Virtual Banking
GXS Appoints Banking Veteran as Group CEO for Singapore, Malaysia
Grab and Singtel’s GXS Bank has appointed Muthukrishnan Ramaswami as its Group Chief Executive Officer, effective from 7 February. The appointment is subject to regulatory approval. Fondly known as Ramu, the new appointee will be focused on GXS’ ambition to
Read More
Thailand Embraces Digital Banking with Customer Protection in Mind
Thailand has recently approved digital banking but has warned against irresponsible lending. This comes from the growing digital banking trend in Southeast Asia, which has seen an influx of financial technology firms entering the market. The Bank of Thailand (BoT)
Read More
FIS Powers Real-Time Payments for Singapore’s Trust Bank
Payments service provider FIS announced that it will power real-time payment transactions for Singapore’s digital bank Trust. Trust Bank will utilise the FIS Open Payments Framework (OPF) which is an agile and innovative ISO 20022-native real-time payments platform to facilitate
Read More
Thailand to Issue 3 Digital Banking Licenses Next Year – All You Need to Know
With the rise of fintech, traditional banks are being disrupted by nimbler, more customer-centric digital banks; it seems that the future of banking lies in the digital world. The traditional brick-and-mortar banking model’s role has been reduced in the digital
Read More
Singaporean Neobank Inypay Appoints Neeraj Pandey as Chief Business Officer
Inypay, a soon-to-be-launched Singaporean neobank, announced that it has appointed Neeraj Pandey as its Chief Business Officer. In his new role, Neeraj will lead and oversee Inypay’s overall business strategy and operations. He will also be responsible for developing and
Read More
Indonesian Fintech Komunal Bags US$8.5M in Fundraise Led by East Ventures
Indonesian fintech firm Komunal announced that it has raised US$ 8.5 million in a funding round led by venture capital firm East Ventures. This funding round is also participated by AlphaTrio Sustainable Technology Fund, Skystar Capital, Sovereign’s Capital, Ozora, and
Read More
Kerala Embraces Digital, as India’s Banking Ambitions Grow
Even as India is going about the implementation of 75 fully digital banking branches throughout the country, including making allocations for rural areas in the 2022-2023 budget, Kerala claims it has emerged as the first state in India to go
Read More
Singapore-Based Neobank Inypay Raising Funds Ahead of Mid-2023 Launch
Singapore-based Inypay announced that it will be launching its neobank, which has been in development for over 6 months, in Q2 2023. The key focus of Inypay will be micro-lending, remittances, domestic payments, e-wallets, personalised and communal savings as well
Read More
Bigtechs vs Banks: APAC Consumers’ Trust in Financial Services Shifts
In Asia-Pacific (APAC), banking customers are demanding better online experiences and showing willingness to share their personal data if that means being provided with personalized products and services. Customers are also demonstrating increased trust in bigtech companies to fulfill their
Read More
All 5 Singapore Digital Banks Are Now Members of the Credit Bureau
The five digital banks licensed by the Monetary Authority of Singapore (MAS) are now members of the island state’s credit bureau. This brings the Credit Bureau Singapore’s (CBS) members to 36. The two full digital banks Grab and Singtel’s GXS
Read More