Singapore has unveiled a S$1 billion plan to expand its artificial intelligence (AI) research and engineering capabilities. The initiative is part of a broader effort to strengthen domestic expertise and improve the commercial application of AI technologies, according to The Edge. The funding will be deployed under the National AI Research and Development Plan, which will run from 2025 to 2030. The programme is expected to support core research in areas such as AI safety and resource efficiency, while also working with industry partners to accelerate the adoption of AI across key sectors. A key focus of the plan is to build engineering capacity that can translate academic research into practical systems and applications. This includes strengthening capabilities across the technology stack, from hardware design to software deployment. Part of the allocation will be directed towards existing initiatives, including the AI Visiting Professorship, which aims to attract leading international researchers to collaborate with local universities and research institutes. The new funding is separate from earlier government commitments. In 2024, the Ministry of Digital Development and Information announced that more than S$1 billion would be invested over five years to secure AI compute resources, support talent development and grow the domestic AI industry. Singapore has also introduced the world’s first Model AI Governance Framework for Agentic AI to guide the responsible deployment of autonomous systems.     Featured image: Edited by Fintech News Singapore, based on images by s.m.al_ferdous and mrsiraphol via Freepik The post Singapore Unveils S$1 Billion Plan to Expand AI Research and Engineering appeared first on Fintech Singapore.

Japanese insurer Tokio Marine has invested US$5 million for a minority stake in Singapore-based insurtech startup Igloo, according to a regulatory filing. The investment gives Tokio Marine a 1.65% stake in Igloo, formerly Axinan, confirming a report by DealStreetAsia. Filings with Singapore’s Accounting and Corporate Regulatory Authority (ACRA) show that the insurer acquired 493,984 shares at US$10.12 each. The investment adds Tokio Marine to Igloo’s cap table alongside Openspace Ventures, Cathay Innovations, Blue Orchard and FinnFund. Sources previously told DealStreetAsia that Tokio Marine views Indonesia as a priority market. The insurer is seeking to scale its retail insurance business in the country. The group already has a presence in Indonesia’s property and general insurance segment. It is now shifting its focus towards technology-led and embedded insurance, working with digital-native partners. In September, reports said Tokio Marine anchored an extension round of Indonesian insurtech PasarPolis, estimated at around US$5 million. Its involvement underscores growing Japanese institutional interest in Indonesia’s fintech and insurtech sectors. Igloo operates across eight Southeast Asian markets and says it has facilitated more than 600 million insurance policies. Its most recent fundraising in December 2023 raised over US$26 million, bringing total equity funding to US$79.19 million since its launch in 2016. The company has expanded into climate resilience insurance, offering embedded, data-driven protection against risks such as floods, fires and extreme weather. It has also formed a joint venture with Thailand’s JMT Network Service to launch a fully digital insurer. The company plans to replicate this model in Indonesia and the Philippines. Regulatory filings show that Igloo’s net loss widened by 11% to US$21.8 million in 2024, up from US$19.66 million in 2023. Losses increased despite strong revenue growth driven by its third-party administration (TPA) business. Revenue rose 49% to US$55.46 million from a restated US$37.14 million. The increase was supported by a near threefold rise in TPA revenue to US$39.72 million. The company expects to reach breakeven by early next year. Igloo competes with PasarPolis, Qoala and Singlife in the region.     Featured image credit: Edited by Fintech News Singapore, based on image by lekhawattana via Freepik This article first appeared on Fintech News Hong Kong The post Tokio Marine Invests $5M in Igloo appeared first on Fintech Singapore.

PayPal is set to acquire Cymbio as it moves to expand its agentic commerce services across AI-powered shopping platforms. Financial terms were not disclosed. The acquisition builds on PayPal’s existing partnership with Cymbio, which has supported its agentic commerce services. PayPal said its agentic commerce services and checkout options are available for merchants on Microsoft Copilot and Perplexity, with OpenAI’s ChatGPT and Google’s Gemini app and AI Mode coming soon. Cymbio’s team and technology will support Store Sync, a PayPal service that makes merchants’ product data discoverable and routes orders to existing fulfilment and management systems. PayPal said merchants will remain the merchant of record and retain customer relationships and control over their brand. Abercrombie & Fitch, Fabletics, Ashley Furniture, Newegg and Adorama are currently live with Store Sync on Microsoft Copilot and Perplexity. Founded in 2015 and headquartered in Tel Aviv, Cymbio works with brands on multi-channel commerce enablement, including marketplaces. The transaction is expected to close in the first half of 2026, subject to customary closing conditions. Michelle Gill “PayPal has established itself as a leading commerce partner for merchants looking to sell within top AI platforms. Acquiring Cymbio’s technology and team will enhance our agentic commerce capabilities and accelerate the expansion to more of our merchants. By making their product catalogs discoverable on AI surfaces, merchants can increase sales while expanding product choice to the millions of consumers shopping on AI platforms today.” said Michelle Gill, Executive Vice President and General Manager of Small Business and Financial Services at PayPal.     Featured image: Edited by Fintech News Singapore, based on image by graphiccrew via Freepik The post PayPal to Acquire Cymbio in AI Agentic Commerce Push appeared first on Fintech Singapore.

Juspay has raised US$50 million in a Series D follow-on investment from WestBridge Capital, in a deal that values the payments infrastructure firm at US$1.2 billion. The round includes both primary and secondary funding. The secondary portion will provide liquidity for early investors and employees holding stock options, marking the second such liquidity event the company has enabled within the past year. The funding comes after a year of growth for Juspay, with annualised total payment volume now exceeding US$1 trillion. The company processes more than 300 million transactions daily for clients including Agoda, Amazon, Flipkart, Google, HSBC, IndiGo, Swiggy, Zepto and Zurich Insurance. Juspay operates across Asia-Pacific, the Middle East, Latin America, Europe, the UK and North America, and provides payment infrastructure to enterprises, merchants, banks and networks. The company positions its platform as open-source, interoperable and modular, and said the new funding will support its international expansion and product development, including efforts to improve workforce productivity and merchant experience through AI. Sheetal Lalwani Sheetal Lalwani, Co-founder and COO of Juspay, said, “Our focus over the last decade has been on solving the core complexities of global payments through first-principles engineering & design. As we scale globally, we are grateful for the continued trust of our partners. This round reflects our growth and provides liquidity opportunities for our early investors and team members who have been part of this journey. We welcome WestBridge Capital as a partner as we build the next generation of payments infrastructure.”     Featured image: Edited by Fintech News Singapore, based on image by mkmult via Freepik The post Juspay Secures US$50 Million Funding at US$1.2 Billion Valuation appeared first on Fintech Singapore.

