AI’s been reshaping financial services for several years now. But as its digital adoption accelerates, one factor determines whether AI extracts value or adds complexity: choosing the right partners for specialised applications. According to McKinsey, while AI tools are now widespread, most organisations have not embedded them deeply into their workflows, limiting their ability to generate impact at the enterprise level. The right AI fit has the capability to unlock something powerful, like transforming financial systems into agile, high-performance engines that respond as instantly as a digital-native platform. On the flip side, AI trained on flawed data and assumptions festers old problems, snowballing inefficiencies into systemic risk rather than eliminating them. The real challenge, therefore, lies in the incentives behind AI, and the partnerships that shape how AI is designed, trained, and deployed across financial systems. It is at this intersection that Huawei created the Huawei RONGHAI Financial Partner Program. Designed to bridge foundational infrastructure with specialised financial applications, the program has grown to more than 150 partners worldwide. Roger Wang, the Director of the Partner Development Department at Huawei Digital Finance BU, and Wizard He, the Co-Founder and Chief Product Officer of Netis Technologies, sat down with Fintech News Network’s Chief Editor, Vincent Fong, to unravel how the Huawei RONGHAI Financial Partner Program is enabling AI-infused finance applications that are innovative, stable, and scalable in production. Cultivating the Power of Chemistry Through Partnerships The traditional vendor-client relationship is evolving. Huawei is cultivating what Roger Wang, Director of Partner Development at Huawei’s Digital Finance BU, refers to as an ecosystem where value is created by the “chemistry” between its partners. @fintechnewsnetwork Huawei’s RongHai is a game changer for digital finance and AI @Huawei #fintech #AI #digitalfinance #fyp #Banking ♬ original sound – Fintech News Network – Fintech News Network The idea of the RONGHAI program spawned from a hard reality check. Despite being a large company with substantial experience accumulated over the past decade, Roger shares that it was not enough to deliver digital transformation in its entirety. He explained, Roger Wang “We came to realise that we need to build an ecosystem with a lot of excellent technology partners, so we can build end-to-end capabilities throughout the digital transformation journey that shortens the time and effort that our customers need to spend.” That urgency is driven by how quickly financial services are changing. Traditionally, banks could afford to spend years modernising core systems. That timeline no longer matches how fast customer behaviour, competition, and business models are evolving. From a CEO’s perspective, waiting for years is no longer acceptable nor feasible today. Source: Huawei Through close collaboration between Huawei and its technology partners, those timelines have been dramatically compressed. Roger shares, “In the Philippines, we did a whole banking transformation in less than 10 months. This gave us the inspiration that core banking is just a corner of digital transformation, and we needed to build all of these capabilities. It gave us the idea to launch a new program (RONGHAI), attracting competent partners to work with us, and then supporting our customers in a different way.” Why Specialised Partnerships Will Define the Future of Banking For Wizard He, an AI expert with over two decades of experience under his belt, the value of the RONGHAI program lies in its ability to provide end-to-end solutions to banking customers. Netis, as a partner, does comprehensive AI visibility for banks. Having worked with Huawei across multiple markets, Wizard describes RONGHAI as an operating model that allows banks to move faster without sacrificing stability. One of Netis’ earliest engagements under this model began in Singapore. A leading bank embarked on a digital transformation initiative, codenamed “Gandalf”. The objective was to learn from digital-native technology leaders (think Google, Amazon, Netflix and the like) and translate that agility into a regulated banking environment. In that journey, Wizard explained, Netis and Huawei collaborated closely to ensure there were no surprises. Huawei anchored the transformation with a stable technology foundation, while Netis focused on delivering agility at the application layer. Wizard He “Huawei also has a huge global expansion network. They connect to different continents and leverage this network as the owner and member of RONGHAI.” Crucially, Wizard emphasised that the strength of the RONGHAI program lies in how specialised partners come together as a system rather than operating in silos. In core banking projects, for example, Huawei works alongside core banking vendors and software partners to deliver transformation, agility and resilience, all at the same time. “It’s like a triangle,” Wizard explained. “Huawei has different product portfolios. They have ICT infrastructures, computing, storage network, Huawei cloud and the GPU. So if you work with Huawei, problems, especially related to technology, can be solved.” Huawei’s dedicated partner management model further accelerates this process, enabling partners to understand the strengths of all the technologies, deploy faster, and scale with confidence. Wizard shares his benefits as a partner to the program: “We collaborated with Huawei and extended to five different continents, and shared our experience from one to many.” How Huawei Curated 150+ High-Performance Partnerships With more than 150 companies already onboard, the RONGHAI ecosystem is intentionally selective. Roger explains that what matters most is how well partners can contribute to a coherent and high-performing ecosystem. As more partners come together, new synergies begin to emerge organically. Maintaining quality and consistency at scale, however, requires discipline. Entry into the program is therefore guided by three core criteria. “We need to see how creative that partner is in terms of technology, applications and real use cases they create. The second (criterion) is about speed, on how quickly you can evolve your product based on a specific customer.” The third criterion is platform readiness. Huawei remains deeply committed to its infrastructure layer, and partners must, in turn, be able to deploy their applications efficiently on that foundation. By ensuring partners can land solutions quickly and scale them across markets, RONGHAI turns collaboration from a loose network into a governed ecosystem capable of delivering enterprise-grade AI adoption at scale. Watch as Roger Wang and Wizard He talk about why scaling AI in finance requires curated partnerships, execution, and ecosystem design. Catch the full conversation on how the Huawei RONGHAI program is shaping the future of AI-infused finance below. Featured image by Fintech News Singapore The post AI in Finance Is Harder Than It Looks, and Huawei Knows How to Crack It appeared first on Fintech Singapore.

