Trust Bank has cut customer chats handled by human agents by 50 percent and reported around a 40 percent drop in complaints within months of rolling out its Gen AI chatbot. The chatbot lets customers ask questions in natural language and get answers directly within the Trust app, without going through fixed menus or scripted replies. It handles common banking queries such as deleting a payee, paying a credit card bill, replacing a card, accessing bank statements and using Linkpoints. The chatbot draws on updated product information and customer context to provide more relevant responses. Complex cases are handed over to human agents with the conversation history retained. Trust also involved its Customer Care team in refining the chatbot’s knowledge base to improve response quality. Automated testing is used to monitor performance and support further updates. Human Agents Shift to Complex Cases The rollout has reduced routine support volumes, allowing human agents to focus on more complex customer issues. One former customer service agent has also moved into a full-time AI analyst role, monitoring trends, deflection rates and performance results. The project also showed that customers prefer conversational support over navigating app menus, while context plays a key role in improving support quality. Angela Yeo Angela Yeo, Head of Customer Service at Trust, said, “Customers today expect banking to be instant, personalised and effortless. We saw a clear opportunity to redesign customer support with generative AI, not simply to automate conversations, but to deliver a genuinely better experience. By combining AI’s speed, consistency and accuracy with thoughtful design, we’ve made banking simpler, more intuitive and delightful so customers can spend less time managing their finances and more time living their lives.” Trust plans to expand its use of Gen AI beyond customer support, including AI-powered transaction search, spending insights and more personalised financial guidance. While Trust’s chatbot shows how Gen AI is already being applied in banking, the broader challenge is speed. Speaking at a Fintech News Singapore roundtable, Rajay Rai, Chief Information & Operations Officer at Trust Bank, warned that banks need to move faster to keep up with AI. @fintechnewsnetwork After 35 years in banking, Rajay Rai, CIO @trustbank.sg ♬ original sound – Fintech News Network     Featured image: Edited by Fintech News Singapore, based on image by vishaldesignstudio via Magnific The post Trust Bank Cuts Human-Handled Chats by 50% With Gen AI Chatbot appeared first on Fintech Singapore.

Amazon expects its AI and cloud infrastructure investments in Southeast Asia to exceed US$33 billion by 2039 as demand for digital services grows. The investments cover Indonesia, Malaysia, Singapore and Thailand, where Amazon Web Services (AWS) operates cloud regions. Amazon projects that the investments will add more than US$64 billion to the four countries’ combined GDP and support over 56,300 full-time equivalent jobs annually across the local data centre supply chain once completed. The company said its cloud and AI services are already being used by financial institutions and public sector organisations in the region. Union Bank of the Philippines has deployed generative AI-powered analytics on AWS for more than 200 business users, while Singapore’s GovTech developed MAESTRO, a tool that helps public agencies build generative AI solutions. Amazon has also trained more than 2.7 million people in Southeast Asia on cloud skills since 2017, with financial services among the sectors competing for cloud, AI and data talent. David Zapolsky David Zapolsky, Amazon’s Chief Global Affairs and Legal Officer, said, “Amazon has plans to invest more than US$33 billion across Southeast Asia through 2039. We’re building infrastructure, training local workforces, and enabling businesses across the region to compete globally. Governments across Southeast Asia deserve recognition for their bold leadership in shaping policies and economic conditions that are accelerating growth and attracting global investment in AI and technology at an unprecedented pace.”     Featured image: Edited by Fintech News Singapore, based on image by rawpixel.com via Magnific The post Amazon Plans Over US$33 Billion in Southeast Asia Investments by 2039 appeared first on Fintech Singapore.

