A new Monetary Authority of Singapore (MAS)-backed industry framework proposes tighter guardrails for AI agents acting inside financial systems. The framework, called Safeguards for Agentic Finance at Runtime, or SAFR, sets out how financial institutions can authorise AI agent actions, trigger human review and record decisions before actions are executed. SAFR was developed by MAS, leading financial institutions and fintechs under MAS’ BuildFin.ai initiative, which supports the responsible development and deployment of AI solutions in the financial sector. It is aimed at AI agents that can take action on their own, rather than only produce recommendations for human review. These agents may be used to initiate payments, submit trading orders, approve credit applications, file regulatory reports or settle insurance claims. The paper notes that existing governance processes were largely built for human decision-making and may not be enough for autonomous systems operating at high speed and scale. Checks Before Execution SAFR is designed to sit between an AI agent and the systems it acts on. Before an action goes through, the framework checks the agent’s identity, the authority given to it, institutional controls and risk thresholds. The framework provides governance checkpoints that verify and record an AI agent’s proposed actions before execution, helping ensure they remain within predefined mandates, policies and risk boundaries. The framework has four main components: agent identity, a controls repository, a disposition engine and an audit log. Source: MAS The disposition engine determines whether an action should be approved for automatic execution, rejected, sent for human review or allowed to proceed while being flagged for monitoring. The audit log creates a tamper-evident record of each governance decision, including the proposed action, the rules applied and the outcome. SAFR builds on MAS’ Project MindForge AI Risk Management toolkit, with a focus on how safeguards can be applied at the point of action for AI agents. The paper covers areas such as policy-bound execution, real-time validation, auditability and interoperability, and how these safeguards can be embedded into system operations. Industry Pilots and Use Cases Industry members have applied the SAFR framework across use cases including agent-assisted payments and treasury operations, wealth management and advisory workflows, and client engagement. Insert the SAFR case-study table from pages 17 to 20 here. The report includes use-case examples from Mastercard, Ant International, Visa, Circle, OCBC and Bank of Singapore, and Manulife. SAFR is not regulatory guidance or a managed service. It is presented as an industry reference model that institutions can adapt to their own technology, risk and compliance systems. Institutions can implement the framework through native integration, where the AI agent produces a governance record before each proposed action, or through a gateway model that intercepts outbound API calls from existing agents. Interested industry partners have been invited to join the BuildFin.ai work group to contribute to future versions of SAFR. The recently announced Future of Finance Institute will support future adoption of the SAFR framework through industry pilots and sandbox experimentation.     Featured image: Edited by Fintech News Singapore, based on image by farknot via Magnific The post MAS and Industry Partners Set Guardrails for AI Agents With SAFR Framework appeared first on Fintech Singapore.

Nuvei has completed a live agentic commerce test with Visa, where a merchant’s AI agent initiated and paid for a shopper’s purchase without leaving the AI agent. The test was conducted with Visa, Arvato Systems and fashion brand Kings and Priests. It was completed without sending the shopper to a separate checkout flow. Multiple issuers across Europe took part, with payments authorised and settled on live rails using a tokenised credential through Visa Intelligent Commerce. The transaction used shopper-set controls, including spending limits and approved purchase categories. The test forms part of Nuvei’s wider agentic payments strategy, which aims to help merchants support AI-initiated payments across different protocols and networks. Phil Fayer Phil Fayer, Chair and CEO of Nuvei, said, “Agentic commerce is the next evolution of digital commerce, with AI not just finding products but initiating purchases. This proof of concept starts inside a merchant’s own experience and points to where payments are heading: a layer that lets any agent, on any protocol, make a payment.” The proof of concept involved issuing partners including Alpha Bank, Piraeus Bank, Bank Leumi, CAL, MAX and Bank of Cyprus. Mathieu Altwegg Visa Europe’s Head of Product and Solutions Mathieu Altwegg said, “Through Visa Agentic Ready, we are extending existing capabilities — including tokenisation and network-level controls — to enable agent-initiated payments in a trusted and consistent way. This proof of concept shows how those foundations can support new experiences today, with authentication continuing to evolve as the model scales.” Nuvei is also building a protocol compatibility layer to let merchants connect once and accept payments from agent standards such as ACP, AP2 and MCP. The company plans to add Know Your Agent features to register and credential agents, validate consumer mandates, assess agent risk and keep actions auditable. Nuvei is targeting initial availability in the second half of 2026, including protocol compatibility, agent risk scoring, network certifications and a developer sandbox. Nuvei, Visa and the participating issuers are now working to scale the capability toward production.     Featured image: Edited by Fintech News Singapore, based on image by FestArt via Magnific The post Nuvei Completes Live Agentic Payments Test With Visa appeared first on Fintech Singapore.