Emirates NBD Capital, the investment banking arm of Emirates NBD, has received regulatory approval from the Securities and Exchange Board of India (SEBI) for a Category I Merchant Banking license. The Category I license allows Emirates NBD Capital to provide a full range of capital markets services in India. These include acting as merchant banker and bookrunner for equity capital market transactions, such as initial public offerings, follow-on offerings and qualified institutional placements. The license also allows the firm to arrange local debt capital market placements. The approval enables Emirates NBD Capital to expand its presence in India and will deliver investment banking services in line with local regulatory requirements. The group incorporated Emirates NBD Capital India Private Limited in Mumbai. It operates as part of the group’s global investment banking platform. A board comprising senior bank executives oversees the entity, supported by local governance. Emirates NBD Capital maintains investor relationships across sovereign wealth funds, institutional investors, family offices and ultra-high-net-worth individuals. These relationships span the Middle East and international markets. The license allows the firm to connect these investors with equity and debt market opportunities in India, where regional participation has remained limited. Hitesh Asarpota, CEO of Emirates NBD Capital, said: Hitesh Asarpota “Securing a merchant banking license in India marks a milestone for Emirates NBD Capital and the wider Group. Our expanded capabilities will complement the Bank’s broader offerings and support cross-border capital flows between the Middle East and India.” The approval comes amid strong activity in India’s capital markets. In 2025, equity capital market volumes reached around US$56 billion, while IPO fundraising totalled approximately US$20 billion. The market is expected to sustain elevated issuance levels into 2026.     Featured image credit: Edited by Fintech News Singapore, based on image by natanaelginting via Freepik This article first appeared on Fintech News Middle East The post Emirates NBD Capital Secures Category I Merchant Banking License in India appeared first on Fintech Singapore.

Singapore payments platform AXS has rolled out a new rewards programme for users who pay bills through its app. The programme, called AXS Rewards, allows customers to earn AXS Coins on all bill payments made on the mobile app across more than 800 billing organisations. The coins can be redeemed for AXS vouchers, which can be used to offset future bill payments. AXS operates one of Singapore’s largest bill-payment networks, covering government agencies, utilities, financial services and telecommunications providers. Based on a recent internal survey of AXS and non-AXS users, more than 53% of respondents said utilities and telecommunications bills make up the bulk of their regular payments. AXS said user feedback shows a strong preference for rewards, with 53% of respondents favouring cashbacks and 41% preferring loyalty points. It added that many consumers currently use multiple payment platforms each month to manage different incentives. Quah Chun Han Quah Chun Han, Chief Executive Officer of AXS Payments, said, “Paying bills is an essential but uncelebrated part of daily life, and there’s always a desire for more value from services our users already rely on. AXS has always tried to incentivise it through our very popular lucky draws, and AXS Rewards is another further step in the same direction to improve the bill management experience.” To mark the launch, users who complete a single bill payment on the app will, for a limited period, be able to redeem a guaranteed-win Mystery Box, with vouchers of up to S$88 that can be used toward bill payments. AXS said it plans to expand the rewards catalogue by the second quarter of 2026 to include additional vouchers and offers across categories such as food and beverages, travel, routine services and special experiences.     Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik The post AXS Introduces Rewards Scheme for Users Paying Bills via Its App appeared first on Fintech Singapore.

