Amazon plans to invest AU$20 billion in Australia between 2025 and 2029 to expand, operate, and maintain its cloud infrastructure through Amazon Web Services (AWS). The company says this is the largest publicly-announced tech investment in Australia to date. The investment is aimed at meeting rising demand for cloud computing and artificial intelligence services and supporting national efforts to strengthen AI capability. It will enhance AWS infrastructure across the country, building on earlier expansions such as the launch of the AWS Asia Pacific (Melbourne) Region in 2023 and a high-security cloud partnership with the Australian Government announced in July 2024.…
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KuCoin has launched its crypto exchange in Thailand, marking the debut of its first locally licensed platform under the KuCoin brand. The platform is licensed by Thailand’s Securities and Exchange Commission and is now available to all eligible users after an initial invite-only phase. The exchange integrates KuCoin’s global technology, adapted to meet the needs and preferences of Thai users. It supports Thai Baht on-ramp and off-ramp options and complies with international security standards, backed by KuCoin’s SOC 2 Type II and ISO 27001 certifications. Thailand remains one of Southeast Asia’s fastest-growing markets for digital assets, supported by progressive regulations…
Summit, the fintech firm previously known as Spenmo, has laid off 24 employees out of its 64-person team across Singapore, Indonesia and India. The job cuts, which impacted staff across all departments, were first reported by Tech in Asia and confirmed by a retrenched employee. Staff were notified of the layoffs through an internal email sent on Wednesday. In the message, Summit’s executive team explained that the decision followed a reassessment of the company’s business direction and the need to streamline operations. Summit CEO and Chief Product Officer Jo-Ann Chung said in a statement to Tech in Asia that the…
Global analytics software firm FICO has been named a leader in The Forrester Wave: AI Decisioning Platforms, Q2 2025 report. The company’s FICO Platform received the highest score in the Current Offering category and achieved top marks across 13 evaluation criteria. According to Forrester, AI decisioning platforms “transform how organisations operationalise both human intelligence and AI at scale, enabling faster, more accurate decisions across complex business processes.” The report highlights AI decisioning as a critical enabler for Agentic AI, adding that “modular architecture allows organisations to build AI decisioning agents that autonomously adapt to real-time data and maximise decision intelligence…
Once known for speed and disruption, Indonesia’s crypto industry is now facing its biggest reckoning: compliance or irrelevance. With OJK taking the regulatory reins and the Travel Rule now in force, crypto firms in Indonesia must evolve fast or risk falling behind in global markets, regulatory approval, and user trust. For these firms, it’s a call to build trust, embrace transparency, and lead with compliance as the new currency of credibility. These developments were the focus of a recent webinar, “Strengthening Your Crypto Compliance Program: Addressing AML and OJK Requirements,” part of the Indonesia Crypto Literacy Program. The session, hosted…
Fraud in Asia Pacific’s fintech and healthtech industries has risen sharply over the past year, according to new data from global verification provider Sumsub. The report highlights that fintech recorded a 116 percent year-on-year increase in fraud cases during the first quarter of 2025, while healthtech saw an even steeper rise of 723 percent—the highest across industries in the region. Sumsub attributes the growing threat to the widespread use of AI-driven tools, including deepfakes and synthetic identity documents, which are being used to bypass digital verification processes. Deepfake-related fraud has expanded beyond impersonation and election interference to include AI-generated job…
It’s been one year since Boost Bank launched in Malaysia — so what have they achieved, and where are they headed next? In this milestone interview, Boost Bank CEO Fozia Amanulla joins Fintech News Network’s Chief Editor Vincent Fong to reflect on their journey so far: from hitting RM700 million in deposits and launching RM160 million in SME loans, to onboarding unbanked Malaysians through embedded banking
CPF Life payouts can now be used as proof of income when applying for credit cards at DBS and OCBC, with UOB expected to adopt the same policy soon, The Straits Times reported. From 11 June, Singaporeans and permanent residents aged 65 and above can use their monthly CPF Life payouts to apply for credit cards at DBS and OCBC. UOB has confirmed plans to adopt the change but has not given a specific timeline. The update formalises what was previously a discretionary practice among banks. DBS said the move aims to increase transparency and ensure seniors have continued access…
Mizuho Financial Group is close to acquiring a controlling stake in Indian investment bank Avendus Capital, Bloomberg reported, citing people familiar with the matter. The transaction, which could be finalised within weeks, would value Avendus at approximately US$800 million including debt. Mizuho is expected to purchase KKR & Co’s 63% stake and may acquire additional shares from minority holders to raise its ownership to around 70%, according to the sources. This move comes as Japanese banks continue to deepen their presence in India’s financial sector. Last month, Sumitomo Mitsui Financial Group agreed to acquire a 20% stake in Yes Bank…
Global payments infrastructure company TerraPay has entered into a partnership with smart payment provider Whalet to support more efficient cross-border payouts for SMEs, particularly those operating in the Asia Pacific region. The collaboration will allow Whalet to enhance its payout capabilities by integrating TerraPay’s global payment network, which spans multiple regions. This is expected to help streamline international transactions for cross-border sellers, reducing settlement times and easing compliance requirements. Whalet currently provides services such as one-click store setup, global accounts, pay-ins, payouts, currency exchange, and card issuance for businesses expanding globally. It holds payment licenses in Singapore, the U.S., and…