Thailand’s fintech market value has been on the rise over the past decade, supported by the public sector. The Thailand 4.0 scheme, launched by the government in 2016, is an economic development plan aimed at transforming the country’s economy from traditional agriculture and heavy industry toward a high‑income, innovation‑driven, technology‑centric “value‑based economy.” Fintech plays a key part in this strategy, supporting the digital economy, financial inclusion, and smart banking. With fintech continuing to advance in Thailand, many conferences are being scheduled in the country, attracting industry leaders from around the world to explore local fintech opportunities while also addressing emerging challenges. Among these events, the following nine stand out as the most significant gatherings in 2026, expected to bring together top decision-makers, regulators, and innovators to shape the future of the sector. Top Fintech Events to Attend in Thailand in 2026 Cybersec Asia 2026 x Thailand International Cyber Week 2026 February 04-05, 2026 Plenary Hall 1-4, QSNCC, Bangkok, Thailand   Cybersec Asia 2026, held alongside Thailand International Cyber Week 2026, will take place on February 04-05, 2026 at Plenary Halls 1-4 of the Queen Sirikit National Convention Center (QSNCC) in Bangkok, Thailand. Organized by VNU Asia Pacific in association with the National Cyber Security Agency (NCSA), the event aims to serve as a regional platform for IT security, data management, and cloud solutions across the CLMVT and broader Asia-Pacific markets. The conference and exhibition are expected to welcome more than 4,000 visitors, over 100 speakers, and 140 exhibitors from 15 countries across 1,800 square meters of exhibition space, with a mix of 40% international and 60% local participation. It will bring together cybersecurity professionals, technology providers, government stakeholders, and business leaders to explore current challenges and practical solutions shaping the future of digital security. The conference program will feature 90 sessions and 120 speakers from 12 countries, covering cybersecurity strategy, human risk management, cloud and infrastructure protection, data protection and privacy, identity and access management, resilience and recovery, governance, innovation, and emerging technologies. Participants will hear from leading organizations including ACER Cyber Security, CompTIA, Nextwave, Zoho Corporation, Palo Alto Networks, and Google Cloud Security, and engage with partners such as EC-Council, CREST, and NECTEC. They will also benefit from hands-on demos, workshops, competitions, hackathons and interactive technical sessions, along with opportunities to meet top buyers and industry leaders. For the first time, Cybersec Asia will be co-located with AI Asia 2026, highlighting developments in AI infrastructure, cloud platforms, data systems, and applied AI solutions that support enterprise transformation. Together, the two events are expected to provide a comprehensive view of how cybersecurity, AI, and digital infrastructure intersect. FutureCFO Thailand Conference 2026 February 12, 2026 Crowne Plaza Bangkok, Bangkok, Thailand FutureCFO Thailand Conference 2026 will take place on February 12, 2026 at the Crowne Plaza Bangkok, bringing together senior finance leaders to examine how the finance function can balance growth, efficiency, and risk management in an increasingly uncertain environment. Now in its fourth year, this year’s edition will be held under the theme “Forging Future Advantage” and focus on helping CFOs and finance executives sharpen strategy, improve forecasting accuracy, and drive enterprise-wide cost optimization while identifying new sources of value. Across a full-day program of keynotes, panels, and executive interviews, industry practitioners and technology leaders will share practical approaches to guiding organizations toward new revenue opportunities, managing risk with confidence, and preparing for major business initiatives. A strong emphasis will be placed on the growing role of AI and automation in finance, including the use of autonomous agents, advanced analytics, continuous planning, and digitally self-sufficient finance operations. Sessions will also examine how to evaluate AI investments, achieve measurable returns, and integrate AI across workflows to improve decision-making and operational efficiency. Cost optimization will be another central theme, with discussions focused on balancing investment in innovation with financial discipline, redesigning processes for sustainable savings, and using technology to enhance productivity. Additional sessions will address regulatory and compliance readiness, governance and risk management, sustainability and ISSB-aligned reporting requirements, organizational resilience, and the evolving skills needed in modern finance teams. Confirmed speakers in 2026 include: Allan Tan, Group Editor-in-Chief, CXOciety; Alvin Liew Voon Siong, CFO Thailand, OCS; Ashok Jhanwar, Head of Finance, Kenvue; Ishant Agarwal, Finance Director (Thailand and Vietnam Cluster), Mead Johnson; Kanyaratana Chok-oon-kit, Chief Strategy and Financial Officer, The Mall Group Co., Ltd.; Keith Tan, Regional Senior Strategic Consultant, Tungsten Automation; Kreetakorn Siriatha, Group CFO, Minor Food Group PCL; Laurent Richer, Group CFO, SEA Connect (FazWaz, Dot Property, Lamudi); Pijittra (Gigi) Trirattanathada, CFO & Member of Executive Committee, Aurora Design Public Company Limited; Punrada Lertkomonsuk, CFO, B. Braun Thailand; Shameek Bhushan, Senior Vice President – JustPerform, insightsoftware; Sreenadh Ambarkhana, Head of Governance, Risk and Compliance, True Corporation PCL; Steven Siew, Editorial Consultant, CXOciety; Sudwin Panyawongkhanti, CFO, Jenkongklai Public Company Limited (JPark); Vinnie Tangsirikusolwong, FMCA, CGMA, SEVP, Strategy and Operation Group, Krung Thai Asset Management; and Yogesh Gopalkrishnan, Finance Director, Thailand & Malaysia, GSK. Thailand Wealth Management Forum 2026 March 10, 2026 Waldorf Astoria Bangkok, Thailand The Thailand Wealth Management Forum 2026 will take place on March 10, 2026, at the Waldorf Astoria Bangkok, bringing together the country’s private banking and wealth management community for a focused, one-day exchange of strategy, insights, and industry best practice. Recognized as a leading annual gathering for the sector, the forum aims to convene senior decision-makers to examine how Thailand’s wealth industry is evolving as client expectations grow more sophisticated and cross-border financial needs become more complex. With more than 20 speakers and over 200 senior practitioners expected to attend, the program will combine presentations and panel discussions that reflect on the significant regulatory, tax, and market changes seen across 2024 and 2025 and assess the opportunities and challenges for 2026. The forum will explore how firms are adapting their business models to deliver more advisory-led, relationship-driven services, strengthen client-centric propositions, and build scalable offerings for the expanding mass affluent and emerging high-net-worth (HNW) segments. A central focus will be the increasing globalization of Thai wealth. Many HNW families are diversifying assets overseas, managing multiple domiciles, and pursuing cross-border estate and succession planning. In response, wealth managers are developing more sophisticated global investment, structuring, and tax-planning capabilities to meet these multi-jurisdictional needs. At the same time, the forum will examine how digital transformation and fintech innovation are reshaping the industry, with firms investing in AI-driven analytics, automated and hybrid advisory models, enhanced CRM systems, and seamless digital platforms to improve efficiency and personalize client engagement. Discussions will also address the operational and regulatory headwinds facing the sector, including stricter compliance requirements, evolving tax frameworks, product approvals, and the constraints of legacy systems. Additional attention will be given to rising client demand for sustainable and environment, social and governance (ESG) investments, digital assets, alternative strategies, and more transparent reporting, all of which require greater agility and innovation from wealth firms. Beyond knowledge sharing, the forum will provide a structured environment for networking and collaboration, enabling participants to exchange ideas, build partnerships, and benchmark their strategies against leading institutions. Money20/20 Asia 2026 April 21-23, 2026 Queen Sirikit National Convention Center (QSNCC), Bangkok, Thailand Money20/20 Asia 2026 will take place from April 21-23, 2026 at the Queen Sirikit National Convention Center (QSNCC) in Bangkok, bringing together leaders from across banking, payments, fintech, technology, retail, financial services, and policy. Recognized as Asia’s leading fintech gathering, the event aims to serve as a regional hub where global and local decision-makers meet to exchange ideas, form partnerships, and drive business across the money ecosystem. The three-day conference is expected to attract more than 4,000 attendees, including a high proportion of senior executives, with one in three participants at C-suite level. Over 1,200 companies from more than 75 countries will be represented, alongside 350 speakers, 130 sponsors, more than 120 regional and local banks, and 200 media organizations. The 2026 program will features keynote presentations, panels, and industry discussions focused on the technologies and strategies reshaping financial services. Topics will include the modernization of traditional banking systems, digital transformation, AI-driven financial services, payments innovation, wealthtech, compliance, and sustainable finance. Money20/20 Asia will also highlight forward-looking fintech trends and predictions for 2026, examining how emerging technologies, new business models, and regulatory developments could redefine the future of money. Speakers include senior leaders from organizations such as Silverlake Group, IBM, Bolttech, Coinbase, GCash, Revolut, and WeLab. Beyond the conference, the event will also provide dedicated initiatives designed to foster connections and growth. The Startup and Investor Park will connects early-stage companies with capital and strategic partners, while regional summits across Southeast Asia will extend engagement with local fintech ecosystems. Meanwhile, programs such as RiseUp will support greater diversity and inclusion by creating mentorship and visibility opportunities for women in fintech. Asian Banking and Finance and Insurance Asia Summit – Thailand April 28, 2026 Bangkok, Thailand The Asian Banking and Finance and Insurance Asia Summit – Thailand will take place on April 28, 2026, in Bangkok. The summit aims to serve as a key platform to address the opportunities and challenges in achieving sustainable profitability in the banking, finance, and insurance industries amidst rising rates, evolving regulations, and technological disruption. With the theme “Smart Finance Thailand: Precision Profitability, Pricing Discipline and Customer Value in the Digital Era,” this year’s summit will bring together financial and insurance leaders to explore how digital innovation, profitability strategies, and operational transformation are reshaping Thailand’s financial services landscape.Discussions will span AI and analytics in underwriting and claims automation, insurtech innovation, ESG finance, and the readiness of virtual banks in Thailand. Attendees will also gain insights into cybersecurity resilience, wealth management trends, and data sovereignty in an increasingly interconnected financial ecosystem. They will also get to engage directly with Thailand’s leading banking and insurance executives, policymakers, and technology innovators. Confirmed speakers in 2026 include: Karin Boonlertvanich, Ph.D., CAIA, CAP, FRM, Executive Vice President, Corporate Strategy and Innovation Division Head, Kasikornbank Public Co. Ltd.; Christopher Saunders, Partner, Head of Advisory, Head of Financial Services, KPMG Thailand; Representative, Representative, Black Rock; Amber Chang, AVP, Business Development, Systemweb Technology; Pattarakit Saingarm, Assistant Vice President of Enterprise Data and AI Strategy, Kasikornbank (KBank); and Dr. Silvio Struebi, Partner, Simon-Kucher. DigiTech ASEAN Thailand 2026 July 22-24, 2026 Hall 9-10, IMPACT Exhibition and Convention Centre, Bangkok, Thailand DigiTech ASEAN Thailand 2026 will be held from July 22 to 24, 2026, at Hall 9-10 of the IMPACT Exhibition and Convention Centre in Bangkok. Positioned as a regional “Digital Solutions for Business” exhibition and networking platform, the event aims to connect technology providers with businesses and buyers from across Southeast Asia and international markets. The show will present the latest developments across business software, cybersecurity, e-commerce and digital marketing, data and cloud services, smart solutions and the Internet of Things. The AI segment will highlight practical applications of AI in areas such as customer service automation, sales and marketing optimization, supply chain and logistics management, human resources, finance and accounting, product development, IT security, customer analytics, energy management, and compliance. Beyond the exhibition floor, the event will includes a comprehensive program of conferences, technology presentations, and workshops that address current challenges, emerging trends, and market opportunities. Participants will get to attend masterclasses and certification courses designed to upgrade digital skills, as well as structured business matching sessions that arrange pre-scheduled meetings between buyers and exhibitors. DigiTech ASEAN Thailand 2026 will be co-located with AI Connect 2026, a focused showcase on AI for business, and is hosted by Thailand’s Ministry of Digital Economy and Society. The exhibition is expected to feature more than 400 technology and digital solution providers and attract over 12,000 trade attendees and buyers seeking tools to support digital transformation. Techsauce Global Summit 2026 August 27-29, 2026 Queen Sirikit National Convention Center (QSNCC), Bangkok, Thailand The Techsauce Global Summit 2026 will take place from August 27 to 29, 2026, at the Queen Sirikit National Convention Center in Bangkok. Recognized as one of Southeast Asia’s largest tech and startup gatherings, the summit will bring together founders, investors, corporates, and tech leaders to foster collaboration, investment, and business growth across the region. This year’s three-day program will provide a comprehensive platform for networking, knowledge exchange, and deal-making. Discussions will address emerging technologies, market trends, and real-world challenges, providing practical insights for startups and established enterprises alike. Attendees will also have access to more than 30 interactive workshops that focus on hands-on learning and skill development. In addition to its conference content, the summit will facilitate direct business opportunities through structured one-on-one matching sessions that connect companies with potential partners, customers, and investors. A large exhibition area will showcase over 200 technology providers and startups presenting new products and solutions, while a series of side events throughout the week extends networking and engagement beyond the main stages. More than 20,000 participants are expected to attend the Techsauce Global Summit 2026, alongside over 400 speakers and more than 130 sessions across 10 stages. Finance ReImagined Thailand 2026 September 10, 2026 Bangkok, Thailand Finance ReImagined Thailand 2026, taking place on September 10, 2026, will bring together over 150 CFOs, senior finance leaders, industry experts, and technology specialists for a full day of high-level discussions, executive insights, and valuable networking within Asia’s leading accounting and finance community. As Thailand accelerates its economic transformation, Bangkok is emerging as a critical hub for regional finance, innovation, and enterprise leadership. With 2026 set to be shaped by digitalization, regulatory evolution, and increasing global scrutiny, Thai organizations are navigating a landscape defined by cost volatility, geopolitical uncertainty, the rapid rise of AI, and growing expectations around sustainability and ESG reporting. In this environment, CFOs are being challenged to balance financial performance with technology adoption, data-driven decision-making, and transparent, credible sustainability outcomes. Rebranded from the DigitalCFO Asia Thailand Symposium, Finance ReImagined Thailand reflects the expanding role of the modern CFO, from financial steward to strategic architect, AI enabler, and sustainability champion. Under the theme “Transforming Strategy, Inspiring Leadership and Delivering Impact,” the conference will explore how finance leaders can leverage AI for smarter forecasting, risk management, and productivity while strengthening governance and meeting rising demands for ESG reporting. The 2026 edition will offer an immersive and interactive experience, placing a strong emphasis on high-quality peer engagement. Delegates will experience deeper breakout roundtable discussions that enable candid, off-the-record exchanges, alongside enhanced networking opportunities throughout the day, including a dedicated networking luncheon and relaxed after-event networking drinks, creating multiple opportunities to build meaningful connections with fellow CFOs and senior finance leaders. Fintech Revolution Summit 2026 September 30, 2026 Carlton Hotel Bangkok Sukhumvit, Thailand Fintech Revolution Summit 2026, taking place on September 30, 2026, will bring together Thailand’s leading banking executives, regulators, startup founders, and global fintech innovators to explore the future of digital finance in Southeast Asia. From AI-driven payments and embedded finance to open banking, blockchain solutions, and digital lending, the summit will showcase strategies that are shaping the nation’s digital economy. Over the course of the day, participants will engage with 200+ pre-screened delegates from leading banks, insurance firms, microfinance institutions, credit unions, and regulatory bodies. The event will feature keynote presentations, one-to-one business meetings, and an exhibition area with 25 sponsors and solution providers showcasing the latest technologies in payments, digital finance, and the banking, financial services, and insurance (BFSI) industry. The summit will also provide unparalleled opportunities to connect with industry decision-makers, showcase innovations, launch new products, and build meaningful partnerships. Themes will include regtech, wealthtech, digital payments, digitalization, crypto and blockchain, digital lending, financial inclusion, AI, and open banking.   Featured image: Edited by Fintech News Singapore, based on image by tonefotografia via Freepik The post Top 9 Fintech Events to Attend in Thailand in 2026 appeared first on Fintech Singapore.