YouTrip has launched a global eSIM service, allowing users to access mobile data in more than 140 countries through its app. The eSIM lets users purchase, activate and manage roaming data directly within YouTrip’s platform, with real-time usage tracking and upfront pricing. Data plans start from S$1, and the service is available under the Travel section of the app. The official launch follows an early-access rollout in November 2025, which saw strong uptake during the year-end travel period. According to YouTrip, the most popular destinations during the trial phase were China, Japan and Malaysia. One in six early users purchased an eSIM for travel to Malaysia, including short trips to Johor Bahru, while demand for Asia Pacific and Europe data bundles also increased in December. Kelvin Lam Kelvin Lam, Chief Operating Officer of YouTrip, said, ”At YouTrip, we continuously strive to make travel experiences more seamless and convenient for everyone. After transforming how travellers manage cross-border payments, we are now extending that same value-driven approach to mobile connectivity—giving users a simple and cost-effective way to stay connected wherever their journeys take them.” To mark the launch, YouTrip is offering a 50 percent cashback on first-time eSIM purchases made between 28 January and 10 February 2026. The promotion is capped at S$5 per user, limited to the first 2,500 participants, and requires registration via the Promo banner in the YouTrip app. The company is also running an Instagram giveaway from 29 January to 5 February 2026. Users can win YouTrip credits via an in-app game, with prizes of up to S$500 for top-ranked participants and S$100 for selected users who share their results.     Featured image: Edited by Fintech News Singapore, based on image by wahyu_t via Freepik The post YouTrip Launches Global eSIM Across 140 Countries Starting at S$1 appeared first on Fintech Singapore.

Sumsub has introduced a public registry to recognise companies with strong fraud prevention and compliance frameworks, rolling out what it calls the Risk Intolerant badge. The verification and fraud prevention firm said businesses across fintech, crypto, gaming, edtech and mobility can have their controls assessed. Eligible companies receive a badge as public proof of their digital safety efforts. Following its assessments, Sumsub has awarded badges across multiple tiers. Dozens of companies received Vanguard badges, while selected firms such as Exness, Kaizen and Moove were awarded Sentinel badges. CoinList, Mercuryo and Wirex received Titan badges, the highest level of recognition under the programme. Vitaly Gribanov “With our Risk Intolerant project, we’re celebrating the resilience our clients build with us in the fight against fraud. We want to shift the narrative around risk and compliance from reactive to aspirational, and the way we see it is to spotlight the companies doing the hard, often invisible work of managing risks proactively before they turn into crisis. To promote industry-leading practices among peers, we’re taking the lead to assess KYC, AML, fraud prevention and compliance systems of willing participants and provide recognition for those whose efforts in risk mitigation are comprehensive, up-to-date and successful.” said Vitaly Gribanov, Senior Brand and Creative Director at Sumsub. Sumsub said the badges reflect a company’s practices at the time of assessment and do not guarantee future performance or risk-free operations.     Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik The post Sumsub Introduces Risk Intolerant Badge for Fraud, Compliance Practices appeared first on Fintech Singapore.

