Trust Bank Singapore has appointed Alexander Pariyskiy as Chief Strategy Officer & Chief of Staff. The bank has also promoted Naveen Sethia to Chief Customer Officer. These changes come as founding team member Nick Woodruff leaves the bank after five years. Pariyskiy joins from McKinsey & Company Singapore, where he spent over seven years advising banks, fintechs, and payments firms across Southeast Asia on strategy and digital transformation. In a LinkedIn post, he said: “Many of the digital banks around the globe we talk about today either didn’t exist yet or were just getting started. Fast forward to today, and…
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Singapore-based fintech Aspire has entered a strategic collaboration with J.P. Morgan Payments to improve foreign exchange (FX) efficiency and wallet-based fund conversion for clients operating internationally. For businesses working across borders, inefficient currency conversion can lead to delayed payments, unpredictable costs, and missed opportunities. Under the collaboration, J.P. Morgan Payments will act as a primary FX provider to Aspire, enhancing pricing, corridor access, and infrastructure resilience across markets. The first phase focuses on FX-to-wallet conversion in multiple currencies, including SGD, USD, GBP, EUR, and HKD. Aspire customers can now convert and manage funds within their wallets with institutional-grade infrastructure supporting…
The Monetary Authority of Singapore (MAS) is working with the Association of Banks in Singapore and member banks to strengthen safeguards for GIRO transactions. Alvin Tan, Minister of State for Trade and Industry and Board Member of MAS, announced the review in response to Parliamentary Questions regarding the security of automated payments. The review will evaluate several new measures, including options for customers to set monthly limits on both the total value and the frequency of deductions. Additionally, the industry is exploring more robust transaction monitoring and stricter due diligence requirements for billing organisations. MAS is also considering various suggestions…
Bengaluru-based digital lending startup Kreditbee has raised US$280 million, bringing its post-money valuation to US$1.5 billion. The round comprises US$220 million in primary capital for the company and US$60 million in secondary capital for existing investors selling shares. The funding was led by Hornbill Capital, Japanese bank MUFG-backed Dragon Funds, and Indian private equity firm Motilal Oswal Alternates, with participation from WhiteOak Capital, A.P. Moller Holding, and existing investors including Premji Invest and Advent International, The Economic Times reported. “This is our last private round before our planned public listing. We are hopeful that in the next two to three…
Grab introduced a range of AI-driven features at its GrabX product showcase, highlighting fintech offerings that expand financial access and streamline payments for consumers and merchants across Southeast Asia. Cash Loan Cash Loan is designed to provide consumer credit to users who do not have access to traditional banking services. While Grab previously extended financing to driver- and merchant-partners using on-platform earnings data, Cash Loan takes a different approach for consumers. It uses multiple behavioural signals, including ride frequency, GrabFood spend, and length of platform usage, to build an eligibility score. Grab offers loans only to pre-approved users, who complete…
Why do so many AI pilots fail in banking even when the technology itself works? In this episode, Vincent Fong, Fintech News Network, speaks with Cynthia Siantar, Head of Investor Relations and General Manager for Singapore at DynaAI, about why banks often struggle to move from AI experimentation to real execution. The conversation explores: why AI pilots get stuck inside large organisations the build vs buy dilemma facing banks what separates banks that get measurable ROI from those that do not how one collections use case created a clear business case for AI where agentic AI and internal copilots may…
Finastra has partnered with Marketnode to automate credit agreement onboarding for corporate lenders through its Loan IQ platform. The partnership integrates Marketnode’s document automation technology with Finastra’s Loan IQ Nexus Build module. This gives financial institutions a more efficient way to extract data from credit documents and map it into Loan IQ. The move targets a process that has long depended on manual data entry and fragmented workflows, which can slow deal setup and increase operational risk. Marketnode’s technology uses large language models, optical character recognition and machine learning to read structured and unstructured data in credit documentation. The extracted…
Circle has expanded access to third-party stablecoin payouts for partners using Circle Mint Singapore. The rollout gives Singapore-based partners access to Circle’s Payouts API, extending the service beyond its U.S.-based entity. Payment service providers, fintech firms, financial institutions and enterprises can now manage third-party payouts through their local Circle Mint setup. The API supports end-to-end payout workflows, helping firms automate manual processes, reduce errors and improve visibility over payout flows. The launch also gives Singapore-based firms a local route to scale payout use cases in line with Travel Rule requirements and other regulatory expectations, offering a more compliant option for…
Singapore-based fintech Aspire has officially launched in the United States, expanding its cross-border financial platform to businesses operating across multiple markets. The company serves more than 50,000 businesses and offers multi-currency accounts, foreign exchange, yield, payroll infrastructure, spend management and real-time financial controls through a single platform. Its platform also integrates cards, credit, accounting and payroll tools across 16 currencies. As part of the rollout, Aspire is entering the market with technology and financial infrastructure partners including Stripe. “We’ve seen Aspire’s incredible velocity in Asia, and bringing that same innovation to the U.S. is a massive win for founders everywhere.…
Thai travellers can now use KASIKORNBANK’s Q Wallet to pay merchants in Singapore by scanning GrabPay QR codes. The service allows users to make payments through the Q Wallet by KBank app without exchanging cash or opening a bank account overseas. KBank is rolling out the service in collaboration with StraitsX and Grab. Payments are accepted through Grab’s merchant network in Singapore. Under the arrangement, Q-money, KBank’s blockchain-based e-money, is used as the settlement medium. The system runs on Quarix, a blockchain platform developed by Orbix Technology & Innovation, a company under KASIKORNBANK FINANCIAL CONGLOMORATE. The project is operating under…
