bring further personalised, convenience and improved experience to its customers. Launched in December 2016, CIMB EVA has delivered in enabling account overviews and transactions through chat or quick keyword access. EVA was recently enhanced to include Spend Analyser and natural language conversational capabilities. These features are made available through collaboration with Singaporean fintech companies like MoneyThor and Active.Ai. With CIMB EVA’s Spend Analyser which was done in collaboration with MoneyThor, customers can manage their accounts better and make smarter financial decisions via…
Fintechnews.PH picks every Friday for you the top 5 Fintech Philippines News of the week: Follow the Fintech Philippines Facebook or Twitter channel to stay updated. Here we go: UnionBank embraces tech behind bitcoin in digital pivot If a bank is serious about going digital, it needs to do more than just use the latest gadgets to make transactions easier, it also needs to embrace the disruptive advances in fintech or financial technology, according to the boss of UnionBank. (Read more) Bangkok-based firm plans initial coin offering in the Philippines Bangkok-headquartered Global Crypto Hub plans to launch an…
The Philippines is believed to be an attractive market for the introduction of digital banking and fintech solutions, thanks to its young population, high Internet penetration rate, and yet low digital payments adoption. Numerous fintech players have entered the market and several of these have gained notable size and recognition. Here are eight fintech startups in the Philippines to keep an eye on this year: Venteny Venteny offers employee benefits and loan services for companies. It allows companies to institute an employee loyalty-point system. Employees are incentivized by discounts to restaurants, hotels, gyms and other activities. In partnership with…
Some of the world’s leading entrepreneurs, business leaders, academics and creatives will gather to explore topics of innovation and technological excellence at the GREAT Festival of Innovation in Hong Kong from 21 to 24 March. The Festival will showcase some of the UK’s most advanced technology, including the UK-designed and developed autonomous robot dog MiRo, which will be shown in Asia for the first time. MiRo, a companion robot with six senses capable of emotional engagement (credit Consequential Robotics) Organised by the UK’s Department for International Trade, the event has already attracted a host of top names at the cutting edge…