Despite a clear funding slowdown across global markets, India’s fintech sector continues to command significant capital, ranking as the third-highest funded fintech ecosystem globally after the United States and the United Kingdom.   While the overall funding dropped from the 2021–2022 peaks, the sector remains resilient, with a handful of dominant players consistently attracting investor attention. These frontrunners reflect both the maturity and evolving priorities of India’s digital finance landscape. Previously, I have shared on Indian fintech companies that have so far made the list into the unicorn hall of fame, as of 2025. In this article, however, I would…

Is it even a regular Tuesday if someone in Singapore hasn’t fallen for a scam? It’s starting to feel like scams are as common as bubble tea outlets in this country — they’re everywhere, always popping up in new flavours, and somehow, people just keep going back for more. From fake job offers and phoney parcel deliveries to impersonators posing as police officers (yes, actual people pretending to be cops), scams in Singapore have evolved from mildly annoying to alarmingly sophisticated. And let’s be real for a second. If some of these scammers redirected their creativity toward starting legitimate businesses,…

This Friday, March 28, 2025, marks the end of an era for DBS Bank as Piyush Gupta steps down after an extraordinary 16-year tenure as Chief Executive Officer.  His leadership has been nothing short of transformative. During his tenure, he turned DBS from a traditional lender into a globally recognised powerhouse of digital banking.   When Piyush took the reins in 2009, DBS was in dire need of a strategic overhaul. The bank was still recovering from the global financial crisis and had a reputation for being bureaucratic and risk-averse.  As he himself described it, he inherited a “stuffy bank, a…

Back in 2013, venture capitalist Aileen Lee introduced the term “unicorn” to describe the rarity of startups achieving a valuation of over USD $1 billion. A decade later, unicorns in India have become a defining symbol of the country’s booming startup ecosystem, particularly in fintech. Today, India’s fintech startups have reshaped financial services, making them more accessible, efficient, and technology-driven. India’s fintech success is backed by massive investor interest, strong government support, and a growing digital economy. Since InMobi, the country’s first unicorn in 2011, fintech has been at the heart of India’s startup growth story. Government-led initiatives like Startup…

Fintech is transforming financial services across Asia at an unprecedented pace. With rapid digital adoption, evolving regulations, and AI-driven innovations, the region is at the forefront of global fintech growth. The Asia-Pacific fintech market is projected to reach USD $171.32 billion in 2025 and surge to USD $359.83 billion by 2030, highlighting immense opportunities in the sector. With Q2 2025 approaching, staying informed and connected is essential. Thus, attending key events within the fintech sector can help to provide valuable insights, networking opportunities, and exposure to cutting-edge financial technologies. From advancements in digital banking and blockchain to AI-driven finance and…

What if the future of banking wasn’t about branches, paperwork, or long waits? What if banking seamlessly integrated into the platforms businesses already use? That’s exactly what Su Mei Toh set out to achieve with ANEXT Bank. As she steps down from her role, she reflects on her journey, the milestones achieved, and the future of SME banking. In a candid conversation, we explore the experiences that Su Mei Toh had, the challenges she overcame, and the lasting impact ANEXT Bank has made on the financial ecosystem.  A Passion for the “Small Guys”  From the very start of her career, Su…

Singapore recently passed the Protection from Scams Act, granting law enforcement the power to freeze bank accounts if they reasonably believe an individual is at risk of being scammed.  At first glance, this appears to be a necessary and commendable step toward combating financial fraud. Financial scams in Singapore reached SGD $385.6 million in just the first half of 2024. Thus, it pretty much seems like the urgency for protective measures is fitting.  However, the law’s broad wording and lack of clearly defined criteria may raise concerns. Most of these doubts are about the potential for overreach and the violation…

The significance of cross-border payments has never been greater. The global economy is increasingly interconnected, and remittances play a crucial role in the financial well-being of millions worldwide. Yet, despite the rise of instant domestic payments, cross-border transactions remain slow, costly, and inefficient. Currently, sending money internationally often involves multiple intermediaries, high fees, and processing times that can take days. Domestic instant payment systems (IPS), such as Malaysia’s DuitNow and Singapore’s PayNow, have revolutionised payments within their respective countries. However, these systems are not inherently connected across borders, making international transactions much more cumbersome. Plus, according to the World Bank,…

According to Deloitte, the financial services sector is one of the largest adopters of artificial intelligence (AI), with over 60% of financial institutions leveraging AI-powered solutions for decision-making, risk assessment, and automation. However, as AI systems become more integrated into financial services, regulators worldwide are scrambling to develop oversight frameworks and regulations that ensure responsible usage without stifling innovation.  The uncertainty surrounding AI regulations has left financial institutions grappling with compliance challenges, particularly in regions like the Asia-Pacific (APAC), where regulatory approaches vary widely. Unlike the European Union’s (EU) comprehensive AI Act or the United States’ sectoral approach, APAC’s regulatory…

The world witnessed an alarming escalation in cryptocurrency-related crimes in 2024. With digital asset adoption surging and financial technology rapidly evolving, blockchain has become both a revolutionary force for economic growth and a tool for illicit activity. While the global crypto market continues to boom, with transaction volumes surpassing USD $10.6 trillion in 2024, up 56% from the previous year, the shadow economy of digital crime has grown increasingly sophisticated. From high-profile ransomware attacks and terrorist financing to scams that wiped out millions in savings, global crypto crime has become an urgent concern. Asia, in particular, has emerged as a…