Microsoft will invest US$2.5 billion in a new AI engineering business that will deploy 6,000 experts to work with enterprise customers. The new unit, Microsoft Frontier Company, will help companies build and roll out AI systems while protecting their data and intellectual property. It will combine industry expertise, change management and AI engineering support to design and improve AI systems tied to measurable business outcomes. The unit is aimed at companies moving beyond AI pilots into larger deployments. Customers will be able to use their own data, workflows and expertise to build AI tools without giving up control of their competitive intelligence. Supporting Different AI Models Microsoft Frontier Company will support different AI models for different use cases, including models from OpenAI, Anthropic, Microsoft AI, open source providers and specialised industry models. It will also work with partners such as Accenture, Capgemini, EY, KPMG and PwC to support customers across markets and industries. Microsoft has already worked with LSEG, Land O’Lakes, Unilever and Novo Nordisk on enterprise AI projects. For LSEG, Microsoft helped add AI to LSEG Workspace so finance professionals can ask complex questions across financial content. Rodrigo Kede Lima has been appointed President of Microsoft Frontier Company. He has 30 years of industry experience and has spent the past six years at Microsoft leading enterprise transformation efforts across the Americas and Asia. Judson Althoff Judson Althoff, CEO of Microsoft Commercial Business, said the new unit is focused on helping customers improve returns from AI investments while keeping their intelligence and intellectual property protected.     Featured image: Edited by Fintech News Singapore, based on image by freepik via Magnific The post Microsoft to Invest US$2.5 Billion in New AI Engineering Unit appeared first on Fintech Singapore.

The Monetary Authority of Singapore (MAS) and China’s securities regulator have signed a staff exchange agreement to deepen supervisory ties between their capital markets. The agreement was signed at the 10th annual supervisory roundtable between MAS and the China Securities Regulatory Commission. Regulators and industry participants discussed developments in both equity markets, including Singapore’s Equity Market Development Programme and reforms to China’s STAR Market and ChiNext. The discussions also covered financial infrastructure resilience, market misconduct, technology use in enforcement, and regulatory approaches to digital assets. Industry participants shared updates on cross-border initiatives, including the ETF product link and index collaboration between Singapore and China. The staff exchange agreement aims to strengthen institutional ties and improve mutual understanding between the two regulators. Ho Hern Shin MAS Deputy Managing Director for Financial Supervision Ho Hern Shin, “The 10th Supervisory Roundtable marks a significant milestone in the longstanding partnership between MAS and CSRC. I look forward to further strengthening regulatory cooperation and advancing capital market connectivity to support the continued development of markets in Singapore and China.”     Featured image: Edited by Fintech News Singapore, based on image by Andersonrise via Magnific The post MAS and China’s Securities Regulator Sign Staff Exchange Agreement appeared first on Fintech Singapore.

The Monetary Authority of Singapore (MAS) and China’s securities regulator have signed a staff exchange agreement to deepen supervisory ties between their capital markets. The agreement was signed at the 10th annual supervisory roundtable between MAS and the China Securities Regulatory Commission. Regulators and industry participants discussed developments in both equity markets, including Singapore’s Equity Market Development Programme and reforms to China’s STAR Market and ChiNext. The discussions also covered financial infrastructure resilience, market misconduct, technology use in enforcement, and regulatory approaches to digital assets. Industry participants shared updates on cross-border initiatives, including the ETF product link and index collaboration between Singapore and China. The staff exchange agreement aims to strengthen institutional ties and improve mutual understanding between the two regulators. Ho Hern Shin MAS Deputy Managing Director for Financial Supervision Ho Hern Shin, “The 10th Supervisory Roundtable marks a significant milestone in the longstanding partnership between MAS and CSRC. I look forward to further strengthening regulatory cooperation and advancing capital market connectivity to support the continued development of markets in Singapore and China.”     Featured image: Edited by Fintech News Singapore, based on image by Andersonrise via Magnific The post MAS and China’s Securities Regulator Sign Staff Exchange Agreement appeared first on Fintech Singapore.

