Open Banking in Singapore and South East Asia
Open Banking
Singapore’s Appetite for Open Banking Is at an All-Time High, Finastra Survey Shows
Open banking is now universally and unequivocally regarded as a key part of a bank’s landscape, according to a global research by financial services software and cloud solutions provider Finastra. The ‘Financial Services: State of the Nation Survey 2022’ found
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Indonesia’s Open Finance Scene Heats Up as Consumer Interest Heightens
In Indonesia, consumers are showing high levels of awareness and interest in open finance and embedded fintech, with most people agreeing that sharing their data allows them to be provided with better products and services, as well as tailored recommendations,
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Sacombank Chooses Swiss Firm Temenos to Elevate Digital Banking
Sacombank, one of the largest banks in Vietnam has selected Temenos Infinity to elevate digital banking and deliver a seamless omnichannel experience to retail and business customers. The bank has a customer-centric business strategy and plans to introduce fully digital
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Embedded Finance vs. BaaS in Financial Services
In recent years, the financial services industry has undergone a significant transformation. Traditional financial institutions face new competition from startups leveraging technology to offer innovative financial products and services, broadly referred to as the fintech landscape. But there is a
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Singaporeans Can Now View Their Insurance Data on SGFinDex
Individuals can now digitally access and aggregate information on their life, accident and health insurance policies by participating insurers, the Monetary Authority of Singapore (MAS) and Smart Nation and Digital Government Group (SNDGG) announced today. Policyholders can access the information
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Embedded Finance Firm Weavr Expands to Singapore
Weavr is setting up in Singapore as part of its efforts to make embedded financial services available to any digital business. The official launch was held at the Singapore Fintech Festival 2022, where Weavr is part of the United Kingdom
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Brankas and CRIF Launch a Credit Scoring System for Borrowers With No Credit History
Southeast Asian open finance platform Brankas and credit solutions provider CRIF have launched the New Evaluation Open Suite (N.E.O.S), a credit scoring system which analyses alternative data sources. Under the partnership, Brankas will enable the collection of bank statement and
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South East Asia Leaps Beyond Open Banking
The core tenets of open banking are users’ financial data stored in banks are shared with third-party applications with the users’ consent. This gives users more options and the power to make their money work more. Instead of traditionally going
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Open Data is Key to Shaping the Future of Hyper-Personalised Banking
Despite presenting tremendous opportunities to improve customer experience and drive accessibility to financial services, innovations around open APIs and open banking also increase interconnectedness and the attack surface, introducing new cyber risks which stakeholders must address by rethinking their approach
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Global Embedded Banking Revenue Expected to Reach US$160B by 2025
Despite it being a relatively recent concept, embedded finance has grown rapidly in recent years. The trend is expected to rise further moving forward, with digital consulting company Publicis Sapient forecasting an annual growth rate of 41% in global embedded
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