Nium’s latest financial results highlight the difficulty late-stage fintech firms face in converting scale into profitability, even as transaction volumes continue to rise. The Singapore-based payments company narrowed its net loss marginally to S$88.1 million in 2024, according to regulatory filings reviewed by DealStreetAsia, but remained firmly in the red after absorbing a sharp increase in operating costs. Total expenses climbed to S$267.8 million, driven largely by higher processing charges, which jumped to S$87.8 million during the year. The increase reflects the structural cost of running cross-border payment infrastructure as volumes expand across multiple markets. Revenue grew 13.3% to S$167.2 million, supported by stronger transaction activity as well as incremental gains in interest income and foreign exchange margins. However, the pace of growth was not sufficient to materially alter the company’s loss profile. Nium reduced spending in several discretionary areas. Employee compensation declined to S$97.1 million from S$114.1 million, while advertising and promotion costs fell sharply to S$5.1 million from S$15.6 million. Travel, commission and administrative expenses also trended lower. The financial performance follows a valuation reset in June 2024, when Nium raised US$50 million in a Series E round led by Brunei Investment Agency at a valuation of about US$1.4 billion, down from its 2021 fundraising when it raised US$200 million. The company has also deferred its initial public offering. Reports last year indicated that Nium pushed back its planned US listing to late 2026 from mid-2025 as it focuses on strengthening leadership and expanding revenue scale. It subsequently appointed former Credit Suisse banker Andre Mancl as Chief Financial Officer. Nium continued to expand its regulatory footprint in 2024, securing approvals in markets including Japan, India and New Zealand. It also received authorisation from Brazil’s central bank to operate as a payment institution. As of end-2024, Nium reported consolidated assets of S$804.5 million, slightly lower than the previous year, while total liabilities rose to S$722.3 million. Total equity declined to S$82.3 million from S$105.3 million in 2023, reflecting accumulated losses. Founded in 2014, Nium provides cross-border payments, card issuing and embedded finance services to banks, fintech firms and enterprises globally.     Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik   The post Nium Narrows Annual Loss to S$88.1M Amid Double-Digit Revenue Growth appeared first on Fintech Singapore.