UPI users paying overseas could get more transparent exchange rates through NPCI’s collaboration with J.P. Morgan Payments. The two companies are working together to support real-time currency conversion and settlement for cross-border UPI payments. The integration will connect J.P. Morgan Payments’ FX platform and API capabilities with NPCI’s UPI infrastructure. It will allow transactions to be converted and settled in real time across multiple currencies. UPI, India’s instant account-to-account payment system, has been expanding beyond its home market as more countries enable acceptance for Indian travellers. Guhaprasath Rajagopal Guhaprasath Rajagopal, Head of India Payments at J.P. Morgan Payments, said, “This collaboration reduces friction in cross-border payments and connects clients to UPI’s expanding reach, while pairing it with our real-time FX capabilities and API-based integration. We’re focused on helping clients deliver better customer experiences with greater transparency, scale and control across currencies and corridors.” An NPCI spokesperson said, “UPI has set a strong benchmark for secure, seamless digital payments. By collaborating with J.P. Morgan Payments, we aim to make cross-border payments friction free, supporting Indian travelers with an experience that is instant, reliable, and trusted.” UPI is already available in nine countries, including Singapore, the United Arab Emirates, Nepal, Bhutan, Mauritius, France, Sri Lanka, Cambodia and Qatar. The tie-up is expected to support further expansion of UPI’s international footprint.     Featured image: Edited by Fintech News Singapore, based on image by starmultikharisma via Magnific The post J.P. Morgan, NPCI to Make Overseas UPI Payments More Transparent appeared first on Fintech Singapore.

Grab has completed its acquisition of US investing platform Stash Financial, according to a filing with the US Securities and Exchange Commission. The deal closed on 1 July 2026, with Grab making payment for a 50.1 percent equity interest at closing. Payments for the remaining stake will be made at fair market value over the next three years. Grab first announced the acquisition in February. The company had signed agreements to acquire 100 percent of Stash, with the initial 50.1 percent stake valued at an enterprise value of US$425 million. Stash is a US digital financial services company that offers investing, banking and financial education tools through a subscription-based app. It reportedly has more than US$5 billion in assets under management and over one million subscribers. The platform also offers AI Money Coach, a tool that provides personalised financial guidance to users. Grab previously said Stash would continue operating as a standalone brand in the US after the acquisition. It also plans to support Stash’s growth in the US market while exploring the possible introduction of its investing solutions in Southeast Asia over the longer term. The acquisition expands Grab’s financial services business beyond Southeast Asia, where it already offers payments, lending, insurance and digital banking services.   Featured image: Edited by Fintech News Singapore, based on image by Borin via Magnific The post Grab Finalises Acquisition of US Investing Platform Stash Financial appeared first on Fintech Singapore.