iProov has launched Verified Meetings to help organisations check the identity of video call participants before critical decisions are made. The tool verifies whether a participant is a real person using a physical camera, rather than an AI-generated identity or virtual camera setup. Verified Meetings is part of the iProov Workforce Solutions Suite and supports its Workforce “Pre-Join” journey. Video calls now sit inside higher-risk workflows such as customer onboarding, remote hiring, account recovery and financial approvals, making them a growing target for deepfake fraud and social engineering. iProov cited the US$25 million deepfake video call fraud involving engineering firm Arup, as well as reports of North Korea-linked operatives using synthetic media in remote job interviews. Andrew Bud Andrew Bud, Founder and CEO of iProov, said, “Video has become the standard way of communicating for business and consumers alike, from meeting with colleagues and suppliers to hiring, onboarding, and approving financial transactions. But organisations still largely assume that seeing a person on screen means they’re real. That assumption no longer holds. Deepfakes are now easy to create and very difficult to detect, making deception in video interactions both scalable and hard to stop. ” Delivered as a native plugin for video conferencing platforms, Verified Meetings can be triggered by the host during a call. It analyses the live video stream in real time to detect deepfakes and presentation attacks, while checking whether the feed comes from a physical camera. The check runs in the background without alerting the participant. The result appears to the host as a red, amber or green status. iProov said the tool can help reduce risks before money is released, candidates are hired or access is granted. The solution is supported by the iProov Security Operations Center, which monitors new attack methods and updates detection capabilities as threats evolve.     Featured image: Edited by Fintech News Singapore, based on image by Tanu via Magnific The post iProov Launches Verified Meetings to Address Deepfake Risks in Video Calls appeared first on Fintech Singapore.

iFAST Global Bank launched the Worldwide Scan & Pay on 20 May 2026. It is a cross-border QR code payment feature enabled via Alipay+, a unified wallet gateway by Ant International. It is said to allow quick, cardless transactions for individual clients at 150+ million merchants across 220+ markets globally. iFAST Global Bank’s clients can make payments at Alipay+ compatible QR merchants and supported national QR networks by scanning via the iFAST Global Bank mobile application and confirming the transaction. There is no need for a physical card. Alipay+ currently partners with over 10 national QR schemes across Asia and other markets. Worldwide Scan & Pay is available for all iFAST Global Bank Digital Personal Banking clients, with payments linked directly to clients’ Multi-Currency Current Account. It is designed for in-person retail shopping, dining, and travelling. Inayat Kashif, CEO of iFAST Global Bank, shared, Inayat Kashif “Together with Alipay+, we are enhancing the way clients transact internationally by delivering a more integrated and convenient global payment experience.” Edward Yue, General Manager of Alipay+ Global Power Center, Ant International, added, Edward Yue “Our partnership with iFAST builds on our shared vision to make payments work for everyone, everywhere. At Alipay+, we have a continued commitment to supporting financial institutions, including banks, e-wallets and fintechs, with solutions that drive growth, enhance digital user experience, and strengthen the digital economy.” This is said to be the first collaboration between Ant International and iFAST Global Bank, with further initiatives being considered, including travel-related offerings within the Alipay+ AI-powered services. Featured image edited by Fintech News Singapore based on image by bemphoto31 on Magnific The post iFAST Global Bank Rolls Out Worldwide Scan and Pay, Powered by Alipay+ appeared first on Fintech Singapore.

Franklin Templeton is working with DigiFT to widen institutional access to its Benji tokenisation platform in Asia. The partnership will make Franklin Templeton’s Benji Technology Platform and related tokenisation products available to accredited and institutional investors through DigiFT. DigiFT will serve as a key distributor across Asia, with both companies expected to expand the partnership over time. The Benji Technology Platform supports tokenised U.S. government securities strategies with continuous yield accrual, including intraday accrual through Franklin Templeton’s patent-pending Intraday Yield mechanism. It also supports 24/7 transfers between permissioned wallets and near-instant on-chain settlement, which could be used for treasury management, payments, settlement and off-exchange collateral. Henry Zhang Henry Zhang, Founder and Group CEO of DigiFT, said, “DigiFT was built with a specific conviction: that institutional investors deserve access to the world’s best on-chain financial instruments, through a platform that meets the regulatory standard they require. The partnership with Franklin Templeton reflects that conviction and marks the beginning of a long-term strategic collaboration to bring tokenised solutions to market.” Chetan Karkhanis Chetan Karkhanis, SVP, Digital Asset Partnership Development at Franklin Templeton, said, “DigiFT’s leadership and innovative edge, together with the institutional infrastructure they have built, provides a strong foundation for this partnership. This marks the beginning of what we expect to be an expanding and enduring collaboration.” The Singapore-based digital asset exchange holds Capital Markets Services and Recognised Market Operator licences from the Monetary Authority of Singapore. It also holds Type 1 and Type 4 licences from Hong Kong’s Securities and Futures Commission. Franklin Templeton launched the first U.S.-registered mutual fund to use a public blockchain for transaction processing and share ownership records in 2021.     Featured image: (From left) Henry Zhang, Founder and Group CEO at DigiFT and Chetan Karkhanis, SVP Digital Asset Partnership Development at Franklin Templeton The post Franklin Templeton and DigiFT Partner to Expand Benji Tokenisation in Asia appeared first on Fintech Singapore.

