Author: Fintech News Singapore

The International Monetary Fund (IMF) and the World Bank Group have released the Bangkok Blueprint, a framework to help countries tackle cyber-enabled fraud in digital financial services. Developed with the Bank of Thailand, it sets out 12 considerations to help authorities identify vulnerabilities. It also aims to support coordinated responses across sectors and borders. The two institutions launched the Bangkok Blueprint on 14 October during the 2026 IMF and World Bank Group Annual Meetings in Bangkok. The launch took place in partnership with the Thai authorities. According to the IMF and World Bank, digital finance has widened access and improved…

Xendit and e-commerce intelligence firm Cube have published a report forecasting that Southeast Asia’s e-commerce market will approach US$400 billion by 2031. The report finds that as cash-on-delivery declines, payment preferences differ across markets, leaving merchants to manage different checkout requirements across the region. Southeast Asia’s online market reached US$197 billion in 2025, meaning it would roughly double in six years, according to the Xendit Ecommerce Payments Momentum Report 2026. Shopee, Lazada and TikTok Shop, the region’s three largest e-commerce platforms, grew a combined 33% year on year in the first quarter of 2026 after a slower 2024 and early…

Singapore is tightening its approach to AI safety with new testing guidelines, accredited assessors and stronger cyber defences. The Infocomm Media Development Authority (IMDA) announced three initiatives at the AI Assurance Exchange: The Agentic Edition, organised by the AI Verify Foundation (AIVF) and SGTech. The measures address risks as AI systems gain greater autonomy to access sensitive data, make decisions and act on behalf of users. Singapore Introduces New AI Testing Guidance and Accreditation The new Starter Kit for Testing Agentic Systems for Safety and Reliability guides organisations through risk identification, test design, results analysis and ongoing monitoring. Developed with…

Grab and OpenAI are rolling out ChatGPT training for more than 3,000 drivers, riders and merchants in Thailand. The initiative, called GO Forward with AI, forms part of a regional partnership to equip more than 30,000 Grab drivers, riders and merchants across Southeast Asia with practical AI skills. The programme will cover customer communication, financial budgeting and the use of AI for business and marketing activities. Participants attending in-person workshops will receive three months of complimentary ChatGPT Plus access. Grab Thailand Country Head Chantsuda Thananitayaudom, said, “To further advance our commitment to developing AI skills across our ecosystem, we have…

Anthropic has opened an office in Singapore, its fifth in APAC, and signed a MoU with the Ministry of Digital Development and Information (MDDI). The expansion will strengthen Anthropic’s local support for customers including DBS, Grab and GovTech Singapore. Singapore ranks second among 121 countries for Claude.ai usage relative to population, according to Anthropic’s latest Economic Index, at nearly six times the level its population would predict. “Our customers here hold AI to an extremely high standard, especially when it comes to reliability and security,” said Dale Finlay, General Manager of ASEAN at Anthropic. What the MOU covers The MOU…

StraitsX has partnered with Visa to expand its stablecoin-backed card issuing capabilities to more than 100 markets. The partnership will allow the Singapore-based company to extend its infrastructure beyond Asia to support eligible card programmes, subject to regulatory, compliance and Visa requirements. The expanded capabilities are intended for fintechs, digital payment token (DPT) service providers, wallet operators and other businesses developing stablecoin-backed card programmes. StraitsX reported more than US$6 billion in annualised card gross transaction value (GTV) across its stablecoin-backed card programmes in Asia. The programmes allow stablecoins to support card funding and settlement while customers pay through Visa’s network…

Thailand’s Finance Ministry has reportedly backed a proposed 1,000-baht (US$30) departure tax on air travellers. Finance Ministry Permanent Secretary Lavaron Sangsnit indicated that the proposal would cover both Thai and foreign travellers, according to The Nation. The ministry favours including the charge in airline ticket prices to simplify collection. The tax would initially apply to air departures, with proposed exemptions for eligible transit passengers and children under two. The Thai Hotels Association and the Association of Thai Travel Agents have opposed the proposal, citing concerns over travel costs and Thailand’s tourism competitiveness. The ministry aims to use the revenue to…

Google DeepMind and the Government Technology Agency of Singapore (GovTech) have developed an on-device AI model designed to detect scams in smartphone conversations without sending messages to the cloud. Presented at Singapore International Cyber Week (SICW 2026), the project forms part of Google’s National AI Partnership with the Singapore Government. Scams account for more than half of Singapore’s reported crimes, with losses exceeding S$4 billion since 2019. Scammers have increasingly turned to social engineering, using convincing conversations to manipulate victims into transferring money. Such tactics now account for up to 80% of scam losses, according to Google DeepMind. How the…

SEON is bringing its fraud prevention tools to Yuno’s global payments platform through a new partnership. The agreement gives Yuno customers access to SEON’s fraud detection and identity verification capabilities without requiring a separate integration. Yuno connects businesses to more than 1,000 payment methods across 190 countries through a single integration. Its platform allows customers to choose their preferred fraud and risk management providers. While businesses can manage international payments through a single platform, fraud prevention often remains fragmented across markets and providers. SEON uses more than 1,100 real-time data signals, including digital footprints, device intelligence and behavioural information, to…

DBS Group Research has released a report examining how organisations can turn AI into measurable results as the technology becomes more widely available. The report, Intentional AI: Connecting Intelligence, Capital and Outcomes, argues that access to advanced AI capabilities alone will become a less sustainable competitive advantage. Instead, organisations will increasingly stand out through the problems they address and their ability to translate AI capabilities into practical outcomes. While the first wave of AI development focused on technological capabilities, DBS Research expects the next phase to place greater emphasis on real-world applications. Asia leads in industrial robotics despite receiving less…