DBS has signed a MoU with South Korea’s Samsung Securities to establish a strategic partnership in wealth management. The collaboration pairs Samsung Securities’ presence in the Korean capital markets with the global wealth platform of DBS to broaden cross-border investment options for clients. The two financial institutions will focus on four key areas of collaboration. DBS clients will gain access to the South Korean market through investment solutions provided by Samsung Securities. In return, Samsung Securities clients will be able to tap into the multi-asset global wealth solutions offered by DBS. The firms will also explore providing joint advisory services to support clients’ global wealth management needs. Additionally, they will explore knowledge sharing and joint innovation in areas such as AI and wealth management thought leadership. As affluent clients increasingly seek professional advice to grow their wealth, the partnership is intended to broaden cross-border investment opportunities for clients of both institutions. Park Jong-moon “This partnership marks an important milestone in connecting Korean investors to global markets and bringing global opportunities to our clients,” said Park Jong-moon, President and CEO of Samsung Securities. DBS CEO Tan Su Shan noted that Asia is rapidly becoming the world’s wealth engine. She added that clients increasingly want to manage their assets seamlessly across different markets. Tan Su Shan “By bringing together Samsung Securities’ leadership in Korea’s capital markets and DBS’ global platform, we can offer clients in both markets investment opportunities of a calibre few can match across Asia and beyond,” Tan Su Shan said. She added that wealth management is just the starting point, with DBS aiming to eventually bring its full suite of corporate and wealth services to clients under this partnership.     Featured image credit: Edited by Fintech News Singapore, based on image by DBS The post DBS and Samsung Securities Partner on Global Wealth Offerings appeared first on Fintech Singapore.

Green Link Digital Bank posted a profit after tax of S$16.1 million in 2025, reversing a loss from the previous year. The bank’s 2025 financial statement showed total operating income rose to S$71.8 million, up from S$47.8 million in 2024. Net interest income increased to S$54.3 million from S$36.6 million, while net fees and commission income rose to S$2.9 million from S$1.1 million. Green Link Digital Bank said it reached profitability in September 2024 and remained profitable through 2025. The bank framed profitability as part of its effort to build a sustainable business around the needs of MSMEs, particularly in areas such as liquidity, confidence to invest and resilience in changing market conditions. The bank added that profitability could help strengthen confidence in Singapore’s digital banking sector. It plans to continue investing in solutions that make banking simpler, faster and more accessible for MSMEs in Singapore. Green Link Digital Bank is a MAS-licensed digital wholesale bank in Singapore that provides banking and financing solutions for businesses, including MSMEs.     Featured image: Edited by Fintech News Singapore, based on image by Frolopiaton Palm via Magnific   The post Singapore’s Green Link Digital Bank Posts S$16.1 Million Profit in 2025 appeared first on Fintech Singapore.

Thales has joined the Visa Digitalisation Ready Program to help financial institutions across APAC roll out new digital payment features. This move aims to accelerate the deployment of digital services by simplifying the integration process for card issuers. Initial efforts will focus on Visa’s Click to Pay and Payment Passkeys. Thales will power these services through its D1 platform, which is designed to help banks streamline implementation and deliver secure checkout experiences. This development addresses the growing demand from financial institutions for payment methods that balance user convenience with resilience against cyber threats. Demand for these emerging authentication methods reflects shifts in the region’s digital payments sector, where financial institutions are increasingly using tokenisation and passkeys alongside traditional passwords to secure transactions. By streamlining the activation of Visa’s capabilities, the partnership aims to help banks deliver frictionless transactions without compromising security. Thales designs its technology to reduce the backend complexity typically associated with these upgrades. Nassir Ghrous “As digital payments continue to evolve, issuers need a trusted technology partner that can combine innovation, security and speed to market,” said Nassir Ghrous, Vice President of Banking and Payment Services for Asia, Middle East and Africa at Thales. Through this collaboration, both companies aim to drive the adoption of digital payment services that cater to changing consumer expectations.       Featured image credit: Edited by Fintech News Singapore, based on image by Thales The post Thales Joins Visa Digitalisation Ready Program to Speed Up APAC Rollouts appeared first on Fintech Singapore.