Fireblocks has launched its Agentic Payments Suite to support stablecoin payments initiated by AI agents across blockchains. The company has also joined the x402 Foundation, the Linux Foundation-hosted body overseeing the x402 protocol for agent-to-merchant payments. Fireblocks is contributing a security extension to x402 that adds request integrity and spend governance for agent-led transactions. The suite is aimed at payment service providers and fintechs looking to offer agentic payments with built-in compliance, security and spending controls. The launch comes as AI agents begin moving from recommendations into transaction execution, including travel bookings, supply purchases and usage-based API payments. The suite includes an Agentic Payments Gateway, which lets payment service providers offer stablecoin acceptance to merchants without requiring blockchain expertise. Payments are routed into Fireblocks wallets or connected accounts with compliance and security controls. It also includes Agentic Wallets, which allow fintechs to provide programmable wallets that can be delegated to AI agents. These agents can access funds, sign transactions and pay merchants that accept x402 or MPP within set limits and with a full audit trail. Idan Ofrat “Card infrastructure was built on the assumption that humans initiate every transaction. Agent infrastructure reimagines this at the root. The protocols have answered how agents pay. We built the layer that makes sure they do it with the right controls in place.” said Idan Ofrat, Co-Founder and Chief Product Officer at Fireblocks. Fireblocks noted that the suite supports any stablecoin on any blockchain and can work with emerging agentic payment standards. Off-ramp, conversion and reconciliation tools are also included. AUSD, Agora’s regulated dollar-denominated stablecoin, is already live on the Fireblocks stack. Fireblocks’ stablecoin infrastructure is used by payment companies and fintechs across more than 100 countries.     Featured image: Edited by Fintech News Singapore, based on image by isaac1112 via Magnific The post Fireblocks Launches Agentic Payments Suite appeared first on Fintech Singapore.

HSBC CEO Georges Elhedery has warned that artificial intelligence (AI) will change the shape of work in financial services as the bank increases its use of the technology across the business. At an investor day on Wednesday, Elhedery told employees to adapt to the shift and work with the bank as AI becomes a larger part of its operations, Reuters reported. He said generative AI would lead to the loss of some roles while opening up new ones, making workforce training a priority for HSBC. Elhedery framed the challenge as one of preparing the bank’s global workforce for a different operating environment. He said HSBC needed to give employees the skills, support and resources to stay relevant as AI changes how work is done. He also stressed that the transition should not leave staff feeling excluded, worried or resistant to the changes being introduced. HSBC appointed David Rice as its first Chief AI Officer in March, with the role taking effect on 1 April. The appointment is part of HSBC’s effort to scale AI use across its operations. The bank has identified AI as one way to simplify its operations, reduce manual processes and support its profitability targets. Elhedery said HSBC is using the technology across multiple functions and business lines, including efforts to tailor content for customers. The bank’s investor materials point to several areas where AI is being applied, from onboarding and customer due diligence to risk monitoring, call centre operations and wealth services.     Featured image: Edited by Fintech News Singapore, based on image by ttonaorh via Magnific   The post HSBC CEO Says AI Will Disrupt Jobs as Lender Trains Staff for Change appeared first on Fintech Singapore.