The traditional approach to credit scoring has long been a source of frustration for many individuals and businesses. A small business owner with a steady cash flow and growing revenues might still be denied a loan. Simply because traditional scoring methods fail to consider the broader picture of financial health. A strict dependence on limited factors like credit history and outstanding debt frequently prevents many deserving applicants from obtaining the credit they need. Artificial intelligence (AI) is transforming this landscape by introducing a more dynamic and comprehensive way of assessing creditworthiness. Unlike conventional models, AI-driven credit scoring does not depend…

In the lead-up to Safer Internet Day, global payments provider Adyen has shed light on the evolving payment fraud landscape in Singapore. With its high level of digital payments maturity, the country has witnessed shifting trends in fraudulent activities. Unlike its regional counterparts, where fraud types like triangulation fraud and account takeover fraud are more common, Singapore has seen a rise in more sophisticated and creative forms of fraud. As fraudsters adapt to security measures and consumer awareness, it is crucial to examine the most prevalent fraud types, their impact on both consumers and businesses, and the measures necessary to…

The Asian banking sector in 2025 is set to roar as it stands at the forefront of a global transformation in financial services. With annual revenues from corporate and investment banking (CIB) exceeding USD $1.4 trillion, the region commands nearly half of the world’s CIB revenues. Currently, it is also projected to sustain 7% annual growth through 2027. According to Fitch Ratings, Asia’s banking landscape has been reaping the benefits from the stabilising interest rates and positive economic momentum, with pockets of opportunity emerging across diverse markets. Transaction banking, which includes cash management and trade finance, has also been pivotal…

Over the past decade, Singapore has emerged as a global powerhouse in fintech innovation, not just in Southeast Asia but across the broader Asian region. The city-state has undergone a transformative journey, evolving from a budding ecosystem to a world-class hub for financial technology. Singapore’s rise can be attributed to its strategic embrace of digitalisation, proactive government policies, and a thriving startup culture. Its resilience and forward-thinking approach have enabled the adoption of cutting-edge technologies like blockchain, artificial intelligence (AI), and quantum computing, reshaping financial services and setting new benchmarks for innovation.   This rapid growth has solidified Singapore’s position as…

A Tracxn Technologies report highlights that the Southeast Asia fintech ecosystem experienced its zenith in 2021, marking the highest annual equity funding in the last decade. However, 2024 saw a significant decline,  with a total funding of USD $1.6 billion, representing a 23% drop compared to USD $2.1 billion in 2023 and a steep 75% fall from 2022’s USD $6.3 billion. The decline is attributed to global macroeconomic conditions, rising interest rates, geopolitical tensions, and a recalibration of startup valuations. Funding has now reverted to pre-pandemic levels, creating a challenging environment for many players in the ecosystem. Yet, optimism abounds.…

Indonesia has reached a significant milestone in its journey toward exploring the potential of Central Bank Digital Currencies (CBDCs) with the completion of the Proof of Concept (PoC) for the wholesale Digital Rupiah under the auspices of Bank Indonesia’s Project Garuda. Marking a pivotal point, Indonesia’s efforts underscore its drive to harness digital technologies for modernising payment systems while safeguarding financial stability and promoting inclusivity. The PoC represents the Immediate State phase of Project Garuda, an initiative designed to explore the application of distributed ledger technology (DLT) in creating a secure and efficient wholesale digital currency system. Bank Indonesia tested…

Bolttech has secured over USD $100 million in Series C funding led by Dragon Fund, with participation from Baillie Gifford and Generali’s Lion River. This latest round values the global insurtech company at USD $2.1 billion. The funds will be directed towards enhancing Bolttech’s platform capabilities. This will help in expanding its global market presence, and driving innovation in embedded insurance. Embedded insurance integrates coverage into the purchasing journey, providing a more convenient alternative to traditional models. Operating across 35 markets, Bolttech connects insurers, distributors, and customers through customised solutions. Dragon Fund’s Managing Director, Aakash Tulsani, highlighted Bolttech’s success in…

Who would’ve guessed that a casual conversation in an elevator could’ve led to one of the most significant fintech investments of this year? At a dinner in New York organised by Endeavor, Rachel Freeman, Chief Growth Officer of Tyme Group, recounted how two fintech teams found themselves sharing an elevator. During this event, Tyme Group’s alignment with Nubank became even clearer, as Nubank’s founder shared research identifying the best countries for digital banking as all four of Tyme’s markets were on that list—namely South Africa, Philippines, Indonesia and Vietnam Ultimately, that brief encounter sparked a connection that culminated in Tyme…

A few years ago, the idea of machines predicting financial fraud faster than expert analysts seemed like a distant dream. Today, this capability has become a core feature of the banking sector. Artificial Intelligence (AI) as we all know today is no longer just a buzzword or a futuristic concept. It has established itself as a vital tool, driving efficiency, innovation, and competitiveness across the financial ecosystem. The KPMG Global AI in Finance Report highlights the profound changes AI is bringing to the banking sector. It shows how AI is not just streamlining existing processes but reshaping them entirely. Financial institutions now…

The growing adoption of stablecoins across Asia marks a significant shift in the region’s financial landscape. Traditionally, U.S. dollar-pegged stablecoins like USDT and USDC primarily dominate the cryptocurrency topography. However, there is slight shift these days as Asian markets are now embracing stablecoins that are linked to their own respective local currencies. This trend highlights efforts to enhance monetary sovereignty, boost financial inclusion, and modernise payment systems in an increasingly digital world. From Singapore’s XSGD to Indonesia’s IDRT and emerging pilots in Thailand and the Philippines, stablecoins are reshaping the region’s economic strategies. As seen in a report by Tiger…