Crypto.com has named Iskandar Vanblarcum Managing Director of its exchange as it prepares to expand into regulated prediction markets. Vanblarcum will lead the Crypto.com Exchange’s institutional growth and oversee new products and services for clients, including planned prediction market and real-world asset offerings. His immediate focus will be building an institutional-grade venue for event contracts, with plans to offer regulated access to exchange clients globally. Vanblarcum brings more than 20 years of experience across investment banking, financial market infrastructure and digital assets. He moved into digital assets in 2021 and has worked on institutional products, regulatory efforts and custody partnerships across several markets. His experience includes work linked to the EU’s Markets in Crypto Assets framework, Dubai’s Virtual Assets Regulatory Authority and licensing efforts in The Bahamas. Prior to that, Vanblarcum held senior roles at London Stock Exchange Group and Barclays Investment Bank. Iskandar Vanblarcum “Prediction markets are where derivatives were in the 1980s – institutional capital knows they belong in the portfolio and they are looking for a regulated, secure platform to access these contracts. The Crypto.com exchange already has the infrastructure – my job is to build the institutional venue that the next decade of on-chain finance deserves and continue the company’s mission to bridge traditional finance and the digital asset ecosystem,” said Iskandar Vanblarcum, Managing Director, Crypto.com Exchange. The Crypto.com exchange serves advanced traders, family offices and financial institutions, and supports USD spot trading. The exchange recently upgraded its interface to improve market analysis, trade execution and fund management. It also integrated BlackRock’s tokenised fund BUIDL, allowing institutional clients to use the asset as collateral for margin trading.     Featured image: Edited by Fintech News Singapore, based on image by muravev via Magnific The post Crypto.com Names Iskandar Vanblarcum as Managing Director appeared first on Fintech Singapore.

Mastercard has opened the fourth edition of its Innovation Circuit in Singapore to examine how AI agents, digital identity and tokenisation could reshape payments. The programme, themed “Next Lap in Payments,” is being held at the Mastercard Experience Center in Singapore, its Asia Pacific innovation hub. It brings financial institutions, fintechs, merchants and other partners through interactive sessions on agentic commerce, trusted digital identity, tokenisation, interoperability and AI-driven payments intelligence. AI Agents Enter the Payment Journey This year’s Mastercard Innovation Circuit looks at how these technologies could support more secure and seamless commerce as the industry prepares for 2030. One section focuses on digital trust and identity, including biometric onboarding, tokenised credential sharing and consent-based identity models. It also looks at how consumers could allow AI agents to act on their behalf while keeping control of their data. Another section follows a sports fan through a connected commerce journey involving ticketing, merchandise, upgrades and payments. It shows how AI-powered shopping and concierge agents could coordinate across merchants and payment methods in real time. The final section focuses on the data layer behind transactions. It shows how AI models, tokenisation and network intelligence can help detect fraud, improve approvals and generate insights while protecting privacy and security. Matthew Driver “As new technologies reshape how people discover, choose and pay, organizations need to understand how to make the commerce experience trusted, scalable and commercially viable. The Mastercard Experience Center in Singapore gives partners a practical way to connect the dots across identity, tokenisation, fraud prevention and payments innovation, and explore what those capabilities could mean for their customers, operations and growth.” said Matthew Driver, Executive Vice President, Services, Asia Pacific, Mastercard. Mastercard also plans to introduce Innovation Centers in Kuala Lumpur and Tokyo later this year, with more locations planned across Asia Pacific.     Featured image: Edited by Fintech News Singapore, based on image by ahfarhan001 via Magnific The post Mastercard Launches Its Fourth Edition of Innovation Circuit in Singapore appeared first on Fintech Singapore.

Nuvei has expanded its leadership team with the appointments of Samir Zabaneh as COO, David McLaughlin as CFO and Eli Rosner as Chief Product and Technology Officer. The appointments are aimed at bringing tighter leadership across its operating model, finance function and product technology platform. Zabaneh will oversee Nuvei’s global operating model, including its regional general manager teams, compliance, risk and underwriting functions. He was most recently Chairman and CEO of TouchBistro and has also held senior roles at Fiserv, Element Fleet Management, Global Payments and Moneris Solutions. McLaughlin will lead Nuvei’s global finance organisation, with a focus on operational discipline, sustainable growth and capital allocation. He joins from Blackhawk Network, where he served as Chief Financial Officer. He has more than 30 years of experience across payments, fintech, banking and insurance. Rosner will lead Nuvei’s global product and technology teams. His role will cover platform development, product execution, engineering and AI-related innovation. He was most recently Chief Product and Technology Officer at HealthEquity and previously held senior leadership roles at Finastra and NCR. Phil Fayer Nuvei Chair and CEO Phil Fayer said, “Businesses are operating across more markets, payment methods, and channels than ever before, and delivering for them requires strong alignment across how we build, how we operate, and how we invest. Samir, David and Eli each bring exceptional leadership experience that strengthens our ability to execute globally while continuing to scale our infrastructure for every payment, everywhere.”     Featured image: Edited by Fintech News Singapore, based on image by whyframestudio via Magnific The post Nuvei Names New COO, CFO and Product Technology Chief appeared first on Fintech Singapore.