SUNRATE has expanded into global acquiring after acquiring a payments team with established acquiring systems and merchant operations. The acquisition adds acquiring as a new business line for the payments and treasury management platform. The team brings more than a decade of industry experience and supports merchants across sectors including cross-border e-commerce, online education, gaming, software and SaaS, travel platforms and new retail brands. SUNRATE said the team operates a production-ready acquiring setup that has been used in live operations across multiple markets. Its capabilities include card scheme connectivity, local payment method integration, fraud prevention and regulatory compliance. The unit will operate as SUNRATE’s Global Acquiring Business Unit and work with the company’s compliance, technology and global network teams. SUNRATE is a principal member of Mastercard, Visa and UPI and said it is progressing towards acquiring memberships with additional international card schemes. Paul Meng “Looking ahead, SUNRATE will continue to invest in product and service innovation, including the application of AI and other advanced technologies. We will also expand our service boundaries through strategic partnerships or acquisitions, further strengthening our global footprint and long-term capabilities,” said Paul Meng, Co-founder of SUNRATE. With the launch of global acquiring, SUNRATE said it now offers a more integrated payments setup that allows enterprises to manage payment acceptance, reconciliation, settlement, cross-border clearing and local payouts through a single platform.     Featured image: Edited by Fintech News Singapore, based on image by Trend2023 via Freepik The post SUNRATE Adds Global Acquiring to Payments Offering appeared first on Fintech Singapore.

Mastercard has launched a new service aimed at helping enterprises adopt agentic AI as software and business workflows become more autonomous. The offering, called Mastercard Agent Suite, combines advisory support with configurable AI agents that businesses can build, test, and deploy for specific operational needs. It draws on Mastercard’s payments infrastructure, data capabilities, proprietary platforms, and a global advisory network of around 4,000 advisors, with structured workshops available to help customers define their agentic AI strategy and roadmap. Mastercard said enterprise demand is rising as agentic AI becomes more embedded in business software. The company cited industry forecasts indicating that about a third of enterprise applications are expected to incorporate agentic AI by 2028, with AI agents supporting a growing share of customer interactions and operational tasks by 2030. Kaushik Gopal “Readiness is the new competitive advantage. It’s no secret that those who lay the groundwork can embrace new commercial opportunities much faster. Mastercard Agent Suite builds on our core strengths and capabilities to ensure our customers can be both nimble and practical as they turn innovation into outcomes.” said Kaushik Gopal, Head of Insights and Intelligence for Mastercard. The suite is expected to be available in the second quarter of the year and will complement Mastercard’s existing AI and agentic AI offerings across payments security, customer experience, and data-driven insights. The company said agents developed through the service will follow its privacy, responsible AI, and security standards. Initial use cases are expected to focus on banks and merchants. Banks may use agents to recommend products such as travel cards or fee-saving accounts, while merchants can configure agents around inventory, pricing, promotions, and brand voice to support conversational shopping. The launch also forms part of Mastercard’s broader agentic commerce push, including a dedicated agentic commerce and services track within its Start Path startup programme.     Featured image: Edited by Fintech News Singapore, based on image by Mastercard  The post Mastercard Launches Agentic AI Suite for Banking, Retail Automation appeared first on Fintech Singapore.

Saxo has launched AutoInvest in Singapore, offering an automated way for investors to put money into ETFs on a regular basis. The feature allows clients to set a fixed monthly investment amount and allocate it across up to 10 ETFs from a list of more than 100 options. Once activated, investments are executed automatically each month, with users able to adjust, pause or stop the plan at any time. AutoInvest is available to all Saxo account holders and does not require a minimum investment or lock-in period. ETF purchases made through the feature are commission free, and investors can buy fractional units, allowing them to start with smaller amounts. The firm said AutoInvest is intended to simplify long term investing and provide a lower cost alternative to traditional managed funds or mutual funds, which typically charge ongoing fees that can reduce returns over time. Mahesh Sethuraman Mahesh Sethuraman, Singapore CEO said, “To truly serve the broadest population, investing must feel simple – not overwhelming. AutoInvest cuts through decision fatigue, lowers costs, removes the pressure of timing the market, and aligns with real human behaviour. This makes long-term investing both accessible and rewarding. With AutoInvest, Saxo has removed every barrier that stands between people and their journey towards financial independence.”     Featured image: Edited by Fintech News Singapore, based on image by RSplaneta via Freepik The post Saxo Adds Automated ETF Investing Feature for Singapore Users appeared first on Fintech Singapore.

