Open Banking

APAC Banks Are Backing Open Banking, but What Does ‘Open’ Really Mean?
Open Banking

APAC Banks Are Backing Open Banking, but What Does ‘Open’ Really Mean?

A survey launched this week by Finastra revealed that close to 100% of financial institutions in Singapore and Hong Kong think Open Banking is important, with two thirds in Singapore calling it a “must have”. Open Banking has not only

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Finastra: 98% of Singapore Banks Agree That Open Banking Is Important to Their Business
Open Banking

Finastra: 98% of Singapore Banks Agree That Open Banking Is Important to Their Business

A global survey by Finastra shows financial institutions in Singapore are supportive of the Open Banking movement and fintech collaboration, with 86% either committed to or considering opening their APIs in the next 12 months. Nearly all respondents (98%) said

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Finastra Integrates its Solution With Salesforce to Enhance Relationship Management
Open Banking

Finastra Integrates its Solution With Salesforce to Enhance Relationship Management

Finastra today announced the launch of its Fusion Credit Connect solution on Salesforce AppExchange and Finastra’s FusionFabric.cloud. They said this is re-envisioning how relationship managers and borrowers connect and communicate from opportunity to origination, through to closing and booking. Corporate

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Unlocking the Value in Payments Data With Technology and Partnerships
Big Data Open Banking

Unlocking the Value in Payments Data With Technology and Partnerships

Over the years, banks have been creating exponentially growing mountains of data – much of it with huge potential value. However, despite their ability to create it, banks have not always been good at making the best use of it.

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Open Banking Platform Railsbank Sees Strategic Investments from Visa
Mobile Payments Open Banking

Open Banking Platform Railsbank Sees Strategic Investments from Visa

After raising US$ 10 million and expanding to Singapore, the open banking platform Railsbank announced today that it has received yet another round of investments from Visa and Global Brain, a Tokyo-based VC firm. The sum of the investment was

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Singapore Leads Asia Pacific in Open Banking
Open Banking Studies

Singapore Leads Asia Pacific in Open Banking

In its Open Banking APAC report, released earlier this month, the EPAA provides an overview of developments in the region and shares findings from a survey of industry participants and experts from APAC. Unlike the regulator-led approach in the European

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Why Platformification is Key to The Next Banking Revolution
Innovation Open Banking

Why Platformification is Key to The Next Banking Revolution

Driven by technological innovations and increased online connectivity, the world is going through a major economic revolution with the rise of the platform economy. The platform economy refers to the current transition most companies are making from being product-centric to

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OCBC Enables Account Opening for Startups Immediately After Incorporation
Open Banking

OCBC Enables Account Opening for Startups Immediately After Incorporation

Start-ups are now able to open an OCBC business banking account in Singapore immediately after incorporation, rather than having to wait one day. This is made possible by an API between the bank and global information services provider Experian. Once

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GrabPay Users Can Now Increase Transaction Limit to $SGD 30,000 After KYC Process
Mobile Payments Open Banking

GrabPay Users Can Now Increase Transaction Limit to $SGD 30,000 After KYC Process

Grab users will now be able to authorise the retrieval of personal data from MyInfo, a digital identity service from GovTech, to complete the verification process easily. This comes after GrabPay became a relevant stored value facility (SVF), licensed and

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Temasek and Tencent to Invest US$35 Million in TrueLayer
Funding Open Banking

Temasek and Tencent to Invest US$35 Million in TrueLayer

Tencent and Temasek is set to invest US$ 35 Million in UK-based open banking startup True Layer’s US$40 Million Series B round. This fresh round of funding brings the startup’s total funding to US$ 51.8 Million, according to Crunchbase. Temasek’s

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