OpenAI has chosen Singapore for its first Applied AI Lab outside the United States as part of a new S$300 million partnership with the government. The OpenAI for Singapore initiative was announced at the ATx Summit and will support the country’s National AI Strategy. The partnership with the Ministry of Digital Development and Information will focus on three areas: helping organisations use advanced AI, building local AI talent and widening access to AI tools across the economy. The new Applied AI Lab will create more than 200 technical roles in Singapore over the next few years. OpenAI will also make Singapore one of its global hubs for Forward-Deployed Engineers. These engineers work directly with companies to apply AI to business and operational challenges. The lab will support projects tied to Singapore’s AI Mission priorities, including public service, finance, healthcare and digital infrastructure. Denise Dresser “We’re excited to partner with Singapore as it builds on its position as a global leader in AI. Singapore has strong technical talent, trusted institutions, and a clear ambition to use AI to drive long-term growth and improve people’s lives. Through OpenAI for Singapore, we want to help more organisations benefit from frontier AI, support the next generation of local AI talent, and widen access to these tools across the country.” said Denise Dresser, Chief Revenue Officer at OpenAI. OpenAI for Singapore will also include programmes to build AI skills locally. This includes work with the Ministry of Education and GovTech on AI-enabled learning tools, including support for Mother Tongue language learning. The company will also support educators through a Singapore chapter of the OpenAI Academy and Codex for Teachers hackathons. It also plans to launch a Forward-Deployed Engineer training programme and participate in the National AI Impact Programme, including through the use of Codex, to deepen AI capabilities across the technology workforce. OpenAI will work with local partners to explore accelerator programmes for AI-native startups and workshops for micro-entrepreneurs and small businesses. The initiative will focus on practical AI adoption, including helping founders build with AI and supporting SMEs in areas such as operations and customer service.     Featured image: Edited by Fintech News Singapore, based on image by Frolopiaton Palm via Magnific The post OpenAI Commits Over S$300 Million to Singapore appeared first on Fintech Singapore.

The Monetary Authority of Singapore (MAS) has revoked the Major Payment Institution License of Bsquared Technology (BSQ) following findings of alleged breaches of regulatory requirements as well as the submission of false or misleading information. The revocation came into effect on 14 May 2026. Bsquared Technology is no longer permitted to provide digital payment token services in Singapore under the Payment Services Act 2019. MAS detailed the enforcement action in an official notice issued 16 months after it originally licensed the firm in January 2025. According to the regulator, an onsite inspection in 2025 revealed significant weaknesses in the company’s risk management practices and conflict of interest policies. MAS also noted that the firm failed to meet outsourcing guidelines in its arrangements with related entities. Bsquared Technology submitted information that was false or misleading in material particulars on multiple occasions, the regulator found. MAS found that these misrepresentations occurred from the time of the firm’s initial license application and continued through the inspection period. The company conducted limited activities while licensed and reported holding no outstanding customer funds or assets, MAS said. The firm must submit an auditor-issued closure certificate that confirms it has appropriately routed all customer funds. The regulator stated it takes a serious view of the breaches and is currently reviewing the responsibilities of key officers at the firm. MAS added that entities breaching regulatory requirements or providing inaccurate information will face consequences.     Featured image credit: Edited by Fintech News Singapore, based on image by artyomstock89 and mamewmy via Magnific The post Bsquared Technology Payment License Revoked Over Serious Breaches, MAS Says appeared first on Fintech Singapore.

DBS is partnering with the Climate Bonds Initiative (CBI) to develop financing approaches and internal banking capabilities for climate adaptation and resilience in the APAC region. The agreement was signed on the sidelines of Temasek’s Ecosperity 2026 sustainability event in Singapore. Through the collaboration, DBS and CBI will jointly publish research identifying investable climate adaptation opportunities in sectors such as energy and real estate. The research will combine CBI assessment methodologies with regional market data from DBS. The bank is also launching an internal capability-building programme to help its relationship managers and assessment teams integrate climate resilience factors into core banking processes. Staff will receive foundational and advanced training on how to avoid maladaptation risks and monitor the impact of resilience investments. Shilpa Gulrajani “Unlike mitigation projects, which typically generate clear and predictable cash flows, many adaptation investments are centred on loss avoidance,” said Shilpa Gulrajani, Head of Sustainable Finance, Institutional Banking Group, DBS. Gulrajani added that this dynamic makes adaptation projects inherently more challenging to finance using conventional approaches, highlighting the need for new frameworks. Sean Kidney “Financing resilience investment has become critical to avoid derailing economies and increasing default risk,” said Sean Kidney, CEO of the Climate Bonds Initiative. The partnership aligns with a growing domestic focus on physical climate risks. Singapore’s Ministry of Sustainability and the Environment has designated 2026 as the Year of Climate Adaptation. Broader estimates cited during the announcement indicate that economies will need over US$365 billion annually by 2035. This is to develop resilient infrastructure capable of withstanding climate shocks such as floods and heatwaves.     Featured image credit: Edited by Fintech News Singapore, based on image by Rashed_stock via Magnific The post DBS Partners Climate Bonds Initiative on Climate Adaptation Financing in APAC appeared first on Fintech Singapore.

