Archive
Swift Completes Sandbox Testing of API-Based CBDC Project
Swift said that 18 central and commercial banks found “clear potential and value” in its API-based Central Bank Digital Currency (CBDC) connector. Following a 12-week period of collaborative sandbox testing, almost 5,000 transactions were simulated between two different blockchain networks
Read More
Finastra Launches ESG Service for Lending
Financial services software and cloud solutions provider Finastra has launched its ESG Service, a cloud-native SaaS solution that streamlines sustainability-linked lending. As a cloud-native SaaS solution that uses open APIs, it provides a high degree of flexibility to support varied
Read More
Webinar: Developing a Strong Digital Fraud Detection Strategy in 2023
With over 41% of the top 100 global fintech innovators originating with the region, it comes as no surprise that APAC is home to the highest growing fintech industry in the world. Unfortunately, with this proliferation and growth comes a
Read More
Okta Appoints Clarence Cheah to Lead APAC, Japan Growth
Okta, a publicly traded identity and access management firm, has appointed IT and security industry veteran Clarence Cheah as Head of Growth Strategies for Asia Pacific and Japan (APJ). In his new role, Cheah will oversee Okta‘s strategic growth initiatives and
Read More
KASIKORNBANK Doubling Down on Vietnam Expansion Efforts
KASIKORNBANK (KBank) is doubling down on the expansion of its operations in Vietnam, setting its sights to achieve US$400 million in net income and a customer base of 8.4 million in Vietnam by 2027. The bank had already established a
Read More
Singlife Taps Citi and Blackrock to Revamp Its Investment Capabilities
Financial services company Singlife has appointed Citi and investment company BlackRock for a technology platform to transform its asset management capabilities from end-to-end. Singlife’s integration with Citi and BlackRock’s Aladdin platform will provide clients with complete portfolio management capabilities that
Read More
Cash Is No Longer King in Singapore, Visa Study Says
More than 9 out of 10 Singaporeans prefer card payments over cash, according to the latest Consumer Payment Attitudes Study by Visa in 2022. The study, conducted with 1,000 Singaporeans, found that 97% of Singaporeans use credit or debit cards
Read More
Grab Prepays US$600 Million in Debt Ahead of 2026 Maturity
Southeast Asian superapp Grab has prepaid US$600 million (S$806.82 million) in debt ahead of a 2026 maturity as it had excess cash on its balance sheet, according to a report by Bloomberg. This move brought down its debt under an outstanding
Read More
InterSystems Survey Highlights Data and Tech Obstacles for Financial Services in Asia Pacific
Financial services firms across the Asia Pacific are facing an ever-increasing array of data and technology challenges stemming from both the growth in the volume of customer and business data being generated and the proliferation of data siloes across different
Read More
Babel Finance Files for Moratorium, Works on New Stablecoin to Repay US$766M Loss
Hong Kong-based crypto lender Babel Finance has filed applications in the Singapore High Court to buy more time from its creditors for up to six months. The moratorium is intended to allow the restructuring efforts made by Babel Finance in
Read More