Posts From Fintech News Singapore
MAS: Risk of Artificial Intelligence “Herding” Traders Still Low in Singapore
The risk of “herding” in trading platforms due to the use of AI models is still low as financial institutions (FIs) in Singapore are still at a nascent stage of using AI models for decision-making, says the Monetary Authority of
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Global Fintech Funding Falls to Six-Year Low
Global fintech funding hit its lowest level since 2017, totaling US$7.8 billion in Q2 2023 through 845 rounds, new data released by market intelligence platform CB Insights show. The figures reveal a deteriorating fintech funding environment amid the global economic
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B2B Transactions Represent a US$ 22 Trillion Opportunity for Cross Border Payments
Remittance transfer providers have embraced digitalization to help alleviate many of the pain-points of the industry and enhance the convenience, speed, security, and affordability of sending and receiving from abroad. Now, these companies are expanding to offer business-to-business (B2B) payments,
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MAS Greenlights Finmo for Full Payment License
Payments company Finmo has secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS) just 4 months after it received the in-principle approval in March this year. This license marks Finmo’s official entry into the Singapore
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New Startup Map Showcases Thailand’s Growing Fintech Startup Ecosystem
Despite being somewhat of a laggard compared with the likes of Indonesia and Singapore, Thailand’s fintech industry is developing well and featuring today some 107 startups, a new startup map released by the Fintech News Network shows. The Fintech Thailand
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10X Banking Set to Expand Footprint in APAC Region
Cloud-native core banking platform 10x Banking announced its APAC expansion plans fueled by its study revealing that a third of banks in key markets across the globe are losing large numbers of their customer base to rivals due to slow
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How to Embrace the Connected Payments Era: A Guide for Businesses by Nuvei
The year 2023 marks the arrival of the connected payments era. This period is characterised by the emergence of innovative payment types, cutting-edge payment infrastructure, and innovative business models. Consumer expectations are also shifting. Today’s savvy consumer is looking for
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SCB and Thai Central Bank Pilots Retail CBDC App
Siam Commercial Bank (SCB) and the Bank of Thailand (BOT) have developed an app as part of a retail Central Bank Digital Currency (CBDC) pilot project. The pilot programme is limited to a select group of whitelisted participants who will
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Validus Names Vineet Agarwal as New Singapore CEO
Southeast Asian SME financing platform Validus announced that it had named Vineet Agarwal as CEO of Validus Capital in Singapore, effective 1 August 2023. He succeeds Jayanta Roy who is retiring. Vineet joined Validus in January 2022, where he led
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Singapore Aims to Phase Out Corporate Cheques by End of 2025
All corporate cheques will be phased out in Singapore by the end of 2025 amid the steady decline in use and the rising processing cost as well as growing adoption of e-payments. Individuals will still be able to use cheques
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