Primer has raised US$100 million in Series C funding to expand its AI payments platform and grow its US business. The round was led by Sofina, with participation from Peak XV Partners and existing investors Balderton, Accel, ICONIQ, Tencent and Speedinvest. Primer will use the funds to develop AI tools for payments and finance teams, including Primer Companion, its AI agent for merchants. Founded in 2020, Primer helps merchants manage payments across processors, acquirers, fraud tools and payment methods. Its platform captures more than 400 data points per transaction, manages more than 95% of customer payment volume on average and processes billions of transactions annually for businesses including GetYourGuide, Dialpad and Printful. Fragmented payment data can affect how AI tools support payment decisions. Gabriel Le Roux “In the next few years, every payment decision in a large business will be initiated, optimized or audited by AI. That shift is already underway. The question is whether the data those systems run on is complete because when you deploy agents across fragmented data, they don’t just underperform, they make the wrong decision. That’s why the next era of payments can only be built on complete, contextual intelligence.” said Gabriel Le Roux, CEO and co-founder of Primer. Primer Companion was launched in 2025 to answer payment queries and surface insights from merchant payment data. Primer plans to develop the tool further so it can run experiments, optimise performance and operate within merchant-defined parameters. The US accounts for around a fifth of Primer’s revenue, with annual recurring revenue in the region doubling year-on-year. Primer aims to grow US revenue to more than a third of total revenue by 2028 and hire up to 50 people in the region.     Featured image: Edited by Fintech News Singapore, based on image by Pixelid via Magnific The post Primer Raises US$100 Million Series C With Backing From Tencent, Peak XV appeared first on Fintech Singapore.

Digital assets are gaining real traction among regulated institutions, but security risks are rising just as quickly. As adoption accelerates, scrutiny around custody controls, transaction integrity and compliance oversight is becoming more intense. Banks, exchanges and financial intermediaries are no longer running isolated pilots. Digital asset workflows are being integrated into day-to-day operations, which makes security architecture and governance core requirements rather than secondary considerations. The institutions that move ahead will be those that can scale digital asset activity without compromising control, resilience or regulatory standards. What C-level leaders should consider when building a digital asset security blueprint How regulatory developments are shaping the digital asset landscape Balancing innovation with risk management in a fast-evolving market Speakers: Sanchit Mall, Director Digital Currencies, Asia Pacific, Visa Yip Kah Kit, Head of Blockchain and Digital Assets at UOB Group Arthit Sriumporn, Founder of Rakkar Digital Ray Law, Senior Security Solution Architect, Thales Moderator: Vincent Fong, Chief Editor, Fintech News Network The post The Blueprint for Institutional Digital Asset Security at Scale appeared first on Fintech Singapore.

Mastercard has launched Merchant Trust Services to help banks and payment providers detect scam merchants earlier. The service uses Mastercard’s network intelligence, cyber and identity tools, and real-time analytics to assess merchant risk during onboarding and ongoing monitoring. It comes as fake online storefronts become harder to spot, with scammers using generative AI to create convincing websites, ads, reviews and customer testimonials. Consumers lost US$442 billion globally to online scams in 2025, according to the Global Anti-Scam Alliance’s Global State of Scams 2025 report. Mastercard is also introducing the Merchant Scam & Risk Indicator, which gives issuers real-time merchant risk signals during authorisation. In a pilot with a leading issuer, the indicator detected about 80% of risky merchants identified by the issuer. Some were flagged up to 90 days before the issuer’s first escalation. The indicator will first be available in Europe and the United States, with plans to expand globally within the year. Mastercard is also updating its franchise standards from July. Acquirers and payment facilitators will be required to investigate within 72 hours when potential scam activity reaches a defined risk threshold. If the activity is confirmed, the merchant must be stopped from accepting Mastercard transactions. Ann Johnson “Digital commerce only works when people trust what’s on the other side of the screen. If we let scammers keep posing as legitimate businesses, we don’t just lose money — we lose confidence. We need to secure this trust for the good of the entire digital ecosystem: from consumers to banks and the honest merchants who are trying to grow.” said Ann Johnson, Executive Vice President of Security Solutions at Mastercard.     Featured image: Edited by Fintech News Singapore, based on image by noob via Magnific The post Mastercard to Help Banks Spot Scam Merchants Earlier With New Trust Service appeared first on Fintech Singapore.