SCBX has stepped up its partnership with KakaoBank and WeBank Technology Services as the three groups move ahead with plans to launch a virtual bank in Thailand. The group said the partners have formalised a tri-party collaboration to combine their capabilities and prepare for the next phase of development. The project is aimed at building a fully digital bank focused on improving access to financial services for individuals and small businesses in the Thai market. Under the partnership, SCBX will contribute its local market expertise and experience in large-scale financial operations. KakaoBank will bring its track record in running a mobile-first digital bank, including product development and customer experience design. WeBank Technology Services will support the initiative with its digital banking infrastructure and technology, including artificial intelligence capabilities. The partners said artificial intelligence (AI) will be embedded into the bank’s core systems from an early stage, with the aim of improving personalisation, service efficiency and data-driven decision-making. Arthid Nanthawithaya Arthid Nanthawithaya, Chief Executive Officer of SCBX, said, “This collaboration reflects our belief that the future of banking must be more inclusive, more accessible, and driven by technology with purpose. By working closely with KakaoBank and WeBank Technology Services, we are advancing the development of a virtual bank designed to close longstanding gaps in financial access, elevate customer experience through simpler digital services, and bring meaningful innovation to Thailand’s financial ecosystem in support of sustainable growth.” The three companies said they will continue joint work on technology development, service design and operational readiness as the project moves toward implementation.   The post SCBX, KakaoBank and WeBank Move Forward With Thai Virtual Bank appeared first on Fintech Singapore.

Singapore has launched the Model AI Governance Framework for Agentic AI, which is the first in the world to include a comprehensive guide for enterprises to deploy agentic artificial intelligence responsibly. Minister for Digital Development and Information Josephine Teo announced the framework at the World Economic Forum, with the Infocomm Media Development Authority leading its development. The new framework builds on Singapore’s original Model AI Governance Framework introduced in 2020 and focuses specifically on agentic AI systems that can reason and take actions on behalf of users. Unlike traditional or generative AI, agentic systems can perform tasks with a higher degree of autonomy, such as updating databases, processing transactions or making payments. While this creates opportunities to automate routine work and improve productivity, it also introduces new risks, particularly around access to sensitive data, unauthorised actions and challenges in maintaining effective human oversight. IMDA said this includes risks such as automation bias, where users may over-trust systems that have performed reliably in the past. Managing risks and maintaining human accountability The framework is designed to help organisations understand and manage these risks by combining technical and organisational measures. It emphasises that humans remain ultimately accountable for the actions of AI agents and that meaningful human control should be maintained throughout the system’s lifecycle. The framework targets organisations deploying agentic AI, whether through in-house development or third-party solutions, and outlines four main areas of focus. These include assessing and bounding risks upfront by selecting appropriate use cases and limiting system autonomy, defining checkpoints that require human approval, especially for irreversible actions such as making payments, implementing technical controls such as baseline testing and restricting access to whitelisted services, and enabling end-user responsibility through transparency, education and training. IMDA noted the framework was developed with input from both government agencies and private sector organisations and is intended to function as a living document that will evolve as new use cases and risks emerge. The authority has invited organisations to submit feedback and case studies on responsible deployments. It also plans to release additional guidelines focused on testing agentic AI applications for safety and reliability, building on its existing Starter Kit for testing large language model-based applications. The initiative forms part of Singapore’s broader efforts to build a trusted AI ecosystem. The country is working with regional and international partners through platforms such as the AI Safety Institute and is leading the ASEAN Working Group on AI Governance, alongside domestic tools including AI Verify and related testing frameworks.     Featured image: Edited by Fintech News Singapore, based on images by Frolopiaton Palm and rskorzus via Freepik The post Singapore Launches World-First Guide for Responsible Deployment of Agentic AI appeared first on Fintech Singapore.

Australia’s financial intelligence agency AUSTRAC has ordered an external audit of the payment platform Airwallex following concerns that the company may be failing to comply with anti-money laundering and counter-terrorism financing laws. The financial regulator issued the notice to the Airwallex Designated Business Group to determine whether the platform is meeting its legal obligations to protect the Australian financial system from criminal exploitation. Brendan Thomas AUSTRAC Chief Executive Officer Brendan Thomas said the audit was initiated due to suspicions of serious non-compliance, and that external audits are used to assess significant regulatory risks. “As a global payment platform that facilitates the transfer of funds to multiple jurisdictions, AUSTRAC is concerned with Airwallex’s transaction monitoring program has not been attuned to the full range of risks it faces and that the company hasn’t demonstrated an acceptable understanding of who its customers are and what reporting may be required. Our concerns also extend to how well Airwallex identifies and reports on suspicious matters and the effective oversight of these important obligations.” The independent auditor has been appointed under section 162 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. It will assess Airwallex’s AML and CTF program, customer due diligence processes, and suspicious matter reporting. The auditor must submit its findings to AUSTRAC within 180 days of appointment. The scope of the audit has been set by the regulator and will be conducted at Airwallex’s expense. Thomas said strong compliance systems and timely reporting are critical for disrupting criminal activities, including fraud, scams, illicit tobacco, drug trafficking and crimes such as child sexual exploitation. He added that responsibility for managing money laundering and terrorism financing risks rests with boards and senior executives, and that AML and CTF controls require clear accountability, properly authorised staff and sufficient resourcing rather than being treated as a back-office function. The results of the audit will inform AUSTRAC on whether further regulatory action is required. In response to AUSTRAC’s order, Airwallex said it will cooperate fully with the requirement for an external review of its AML and CTF compliance program. The company added that it supports the audit and believes its controls are fit for purpose. It noted that an earlier AUSTRAC audit in 2024 was followed by an external review in 2025, which found that appropriate systems and controls had been implemented for the areas examined. Airwallex also stated that it has zero tolerance for financial crime and removes customers who fail to meet its compliance requirements.     Editor’s note: This article has been updated to include a statement from Airwallex. Featured image: Edited by Fintech News Singapore, based on image by holystds via Freepik The post AUSTRAC Orders Independent Audit of Airwallex Over Compliance Concerns appeared first on Fintech Singapore.