HitPay has launched a new feature called Borderless QR to help merchants accept QR-based payments from international visitors across Asia. The Singapore-based payments platform said the solution allows merchants to generate transaction-specific QR codes that support multiple regional and international wallet standards without requiring separate technical integrations. The feature is available to more than 20,000 MSMEs on HitPay’s network. With Borderless QR, merchants enter a sale amount and select the customer’s home country to generate a QR code that can be scanned using the visitor’s preferred wallet. Customers pay in their home currency, while merchants receive settlement in their local currency, typically by the next day. HitPay said transactions are processed at mid-market exchange rates with no additional fees. The feature supports regional QR schemes such as PayNow in Singapore, PromptPay in Thailand, QRIS in Indonesia, VietQR in Vietnam, and QR Ph in the Philippines, as well as international standards including WeChat Pay in China and India’s Unified Payments Interface. Aditya Haripurkar “As Southeast Asia advances its collective digital payment goals, our focus is on making those connectivity practical for small businesses. Borderless QR is about supporting the region’s spirit of collaboration by providing a streamlined checkout flow. Merchants can simply select a customer’s home country to generate a specific QR with a real-time converted amount, ensuring visitors pay with the wallets they trust while merchants continue to settle in their own currency”. said Aditya Haripurkar, Co-Founder and CEO of HitPay. The rollout is initially focused on Singapore, Malaysia, and the Philippines, although HitPay said the feature can be scaled to other markets through a software update. The company said consolidating multiple payment standards into a single checkout flow reduces operational complexity, including time spent on staff training and payment reconciliation.     Featured image: Edited by Fintech News Singapore, based on image by farknot via Freepik The post HitPay Introduces Borderless QR for Merchants to Accept Overseas Wallets appeared first on Fintech Singapore.

OCBC has launched a securities lending programme that allows customers of OCBC Securities, and eventually its private banking arm Bank of Singapore, to lend idle securities to institutional borrowers. The programme is supported by Citi’s Securities Lending Access platform and enables eligible clients to earn fee income while retaining economic benefits such as dividends, coupon payments and bonus issues, as well as the flexibility to sell their securities at any time. Through the platform, OCBC gains access to a global pool of institutional borrowers, including prime brokers and investment banks, which borrow securities for strategies such as short selling, arbitrage and hedging. The programme is currently available to OCBC Securities customers, who can lend out US and Hong Kong shares. It will be extended to Bank of Singapore clients in 2026, starting with equities from Singapore, Hong Kong, the US and Japan. Eligible securities must be held in custody with OCBC Securities or Bank of Singapore. The launch comes as the global securities lending market continues to expand. Data from S&P Global Market Intelligence showed the market generated US$14.9 billion in revenue in 2025, up 27 percent from a year earlier. December revenue reached US$1.2 billion, marking the tenth consecutive month above US$1 billion. Citi launched its Securities Lending Access platform in 2021. Kenneth Lai Kenneth Lai, Head of Global Markets, OCBC, said, “Securities lending brings benefits such as higher trading volumes, price discovery and market efficiency. OCBC Securities and Bank of Singapore customers can also now enjoy the benefits of earning additional return on their investment portfolios by choosing to lend their securities. This development marks an important milestone in our journey, and demonstrates our unwavering commitment to delivering innovative solutions and value to our customers.” Mridula Iyer Mridula Iyer, Asia South Head of Services, Citi, said, “Bringing the benefits of securities lending to a broader base of market participants is important for Citi, and our support of OCBC is a clear demonstration of our strategy in action. By integrating CSLA, we are creating value for OCBC, introducing a significant new pool of untapped securities to the lending market, and expanding Citi’s servicing of private and retail assets in securities lending.”   The post OCBC Taps Citi to Roll Out Securities Lending Programme appeared first on Fintech Singapore.

