Asian consumers are increasingly open to using artificial intelligence (AI) in customer service to achieve faster, more accurate, and more consistent support, according to a new study by Genesys Cloud Services. At the same time, they continue to value and request human interaction, indicating that empathy and emotional intelligence remain essential to positive customer experiences (CX). The survey, which polled 1,400 consumers across seven Asian markets in October, found that AI usage is high in Asia, with most consumers having already used the technology. According all markets surveyed, more than 70% of respondents had used a chatbot or a virtual…
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Embed Financial Group Cayman Holdings (EFGH), a Singapore-headquartered Finternet infrastructure firm operating across emerging markets in Africa and Asia, today announced that it has entered into a definitive Business Combination Agreement (BCA) with WinVest, a publicly listed special purpose acquisition company. The proposed transaction values EFGH at a pro forma enterprise value of approximately US$425 million. Upon completion of the business combination, WinVest Holdings, a newly formed Cayman Islands holding entity that is expected to be renamed Embed Financial Global Holdings (Pubco), will become the parent company of the combined organisation. EFGH develops digital infrastructure for the emerging “Finternet”, enabling…
Nexus Venture Partners (Nexus), a Silicon Valley venture capital firm investing in early-stage startups in the US and India, has closed Nexus Ventures VIII, a US$700 million fund focused on AI, enterprise software, consumer and fintech companies at the inception, seed and Series A stages. The fund includes long-standing limited partners who have supported the firm since its early years. Founded by entrepreneurs and engineers with technical and operating experience, Nexus has built a two-decade track record as an early-stage investor. The firm has backed more than 130 companies and recorded over 30 exits, including several IPOs. Its portfolio spans…
Stripe has agreed to acquire Metronome, bringing the billing startup’s monetisation tools into its payments ecosystem. Metronome, which provides monetisation and billing software for businesses, said customers will continue to access its services after the deal closes. The company will become part of Stripe’s product suite, connecting its monetisation logic with Stripe’s payments infrastructure. Co founder and CEO Scott Woody said alignment on customer focused product development was a key consideration in joining Stripe. “As part of Stripe, our mission accelerates dramatically. Customers will continue getting world-class software, and now many more people will have access to Metronome.” Metronome said…
Thailand has seized more than US$300 million in assets connected to regional cyberscam groups, according to information reported by AFP through Channel News Asia. The action follows coordinated efforts in Asia, Europe and the United States that have targeted Cambodia’s Prince Holding Group and its associated businesses with sizeable freezes and confiscations. Prime Minister Anutin Charnvirakul said the seizures involve key figures flagged in earlier cross-border investigations. Those identified include Prince founder Chen Zhi, a Cambodian senator and two Thai nationals. Chen was indicted in the United States in October, where prosecutors allege he oversaw compounds in Cambodia where trafficked…
HSBC has appointed Brendan Nelson as Group Chair, following his tenure as interim Group Chair since 1 October 2023. Brendan joined the Board in September 2023. The appointment follows a rigorous selection process that considered both internal and external candidates. Brendan brings extensive experience in financial services. He led KPMG’s Global Financial Services Practice, advising and auditing international banks, and has held board positions at BP, RBS, and HSBC. Commenting on his appointment, Brendan Nelson said: “I am honoured to be HSBC Group Chair. I look forward to continuing to work with the Board, Georges [Georges Elhedery, HSBC CEO] and…
LexisNexis Risk Solutions has upgraded its IDVerse platform to help organisations spot deepfakes and synthetic identities more accurately. The enhanced platform strengthens document checks, biometric verification and liveness detection while reducing steps in the onboarding flow. The company said the update improves accuracy, speeds up document capture and supports a simpler verification journey. Fraud attempts are becoming more complex as generative AI is used to forge identification and attempt account takeovers. Many organisations still depend on separate tools for device assessment, behavioural analysis and identity checks, creating gaps that add cost, complexity and friction. “Fraudsters innovate with speed and precision.…
Mastercard has introduced Mastercard Credit Intelligence, a suite of analytics tools designed to help lenders assess consumers and small businesses more efficiently. The solution is available in select markets. Credit Intelligence draws on Mastercard’s network data and proprietary insights to support faster analysis, more transparent decision-making and a broader view of potential borrowers. When combined with information such as credit bureau files and telco data, the tools can help lenders form a more complete picture of applicants and tailor underwriting decisions. “A healthy digital economy is an inclusive one – and with the right insights, our trusted network and deep…
Circle Asia Technologies, Visa and Pismo have partnered to launch an AI-powered PayLater card in Vietnam. The card, scheduled for a phased rollout in early 2026, uses AI to assess risk, underwrite customers, and provide virtual credit cards with flexible installment options, allowing users to manage finances without a traditional bank account. The initiative involves a major commercial bank in Vietnam to ensure regulatory compliance and market reach. “Our mission is to deliver a seamless, rewarding and inclusive financial experience for Vietnamese consumers,” said Arnab Ghosh, Founder and CEO of Circle Asia Technologies. “Circle is fundamentally redesigning the financial experience…
Across Southeast Asia, leaders are shipping new customer experiences at record speed, yet many still run into the same wall: the core. When every change depends on vendor queues, tightly coupled code, or batch based processes, product velocity drops, compliance becomes a bottleneck, and engineering time disappears into maintenance. A better pattern is emerging among high growth institutions in the region. Move core capabilities to a modern, cloud native, API first platform that is designed for rapid change and regional compliance. This is not a rip and replace ideology. It is a pragmatic, staged approach that protects live operations while…