Globally, wealth and asset management firms are accelerating artificial intelligence (AI) adoption, and making significant progress in laying the foundation for AI transformation. According to a survey by Publicis Sapient and ThoughtLab, 78% of the 500 firms polled are cultivating cultures that encourage AI innovation, 77% are developing an AI strategy and roadmap, and 73% are adopting cloud-based IT platforms to support AI use. Talent and governance are also key priorities. 69% of firms are developing or acquiring AI skills across the organization, and 67% are implementing governance policies to ensure responsible AI use. Together, these findings suggest that while wealth and asset management firms are adopting advanced AI technologies, most are also proactively protecting themselves from AI risks by installing governance and control mechanisms. Where firms are making moderate to significant AI progress, Source: The AI-Powered Investment Firm, Publicis Sapient and ThoughtLab, Nov 2025 ML, NLP, genAI lead AI efforts The study found that most AI initiatives to date have been centered on earlier generations of AI, such as machine learning (ML) (45%) to automate specific, pre-defined tasks, and natural language processing (NLP) (43%) to power chatbots. More recently, companies have embraced generative AI (genAI) (37%), leveraging the technology’s ability to create content, summarize documents and prepare meeting notes. GenAI adoption is now accelerating and expanding into higher-value use cases, particularly in enhancing the experience and capabilities of investment advisors. Among surveyed firms, 57% use genAI to analyze client feedback from surveys, emails, and CRM notes; and 56% use it to generate personalized client communications. These applications signal a shift from task-level automation toward AI-driven augmentation of advisor insight, productivity, and client engagement. The study also revealed that back-office functions, including code development, business processes, and custody services, are currently the top candidates for early AI deployment because of the enormous efficiency and productivity gains they can yield. In the middle office, firms are harnessing AI to automate compliance checks to quickly identify any violations, detect anomalies in real time, and prevent fraudulent transactions. In the front office, nearly six in ten firms use AI to deepen customer analysis, while slightly fewer offer AI-enabled chatbots and self-service portals to provide clients with 24/7 personalized support. Almost half of firms leverage AI to create highly customized products for individual clients. Large firms and APAC emerge as AI leaders The study categorizes respondents by their level of AI maturity and return on investment (ROI), identifying 21% as industry leaders. These leaders are typically larger wealth and asset management firms with deep pockets and large talent resources. Insurance firms and universal banks also rank highly, reflecting their high volume of repetitive customer interactions and onboarding activities that are well suited to AI automation. The study also found that AI leaders enjoy bigger returns from their AI investments. On average, they see a return of nearly 5% versus 3% for others. Over a third of them see large positive returns exceeding 7%. Returns on individual use cases can be even higher. For example, 44% of leaders reported ROI of 50% and over on robo-advisors, and 29% reported similar gains from AI-driven code writing and editing. Those superior returns reflect earlier adoption of AI, clearer prioritization of high-potential AI use cases, and stronger AI-ready organizational, data and technology foundations. Average returns on AI by maturity, Source: The AI-Powered Investment Firm, Publicis Sapient and ThoughtLab, Nov 2025 Geographically, firms in Asia-Pacific (APAC) are the most advanced in AI adoption. This is partly due to national strategies to promote AI, as well as a large pool of AI talent and customers open to AI. Key initiatives include the National AI Strategy in Singapore, which aims to establish the city-state as an AI hub with strategic projects across key sectors, the Malaysia Digital Economy Blueprint, which strives for regional digital leadership by 2030, and the Thailand National AI Strategy and Action Plan, which seeks to prepare essential infrastructure for AI development to promote economic growth. Though European and North American firms trail their APAC counterparts, the gap is expected to narrow as they amp up their investment in advanced AI technologies. Looking ahead Over the next three years, wealth and asset management firms globally plan to expand adoption of emerging AI technologies, including multimodal AI (333%) for analyzing data in any format, explainable AI (192%) to make AI decisions more transparent, and agentic AI (100%) to take on tasks formerly handled by people. % of firms using forms of AI now and in three years, Source: The AI-Powered Investment Firm, Publicis Sapient and ThoughtLab, Nov 2025 These trends are reinforced by 2025 EY survey of approximately 100 industry participants. The study found that while only 7% currently use agentic AI, 85% expect to have agentic AI use cases fully built and integrated within the next two years. Anticipated applications include continuous client monitoring, proactive outreach, and automated preparation of planning updates. GenAI will also remain a major focus, with more investment to be allocated to the technology moving forward. Although 63% of firms allocated less than 10% of their resources to genAI over the last one to two years, 77% expect to allocate more than 11% over the next one to two years. Resources allocated to genAI, Source: EY-Parthenon Wealth and Asset managers Generative AI Survey March 2025, Jul 2025 Asset and wealth management firms increasingly view AI as a transformative force. In a 2025 PwC survey, 73% of respondents identified AI as the most transformative technology over the next two to three years. 80% believe such technology will fuel revenue growth, with 84% noting it will improve operational efficiency and 72% noting it will improve employee productivity. The provision of tech-as-a-service by asset and wealth management organizations could deliver a 12% boost to revenues by 2028, according to PwC analysis.   Featured image: Edited by Fintech News Singapore, based on image by Dmitrii Travnikov via Freepik The post Wealth and Asset Managers Ramp Up AI Adoption, Led by ML, NLP and GenAI appeared first on Fintech Singapore.

Vietnamese payment provider 9Pay is piloting a stablecoin-to-QR payment gateway under the Vietnam International Financial Centers regulatory sandbox. U.S. users can make payments in Vietnam by scanning local QR codes using fintech apps, e-wallets and stablecoin applications. The company said the pilot is designed to simplify cross-border transactions. It removes currency conversion at the point of sale and routes payments through stablecoin-enabled rails integrated with Vietnam’s regulated payment infrastructure. 9Pay is one of the first ten participants in the sandbox. The framework operates under the Vietnam IFC in Danang and Ho Chi Minh City. It allows licensed domestic and foreign firms to test digital payment solutions as part of Vietnam’s broader digital government agenda. Industry data cited by 9Pay shows global stablecoin transaction volumes reached US$33 trillion in 2025, up 72 percent year-on-year. The company pointed to regulatory developments in the United States, including the GENIUS Act passed in July 2025, as a key driver. Vietnam recorded 21.2 million international arrivals in 2025. U.S. visitors were among the top 10 source markets at nearly 849,000 travellers, a segment increasingly familiar with digital assets. For U.S. fintech firms and global payment service providers, 9Pay said the gateway offers a compliant route to serve customers in Vietnam without establishing a local legal entity. The company added that stablecoin rails can reduce intermediary layers. It said foreign exchange and processing costs typically range from 3 percent to 5 percent, and that near-instant settlement can improve merchant cash flow. 9Pay said it operates under licences issued by the State Bank of Vietnam for intermediary payment services and foreign currency transactions. It plans to support use cases across tourism, remittances and cross-border commerce by integrating stablecoin-based payments with Vietnam’s local QR infrastructure.     The post 9Pay Pilots Stablecoin-to-QR Payments Under Vietnam IFC Sandbox appeared first on Fintech Singapore.