Thailand-based Salary Hero has raised US$7.6 million in Series A funding as the earned wage access (EWA) provider expands into Malaysia. Cento Ventures led the round, with participation from Malaysia-based Kairous Capital and M Venture Partners. The company has also expanded its credit facility with regional lenders to US$10 million to support its on-demand pay services. Salary Hero began operations in Malaysia in the second quarter of 2026 and has established a local team to develop corporate and distribution partnerships. It aims to work with 50 corporate partners by the end of 2027. “We started Salary Hero because the financial…

Mastercard is expanding The Mastercard Collection: Dining to approximately 1,300 restaurants across 15 Asia Pacific markets, offering eligible cardholders restaurant reservations and discounts of up to US$200. Around 650 restaurants currently participate, with Mastercard expecting to reach 1,300 by 1 February 2027. The programme covers Australia, the Chinese Mainland, Hong Kong SAR, India, Indonesia, Japan, Macao, Malaysia, New Zealand, the Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam. The expansion builds on The Mastercard Collection: Dining, which covered more than 400 restaurants across 10 markets in March 2026. Dining benefits vary by Mastercard tier World Legend Mastercard cardholders can receive…

FIS has launched an agentic AI suite to help finance teams forecast cash flow, identify risks and manage liquidity. The FIS Agentic Insights Suite combines financial data from multiple systems to support collections, credit and treasury operations. Its new forecasting module uses machine learning and simulations to project cash positions across different time periods and assess how delayed payments or increased outflows could affect liquidity. The suite draws on internal financial systems, external credit bureau information and public data to assess credit risk, business health and ESG factors in real time. It also reconciles data across systems, provides real-time account…

AI could leave young workers with fewer opportunities to learn on the job, Singapore Prime Minister Lawrence Wong warned. He raised the concern during a dialogue with DBS Group CEO Tan Su Shan at the DBS Asia Future Forward Conference on 12 October. Wong said that while AI can improve productivity, it could also replace routine tasks that help new employees develop their skills and judgement. These include drafting speeches, taking meeting minutes and preparing presentations. “And AI will replace all of that routine work but we should be careful not to automate away the learning that comes from it,”…

Gate has partnered with Visa to introduce a crypto-linked payment card across more than 40 markets. The card will allow eligible users to spend digital assets held in their Gate accounts online and in stores wherever Visa is accepted. When cardholders make payments, Gate will automatically convert the relevant cryptocurrencies into fiat currency at the point of sale. Users will also be able to apply for and manage the card through the Gate app. Gate has not announced a specific launch date or published a complete list of supported markets. The company said eligibility requirements, supported assets and service availability…

The Monetary Authority of Singapore (MAS) will expect financial institutions to hold public prospecting activities, such as roadshows, only within designated areas at commercial premises. The regulator announced the enhanced safeguards after a public consultation, citing concerns that poorly conducted prospecting can subject consumers to unsolicited or persistent solicitation. Financial institutions will be expected to appoint suitably qualified individuals to oversee their representatives’ conduct at these events. At the start of any engagement, MAS expects representatives to tell consumers clearly that they intend to market financial products or services, and to obtain their consent before going further. Street canvassing and…

Hotel booking phishing scams have cost victims in Singapore at least S$185,000 since January 2026. The Singapore Police Force reported at least 148 cases, warning of a surge in scams involving hotels and booking platforms. Victims typically receive WhatsApp messages or emails from fraudsters impersonating these businesses, asking them to verify their card details or confirm upcoming reservations. Some messages contain genuine booking information, making the requests appear legitimate. Victims are then directed to phishing websites and assured that no money will be deducted when they provide their card information to secure their reservations. They subsequently authorise transactions and often…

DBS CEO Tan Su Shan said financial markets are reassessing the risks associated with AI investments, a shift that could bring greater discipline to AI financing. Speaking to Bloomberg Television on 12 October, Tan said investors are demanding higher returns and examining financing structures more closely. “The market has spoken,” she said. “It’s not a bad thing because now, people are asking for higher returns, and people are also looking at structures.” According to Tan, investors want assurance that spending on AI infrastructure will generate sufficient long-term returns to repay lenders and bondholders while providing returns to equity investors. She…

The Monetary Authority of Singapore (MAS) plans to use wholesale central bank digital currency (CBDC) to settle tokenised MAS Bills. MAS Managing Director Chia Der Jiun outlined the plans at the INSEAD Digital Finance & Agentic AI Summit on 9 October. The initiative aims to bring tokenised assets and digital central bank money onto common infrastructure to support settlement finality. MAS made wholesale Singapore dollar CBDC available through its Singapore dollar Test Network in 2025. Its first successful trial involved the settlement of interbank overnight lending transactions between DBS, OCBC and UOB. “As usage of private digital money scales, CBDCs will…

Syfe has launched Income+ Max, a multi-asset income portfolio developed with J.P. Morgan Asset Management and two other ETF managers. The strategy uses options on equities and gold to target annual payouts of 8% to 10%, although distributions are not guaranteed. The digital wealth platform, which manages over S$20 billion in assets across APAC, aims to address equity concentration and market volatility through diversified income sources. How Income+ Max generates income The portfolio generates income from equity dividends, bond coupons and premiums collected by selling call options on equities and gold. Option premiums generally increase during periods of heightened market…