UOB Vietnam has started construction on a US$450 million headquarters in Ho Chi Minh City. The development makes UOB the first foreign bank to develop a purpose-built headquarters within the Vietnam International Financial Centre initiative. The 36-storey office tower will serve as the bank’s flagship location in the country when it is completed in 2030. With this investment, UOB will establish its full headquarters footprint across its five core Southeast Asian markets, comprising Singapore, Malaysia, Indonesia, Thailand, and Vietnam. The bank is positioning the development to support the cross-border trade ambitions of its clients. The project aims to improve connectivity with regional capital and investment flows. Wee Ee Cheong “Vietnam is a key pillar of UOB’s regional strategy,” said Wee Ee Cheong, Deputy Chairman and Chief Executive Officer, UOB. “Our new headquarters reflects our confidence in Vietnam’s future and our support for Ho Chi Minh City’s ambition to become an international financial centre.” The facility, named UOB Plaza Ho Chi Minh City, is located in the Ba Son precinct along the Saigon River. Architecture firm Gensler designed the building to meet international Grade A specifications and target green building certification. The bank intends to establish a branch within the emerging financial zone to scale up its services. UOB Vietnam will continue working alongside government agencies and industry stakeholders to contribute to the development of the hub. The physical expansion supports the bank’s broader efforts to serve its 8.5 million customers across Southeast Asia.     Featured image credit: Edited by Fintech News Singapore, based on image by UOB The post UOB Vietnam Breaks Ground on US$450 Million Ho Chi Minh City HQ appeared first on Fintech Singapore.

Vietnamese credit scoring fintech Trusting Social returned to the red in 2025, even as revenue continued to rise. Trust IQ, its Singapore-registered parent, recorded a US$87.5 million net loss for the year, DealStreetAsia reported, citing filings with Singapore’s Accounting and Corporate Regulatory Authority. Trusting Social provides credit scoring and data analytics services that help financial institutions assess consumers with limited traditional credit history. The result compares with a US$33.8 million profit in 2024 and a US$31.9 million loss in 2023. Revenue reached US$23.1 million in 2025, up from US$21.2 million a year earlier and US$18.1 million in 2023. A revaluation of financial liabilities weighed heavily on the results. Trust IQ booked a US$77.6 million fair value loss on those liabilities in 2025, compared with a US$41.8 million gain from the same item a year earlier. Liabilities Climb as Assets Decline Trust IQ’s assets fell to US$44.8 million at the end of 2025 from US$54.8 million a year earlier. Liabilities climbed to US$201.6 million from US$123 million, while cash stood at US$23.4 million. Filings indicate that the company expects to have enough funds to operate for at least 12 months from the date of the financial statements, helped by its 2022 funding and about US$27 million in net current assets. The 2022 funding refers to a US$65 million Series C round, the first tranche of a planned US$105 million investment from Vietnamese conglomerate Masan Group. The transaction was expected to give Masan a 25% stake in Trusting Social. Trusting Social had raised about US$44 million before Masan’s investment, with earlier backers including Sequoia Capital, now Peak XV, BEENEXT, 500 Global and Tanglin Ventures. Distribution and marketing costs declined to US$8.6 million in 2025 from US$10.3 million, while administrative expenses increased 20% to US$24.1 million. Vietnam contributed the largest share of Trusting Social’s revenue, ahead of the Philippines and Indonesia. The company says it has scored more than 1 billion consumers and works with over 130 financial institutions.     Featured image: Edited by Fintech News Singapore, based on image by freepik via Magnific   The post Trusting Social Parent Firm Posts US$87.5 Million Loss in 2025 appeared first on Fintech Singapore.

