Author: Izzat Najmi Abdullah

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…

Singapore, a nation long recognised for its financial acumen and technological advancement, is making a calculated gamble on the future of finance through tokenisation. Rather than shying away from the complexities of the digital asset revolution, the city-state is actively embracing the potential of tokenisation and cryptocurrencies. This proactive approach, driven by the Monetary Authority of Singapore (MAS), seeks to enhance the nation’s financial infrastructure. The goal is to attract investment and innovation, maintain Singapore’s competitive edge in the global arena, and expand financial inclusion. However, this embrace of the new is not without a cautious side, as Singapore carefully…

Have you ever wondered how easy it has become to pay for a ride or order food through an app without pulling out a card or cash? Not because it’s free, but because the payments were seamlessly integrated into the apps you’re using. This is embedded finance at work, and it’s quietly transforming the way we interact with money – without most of us even realising it. Wait, What’s Embedded Finance? If you’ve never heard of embedded finance, don’t worry. You’re probably using it every day. In simple, layman’s terms, embedded finance is when financial services – like payments, loans,…