Banking software company Temenos has appointed Takis Spiliopoulos as its new CEO, effective immediately. He has served as the company’s Chief Financial Officer since 2019 and took on the role of Interim CEO in September 2025. He now holds the positions of CEO and interim Chief Financial Officer. The appointment follows a search process led by the board and supported by an external executive search firm, which considered both internal and external candidates. Temenos said the decision reflects the board’s assessment of his leadership experience, familiarity with the company’s long-term plans and his background in software, product development, finance and…
bolttech has acquired Kenya-based digital insurance platform mTek, strengthening its presence in East Africa and expanding its global embedded insurance capabilities. Founded in 2019, mTek offers a digital platform that lets customers in Kenya compare, purchase and manage insurance online. The company works with GA Insurance, Sanlam and Britam, and in September announced a collaboration with Mastercard to introduce embedded insurance solutions across East Africa. Its platform is designed to improve access to insurance through simple, transparent and paperless experiences. bolttech said it will integrate mTek’s technology and local market expertise into its global insurance and protection ecosystem. The acquisition…
Binance has named co-founder Yi He as co-CEO alongside Richard Teng, marking a shift to joint leadership as the exchange enters its next phase of global growth. The appointment was announced in a company blog post and follows Teng’s comments at Binance Blockchain Week, where he described the move as a natural progression given Yi’s influence since the firm’s launch. Teng said Yi has been central to Binance’s strategy, product development and community expansion. He added that her new role strengthens the leadership team as the company scales and works through regulatory requirements across markets. Yi said she looks forward…
Senior UBS banker Sarah Tsao is poised to join DBS Group in a government-linked corporations coverage role, according to individuals with knowledge of the planned hire. Bloomberg reported that Tsao is expected to oversee DBS’ relationships with key state investment institutions, including Temasek Holdings, GIC and their portfolio companies. She is slated to begin in early 2026, the sources said, noting that details of the move remain confidential. DBS said it has agreed to bring Tsao on board. UBS did not respond to queries about her departure. The transition comes shortly after Tsao was promoted to head of global banking…
Singapore’s GXS, the Grab and Singtel backed digital bank venture, is preparing to lay off staff as part of a shift in its operating model. Information reported by The Business Times indicates that the group is reducing 82 positions across its Singapore and India operations, amounting to about 10 percent of its workforce. The restructuring comes after GXS posted higher net interest income of S$30.2 million for the 2024 financial year, up from S$14.9 million the year before. Losses, however, widened slightly to S$214.3 million from S$208.2 million. The decision follows a strategic review of the bank’s organisational structure as…
Payments firm Nuvei and Microsoft have announced a major expansion of their strategic partnership, moving Nuvei’s core payment processing APIs onto Microsoft Azure. The deployment expands Nuvei’s global processing capabilities beyond the 10,000 transactions per second the platform already supports and targets 99.999 percent availability for enterprise merchants worldwide. The migration establishes an AI-driven foundation designed to support more than US$1 trillion in annual payment volume as businesses scale internationally. It reflects a multi-year effort to move all Nuvei platforms to the cloud to strengthen real-time performance, improve efficiency and deliver always-on availability. As part of this modernisation, Nuvei has…
Apple has rolled out Tap to Pay on iPhone in Singapore, allowing thousands of businesses to accept in-person contactless payments using only an iPhone. The feature is already available through partner-enabled iOS apps and works on iPhone Xs or later running the latest iOS version. Merchants can take payments from contactless credit and debit cards, Apple Pay and other digital wallets without additional hardware. Customers hold their card or device near the merchant’s iPhone to complete the transaction using NFC technology. This setup allows businesses to process payments wherever they operate. The first payment platforms supporting the feature in Singapore…
UnionPay International (UPI) and the National Payment Corporation of Vietnam (NAPAS) have launched a pilot programme for cross-border QR payments between China and Vietnam. The initiative aims to improve mobile payment options for Chinese visitors in Vietnam and strengthen links between the two countries. The pilot builds on earlier agreements. In October 2024, UPI and NAPAS signed a Memorandum of Understanding on cross-border payment cooperation. Leaders from both governments witnessed the signing. In April 2025, UPI, NAPAS, the Industrial and Commercial Bank of China (ICBC), and Vietcombank signed a four-party agreement in Hanoi. The deal confirmed their plan to introduce…
From navigating ‘irrational’ market incentives to achieving operational profitability, DANA CEO Vince Iswara breaks down the contrarian strategies behind scaling Indonesia’s leading digital wallet to 200 million users. He reveals the critical pivot from high-burn growth to sustainable unit economics and why maintaining an ‘underdog’ mindset was essential for survival.
RedotPay has partnered with Ripple to expand its stablecoin payment capabilities. Concurrently, RedotPay is launching its “Send Crypto, Receive NGN” feature and extending multi-market payouts via Ripple’s cross-border payment solution, Ripple Payments. The new feature allows verified users with local bank accounts to convert digital assets into Nigerian naira (NGN), providing faster and lower-cost payouts. “Delivering near‑instant, cost-effective NGN payouts is a significant milestone,” said Michael Gao, CEO and Co‑Founder of RedotPay. “RedotPay is building stablecoin-powered payments that make digital assets as easy to use as local currency, where users can send XRP or stablecoins securely and receive NGN within…