A consortium of over 100 partners, including Visa, Mastercard, and Stripe, has formed Open Standard to launch a new stablecoin named Open USD (OUSD). The digital asset will share its reserve income with participating businesses, as reported by The Block. Open Standard will allow businesses to mint and redeem the stablecoin without fees or volume limits. An independent organisation will manage Open USD with governance shared among partner companies, replacing the traditional model of a single central issuer. The initiative includes financial institutions such as BlackRock and Standard Chartered, technology providers like Google, and crypto firms including Coinbase. Companies that join the consortium will use the stablecoin as a core payment asset, receiving technical support and earning revenue based on its adoption. Zach Abrams “Existing stablecoins have great strengths, but to use them at scale, businesses need something that’s open, low-cost, high-throughput, broadly accessible, and aligned to their interests. We’re thrilled to bring together over 140 businesses to launch Open USD.” Zach Abrams, Founding CEO of Open Standard, said.     Featured image credit: Edited by Fintech News Singapore, based on image by smartmalik6384 via Magnific The post Visa and Stripe Join Over 100 Partners to Launch Open USD Stablecoin appeared first on Fintech Singapore.

Microsoft is weighing fresh layoffs that could affect thousands of employees across its global workforce, according to Business Insider. The planned reduction is expected to stay below 2.5% of staff, making it smaller than last year’s cuts. Sales, consulting and Xbox roles are expected to be among the areas affected. Microsoft is trying to manage costs while increasing its spending on artificial intelligence (AI). The company began its new fiscal year on 1 July, a period when it has previously made workforce changes. Business Insider said an announcement could come as soon as next week, although the timing may change. Some employees could be shifted into other positions. Microsoft cut about 6,000 jobs in May last year and another 9,000 in July. The latest plan follows a voluntary retirement programme offered to some US employees earlier this year. The offer applied to staff at level 67 and below whose age and years of service reached at least 70. About a third of those eligible accepted it, while commission-based sales staff were excluded, according to the report. Microsoft shares fell sharply in June as investors weighed the company’s AI spending plans and the possible disruption of traditional software businesses. Featured image: Edited by Fintech News Singapore, based on image by hryshchyshen via Magnific The post Microsoft Said to Weigh Thousands of Layoffs Amid AI Spending Push appeared first on Fintech Singapore.

OCBC has introduced an AI avatar banking app for selected wealth customers in Singapore. The beta version of OCBC WoW will first be offered by invitation to employees and customers served by OCBC Premier Private Client wealth advisors. These customers have at least S$1.5 million in assets under management with the bank. OCBC WoW features two avatars, Wendy and Wayne, who can interact with customers through voice or text. The app shows customers their investment portfolios, provides personalised market news and data, and shares OCBC Group insights and investment ideas across markets, geographies, currencies and themes. It can also analyse portfolios, highlight exposures and risks, and show how market developments may affect a customer’s holdings. OCBC expects this to help customers make more informed investment decisions while giving its wealth advisors a clearer view of client needs. Tan Teck Long Tan Teck Long, Group CEO, OCBC said, “Starting with wealth management, we are transforming how we engage customers with the use of avatars and hyper-personalisation on a real-time basis, 24/7. The ability to roll out new features in quick succession in a viable manner is made possible because of an AI-native environment. Hyper-personalisation goes from being a buzz word to being a reality with intelligence built into the foundation. With ADD – AI, Digital, Data – at the core of our growth push, we are very excited that OCBC WoW is only the beginning.” The app is built on an AI-native environment that brings together real-time market data, OCBC research, customer portfolio information, transaction data and behavioural insights. It also uses AI guardrails and agents to support the information shown to customers. OCBC WoW currently offers curated market news, price data from seven indices and commodities, OCBC house views, portfolio tracking and investment ideas based on a customer’s profile and risk appetite. The bank plans to expand market price data coverage to 12 indices and commodities over time. Wendy and Wayne will initially engage customers in English. OCBC plans to add Mandarin, Bahasa Melayu and Bahasa Indonesia later, along with insurance solutions, banking services, more avatars and lifestyle-related rewards. A wider rollout of OCBC WoW is expected later, with the timing to be announced.     Featured image: Edited by Fintech News Singapore, based on image by Dmitry Akreev via Magnific The post OCBC Pilots AI Avatar Banking App for Clients With Over S$1.5 Million AUM appeared first on Fintech Singapore.