GXS Bank is expanding GXS Invest beyond cash with new funds covering bonds, diversified assets, equities and gold. The digital bank has partnered Lion Global Investors to launch the LionGlobal Dynamic Core Income Fund SGD, a multi-asset fund distributed on GXS Invest as GXS Invest Diversified. The fund is available exclusively through GXS Bank at launch. It invests across equities, bonds, commodities and cash through a mix of unit trusts and exchange-traded funds. Lion Global Investors will manage the portfolio dynamically, adjusting allocations in response to market conditions, economic developments and geopolitical risks. Its investment framework combines data-driven insights with the experience of its portfolio managers. Jenn Ong Jenn Ong, Group Head of Retail at GXS Bank, said, “The LionGlobal Dynamic Core Income Fund SGD is the result of our shared goal with Lion Global Investors to take the stress out of investing for the everyday investor, so that they do not need to fret over making tactical investment choices during volatile market conditions. With GXS Invest, they simply need to choose the investment option that best meets their risk tolerance and investment objectives. The teams of experts behind the funds we have curated will do the rest.” Darius Foo Darius Foo, Head of Distribution Business at Lion Global Investors, said, “Today’s investors are looking for clarity, diversification and resilience in their portfolios. The LionGlobal Dynamic Core Income Fund is designed to address these needs through its simple yet diversified solution that combines active and passive strategies, supporting investors in navigating market uncertainty while staying focused on long-term growth.” GXS Invest was launched in 2025 with GXS Invest Cash Plus, which gives customers access to the Fullerton SGD Cash Fund. The platform now includes GXS Invest Cash Plus, Bond, Diversified, Growth and Gold, giving retail investors options across different asset classes and risk levels. Customers can access the investment platform by signing up for a GXS Bank account through the bank’s mobile app.     Featured image: Edited by Fintech News Singapore, based on image by mangpor2004 via Magnific The post GXS Bank Adds Bond, Equity and Gold Funds to Investment Platform appeared first on Fintech Singapore.

Tazapay has added iPiD’s payee verification tools to help businesses check payment recipients before sending money across borders. The integration embeds iPiD’s Know Your Payee capability directly into Tazapay’s platform. Tazapay provides local collection and payouts across more than 70 markets, alternative payment methods, virtual accounts, multi-jurisdiction licensing and stablecoin-to-fiat settlement. It serves more than 1,000 enterprises and fintechs across 30 countries, processing billions of dollars in annualised payment volume. Businesses can now access real-time account validation and beneficiary name matching through their existing Tazapay setup. iPiD’s single-API model supports checks across different markets and payment schemes without requiring multiple local integrations. The move comes as Tazapay supports both traditional payment rails and stablecoin-to-fiat settlement, including for web3 companies and enterprises operating in emerging market corridors. Tazapay recently extended its Series B round, led by Circle Ventures with participation from Coinbase Ventures and CMT Digital. Damien Dugauquier Damien Dugauquier, Co-Founder and CEO of iPiD, said, “Tazapay has solved something genuinely difficult in giving any business access to the full complexity of global payments through a single platform. When you’re operating at that scale and across that many markets, trust in who gets paid cannot be an afterthought. That’s what iPiD brings to this partnership — and why we’re proud to be part of the infrastructure that helps businesses go global with confidence.” Aayush Singhania Aayush Singhania, Chief Product Officer at Tazapay, said, “Businesses that come to Tazapay want to move money across borders without compromise. Integrating iPiD means we can now add payee verification to that promise, so our clients know the payment is going to the right place before it moves.”     Featured image: From left to right: Quinn Pham, Regional Director APAC, iPiD | Damien Dugauquier, Co-Founder & CEO, iPiD | Aayush Singhania, Chief Product Officer, Tazapay | Abhishek Sharma, Director of Banking Partnerships, Tazapay The post Tazapay Adds iPiD Verification Tools as Cross-Border Payment Volumes Grow appeared first on Fintech Singapore.

