Thredd has announced the launch of One View, a fraud detection solution developed in partnership with Featurespace, a Visa company specialising in financial crime detection. The new system enables both card and non-card payments to be monitored under a single, network-agnostic interface and rules engine to enhance fraud detection efficiency. One View consolidates card and non-card payment data, including account-to-account (A2A) and person-to-person (P2P) transactions, into one interface. This provides a more comprehensive view of customer behaviour, allowing for more effective fraud detection while reducing operational workloads. The companies said the solution removes the need for fraud analysts to work…
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HSBC has expanded its Tokenised Deposit Service (TDS) to Singapore, marking the first cross-border use of its blockchain-based treasury solution following its initial launch in Hong Kong. The service enables 24/7 instant settlement and was first adopted by Ant International, which became the first client to complete real-time SGD and USD digital token payments between its entities’ corporate wallets held with HSBC Singapore. In September, HSBC also processed its first USD cross-border digital token transaction between Ant International’s entities in Hong Kong and Singapore. Lewis Sun, Global Head of Domestic and Emerging Payments, Global Payments Solutions, HSBC said, “This is…
Visa-free access to destinations such as Malaysia, Singapore, South Korea, and Thailand helped boost spending by Chinese tourists, according to Weixin’s latest National Day and Mid-Autumn Festival report. Weixin Pay’s cross-border transactions rose 21 percent year-on-year during the first five days of October, reflecting strong outbound travel demand. Transportation bookings made through Weixin Mini Programs increased 2.5 times, driven by platforms such as Uber, Grab, and DiDi, as well as rail services like Korail in Korea and Frecciarossa and Italo in Italy. Hong Kong and Macao remained the top destinations for mainland tourists, recording the highest cross-border payment volumes. Ride-hailing…
DCS has closed its largest asset-backed private securitisation facility to date, upsized to S$450 million, with senior notes rated AAA(sf) by Fitch and assigned a Stable Outlook. The top-tier rating, rare in the credit card industry, reflects the quality of DCS’ receivables portfolio, marked by low charge-offs, strong repayment behaviour, sound governance, and a paid-up capital base of S$75 million. The transaction was fully placed across all tranches, attracting both local and international investors. Senior note investors included Manulife, DBS, and Santander CIB, while Apollo, PIMCO, and a North American pension fund subscribed to the subordinated notes. DBS acted as…
Fireblocks is set to power Moomoo Singapore’s push into digital assets, enabling the trading platform to roll out faster and more secure crypto services by the end of 2025. The partnership will see Moomoo integrate Fireblocks’ Wallets-as-a-Service (WaaS) infrastructure to strengthen the scalability, reliability, and security of its digital asset offerings. By connecting to the Fireblocks Network, Moomoo Singapore will gain access to more than 2,400 exchanges, fintech firms, banks, payment service providers, and liquidity partners. This connection will give the platform access to broader liquidity and improve transaction efficiency amid growing competition in the digital asset market. As digital…
Alipay+ is expanding its global network to connect merchants with 1.8 billion consumers as more tourists pay through their home wallet apps abroad. Operated by Ant International, the platform now covers more than 100 countries and regions and supports 40 partner wallets and banking apps, including new partners Bluecode in Europe, PayPay in Japan, and KBank in Thailand. In the first half of 2025, over 6.5 million people used Alipay+ for cross-border payments for the first time, reflecting the growing shift toward mobile-based travel spending. Transactions across online travel agents and in-store merchants rose by more than 30 percent compared…
Singapore-based equity management platform Qapita has raised US$26.5 million in Series B funding led by Charles Schwab Corporation. The investment is part of a broader partnership that will see Qapita power Schwab’s new Private Issuer Equity Services platform, designed to help late-stage private companies manage equity and employee stock plans ahead of IPOs. Existing investors Citi and MassMutual Ventures also joined the round. The funding marks Qapita’s entry into the U.S. market, where it will support Schwab in offering a unified solution for private firms to automate equity management and ease their transition to public markets. Qapita said it plans…
Razorpay has launched what it says is India’s first RBI-compliant biometric-ready Access Control Server (ACS) for card authentication, developed in partnership with YES Bank. The solution replaces one-time passwords (OTPs) with fingerprint and face ID verification for online card payments. The launch follows the Reserve Bank of India’s September 2025 circular mandating stronger two-factor authentication for domestic digital transactions. Under the framework, banks are fully liable for losses if safeguards fail, driving a shift from OTP-only methods to more secure options such as device tokens and biometrics. Razorpay’s ACS uses device tokenization and passkey standards to enable biometric verification and…
India’s PhonePe has announced a collaboration with Mastercard to introduce a Device Tokenisation solution, revealed at the Global Fintech Fest (GFF) 2025. The initiative integrates Mastercard’s network tokenisation technology into PhonePe PG’s merchant platform, enhancing secure payment options for online businesses. ixigo, India’s AI-powered travel platform and exclusive partner for flight, bus, and train bookings on PhonePe, has already adopted the solution to enable faster and more secure card payments across its apps. The new system allows customers to save their card once on the PhonePe app and use it securely across participating online merchants. This “save once, use everywhere”…
Walk through a busy mall in Manila, Kuala Lumpur or Bangkok and you’ll notice something. People aren’t fumbling for cash or cards anymore. They’re scanning QR codes, paying with wallets, or tapping through apps that have quietly become part of daily life. This shift is happening faster than many outside of the Asia Pacific region could realise. APAC is expected to exceed 1.2 trillion non-cash transactions by 2027, and in the same year, Worldpay indicate that digital wallets are projected to capture nearly half of global e-commerce and POS transaction value. It’s not hard to see why. Consumers in this…
