Archive

DBS Targets US$1B in First Year of Operations at GIFT City in India

DBS Bank has inaugurated its IFSC Banking Unit (IBU) in the Gujarat International Finance Tec-City (GIFT City) at Gandhinagar in India. GIFT City houses India’s first International Financial Services Centre (IFSC), offering a conducive regulatory environment, tax benefits, and other

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Opn Offers Flexible Payments in Malaysia, Singapore With Atome Partnership

Opn, formerly known as Synqa and Omise, announced that its online payment platform has started offering flexible payments in Malaysia and Singapore through a partnership with Buy Now Pay Later (BNPL) firm Atome. Retailers utilising Opn Payments can tap into

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BIS Survey Reveals 93% of Central Banks Engaged in CBDC Work

The rise of digital currencies and the increasing interest in blockchain technology have sparked significant developments in central bank digital currencies (CBDCs) and crypto assets.  Central banks worldwide are actively exploring the potential benefits and implications of CBDCs while monitoring

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Thunes Extends Series C Fundraise to US$72M, Upsizing from Initial US$60M

Thunes, a global B2B payment infrastructure platform, announced the extension of its Series C with an additional US$12 million from Visa, Singapore-based global investor EDBI and San-Francisco’s Endeavor Catalyst. This brings its Series C up to US$ 72 million. Just

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Salesforce’s Findings Show That Consumers Crave Better Experiences from Their Bank

In Singapore, competition in the financial services industry is heating as customers grow frustrated with underwhelming digital experiences and are becoming more and more open to switching providers. A new global survey conducted by customer relationship management (CRM) provider Salesforce

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APAC to Make up for Nearly Half of Global Fintech Revenue by 2030

Global fintech revenue is projected to grow sixfold between 2021 and 2030 to reach US$1.5 trillion annually. Asia-Pacific (APAC) will make up for the lion’s share of that sum, accounting for 40% of global fintech revenue or generating US$600 billion

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Dynamic Data Streamlines Customer Experience, Fights Fraud in Digital Banking

As the digital economy continues to surge and expand, consumer expectations for fast, secure access to products and services seem never-ending. Furthermore, when it comes to financial services, there is an entire generation of consumers cropping up who have barely

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Zurich Launches New Suite of Solutions to Power Digitally Embedded Insurance

Zurich Insurance Group announced the launch of a new suite of technology capabilities and insurance expertise to provide partners and their customers with a refreshed, seamless and elevated approach to digitally embedded insurance across all Asian markets where it operates.

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Michele Bullock to Succeed Philip Lowe as RBA Governor

The Reserve Bank of Australia’s (RBA) Deputy Governor Michele Bullock has appointed as the new Governor for a seven-year term commencing 18 September 2023. She will be the first woman to lead the RBA. The role of the Reserve Bank’s

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Singapore, Cambodia to Launch Financial Transparency Corridor for SMEs

The Monetary Authority of Singapore (MAS) and the National Bank of Cambodia (NBC) will set up a financial transparency corridor (FTC) initiative to facilitate trade and cross-border related financial services between small and medium-sized enterprises (SMEs) in both countries. FTC

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