Paymentology has appointed Fiona Tee as its new Chief Financial Officer. Tee joins from cross-border payments firm Currencycloud, where she spent nine years helping scale the business prior to its acquisition by Visa. Her appointment comes shortly after Paymentology secured US$175 million in a funding round backed by Apis Partners and Aspirity Partners. She brings over 25 years of finance leadership experience across the fintech and technology sectors. The company plans to use the capital to accelerate its global expansion and continue innovating its modern issuer-processing infrastructure. Jeff Parker “As demand for modern issuer-processing infrastructure continues to accelerate globally, her experience scaling fintech businesses and navigating transformational growth will be invaluable as we enter our next phase,” said Jeff Parker, CEO of Paymentology. In her new role, Tee will work closely with the executive team to deliver Paymentology’s five-year strategy, supporting new market entry, disciplined execution, and sustainable profitability as the business scales. Fiona Tee “What stood out to me immediately was the strength of the business, the quality of the team and the commitment to delivering exceptional outcomes for customers,” said Fiona Tee, Chief Financial Officer, Paymentology. “I believe sustainable growth comes from a clear strategy, strong financial discipline and a culture that is aligned around execution.” Paymentology also recently updated its brand identity to reflect its evolution into a globally scaled payments infrastructure provider supporting banks and fintechs across nearly 70 countries.     Featured image credit: Edited by Fintech News Singapore, based on image by fabrikasimf via Magnific The post Paymentology Appoints Fiona Tee as CFO Following US$175M Funding Round appeared first on Fintech Singapore.

Khairi Azmi has joined Paxos as CEO of Paxos Global and Head of APAC, according to his LinkedIn post. Based in Singapore, Khairi will lead Paxos’ regional business across Asia Pacific, with a focus on regulated stablecoins and digital asset infrastructure. His role covers regional strategy, business development and partnerships with crypto exchanges, banks, brokerages, payment service providers and technology companies. Khairi will also oversee Paxos’ Singapore office and work with regional regulators as the company looks to drive adoption of Global Dollar (USDG). Global Dollar (USDG) is a US dollar-backed stablecoin issued by Paxos Digital Singapore Pte. Ltd., a separate Paxos entity licensed as a Major Payment Institution in Singapore. He joins Paxos after six years at OKX, where he was Head of APAC, Institutions and Singapore General Manager. During his time at OKX, he helped build the company’s institutional business across the region and led its Singapore office. Khairi has also held roles at Seabury Global Markets, EBS Dealing Resources, Integral Development Corporation, OANDA and DBS Vickers Securities, with a focus on institutional sales, foreign exchange and regional business development.     Featured image: Edited by Fintech News Singapore, based on image by leungchopan via Magnific The post Khairi Azmi Moves From OKX to Paxos as APAC Head appeared first on Fintech Singapore.

Clicx Bank is preparing to launch services next month after receiving approval to operate as a virtual bank in Thailand. The Bank of Thailand granted the licence on 14 May, Bangkok Post reported, making Clicx the first approved virtual bank applicant in the country to secure an operating licence. The digital bank is backed by Krungthai Bank, Advanced Info Service and PTT Oil and Retail Business. Krungthai Bank disclosed that Clicx had been notified of the finance minister’s approval for its commercial banking licence. The approval also covers regulated payment services. Clicx plans to provide savings, money management and credit services through a fully digital model. The bank is aimed at underserved customers with irregular income or limited financial records, including gig workers, small merchants, new workers and other users outside the reach of traditional banking. It plans to use AI and non-traditional data to better assess customer profiles, including information linked to everyday behaviour and service usage. Clicx’s lending products will take into account customers’ repayment ability. Thailand approved three virtual bank applicants in June 2025: ACM Holding, the Krungthai-AIS-OR consortium and the SCB X consortium with WeBank Technology Services and KakaoBank. The Bank of Thailand requires the groups to establish public limited companies, meet the finance minister’s conditions and pass its readiness assessment before starting operations. The original timeline required the virtual banks to begin operations within one year of the 19 June 2025 approval, but the regulator has since allowed more time. Bank of Thailand Governor Vitai Ratanakorn expects at least two virtual banks to begin operations by the end of 2026.     Featured image: Edited by Fintech News Singapore, based on image by wahyu_t via Magnific The post Clicx Bank Set to Launch as Thailand’s First Virtual Bank appeared first on Fintech Singapore.