Singapore-based HeyMax has secured US$11 million in Series A funding as it looks to scale its travel and loyalty platform across multiple Asia Pacific markets. The round was led by Peak XV Partners, with participation from Betatron Venture Group and continued backing from existing investors January Capital and Tenity. Strategic investors include Agoda co-founder and chairman Rob Rosenstein and fintech advisor and former Visa Asia Pacific president David Lee. Founded in 2023, HeyMax operates a platform that allows consumers to earn and redeem rewards across merchants, payment cards, airlines and hotels through its proprietary rewards currency, Max Miles. The company said the funding will support product development, including AI-enabled features, as well as regional expansion. Beyond Singapore and Hong Kong, HeyMax plans to enter Japan, Taiwan and Australia by the end of 2026. Joe Lu “Across Asia-Pacific, travel increasingly shapes how people spend and save, yet rewards remain fragmented across markets. HeyMax unifies earning and redemption across borders so frequent travellers can capture value more easily into one universal travel wallet allowing our customers to travel better and faster. This also gives our partners a stickier, higher-engagement way to reach travellers and tap into the growing flow of spending and loyalty tied to travel across the region. This funding helps us accelerate how consumers earn and redeem travel rewards, scale our platform, and deepen partnerships.” said Joe Lu, CEO and Cofounder of HeyMax. Users earn Max Miles through spending with more than 800 participating merchants, including Trip.com, Shopee, Starbucks and foodpanda. Miles can be redeemed for flights, gift cards or transferred to over 30 airline and hotel loyalty programmes such as Cathay, ALL Accor and Qatar Airways. The platform also offers FlyAnywhere, which enables flight bookings at a fixed redemption rate per mile, and Card Maximiser, a tool that helps users identify the most rewarding Visa card for eligible spending. Founded by four former Meta engineers, HeyMax has grown to more than 150,000 users since raising a US$2.7 million seed round in July 2024 and issues over 500 million Max Miles annually. In 2025, the company expanded beyond Singapore through the acquisition of fintech firm krip and its entry into Hong Kong as its first international market. HeyMax has reported fivefold year-on-year revenue growth and an annualised revenue run rate of about US$6 million, and is targeting strong triple-digit annual GMV growth over the next two years.   The post HeyMax Raises US$11 Million in Series A to Scale Across APAC appeared first on Fintech Singapore.

Indian crypto exchange WazirX has integrated Fireblocks into its operations to strengthen how customer crypto assets are secured. The integration brings Fireblocks’ infrastructure into WazirX’s custody setup, giving the exchange access to tools for digital asset custody, settlement and trading operations, including support for stablecoin payments. WazirX said the move will help it scale faster, operate more securely and expand its blockchain support. Fireblocks provides wallet infrastructure based on multi-party computation, which is designed to remove single points of compromise and strengthen protection for assets held on the platform. WazirX said it will also apply stricter transaction policies and governance controls, alongside real-time monitoring, to reduce unauthorised or anomalous activity. The move comes after a July 2024 cyberattack in which WazirX lost about US$235 million following a breach of a multi-signature wallet. The incident was later linked to a North Korean hacking group. Nischal Shetty Nischal Shetty, Founder of WazirX, said, “Security and asset safety remain a top priority at WazirX. We are continuously reviewing and strengthening our systems to reduce risk and improve resilience as the platform evolves.” Fireblocks provides digital asset infrastructure to more than 2,400 institutions and has reportedly handled transactions worth over US$10 trillion.     Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik The post WazirX Taps Fireblocks to Upgrade Digital Asset Custody appeared first on Fintech Singapore.

Gaming isn’t just a hobby; it’s a global infrastructure challenge. In this episode Vincent Fong (Chief Editor, Fintech News Network) explores the intersection of gaming and fintech with Livia Ang (Global Business Director, NetEase) and Juan Pablo Ortega (CEO & Co-Founder, Yuno). We discuss how NetEase, the powerhouse behind global hits like Marvel Rivals, Eggy Party, and LifeAfter navigates the complexities of international expansion where “standard” payment stacks are no longer enough. Key Discussion Points: The Fragmentation Crisis: Managing 450+ providers through a single API. The D2C Economic Trap: Why saving 30% on app store fees is a loss if your conversion rate drops. Serving the Unbanked: Reaching players in markets where credit cards are not the norm. The post 1.8 Billion Gamers Deserve Better Payment Experience | ft. Yuno & Netease appeared first on Fintech Singapore.