Mastercard has gone live with authenticated agentic transactions in Singapore and Malaysia and plans to open a regional AI Centre of Excellence in Singapore later this year. The rollout marks the first wave of Mastercard’s AI-initiated payments effort in the region, with more ASEAN markets set to follow. Later this year, Mastercard’s Singapore AI Centre of Excellence will bring together its innovation, cybersecurity and AI capabilities and serve as its largest innovation space in APAC. The centre will support broader work in payments, fraud detection, cybersecurity and real-time risk management. Mastercard worked with UOB on the initial region-wide testing and…
FOXAI and Axe Finance announced a strategic partnership aimed at accelerating digital transformation across the banking and lending sectors in Vietnam and Laos. This collaboration combines advanced AI-driven innovation with globally recognised end-to-end lending technology to empower banks and credit institutions with scalable, cost-efficient digital solutions. The primary objective of the partnership is to deliver professional digital transformation solutions that minimise costs and maximise operational efficiency for banks and financial institutions. By integrating FOXAI’s digital transformation and technology transfer expertise with Axe Finance’s modular lending platform, Axe Credit Portal, the two organisations will provide practical, implementation-ready solutions tailored specifically for…
Binance is facing fresh turnover in its compliance ranks, with Bloomberg reporting departures from teams covering sanctions, investigations and financial crime monitoring. According to the report, Chief Compliance Officer Noah Perlman has discussed leaving the company sometime this year or next. Binance said no departure date has been set, no successor has been named and Perlman remains in the role. Peter Van Logtenstein, Inga Petrauskaitė, Erin Fracolli, Jarek Jakubcek and Alex Côté were also listed among the recent exits, which Binance described as routine turnover and performance-related departures. Perlman joined Binance in 2023 to run sanctions enforcement, financial crime monitoring…
MyRepublic, a telecoms service provider, has introduced a managed email security offering aimed at helping Singapore SMEs guard against phishing, malware and business email compromise. The MyRepublic Email Guard service was developed for smaller businesses that may lack the cybersecurity resources and dedicated IT teams of larger firms. In Singapore, SMEs account for 99 percent of enterprises and employ nearly 70 percent of the workforce. Powered by Check Point’s email threat protection technology, MyRepublic Email Guard is designed to detect and block malicious emails before they reach users’ inboxes. It supports platforms including Microsoft 365 and Google Workspace. The service…
Microsoft is on track to spend US$5.5 billion in Singapore from 2025 to the end of 2029 on cloud and AI infrastructure and ongoing operations. Alongside the investment, every tertiary student in Singapore can access 12 months of Microsoft 365 Premium with Copilot at no cost. The offer covers more than 200,000 students across universities and vocational institutions and includes tools such as Outlook, Word, Excel, PowerPoint and OneNote. Eligible students can sign up using a valid tertiary email address. Microsoft is also expanding Microsoft Elevate for Educators to Singapore to provide free training for teachers on using AI responsibly…
Vessels seeking passage through the Strait of Hormuz are reportedly being asked to pay tolls in yuan or stablecoins before being escorted through the waterway, according to Bloomberg. Access is also said to depend on whether Iran considers the vessel’s country to be friendly. According to the report, ship operators must provide details including ownership, flag, cargo, destination, crew information and AIS tracking data to an intermediary linked to Iran’s Islamic Revolutionary Guard Corps. If a vessel clears those checks, toll negotiations begin, with oil tankers facing a reported starting rate of around US$1 per barrel. Bloomberg said the fees…
Ripple has launched new treasury tools that let finance teams manage fiat and digital asset liquidity in one system. The company has added Digital Asset Accounts and Unified Treasury to Ripple Treasury, which it said is the first treasury management system with native digital asset capabilities. The tools allow treasury teams to view, hold, receive and manage fiat and digital assets across bank and custody providers through a single platform. Digital Asset Accounts allow users to create and manage a regulated Ripple-native digital asset account within the platform. Balances including XRP and Ripple USD, or RLUSD, can sit alongside cash…
Franklin Templeton plans to acquire 250 Digital and launch a new unit called Franklin Crypto. The deal would bring in the 250 Digital investment team and all liquid cryptocurrency strategies previously run by CoinFund. Franklin Templeton will also invest in those strategies as part of the agreement. After the acquisition closes, Christopher Perkins will head Franklin Crypto and Seth Ginns will serve as Chief Investment Officer, working alongside Franklin Templeton Digital Assets investment veteran Tony Pecore. The unit will report to Sandy Kaul, Head of Innovation at Franklin Templeton. “This is an exciting addition for Franklin Templeton, and we’re pleased…
Entrust has officially announced on LinkedIn the transition of Tony Ball from incoming Chief Executive Officer to the official CEO role. Ball brings decades of tech and smart card industry experience to his new leadership position at Entrust. His extensive background includes several senior roles at Gemalto between 2004 and 2007, where he served as Managing Director for the UK and Scandinavia, Vice President for Western Europe, and eventually Senior Vice President for Northern Europe. Prior to that, he spent several years in leadership at Schlumberger Technologies. During that time, he held positions such as Director of Manufacturing and Vice…
Western Union has completed its acquisition of Singapore-based digital wallet Dash from Singtel after receiving all required regulatory approvals. The deal gives Western Union its first wallet in Asia Pacific and adds Dash’s Singapore platform to its global network, which spans more than 200 countries and territories. Dash, operated by Singcash, was launched in 2014 and has grown to more than 1.4 million users. The wallet allows users to pay bills, send money overseas, and access services such as savings, investments and insurance. It is available to users regardless of their telco or banking provider. Vince Tallent, Head of Asia…