Aspire has announced a new integration with Payboy, a payroll software provider serving over 70,000 users across Asia. The move makes Aspire the first fintech firm to integrate directly with Payboy, aiming to simplify payroll management for businesses in Singapore. Traditionally, payroll processing involves manually reformatting files for bank transfers, which can be time-consuming and prone to errors. A recent survey found that over half of HR professionals in Singapore spend up to six hours each week correcting payroll mistakes or clarifying records. The integration allows businesses to export payroll files from Payboy and upload them directly into Aspire, eliminating…
Australian Payments Plus (AP+) is working with payment technology firm Giesecke+Devrient (G+D) to bring eftpos and least-cost routing (LCR) to Click to Pay, marking what the companies say is a global first for online debit card payments. AP+ brings together three domestic payment providers, BPAY Group, eftpos and NPP Australia, into one integrated entity. Click to Pay provides a streamlined checkout experience that removes the need for customers to manually enter card details. The addition of eftpos means eligible transactions can be routed automatically to the lowest-cost network under LCR settings. While most Australian debit cards support both eftpos and…
Deutsche Bank and Ant International have entered a strategic partnership aimed at enhancing cross-border payment services for businesses of all sizes in Europe and Asia. The agreement combines Deutsche Bank’s global network with Ant International’s digital payment technologies. The collaboration will leverage Ant’s proprietary tokenisation capabilities and its AI-driven foreign exchange model, the Time-Series Transformer (TST) FX model, known as Falcon. Deutsche Bank will become the first German bank to connect with Ant International’s blockchain-based real-time treasury management platform, enabling real-time fund transfers between Ant’s group entities and supporting more efficient and transparent treasury operations. The two firms will also…
Grab Holdings announced a proposal to offer US$1.25 billion in convertible senior notes, signaling a move to build up its funds for potential acquisitions. The notes, due in 2030, will be offered subject to market conditions. Grab said the proceeds will be used to support general corporate needs, strategic flexibility including potential acquisitions, and share repurchases. The company emphasised that it will remain selective in pursuing deals and “maintain a high bar for such transactions”. The notes may be settled in cash, Class A Ordinary Shares, or a combination of both upon conversion. As part of the transaction, Grab also…
For a while, perpetual futures felt like an advanced feature only veteran traders messed with. Complex funding rates, 100x leverage, and liquidation risks made it seem like a space reserved for the high-stakes crowd. But somewhere between the bull runs, the bear dips, and the rise of offshore exchanges, perps went mainstream. Today, perpetual contracts aren’t just a niche product, they’re the default play for millions of crypto traders trying to ride short-term price action. On Binance, Bybit, and other major platforms, perpetuals now account for the majority of daily trading volume, outpacing spot trades by a wide margin. And…
Sumsub has introduced a significant AI-powered update to its Case Management system. This enhanced solution serves as a comprehensive hub for financial crime investigations and is designed to streamline fragmented risk operations. Developed with input from financial crime teams and Sumsub’s existing clients, the update incorporates AI tools and automation features intended to support real-time decision-making. The updated Case Management system offers a unified workspace for cross-functional teams. It brings together identity information, payment histories, risk scores, and internal audit notes into a single interface, aiming to simplify complex investigative processes. A notable addition is Summy, Sumsub’s AI assistant. Summy…
Digital corporate services provider Sleek has secured US$23 million in a Series B funding round led by Australian investment firm Ellerston Capital, with additional backing from SaaS company Money Forward. Founded in 2017, Sleek offers a suite of digital solutions, including company incorporation, accounting, payroll, and tax compliance, tailored for SMEs. The platform currently supports over 16,000 SMEs annually across Singapore, Hong Kong, the UK, and Australia. The fresh capital will be used to advance Sleek’s automation-driven technology and broaden its digital service offerings. The company also aims to deepen its footprint in Australia and the UK, while continuing to…
DBS Group Holdings has become the first listed company in Singapore to exceed a market value of US$100 billion, buoyed by a softer US dollar that magnified gains in the local stock market. According to Bloomberg, South-east Asia’s largest bank rose as much as 0.9% during Monday’s (June 9) trading session, bringing its market capitalisation to S$129.2 billion. This extends its year-to-date gains to over 4%. The rise in DBS’s share price, when measured in US dollar terms, was largely driven by a weakening greenback. So far in 2025, the Singapore dollar has appreciated approximately 6% against the US dollar.…
Core banking software provider Oradian has entered the Indonesian market and joined the Indonesian Fintech Association (AFTECH) as its first international member. The move marks a strategic step in the company’s regional expansion and its aim to support financial institutions in Southeast Asia’s largest economy. Indonesia’s fintech sector continues to grow rapidly, driven by strong digital adoption and government support for financial inclusion. According to 2024 data from Research and Markets, more than 74 percent of Indonesia’s population remains unbanked or underbanked, while 80 percent own a smartphone and over 212 million access the internet via mobile phones. Oradian sees…
Atome has secured a US$75 million asset-backed financing facility from Lending Ark to support its lending operations in the Philippines. The funding is aimed at improving access to credit in the country and comes amid growing demand for mobile-first financial solutions. The facility was arranged through the Lending Ark Asia Secured Private Debt Fund, which is advised by CITIC Securities CLSA Capital Partners. Atome, part of Advance Intelligence Group, operates as a buy now pay later provider in Southeast Asia. Its local operations focus on offering credit products to Filipino consumers, with an emphasis on responsible lending. The announcement follows…