Phuket Smart Bus has rolled out Tap & Go open-loop EMV contactless payments on two routes, allowing passengers to pay fares using their own contactless credit or debit cards. The service is operated by Phuket City Development (PKCD), with Mastercard providing the payment technology and Krungthai Bank handling the payment processing. The system is now live on the route between Phuket International Airport and Rawai, as well as the Phuket Old Town loop known as the Dragon Line. Both routes are served by electric buses. The airport to Rawai route connects Phuket’s main entry point with popular areas along the west coast, including hotels, beaches and residential neighbourhoods. The Dragon Line operates within Phuket Old Town, linking cultural attractions, historic streets, Sino-Portuguese architecture and creative districts. It was first introduced as a pilot service and has since been formalised as a permanent route. Passengers can tap their cards when boarding, with fares charged automatically. The system removes the need for cash, tickets or top-ups and allows transit operators to reduce fare collection costs and improve operational efficiency. Dheeraj Raina “As a leading global tourism destination, Phuket needs transport solutions that are as seamless as the journeys travelers expect. Mastercard is proud to enable Tap & Go EMV contactless payments on the Phuket Smart Bus, allowing residents and visitors to travel easily, securely, and without cash. This collaboration supports Phuket’s vision to become a smart tourism city connected to the global digital economy.” said Dheeraj Raina, SVP and Head of Integrated Marketing and Communications (IMC), Southeast Asia, Mastercard. According to the Mastercard Economics Institute’s Travel Trends 2025 report, Phuket ranked as Thailand’s number one culinary destination in 2024 and eighth globally among cities attracting food-loving travellers from the most diverse range of nationalities. The launch was officiated by Nirat Phongsitthaworn, Governor of Phuket Province, at an event held at PKCD. With the introduction of Tap & Go, Phuket joins more than 390 cities worldwide that use contactless payments for public transport, including London, New York, Singapore and Sydney.   Featured image: (second-left) Dheeraj Raina, senior vice president and head of Integrated Marketing and Communications (IMC), Southeast Asia, Mastercard; (center) Vytot Upatising, Chief Executive Officer, Phuket City Development; and (second-right) Nirat Pongsitthithaworn, Governor of Phuket Province The post Phuket Smart Bus Adds Contactless Card Payments with Mastercard appeared first on Fintech Singapore.

Grab has enabled its merchant partners in Singapore to accept contactless payments directly through an iPhone. The feature allows merchants to process in-person transactions using the Grab Merchant iOS app, without the need for additional hardware or payment terminals. It supports contactless credit and debit cards, Apple Pay and other digital wallets through near-field communication technology. At checkout, customers can hold their card or device near the merchant’s iPhone to complete the payment. Grab said the feature is designed to be secure and privacy-focused, using Apple’s built-in security and privacy features, with card numbers and transaction data not stored on the device or on Apple’s servers. Julianne Heng “Merchants today often juggle multiple systems and devices just to accept payments, which can be confusing — and for smaller businesses, even costly. By working with Apple, we’re offering a simpler and more cost-efficient way for merchants of all sizes to accept contactless payments using just the Grab Merchant app on their iPhone. This is part of our ongoing commitment to make day-to-day operations easier, so our merchant-partners can spend less time managing tools and more time growing their business,” said Julianne Heng, Regional Head of Payments, Grab. Tap to Pay on iPhone can be activated through the Grab Merchant iOS app on an iPhone XS or later running the latest version of iOS, with setup taking only a few minutes.     Featured image: Edited by Fintech News Singapore, based on image by ghiska via Freepik The post Grab Merchants in Singapore Can Now Accept Payments Using Their iPhones appeared first on Fintech Singapore.

