Archive
Only 5% of The World Challenger Banks Are Profitable, Most of Them Are From Asia
Out of the 50 digital challenger banks operating in Asia Pacific (APAC), just ten operators are profitable. These providers are primarily located in China and Japan, indicating that the two nations offer the most mature and developed digital banking landscapes
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What Does Singapore’s Open Banking Landscape Look Like in 2021?
Amid a rapidly changing financial landscape, incumbent banks must be open to innovation and explore opportunities to partner with non-banking partners for the benefit of their customers. One such way this can be accomplished is through the open banking system.
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Xiaomi-Backed Tiger Brokers Granted Approvals-in-Principle for SGX Trading
Xiaomi-backed online brokerage Tiger Brokers Singapore announced that it has received approval-in-principle to be admitted as a clearing member of The Central Depository (CDP). Tiger Brokers has also received approval-in-principle from Singapore Exchange Securities Trading Limited (SGX-ST) as well as
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Singapore Takes the Lead In Banking-as-a-Service Adoption, Finastra Survey Says
A global study by Finastra suggests Singapore is leading the way towards the next evolution in financial services with the adoption of Banking-as-a-Service (BaaS). Almost half of respondents (47%) having deployed or improved their BaaS capabilities in the last year
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Synthetic Identity Theft Rises in Southeast Asia
Simply stated, synthetic identity theft is when a fraudster combines the personal information of different real-life people to create an authentic-looking digital identity. These identities can include Personally Identifiable Information (PII) such as name, identity card number, birth date and
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MAS Seeks Innovative Digital Currency Solutions Through New Global Challenge
The Monetary Authority of Singapore (MAS) announced the launch of a global challenge for retail Central Bank Digital Currency (CBDC) solutions. The Global CBDC Challenge seeks innovative retail CBDC solutions to enhance payment efficiencies and promote financial inclusion. MAS had
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Fave Pilots BNPL Services for Over 6 Million Users in Singapore and Malaysia
Payments platform Fave has launched its Buy Now, Pay Later (BNPL) service in Singapore and Malaysia to provide over 6 million users with instant access to interest-free credit to be used at over 40,000 stores as a pilot. The service
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Blockchain Analytics Firm Raises US$100 Million at a US$4.2 Billion Valuation
Chainalysis, a New York-based blockchain data platform, announced it secured a US$100 million Series E financing led by Coatue, bringing its valuation to US$4.2 billion. Previous investors Benchmark, Accel, Addition, Dragoneer, Durable Capital Partners, and 9Yards Capital increased their investment
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New Fintech Angel Investor Network Launched With Execs From Grab, PayPal and Stripe
Senior executives from the largest fintechs in Southeast Asia have banded together to launch Fintech Angel Operators, a network of up to 100 angel investors bringing their on-the-ground expertise to early-stage startups. The founding team, from Saison Capital and Finantier,
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Hg Exchange Graduates From MAS Fintech Regulatory Sandbox With RMO License
Hg Exchange (HGX), a private securities exchange formed by an alliance of leading capital market intermediaries, announced its graduation from the Monetary Authority of Singapore (MAS) Fintech Regulatory Sandbox with a Recognised Market Operator (RMO) license. With this RMO license,
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