UOB is exploring how quantum computing could make derivatives valuation faster and more scalable. The bank has partnered Singapore’s Centre for Quantum Technologies to test how quantum methods could help value complex financial products such as options, futures and swaps. Banks use these products to manage market and financial risks, but pricing them can require heavy computing power when standard methods are not practical. Today, banks often rely on Monte Carlo simulations, which run thousands of possible market scenarios to estimate fair value. This can be slow and resource intensive for more complex products. Lawrence Goh Lawrence Goh, Head of Group Technology and Operations at UOB, said, “As financial markets become more complex, the need for faster and more accurate risk modelling continues to grow. By investing early and building a clear deployment roadmap, we are laying the foundation for the next generation of banking capabilities – where research and innovation are translated into practical solutions that strengthen risk management and resilience, catalyse scale, and provide long-term value to our customers.” UOB and CQT will study whether quantum computing can handle these scenarios more efficiently under certain conditions, while improving valuation accuracy and risk modelling. Researchers from CQT at the National University of Singapore will work on the project with support from the National Quantum Computing Hub. Dr Patrick Rebentrost Dr Patrick Rebentrost, Principal Investigator at CQT and Associate Professor in the NUS Department of Computer Science, said, “We know in theory that quantum computing could help with the difficult task of pricing financial derivatives. The collaboration with UOB is an opportunity to advance that theory into practice, testing our methods against real-world scenarios. We will develop beyond-Monte Carlo quantum techniques that could significantly improve our ability to evaluate complex risk scenarios.” The first phase will focus on path-dependent instruments, where pricing depends on several market variables and past price movements. These are among the harder derivatives to value using traditional methods. The project follows Singapore’s National Quantum Strategy, announced in 2024. CQT and the National Quantum Computing Hub are both supported under the strategy.     Featured image: Edited by Fintech News Singapore, based on image by mrsiraphol via Magnific   The post UOB Explores Quantum Computing to Speed Up Derivatives Valuation appeared first on Fintech Singapore.

DCSPay has signed an MOU with Nexus to explore token payments and stablecoin settlement across the CROSS ecosystem. Nexus is a South Korean KOSDAQ-listed company behind the CROSS blockchain gaming ecosystem. The agreement comes as Nexus expands its Web3 gaming and digital content business after moving to acquire an approximately 89% controlling stake in ONE Store, a South Korean app marketplace with more than 38 million users. DCSPay and Nexus will explore support for CROSS and CROSSD payments, as well as settlement using stablecoins such as USDT and USDC. This could allow merchants and users in the CROSS ecosystem to transact using digital assets. DCSPay is a stablecoin payments platform backed by DCS Group and operated through DCS Fintech (Hong Kong) Limited. “Nexus is building one of the most exciting digital ecosystems in Asia, and we’re proud they’ve chosen DCSPay as their payment infrastructure partner. Gaming is emerging as one of the strongest real-world use cases for digital assets, and we’re excited to help leading platforms like Nexus bring secure, compliant payment experiences to millions of users,” said Sean Dong, Senior Director of Business Operations, DCSPay. The companies will also assess opportunities across DCS Group’s wider payments ecosystem, including possible card programmes and other services. Henry Chang “Our vision is to make blockchain technology useful beyond the digital world. Partnering with DCSPay enables us to explore new payment experiences that connect the CROSS ecosystem with merchants and consumers through trusted payment infrastructure.” said Henry Chang, CEO of Nexus. Nexus built the CROSS Gamechain in 2025 and provides developer tools, wallets, marketplaces and explorers for blockchain gaming projects.     Featured image: Edited by Fintech News Singapore, based on image by Frolopiaton Palm via Magnific The post South Korea’s Nexus Taps DCSPay for Gaming Stablecoin Settlement appeared first on Fintech Singapore.