Banking Circle Group has appointed Kush Saxena as Group CEO, with its co-founders set to move into advisory and transition roles. Saxena brings more than 20 years of senior leadership experience in payments and financial technology. He was most recently CEO of Getnet, one of the largest merchant acquirer in Latin America. Prior to that, he spent eight years at Mastercard, where he served as Executive Vice President of Merchants and Acceptance and was a member of the company’s Global Management Committee. He also previously served as Mastercard’s Chief Technology Officer. Saxena has also held board and advisory roles, including as Non-Executive Director of Crown Agents Bank and Advisory Board Member of BioVie. He has advised organisations such as the World Bank. Kush Saxena Kush Saxena, incoming Group CEO, said, “Anders, Laust and the team have built something genuinely unique – a technology-led financial infrastructure platform of real global scale, trusted by some of the most demanding clients in financial services and digital commerce. I am honoured to be joining at this exciting moment and look forward to partnering with the broader team and Ralph to deliver on the next phase of growth at scale.” Banking Circle Group was co-founded by Anders la Cour and Laust Bertelsen in June 2013. The company provides financial infrastructure for payment service providers, banks, fintechs, marketplaces, corporates and online merchants. The group reported that it has surpassed €500 million in revenue, supported by client adoption, international expansion and continued investment in its platform. As part of the leadership changes, la Cour will become Senior Advisor, while Bertelsen will remain CEO of Banking Circle S.A. before transitioning out over the next 12 months. The appointment follows the recent naming of Ralph Hamers as Group Chairman.     Featured image: Edited by Fintech News Singapore, based on image by prostophotokate via Magnific The post Banking Circle Names Kush Saxena as Group CEO appeared first on Fintech Singapore.

DBS plans to take in more than 500 young local talent this year across its Management Associate, Internship and Traineeship programmes as AI reshapes banking work. The intake will bring the total number brought in through these programmes to close to 1,600 between 2024 and 2026. DBS has hired 112 Management Associates in 2026, more than double its average annual intake across 2024 and 2025. The 12-month programme gives participants structured training, business exposure and hands-on experience across banking, operations and technology. DBS also expects to take in more than 400 interns this year, giving students exposure to real projects and technology-led financial services. The bank plans to recruit a similar number of trainees as last year, when it welcomed 44 fresh graduates under its six-month Graduate Industry Traineeship programme across business, support, technology and operations roles. Tan Su Shan DBS CEO Tan Su Shan said, “AI is enabling young graduates to learn faster, contribute earlier, and take on higher-value work from the outset. Innovative programmes such as the Young Talent Programme for AI in Finance, shaped by DBS’ extensive experience in AI and workforce transformation, further enhance the career readiness of young graduates, and we look forward to partnering with IBF and industry partners to collectively future-proof Singapore’s banking talent pipeline.” DBS also highlighted Clarissa Jew, a Singaporean data scientist who joined its Management Associate Programme in 2024 after graduating from Nanyang Technological University with a degree in data science and AI. She noted that DBS’ internal AI tools, including CodeBuddy and DBS-GPT, have helped her debug code and understand business context faster, giving her more time for problem framing, experiments and solution design.     Featured image: Clarissa Jew, who joined DBS through its Management Associate Programme in 2024 and now works as a data scientist. Source: DBS.   The post DBS to Hire Over 500 Young Local Talent as AI Reshapes Banking appeared first on Fintech Singapore.