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WorldFirst to Extend E-Commerce Solutions to 4 Southeast Asian Markets
WorldFirst, a digital payment and financial services provider for small and medium-sized enterprises (SMEs) engaged in cross-border trade, has revealed plans to extend its e-commerce digital finance solutions to additional markets in Southeast Asia in 2023 and 2024. This expansion
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Digital Assets and Sustainable Finance Take Center Stage at Singapore Fintech Festival
At the Singapore Fintech Festival 2023, Ravi Menon, Managing Director of the Monetary Authority of Singapore, delivered an insightful address on fintech’s current and future direction. His speech thoughtfully reflected Singapore’s advancements in fintech since the previous year and a
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Citi Wraps Up Asian Consumer Banking Exit with Sale to UOB Indonesia
Citi has officially completed the transfer of its consumer banking operations in Indonesia to United Overseas Bank Indonesia (UOBI), in a move marking its ninth and final sale in its strategic refresh plan. This sale, which includes Citi’s retail banking,
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Southeast Asia Digital Economy Set to Hit US$100 Billion in Revenue
In an era marked by rapid technological advancements and economic unpredictability, Southeast Asia stands out with a digital economy that is not just surviving, but thriving. The e-Conomy SEA 2023 report from Google, Temasek, and Bain & Company provides a
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Entrust Report Highlights Shifting Consumer Trends in Banking and Payment Tech
The Entrust Cybersecurity Institute has recently published the Digital-First Banking report, which is a comprehensive analysis of the evolving preferences and attitudes towards digital banking. Financial services’ cybersecurity specialists Entrust has the Cybersecurity Institute research house to curate insights for
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OCBC Indonesia Inks Deal to Acquire PT Bank Commonwealth for US$144M
In a significant move to expand its presence in Indonesia, PT Bank OCBC NISP Tbk (OCBC Indonesia) has agreed to acquire a 99% stake in PT Bank Commonwealth (PTBC) from Commonwealth Bank of Australia (CBA). The deal is reportedly worth
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2023 Visa Accelerator Fintech Startups Stand Out at Singapore Demo Day
During the 2023 Singapore Fintech Festival, Visa showcased the progress of seven startups from its Asia Pacific Visa Accelerator Programme 2023. These startups, selected in May 2023, have been working on innovative solutions in digital payments, benefiting from Visa’s global
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NETS Goes Beyond Payments With ‘Merchant Solutions’ Launch
The Network for Electronic Transfers (NETS) has expanded beyond payments with the launch of its Merchant Solutions, where over 100 merchants participated in the pilot phase this year. The solution is a customisable management system designed to streamline business operations
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DBS to Step up Hiring Engineering Talent to Fix Complex Software Bugs, Says CEO Piyush
DBS’ CEO Piyush Gupta revealed that software bugs or technical glitches were the root cause of four out of the five major service disruptions experienced by the bank in 2023, according to The Straits Times. Recognising the need for stronger
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OCBC’s Digital Banking Services Back Online After Intermittent Disruptions
OCBC Bank has announced that its internet banking, OCBC Digital App Funds Transfer, and PayNow services have resumed after experiencing intermittent technical issues in a Facebook post yesterday (7 November 2023) at 2.45 pm. However, the comments from users after
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