Archive
Nium to Acquire Alternative Payments Network Platform Socash
Global payments platform Nium announced a definitive agreement to acquire Socash, a Singapore-based alternative payments network platform. Socash brings together financial institutions and digital commerce merchants into a network that allows consumers to deposit, withdraw, and make payments with cash
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Funding Societies Makes Co-investment in Indonesia’s Bank Index
Funding Societies, Southeast Asian SME digital financing platform also known as Modalku in Indonesia, announced its investment into Indonesia’s Bank Index alongside Carro, a Southeast Asian automotive marketplace platform. This move signals Funding Societies’ entry into the neobanking space. With
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BIS and Bank Indonesia Launch the Third G20 TechSprint Focused on CBDCs
The Bank for International Settlements (BIS) Innovation Hub and Bank Indonesia has launched the third G20 TechSprint Initiative, focused on developing new solutions for central bank digital currencies (CBDCs). The initiative will be one of the side events of Indonesia’s G20
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Manulife and DBS Launch Insurance Starter Plan ‘ProtectFirst’ for Young Singaporeans
Manulife Singapore and DBS Bank announced the launch of their co-developed insurance starter plan, ProtectFirst, designed to help young Singaporeans kickstart their protection journey affordably at a lower premium. Customers can assess their protection gaps via the bank’s digital AI-powered
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ForgeRock Redesigns Authenticator App for Enhanced User Experience
ForgeRock, an identity and access management software company, announced the availability of its next-generation Authenticator App. The redesigned app is said to offer a quicker and simpler login process and provides improved navigation, in addition to new biometric lock options
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Gobi Partners, Ozora Launch US$10 Million Fund for Indonesian Female Founders
Venture capital (VC) firms Gobi Partners and Ozora Yatrapaktaja have partnered to launch a US$10 million seed fund for women-led startups in Indonesia, called the Ratu Nusa Fund. The fund will support seed-stage and pre-Series A companies focused on health
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Southeast Asia’s Top 5 Largest Fintech Unicorn Exits
Over the past decade, Southeast Asia’s startup ecosystem has significantly matured with an estimated US$52 billion of venture capital (VC) invested into startups and an increasing number of large late stage deals, according to a 2021 report by investment firm
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Stripe Allows Singapore Businesses to Offer PayNow Transactions
Stripe, a global financial infrastructure platform for businesses, announced that its Singapore-based users can begin accepting PayNow as a payment method across its integrated suite of solutions. Since its launch in 2017, PayNow has grown to over 4.9 million registered
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Deloitte and Mambu Releases Guide on Five Steps for BNPL Success
Deloitte and cloud banking platform Mambu have identified the five steps merchants and fintechs need to embrace to build a successful Buy Now Pay Later (BNPL) offering. This is part of a new report exploring the implications of the fast-growing
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Fraud Prevention Firm SEON Raises US$94 Million Series B
SEON, a London-based startup that powers online fraud prevention, announced that it has raised US$94 million in Series B funding. The round was led by Silicon Valley-based IVP with participation from existing investors Creandum and PortfoLion, as well as, angel
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