Virtual Banking

Uncovering Why APAC Digital Banks Aren’t Making Money

In response to the evolving demands of customers and the need to address the limitations of traditional retail banking, there has been a significant rise in the number of digital-first banks operating in the Asia Pacific (APAC) territories. With over

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AWS and Mambu Share Their Guide to Cloud Migration for Incumbent Banks

In today’s rapidly evolving economic environment, businesses need to be able to adapt quickly to changing market and consumer demands. This is especially true for traditional banks and financial institutions experiencing pressure to offer the same level of agility as

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Aspire Achieves Profitability, Eyes Broader APAC and Team Expansion

Singapore’s B2B fintech Aspire announced that it has achieved profitability three months after closing an oversubscribed US$100 million Series C round co-led by Lightspeed and Sequoia Capital SEA. Headquartered in Singapore, Aspire serves over 15,000 businesses, including over 5,000 businesses

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India Neobanking Sector Poised for 50.5% Annual Growth Through 2025

India’s neobanking market has been growing at a fast pace, driven by rapid change in technology, growing levels of Internet and smartphone penetration and supportive government initiatives. Accounting and consulting firm Grant Thornton estimates that the Indian neobanking market was

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There Are Only 11 Profitable Challenger Banks In Asia — Here’s The List

Most digital challenger banks around the world are struggling to turn a profit, hampered by high customer acquisition costs, burdensome regulatory compliance requirements and limited revenue streams. Boston Consulting Group (BCG) estimates that a mere 5% of over 450 global

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A List of Digital Banks in Asia

Are digital first banks in Asia poised to lead a disruptive charge against well-entrenched, established commercial banks? In the traditional banking sphere globally, but especially true in Asia, there is a considerable proportion of unbanked and underbanked populations who lack

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Trust Bank Offers In-App Travel Insurance by Income

Singapore’s Trust Bank announced that its customers are now able to purchase affordable travel insurance by Income Insurance within its app which takes about a minute to complete.  This latest launch combined with Trust Bank’s card with zero FX fees

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Tyme Pulls in US$77.8 Million for Ongoing Pre-series C Raise

Tyme, a multi-country digital banking group headquartered in Singapore, has secured funding from two new shareholders – Africa-focused tech growth fund Norrsken22 and global impact investment firm Blue Earth Capital as part of its Pre-Series C capital raise. This brings

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Trust Bank Rolls Out Supplementary Credit Card With Instant Issuance

Singapore’s Trust Bank has launched its supplementary credit card where the application process is fully digital and will be issued instantly to its customers. The principal card holder will now be able to invite the supplementary card holder through the

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Revolut Singapore Users Can Now Exchange and Store 7 New Currencies in the App

Revolut, a global neobank with more than 28 million customers worldwide, announced that its Singapore users will be able to exchange and store seven new currencies within the app. The additional currency accounts include Indian rupee (INR), Philippine peso (PHP),

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