Archive
MAS’ Global Fintech Hackcelerator for 2022 Highlights Web 3.0 and Green Finance
The Monetary Authority of Singapore (MAS) has launched the 7th edition of the Global Fintech Hackcelerator, with the theme “Accelerating A Greener Digital Future”. The competition, powered by Oliver Wyman, seeks to leverage the potential of fintech in accelerating the
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Banks in APAC Are Increasingly Turning to Regtech to Tackle Compliance Challenges
In Asia-Pacific (APAC), an increasingly complex regulatory environment, changing customer behaviors and the shift to digital channels brought about COVID-19 have introduced new regulatory challenges to banks, forcing the industry to embrace technology to find more efficient ways to
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OCBC Hit With S$330 Million Additional Cap Requirement After Phishing Scam
The Monetary Authority of Singapore (MAS) has imposed an additional capital requirement of approximately S$330 million on OCBC Bank. The regulator said that this move was in response to the deficiencies in the bank’s response to a wave of spoofed
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Why B2B Payments Is The Next Big Domino in APAC’s Fintech Innovation Wave
In the midst of the Covid-19 pandemic, a 2020 McKinsey report projected that Asia’s payments sector would be well positioned to exceed US$1 trillion in annual revenue by 2022 or 2023, despite also forecasting a temporary 1-8% decline in Asia’s
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bolttech Expands Its Vietnam Footprint With Viettel Telecom Partnership
Insurtech unicorn bolttech announced that it has partnered with Vietnam’s telecommunications network operator Viettel Telecom. The partnership launched insurance offerings, powered by bolttech’s insurance exchange platform, on Viettel’s customer app MyViettel. The offerings include health, travel, home, car, and motorbike
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Indonesian Robo-Advisor Bibit Raises US$80 Million in Fundraise Led by GIC
Indonesian digital investment app Bibit announced that it has raised more than US$80 million in a funding round led by GIC, joined by Prosus Ventures and other existing investors. Bibit said that the funds raised will be used for the
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Singapore, Switzerland Join Forces to Promote Data Connectivity for Financial Services
The Swiss State Secretariat for International Finance (SIF) and the Monetary Authority of Singapore (MAS) jointly issued a statement of intent to promote data connectivity for financial services. SIF and MAS said that they recognise the importance of a sound regulatory
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India’s 16 Fintech Unicorns
Recently Kerala-based fintech startup Open Financial Technologies reached a US$1 billion valuation after closing a US$50 million Series D funding round. The round took Open Financial Technologies to unicorn status, joining India’s other 15 billion dollar fintech startups. Founded in
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ADDX Raises US$58 Million, Thai Stock Exchange and UOB Are Now Shareholders
Singapore Exchange-backed private market platform ADDX has raised US$58 million in a Pre-Series B funding round, bringing its total funds raised to around US$120 million. The fundraise saw several financial institutions come on board as new shareholders. This includes SET
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GrabFin Rolls Out Investment Product Earn+ for Its Singapore Users
Southeast Asian fintech platform Grab Financial Group (GFG) announced that it will be launching Earn+, an investment product for its Singapore-based Grab users. GFG also revealed that it will be launching GrabFin, a new brand that offers Grab users a
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