Open Banking
Why Platformication 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
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
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$35 Million in TrueLayer
Tencent and Temasek is set to invest US$ 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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With Britain Done, Can Revolut Convince Asians to Try Neo-Banks?
Founded in 2015, Revolut is one of Britain’s fastest-growing fintech players, now valued at US$1.7 billion, serving its Apple-levels cult following of 2.8 million users across 28 markets in Europe. Revolut claim to fame is a payments card that offers
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How DBS and OCBC Global Leadership Shows Singapore’s Success in Open Banking
Singapore’s DBS Bank and OCBC are regional leaders in fintech and pioneers in open banking according reports from Accenture and Innopay Open Banking Monitor. The positioning of these banks gives us a good sense of where Singapore stands in the global
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Open Banking’s Biggest Challenge to Global Acceptance is, Ironically, Regulation
The World Payments Report by BNP Paribas and Capgemini highlights some interesting trends when it comes to key regulatory initiatives. Despite general global interest in embracing open banking, we still have a fragmented ecosystem of regulations and frameworks. This is in part
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FSI’s Future Is Autonomous, Oracle Wants to Help You Navigate it
Going to the Singapore Fintech Festival? Good. Staying up to date on the latest services and transformative technologies is more important now than ever, because the future of the financial services industry has never before been so uncertain. A rapidly
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4 Banks in Asia Pacific That Are Winning Open Banking Adoption
Following the UK banks’ ambitious move towards open banking, fintech hubs across the globe have been following suit, leading to a banking revolution that could fast-track the development of fintech—particularly fintech based on personal wealth and spending habits. With Singapore’s
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Swift Brings World Open Banking Sandbox For Fintechs
SWIFT in conjunction with Australia’s New Payments Platform (NPP) have launched a sandbox that allows independent fintechs to test the NPP network—an Australian, industry-wide infrastructure to enable almost real-time, 24/7 payments. The network is Australia’s bid to replace the clunky legacy infrastructure
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