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“Expanding our Horizon” – under this motto Netcetera expands to Singapore in 2020. The Swiss software company and expert for digital payment solutions implements its global growth strategy with concrete measures and opened an office in Singapore in March. In addition to the office in Dubai, they want to advance further East with their highly secure and scheme-certified payment products. In March 2020, Netcetera opened its fifteenth location with an office in Singapore. Singapore is considered the financial capital and fintech hub of the region and is another step towards the East for Netcetera. “With Singapore, we are setting the…

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Finastra has crowned Team ‘WonderTech’ the grand prize winner of its largest-ever global fintech hackathon on its open development platform, FusionFabric.cloud. The Manila-based team was selected for the top honor for its ‘Agree Farm App’ from among five category winners at Finastra Universe New York. The app, which aims to connect rural farmers in the Philippines with access to bank loans, was chosen by an audience of senior professionals representing financial institutions. The team’s app was built using open APIs on FusionFabric.cloud, Finastra’s open development platform. Team ‘WonderTech’ consisted of four young professionals and university students in Manila: Michael Puzon,…

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OCBC announced today the roll-out of cheque encashment service across all its ATMs at 23 branches. Since February 2020, customers have been able to encash cheques – for up to a maximum of $30,000 in a single cheque – by depositing them into the ATM to instantly get cash. This capability enables the ATMs to process 90 percent of all the cheques usually encashed at OCBC Bank branch teller counters. Even as Singapore pushes to become cheque-free by 2025, cash cheques continue to be used by small and medium-sized enterprises (SMEs), typically to pay staff salaries, get cash for daily…

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After seeing an increase in demand from customers in the Asia Pacific region, RavenPack, a market leader in NLP and big data analytics, has decided to set up a dedicated office in Sydney, Australia Heading up the expansion will be Justin Amos, former Director of Emerging Technologies at PwC in Australia and a successful entrepreneur in the financial technology sector with 20 years in global capital markets experience. RavenPack’s expansion into Asia Pacific meets a rise in demand for its data analytics from players in the major established financial centers of the region as well as emerging economies. “We are…

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Ovo, one of Indonesia’s leading digital payment and digital financial services platform kicks off its collaboration with Bareksa, an integrated online mutual fund marketplace. From early February onwards, OVO users can purchase mutual funds through the Bareksa platform seamlessly. Jason Thompson, OVO CEO stated, “We are very excited to announce the partnership as we are solving the friction in going cashless and bringing financial literacy in Indonesia to a higher level. We believe that a seamless integration with Bareksa will drive impact towards consumer adoption of digital financial services and enforce sustainable growth on the OVO platform.” The rapid…

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Intercontinental Exchange, Inc., a an operator of global exchanges and clearing houses and provider of data and listings services, today announced the launch of the Bakkt™ Bitcoin (USD) Cash Settled Monthly Futures contract. The new contract will be listed on ICE Futures Singapore and cleared by ICE Clear Singapore, which are regulated by the Monetary Authority of Singapore. Bakkt Bitcoin Cash Settled Monthly Futures will be settled against data from the physically delivered Bakkt Bitcoin (USD) Monthly Futures contract, the first fully regulated futures market for digital assets. “Our new cash settled futures contract will offer investors in Asia and…

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The Singapore FinTech Festival (SFF) and the Singapore Week of Innovation and TeCHnology (SWITCH) will come together for the first time as SFF x SWITCH. Running from 11 to 15 November, this event will gather the global innovation and business community in Singapore. There will be over 400 speakers, more than 900 exhibitors, 41 international pavilions, and about 60,000 participants from 130 countries. Sustainability and Climate Change is the overarching theme of the combined conference this year, given the growing calls for the technology and financial sectors to be enablers and change agents for sustainability. This theme is reflected in…

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BASIS ID, the Estonia-based startup dedicated to ease the hurdles from customer onboarding and KYC will co-host with RegPac an event during the Singapore FinTech Festival. Given the tightened regulatory controls arising from recent scandals with the likes of 1MDB, BASIS ID enjoys a market leader position by offering a KYC service that exactly meets the needs from today’s landscape. By offering an agile yet efficient KYC tool, BASIS ID is making client onboarding seamless. The fact that the Monetary Authority of Singapore (MAS) is combining its capabilities with other government bodies to host the first ever integrated SFF X…

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Validus Capital , a Singapore based financing platform, has launched Validus Vietnam. This marks Validus’ third Southeast Asian market following from Singapore in 2015, and Indonesia, where it launched its Indonesian arm Batumbu in May 2019.   Validus Vietnam looks to plug the unmet US$21 billion SME financing gap in the country. To meet the financing needs of SMEs in burgeoning industries, including manufacturing, real estate, construction, healthcare, consumer services, retail and wholesale trade, Validus Vietnam will partner with corporates to provide SME growth financing to their vendors and subcontractors. Pilot programmes with partners that are in the pipeline include Medicare…

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Sygnum, the digital asset technology group based in Singapore and Switzerland, announced today that it has successfully obtained a capital markets services (CMS) licence from the Monetary Authority of Singapore (MAS). The company recently received its banking and securities dealer licence from the Swiss Financial Market Supervisory Authority (FINMA). With the CMS licence, Sygnum can now conduct asset management activities in Singapore, and will focus primarily on digital asset investment strategies for accredited and institutional investors. The first product to be offered is a multi-manager fund (also referred to as a “fund-of-funds”), slated for launch on Friday, 1 November 2019.…

