Open Banking in Singapore and South East Asia
Open Banking
Open Finance Platform Brankas Raises USD $20m From Insignia Ventures and Visa
Brankas an open finance tech firm announced the close of its US$20m Series B investment round led by Insignia Ventures Partners with participation from existing investors Beenext and Integra Partners. Visa, AFG Partners and Treasury International (backed by veteran fintech
Read More
AFIN Launches Fintech Global Registry ChekFIN to Ease Open Banking Partnerships
The ASEAN Financial Innovation Network (AFIN) announced the launch of ChekFIN, a global fintech registry aiming to assist Financial Institutions (FIs) in identifying and evaluating fintech companies for collaboration and development opportunities. Created in collaboration with Boston Consulting Group Fintech
Read More
Fintech Enablers are Fueling the Growth of Embedded Finance
Fintech “enablers” have exploded in growth and popularity in the last few years, bringing with them a new wave of innovation by democratizing financial services and expanding the fintech market opportunity. Fintech enablers develop and provide cutting-edge technologies to various
Read More
Big Tech, Super Apps Redefining the Status Quo in APAC’s Banking Space
A major paradigm shift is taking over Asia Pacific’s (APAC) banking sector, driven by a changing regulatory landscape, the onset of open banking, and rising competition from big techs and super apps. By leveraging data and ecosystem partnerships, these new
Read More
Three Reasons Why APIs Are Driving Fintech’s Stellar Growth
Startup funding is currently flowing at an unprecedented rate, and fintech is turning out to be one of the biggest beneficiaries. In the first quarter of 2021, Singaporean fintech startups saw a surge in funding of over 350% compared to
Read More
Southeast Asia Gears up for Open Finance Movement
Open finance, the next step in the open banking movement that broadens the scope to a wider range of products and services, offers new growth and distribution opportunities for banks, fintechs and other financial services providers. In Southeast Asia, regulators
Read More
AFIN Leverages Data Center Giant Equinix To Offer Enhanced Open Banking Infrastructure
Data center giant Equinix announced that the ASEAN Financial Innovation Network (AFIN) would leverage its platform to accelerate financial services innovation in Singapore and the global fintech ecosystem. The collaboration will provide a dedicated on-premise API Exchange (APIX) sandbox on
Read More
Banking-as-a-Service: A Promising Sector in Southeast Asia
In Southeast Asia, banking-as-a-service (BaaS) can help financial institutions reach a greater number of customers and improve financial inclusion. But for BaaS to reach its full potential, the sharing of data is critical, Arvind Swami, director of business development for
Read More
OCBC First to Integrate With IRAS to Enable Direct Payment of Taxes
OCBC Bank is the first in Singapore to collaborate with the Inland Revenue Authority of Singapore (IRAS) to enable customers to have a seamless review and payment of their income and property taxes within a single digital platform, according to
Read More
What Does Singapore’s Open Banking Landscape Look Like in 2021?
Amid a rapidly changing financial landscape, incumbent banks must be open to innovation and explore opportunities to partner with non-banking partners for the benefit of their customers. One such way this can be accomplished is through the open banking system.
Read More