Singapore’s embrace of AI in financial compliance has outpaced the world, but high client loss rates show that technology alone has yet to fix onboarding pain points. Fenergo’s 2025 Financial Crime Industry Trends Report found that 70 percent of financial institutions globally lost clients in the past year due to slow onboarding, the highest level to date. Singapore topped the list, with 76 percent of its financial institutions reporting client losses from inefficient onboarding, down from 87 percent in 2024. The study, based on a survey of 600 senior decision-makers across banks, asset managers, and fund administrators in Singapore, the…
Everywhere you look today, identity is the real currency. Whether you’re opening a bank account or applying for government services, the same question comes back again and again. Who are you, and how can anyone be sure? That question has grown far beyond the teller’s counter. It now runs through the veins of the global economy, shaping how governments roll out digital services and how banks try to balance security with convenience. Digital identity has not-so-quietly become the infrastructure for growth, trust, and even inclusion. The Push to Make Identity Digital Fabrice Jogand-Coulomb, who is the Vice President of Mobile…
Singapore’s Trust Bank has launched a new savings product, the Flex savings plan, which allows customers to decide how they earn bonus interest. Under the plan, customers can choose any three bonus interest categories from a menu of eight, depending on their lifestyle and financial habits such as spending, saving, or investing. Described by the bank as the first of its kind in Singapore, the Flex plan offers up to 2.5% per annum on deposits of up to S$1.2 million. Customers can adjust their selected categories anytime through the Trust app, with changes taking effect from the first day of…
Fraud and scams are on the rise in Southeast Asia, from job scams and forced scam centers to deepfake impersonations and multimillion-dollar corporate fraud. In this episode of Banking After Hours, I’m joined by Julius Rajeswaran, COO of Ryt Bank, and Tai Vo, Director of Market Planning, Fraud & Identity, APAC at LexisNexis Risk Solutions, to explore: Why Southeast Asia is a hotbed for scams How digital banks like Ryt Bank are rethinking fraud prevention The role of AI, behavioral data, and consortium-level intelligence Best practices from leading banks across the region
Banking Circle has partnered with EbixCash World Money to simplify and accelerate international money transfers for Indian students and travellers. Under the collaboration, EbixCash, an AD-II licensed foreign exchange and remittance provider, will use Banking Circle’s infrastructure to deliver faster and more transparent cross-border transactions. The partnership aims to drive efficient and fully compliant international payments, offering real-time tracking, lower charges, and faster settlements. The integration will also lay the groundwork for scalable cross-border payout capabilities for small businesses and corporate clients, subject to regulatory approval. Through Banking Circle’s local clearing infrastructure, EbixCash will be able to settle transactions directly…
At least 13 scam cases have been reported since September 2025, with victims losing a total of S$362,000 to date, according to the Singapore Police Force. The scams involved callers posing as staff from telecommunications company M1 Limited and the Monetary Authority of Singapore (MAS). Victims received unsolicited calls, including through WhatsApp, from individuals claiming to be from M1 who alleged that they had mobile plans with unpaid bills or pending phone deliveries. When victims denied having such accounts, they were told to contact “customer service” on WhatsApp to cancel the plan. They were then connected to someone impersonating a…
Funding Asia Group, the parent company of regional digital lender Funding Societies, narrowed its losses in 2024, supported by stronger revenue growth and tighter cost controls. The figures, disclosed in filings with Singapore’s Accounting and Corporate Regulatory Authority (ACRA) accessed by DealStreetAsia, show a clear improvement in the group’s financial performance. The Singapore-based fintech, known as Modalku in Indonesia and Malaysia, reported a net loss of US$39.3 million for 2024, down from US$48.5 million in 2023. Revenue rose 11 percent to US$54.3 million, driven by higher lending volumes and expansion across its payments business. Although finance and payment processing expenses…
OCBC is giving its mortgage specialists a new career path, turning them into wealth advisers through an intensive four-month training programme designed to bridge home financing and financial planning, according to The Business Times. The initiative aims to expand the scope of mortgage specialists, who traditionally handle only home loans, by equipping them to advise customers on investment and insurance products. OCBC said this will enable a more holistic approach to financial guidance and strengthen long-term customer relationships. Fifteen senior mortgage specialists have been selected so far, with the first group of nine graduating on 1 October. The inaugural batch…
Global payments infrastructure company TerraPay has launched stablecoin-native payment flows with Fipto after a year of testing that showed faster settlement times and reduced working capital pressure. During the pilot, TerraPay used what it called a “stablecoin sandwich” model, converting fiat to stablecoins for the cross-border leg and back to local currency on arrival. The model helped benchmark settlement times and FX pricing against traditional rails, reducing transit time and easing liquidity pressure. The partnership enables clients to fund payout partners directly in stablecoins, where permitted by regulators, and allows recipients to receive them in supported markets. Fipto, a regulated…
MA Financial, an Australian-based alternative asset manager, has announced that a selection of its flagship and specialist investment strategies has been added to Allfunds, a Spain-based B2B wealthtech platform with over €1.6 trillion (approximately SG$2.4 trillion) in assets under administration. The move forms part of MA Financial’s strategy to broaden access to its Australian private credit offerings across Asia. The inclusion of MA Financial’s funds on the Allfunds platform reflects growing investor interest in alternative assets such as private credit and real estate debt. Through the platform, distributors in more than 65 countries, including Singapore and Hong Kong, can now…