The digital banking landscape in Singapore has undergone a rapid transformation, with four players gaining approval from the Monetary Authority of Singapore (MAS). These digital banks are revolutionising how financial services are delivered to consumers and businesses alike, leveraging technology for convenience, innovation, and accessibility. In this article, we’ll explore the offerings of these players, highlighting their key features and what makes them unique. Last Updated: 22 January 2026 What Are Digital Banks? Digital banks are financial institutions that operate exclusively through digital platforms such as mobile apps and websites. They do not have traditional physical branches, which allows them to offer faster, more streamlined services with lower overhead costs. Digital banks offer almost a full spectrum of financial products, including savings accounts, loans, and payment solutions, all delivered through technology. Consumer demand for more convenient, cost-effective banking solutions has driven this shift towards digital banking. Why? The appeal of digital banks lies in their ability to offer seamless, accessible, and customer-centric services, often with innovative tools like AI-driven assistance, 24/7 customer service, and advanced security features. MAS’ Role in Licensing Digital Banks in Singapore The Monetary Authority of Singapore (MAS) is the regulatory body responsible for overseeing the country’s financial institutions. As part of its vision to foster innovation while maintaining a stable financial ecosystem, MAS introduced digital banking licences in 2020. These licences fall under two main categories: Digital Full Bank Licence: Allows digital banks to offer a wide array of banking services to both consumers and businesses, including deposits, loans, and investment products. Digital Wholesale Bank Licence: Geared towards businesses, providing services such as deposits, trade financing and corporate loans. How Many Digital Banks Are There in Singapore? Singapore has five digital banks in total, which are ANEXT Bank, GLDB Bank, MariBank, Trust Bank and GXS Bank. As of the time of writing, MAS is not granting new digital banking licenses. This means that these four players — GXS Bank Pte Ltd, Maribank Singapore Private Limited, ANEXT Bank Pte Ltd, and Green Link Digital Bank Pte Ltd — are the only authorised digital banks in Singapore. Interestingly, although Trust Bank has a full bank licence, it operates as a digitally native bank and is thus considered a digital bank in Singapore too. This is because Standard Chartered had secured an additional full bank license to develop a subsidiary that operated on new or alternative business models, like a digital bank. This additional license was awarded to Standard Chartered Singapore when the bank itself was awarded the Significantly Rooted Foreign Bank privilege in August 2020 by MAS, according to Yahoo Finance. List of Digital Banks in Singapore 2026 Here is a detailed breakdown of the five digital banks in Singapore: GXS Bank  Backed by Grab Holdings Inc. and Singtel, GXS Bank aims to provide its customers with financial products that help them save and earn at a lower cost. Currently, GXS Bank offers Singaporeans a savings account, two card types, a flexible loan and a balance transfer solution. The digital bank also started offering business banking solutions in early 2025, which is currently open to sole proprietors. GXS Bank, the Best Digital Bank for Freelancers and Small Businesses GXS Bank focuses on the underserved segments, offering tailored banking solutions. In a recent article on CNA, a spokesperson from the bank mentioned that GXS noted that at least one out of two sole proprietorships in Singapore has a relationship with Grab or Singtel at the very least. GXS Bank is able to leverage data derived from within its ecosystem to power its credit assessment model, which is particularly useful for fresh or small businesses without a credit history. The bank offers a daily interest business account at 2.68% per annum for a limited time* and a FlexiLoan Biz solution at an EIR of 9.32% per annum. No fees apply at the time of writing Individual account holders also can save and lend in smaller amounts. The GXS FlexiCard, for instance, is a no-interest credit card with unlimited instant rewards, and has no minimum income requirements*, according to the bank’s website. MariBank MariBank is a fully owned subsidiary of Sea Limited. Its personal banking solutions consists of a savings account, credit card, personal loan and investment offerings. MariBank also offers business banking solutions, including a business banking account, credit line facility as well as term loan financing. MariBank, the Best Digital Bank for Shopee Retail Consumers and SMEs MariBank offers a balanced selection of products for individuals and businesses alike. For individuals, its digital bank account requires no minimum deposit or minimum spending, and provides 2.5% of daily interest, calculated on the bank balance from the previous day. The digital bank account also makes it easy to pay on Shopee while reaping rewards too. Individuals can also invest from as little as a dollar, with no transaction fees involved. As for business account holders, MariBank’s business account doesn’t charge fall-below fees, account fees and local transfer fees. For Shopee sellers, they can enjoy free daily Seller Balance withdrawals, an upgrade from the standard benefit of one free Shopee withdrawal per week. ANEXT Bank ANEXT Bank, a subsidiary of Ant International, focusing on simplifying financial services for SMEs. ANEXT business offerings include a business account, fixed deposit and business loan. ANEXT Bank also runs its own API programme for SMEs, ANEXT Programme for Industry Specialists (APIs). ANEXT Bank, the Best Digital Bank for MSMEs ANEXT Bank claims to be the “Singapore’s first digital bank for SMEs”, and allows businesses to open an account with no setup or annual fees nor minimum balance maintenances. Its multi-currency business account is capable of holding funds in four currencies: EUR, SGD, USD and CNH. ANEXT also offers collateral free financing for up to S$30,000 (no documents) or otherwise up to S$500,000, with options to pay based on your usage (Pay-Per-Use) or monthly repayments (Pay Monthly). Business fixed deposits are also a solution offered, with tenures of up to 36 months. Fixed deposit currencies include EUR (minimum EUR5,000), SGD (minimum S$250,000) and USD (minimum US$5,000). Green Link Digital Bank Green Link Digital Bank or Greenland Group-Linklogis Consortium consists of Greenland Group, a Chinese developer and state-owned enterprise, and Linklogis, a Hong Kong-listed supply chain financing platform, The Straits Times reports. GLDB Bank, the Best Digital Bank for Trade and Supply Chain Financing One unique standout factor GLDB Bank has is its payables financing, receivables financing and receivables purchase financing solutions. Under payables financing, GLDB Bank offers up to 100% of revolving financing for a business’ purchase invoices, at a financing tenor for up to 180 days. Drawdowns for payables financing is available in USD and SGD. Next, GLDB Bank also offers up to 90% financing for sales invoices, also for up to 180 days and in both USD and SGD. Finally, GLDB’s supply chain financing helps businesses to gain funding for up to 100% of an invoice’s value, at a tenor of up to 180 days. Interested only needs to be paid on usage, i.e. when you encash invoices. Trust Bank Trust Bank is another authorised digital bank that operates under different regulatory frameworks. Although licensed as a full bank by the Monetary Authority of Singapore, it operates as a fully digital bank. It is made up of a partnership between FairPrice Group and Standard Chartered. Products and services offered include cashback and Link credit cards, savings accounts, insurance, instant loans, balance transfers, and TrustInvest. Trust Bank, the Best Digital Bank for Everyday Banking Trust Bank appeals well to Singapore’s population, with over 10% of its customers falling under the age of over 65 years. The extensive FairPrice Group customer base helped Trust Bank get a foothold in the senior market, CNA reports. What makes this digital bank work? For starters, its credit card charges no annual fee, as well as no foreign transaction fees (inclusive of 1% Visa charges), no cash advance fee and no card replacement fee too. Next, its Trust+ provides customers in this segment VIP in-app customer service support, extra privileges and a metal card. A S$100,000 monthly average balance is required to qualify for this service. Other interesting features Trust Bank offers include Smart switch, where a customer can opt to pay via debit or credit on the same card, and Budget Buddy, a playful gamified savings feature. How to Choose the Best Digital Bank in Singapore Choosing the best digital bank depends on your individual or business needs. Here are key factors to consider: Type of Services Offered Are you looking for personal finance products such as savings and loans, or do you need business banking and trade financing? Choose a bank that offers the services you need. Fees and Charges Check the fee structure of each bank. Some digital banks offer low or no fees for basic services, while others may have charges for certain transactions. Technology Evaluate the bank’s mobile app or digital platform. Is it user-friendly? Does it provide the features you need to manage your finances effectively? Customer Support Look for a bank with accessible and efficient customer support, whether through AI-powered chatbots, email, or phone support. Reputation Check reviews and customer feedback online to gauge the reliability and satisfaction level of existing users. Comparing the Five Digital Banks in Singapore The table below breaks down the key offerings, licensing type and more for each digital bank. Source: Singapore Fintech Report 2025 Future Trends for Digital Banking in Singapore Digital banking in Singapore continues to evolve, with the future holding exciting prospects. Expect more advanced AI tools that personalise banking services based on user preferences, making financial management more efficient and user-friendly. For example, Trust Bank introduced Savings Pots, with no lock-in period and instant withdrawals plus gamified features to help customers save better. ANEXT Bank, on the other hand, recently started offering investment funds for MSMEs, after partnering with Schroders. Keep in mind that MAS is not granting new digital banking licences for now, so these are the main institutions leading the charge in transforming Singapore’s financial landscape. FAQs Are digital banks in Singapore safe? Yes, all digital banks in Singapore are licensed and regulated by the Monetary Authority of Singapore (MAS). They must adhere to strict security and compliance standards. Can I open multiple digital bank accounts in Singapore? Yes, many users open multiple digital bank accounts to take advantage of different features, such as high-interest savings, cashback rewards, or SME financing tools. There are no restrictions on having accounts with multiple digital banks. Do digital banks offer physical branches for customer support? No, digital banks operate entirely online and do not have physical branches. However, they provide customer support through live chat, in-app messaging, email, and sometimes dedicated hotlines for business users or NTUC members (for Trust Bank). Which digital bank is best for SMEs? ANEXT Bank stands out as a strong contender. Holding a digital wholesale bank license, ANEXT is specifically designed to serve the needs of SMEs and corporate accounts. They offer a range of flexible business loan products, including revolving credit lines and term loans, along with a multi-currency business account boasting no setup fees, annual fees, or minimum balance requirements. *Terms and conditions apply and may be subject to change The post The Full List of Digital Banks in Singapore and Their Top Benefits (2026) appeared first on Fintech Singapore.

Google Cloud has launched a new cloud region in Bangkok, marking a key milestone in the company’s US$1 billion investment in Thailand’s digital infrastructure. The facility is expected to contribute around THB 1.4 trillion to the Thai economy over the next five years and support an average of 130,000 jobs annually. The new region allows Thai businesses and public sector organisations to host and process data locally, reducing reliance on overseas data centres. By keeping data within national borders, the Bangkok region supports compliance with local regulations including the Personal Data Protection Act, while also reducing network latency for applications in sectors such as banking and insurance. KASIKORN Business-Technology Group and True Digital Group are among early users of the region. Executives from the companies said the local cloud presence simplifies compliance with Bank of Thailand standards and strengthens the foundation for secure, large-scale data analysis and AI deployment. Dhipaya Group Holdings and Krungthai Card said the region will help improve service performance, enhance security, and speed up delivery of digital financial services. Google Cloud said the Bangkok region connects to its global network spanning 43 regions and more than 7.75 million kilometres of terrestrial and subsea fibre, including the TalayLink submarine cable linking Thailand and Australia. The company said customers can access global AI tools and models such as Gemini while keeping regulated data within Thailand. The region supports encryption of data at rest and in transit by default and allows customers to manage their own encryption keys. It launches with certifications including ISO/IEC 27001, 27017 and 27018, as well as PCI DSS and SOC 1, 2 and 3. Google Cloud is working with partners including Accenture, Beryl8, Deloitte, MFEC and NTT Data to support customer migration and system integration.     Featured image: Edited by Fintech News Singapore, based on image by user18003440 via Freepik The post Google Cloud Opens Bangkok Data Centre Under US$1 Billion Investment appeared first on Fintech Singapore.