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NETS and ComfortDelGro Taxi announced the launch of NETS’ new in-app payment method for taxi bookings and street hail trips made through the ComfortDelGro Taxi Booking App. Named NETS Click, the initiative enables consumers to use their NETS bank cards from DBS, OCBC and UOB to conveniently pay for both mobile booking and street hail trips with ComfortDelGro taxis via the ComfortDelGro Taxi Booking App. The partnership with ComfortDelGro Taxi marks the first time consumers can store NETS payment details on file to use their NETS bank card as an in-app payment mode. NETS will soon partner with online merchants…

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CIMB Bank Philippines surpasses their targets for expanding their consumer base in the country, successfully signing up over a million Filipinos to its all-digital mobile banking platform in just 10 months. This makes CIMB Bank Philippines the fastest-growing all-digital bank in ASEAN, solidifying its position as a market leader in digital banking both in the Philippines and in the region. Aligned with their vision of financial inclusion and financial freedom, CIMB Bank Philippines has committed to making banking more simple, transparent, and hassle-free through the CIMB Bank PH mobile app using advanced technology capabilities to provide a safe and secure…

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Salesforce, the global leader in CRM, announced new research from IDC that finds Salesforce and its ecosystem of partners will create 8,500 new direct jobs and SG$7.6 billion (USD $5.6 billion) in new business revenues in Singapore from 2019 through 2024. Globally, manufacturing leads the way job creation with a forecast of 765,800 new jobs by 2024 and finance leads in new business revenues with $224 billion in by then. The report also delves into specific high growth occupations, with AI specialist jobs growing at 44% and IoT related jobs growing at 38% annually. Cloud computing is driving this growth,…

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Digital Wallet Corporation (DWC) today announced its entry to the Philippines through the acquisition of a licensed remittance and foreign exchange company, Speed Money Transfer Philippines, Inc. (SMTP) with operations in the Philippines and Australia. With this acquisition, SMTP is renamed Digital Wallet Philippines, approved by the Bangko Sentral ng Pilipinas. DWC will expand its mobile wallet technology, Smiles Mobile Remittance (Smiles), through Digital Wallet Philippines. SMTP’s customers will benefit from the convenience of using DWC’s mobile wallet services to receive and transfer funds, both domestically and internationally, at any time through the Smiles mobile phone application. Eiji Miyakawa, Founder…

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CIMB Singapore and iTrust today announced that they have successfully completed their first structured trade financing transaction on iTrust’s Blockchain and Internet of Things (IoT) platform. The transaction involves the financing of dairy products imported into China and is expected to generate transaction flows of up to US$100 million a year, according to their media statement. iTrust provides secured real-time visibility of the cargo in transit and in the warehouse using blockchain-based IoT. All data and documents from the transaction are stored in a distributed ledger for provenance and immutability. The technology provides all stakeholders with a secured operational dimension…

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Travel technology scaleup Upgrade Pack has expanded its flight and hotel upgrade business into Asia Pacific with the opening of a Singapore office. As part of the company’s growth, Upgrade Pack has appointed ex-Google and Expedia executive Toby Berger as APAC COO, as the startup rolls out its customer loyalty and reward platform in the region. The international expansion comes as Upgrade Pack prepares to launch its app, which provides users with discounted upgrades on flights and hotels of up to 35%. Its proprietary technology offers banks, credit card issuers and employers a differentiated, digital customer loyalty and employee benefit,…

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Refinitiv announced it has launched its global electronic trading Matching service in Vietnam, as emerging markets in the Asia region continue to develop their financial markets and digitize FX trading capabilities. The launch represents Vietnam’s first electronic marketplace for the trading of VND. Matching trades on a T+1 basis which is the most commonly traded value date. Vietnam has had a remarkable growth and development story over the past 30 years. Economic and political reforms under Đổi Mới launched in 1986, have laid the groundwork for growth that averaged 6.6 percent per annum during 2014-18, reaching a 10 year high…

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With digital technology revolutionising accounting and financial management across Singapore and Southeast Asia, cloud adoption and the uptake of software, services and solutions to streamline finance and accounting processes are certainly on the up around the region. The Accounting & Finance Show Asia, organized by Terrapinn, is the flagship event for accounting firms and small and medium sized businesses across Asia looking for access to world class financial solutions that are low cost, scalable and mobile. The Show will highlight the latest accountancy practices, technology and solutions presented by experts, advisors and consultants at the Suntec Convention Centre from 8…

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Asia’s largest technology event stack, Cloud Expo Asia, Cloud & Cyber Security Expo, Big Data World, Smart IoT Singapore, Data Centre World, eCommerce Expo Asia, and new launch event, Technology for Marketing Asia, will return for its seventh edition on 9 – 10 October 2019. 2019 will see the event stack expand to two levels of Marina Bay Sands Expo and Convention Centre (Basement 2 and Level 1) in preparation for the 18,000 international industry professionals expected to attend. Event features this year include a suite of new content & highlights, including the newly launched Channel Partner Programme – a…

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Euronext today announces the successful launch of Euronext FX in Singapore. Having been first announced on 26 March 2019 for a target launch date of Q4 2019, the venue was launched months ahead of schedule, with the first spot foreign exchange trades occurring on 09 September 2019 between two global banks. In a media statement, Euronext said that the Singapore launch reflects Euronext FX’s ambition to be closer to its clients worldwide and creates a strong development base to become a major electronic FX marketplace in the region. It also enables clients across the Asia-Pacific region, including Singapore, Australia, and…

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