PhonePe is preparing to go public in India after receiving regulatory approval, setting the stage for a mid-2026 IPO, according to people familiar with the process, as reported by Reuters. The digital payments firm filed for the listing under India’s confidential route in September, and the latest clearance brings it closer to a public debut. Existing shareholders are expected to use the offering to adjust their holdings, with Walmart likely to reduce its stake while Microsoft and Tiger Global are set to exit through share sales. PhonePe declined to comment. Walmart, Microsoft and Tiger Global did not respond to requests for comment. The planned listing comes amid strong activity in India’s equity markets, where IPO fundraising reached record levels in 2025. PhonePe was last valued at around US$12 billion in 2023 following a private funding round. Founded in 2015, PhonePe is one of the largest player on India’s Unified Payments Interface, which supports most real-time digital payments in the country. The platform accounted for more than 45 percent of UPI transactions by volume as of December 2025, based on data from the National Payments Corporation of India. In August, it processed nearly 10 billion of the roughly 22 billion UPI transactions recorded that month. The company said it has more than 650 million registered users and works with over 47 million merchants across India. In 2024, the National Payments Corporation of India extended the deadline for enforcing market share caps on UPI, a move that benefited dominant platforms such as PhonePe and Google Pay. In its latest regulatory filing ahead of the IPO, PhonePe reported that its net losses narrowed to 17.2 billion rupees for the financial year ended March 2025, compared with nearly 20 billion rupees a year earlier.     Featured image: Edited by Fintech News Singapore, based on images by PhonePe and Borin via Freepik The post Indian Regulator Clears PhonePe’s IPO Filing Ahead of 2026 Listing appeared first on Fintech Singapore.

Crypto firms looking to operate in Vietnam’s pilot digital asset market will need a minimum paid-up capital of VND 10 trillion (approximately US$400 million). The requirement is set out in a decision issued by the Ministry of Finance, which outlines how licences for crypto asset trading market operators will be granted, amended or revoked. The move follows the government’s resolution on piloting the crypto asset market and places regulatory oversight with the State Securities Commission. Only Vietnamese-incorporated companies structured as limited liability companies or joint stock companies can apply. At least 65 percent of charter capital must come from institutional founding shareholders, with more than 35 percent contributed by at least two regulated entities such as commercial banks, securities firms, fund managers, insurance companies or technology enterprises. Total foreign ownership is capped at 49 percent, and all capital contributions must be made in Vietnamese dong. Institutional shareholders must have been profitable for the two years leading up to the application, with financial statements receiving clean audit opinions. Organisations and individuals are only allowed to invest in one licensed crypto service provider, limiting cross-ownership across the market. What requirements crypto firms need to meet In practice, the standards applied to crypto operators are closer to those imposed on securities exchanges and systemically important financial institutions, pointing to a cautious approach to market entry. Applicants must also meet staffing and technology requirements. The CEO needs at least two years of experience in finance, securities or banking, while the CTO must have at least five years’ experience in information technology within the financial or technology sectors. Firms are required to employ at least ten IT staff with network information security certifications and at least ten staff with securities practice licences. On the systems side, platforms must meet Level 4 national information system security standards before they can begin operating. The licensing process is phased. The Ministry of Finance will first issue a notice within 20 days of receiving an initial submission, after which firms have up to 12 months to complete their technical and capital verification. The Ministry then has up to 30 days to make a final decision. No application fees are charged under the new framework.     Featured image: Edited by Fintech News Singapore, based on images by suriyawutsuriya and barancet02 via Freepik The post Vietnam Opens Crypto Licensing, Sets US$400 Million Capital Bar appeared first on Fintech Singapore.

We’ve moved from Cash to Cards, and Cards to QR. Is your face the next wallet? Or will “Tap to Pay” on smartphones dominate the future of payments in Asia? Fintech News Network Chief Editor Vincent Fong sits down with Sam Su, CMO of SUNMI, to debate the future of payment hardware. While “Face Pay” has seen massive adoption in China, Southeast Asia is still a battleground between QR codes and the rapidly rising “SoftPOS” (Tap to Pay) technology. In the same interview Sam also revealed to us the future direction of SUNMI. The post Face Pay vs. Tap to Pay: Which Method Will Win Asia? ft Sam Su, SUNMI appeared first on Fintech Singapore.

Ping Identity has launched Universal Services, a new set of identity services aimed at helping organisations strengthen how they manage trust across digital interactions. The enterprise identity software company said the move reflects growing risks from impersonation attacks, synthetic identities and AI-driven fraud, which increasingly target onboarding, account recovery, customer support and other high-risk actions. Many large enterprises operate across multiple identity systems, making it difficult to apply consistent security controls without major system changes. Universal Services are designed to provide continuous identity assurance across customers, employees, partners and non-human identities, while working alongside existing identity providers. The services integrate through standard protocols and APIs, allowing organisations to apply additional verification and risk checks before access is granted, during high-risk actions and whenever risk levels change. According to Ping Identity, the services combine identity verification, risk assessment, privacy-preserving zero-knowledge biometrics, orchestration and access control within a single platform, enabling enterprises to apply consistent trust policies across different environments. The company said this approach can help reduce fraud, lower reliance on manual reviews and improve user experience by adjusting security measures based on risk. Andre Durand Andre Durand, Founder and CEO of Ping Identity, said, “Trust can’t stop at login, and it can’t live inside a single identity system. Universal Services give enterprises a way to continuously verify and protect identity across every interaction without dismantling the identity infrastructure they already rely on.” The services were developed for organisations operating complex identity setups and are positioned to support both human and automated identities as the use of AI and digital agents increases. Universal Services are available now through the Ping Identity platform, with further updates planned over the course of 2026.     Featured image: Edited by Fintech News Singapore, based on image by Freepik   The post Ping Identity Launches Universal Services as AI-Driven Fraud Increases appeared first on Fintech Singapore.

Singapore Management University (SMU) has set up a new research institute to study how artificial intelligence (AI) is changing jobs, skills and lifelong learning. The Resilient Workforces Institute, known as ResWORK, brings together researchers from economics, management, behavioural science and technology to examine how workers, organisations and training systems are adapting to rapid technological change. Professor Lily Kong Professor Lily Kong, President, Singapore Management University, said, “The launch of the Resilient Workforces Institute reflects SMU’s commitment to research that matters – research that shapes public policy, informs organisational practice and ultimately strengthens the resilience of Singapore’s workforce. By bringing together insights across disciplines, ResWORK will help Singapore and the region navigate the profound changes reshaping work and learning in the age of AI.” ResWORK will focus on how people work alongside AI and automation, how organisations redesign processes and leadership for technology-enabled workplaces, and how labour market transitions can be managed to support inclusive employment. More than 20 faculty members across SMU’s six schools are involved, and research activity is already underway. The institute has secured more than S$1.5 million in research funding across internal and external projects. SMU has committed S$5 million over five years to anchor the institute and is aiming to raise a further S$8 million in external funding within three years to expand its research and partnerships. At the launch, SMU signed a two-year memorandum of understanding with SkillsFuture Singapore to jointly study how AI, digital technologies and shifting work preferences are affecting job tasks, skills demand and learning pathways. Tan Kok Yam Tan Kok Yam, Chief Executive of SkillsFuture Singapore said, “Our partnership with SMU on ResWORK is driven by a singular objective: to future-proof the national SkillsFuture system. By future-proofing, we mean that adult learning must adapt to the effects of emerging, rapidly changing technologies to workforce dynamics, so that the training received by learners best equips them for these changes.” ResWORK will also work with industry partners on applied research. Data centre company Equinix has contributed S$450,000 to support a flagship study on occupational exposure to AI in Singapore’s labour market. The project marks the first corporate-funded research initiative under the institute and will analyse job postings and task requirements over time to track how AI-related skills are evolving across roles and industries, with the aim of informing workforce planning and reskilling programmes.     Featured image: (From right to left) Professor Alan Chan, SMU Provost, Guest-of-Honour Dr Janil Puthucheary, Senior Minister of State, Ministry of Education & Ministry of Sustainability and the Environment, Mr Tan Kok Yam, Chief Executive, SkillsFuture Singapore, Professor Lily Kong, SMU President, and Professor Archan Misra, Vice Provost (Research); Interim Director of SMU Resilient Workforces Institute The post SMU Launches Research Institute to Study AI’s Impact on Jobs, Skills appeared first on Fintech Singapore.