When something goes wrong inside an organisation, the instinct is usually to ask a simple question. Who approved this? That question has anchored corporate accountability for decades as decisions were made by people, systems executed them, and responsibility could usually be traced back to a role, a team, or a signature. Even as automation expanded, that basic logic held. But Agentic AI somewhat unsettles it. As AI systems gain the ability to plan, decide, and take actions across enterprise systems, the familiar lines of responsibility, as always, begin to blur. These systems can now trigger transactions, interact with other systems, and act at machine speed, which most of the time is without a human watching every step. That is why Singapore came up with the Model AI Governance Framework for Agentic AI last week, as a response to this shift. Rather than debating whether AI should be allowed to act, the country’s framework starts from the assumption that it already is. Its focus is more uncomfortable and more practical. Singapore wants to know, if lets say, AI systems are allowed to act, someone must remain meaningfully accountable for what they do. And that someone, is us. Agentic AI Changes the Nature of Responsibility Taken from Model AI Governance Framework for Agentic AI (page 3). Traditional AI systems largely sat on the advisory side of decision-making. They flagged risks, generated insights, or recommended next steps, but humans retained direct control over execution. Agentic AI is different. It more often or not, changes that old dynamic. Agentic systems can decide which tools to invoke, chain multiple actions together, interact with other agents, and adapt their behaviour as situations evolve. They can trigger transactions, update records, send communications, or take operational actions without waiting for a human prompt. The framework is explicit that this shift creates new accountability challenges. Outcomes may emerge from the interaction of multiple agents rather than a single decision. Actions may be taken at machine speed, outside the visibility of any individual operator. Responsibility can easily become fragmented across developers, vendors, and deploying organisations. Without deliberate governance, the result is not just technical risk, but organisational ambiguity. When something goes wrong, it becomes harder to answer who was responsible, who had authority, and who should have intervened. Making Humans Meaningfully Accountable Singapore’s response is not to limit autonomy outright, but to remove any ambiguity about where accountability sits. The  Model AI Governance Framework for Agentic AI repeatedly stresses that delegating tasks to AI agents does not mean delegating responsibility. Organisations remain accountable for the behaviour of the systems they deploy, even when those systems operate independently and even when outcomes arise from complex interactions. What is notable is the emphasis on meaningful accountability. It is not enough for responsibility to exist on paper. We are expected to be able to explain why an agent was given certain permissions, what boundaries were placed around its behaviour, and how its actions are monitored and reviewed. Accountability, in this framing, is not retrospective. It begins at design and continues through deployment, operation, and intervention. If humans cannot realistically understand or control an agent’s scope of action, the framework suggests that the deployment itself may be irresponsible. Infographic edited by Fintech News Singapore based on the Model AI Governance Framework for Agentic AI (page 14-15). Rethinking Human Oversight Beyond Slogans The framework also confronts a long-standing weakness in AI governance discussions. The idea of “human in the loop” has often been treated as a catch-all safeguard, even when it no longer reflects how systems operate in practice. Singapore’s guidance acknowledges that continuous human oversight does not scale once AI agents operate at speed and volume. Expecting humans to approve or review every action is unrealistic, and in some cases misleading. It can create a false sense of control while introducing automation bias, where people defer too readily to system behaviour. Instead, the framework calls for risk-based oversight. Human intervention should be required at points where actions are high-impact, irreversible, or legally sensitive. Examples include executing financial transactions, deleting critical data, or communicating externally on behalf of an organisation. At the same time, organisations are expected to regularly test whether their oversight mechanisms are actually working. Oversight is treated as something that must be maintained and validated over time, not assumed to be effective once implemented. Giving Agents Authority, But Not a Blank Cheque One of the more practical aspects of the framework is how it treats AI agents within enterprise systems. Rather than viewing them as passive tools, it treats them as actors operating with delegated authority. This has concrete governance implications. Agents are expected to have defined identities, scoped permissions, and clear limits on what they are allowed to do. The principle of least privilege is applied directly to agentic systems. An agent should only be able to access the tools and data necessary for its function, and nothing more. Traceability is equally important. Organisations should be able to distinguish between actions taken by humans, actions initiated independently by agents, and actions carried out by agents on behalf of humans. This distinction matters not just for audits, but for assigning responsibility when incidents occur. The framework’s approach mirrors long-standing practices in regulated industries. Authority is delegated deliberately, access is controlled tightly, and actions are logged with accountability in mind. Agentic AI is expected to operate under the same discipline. Accountability Does Not Stop at the Organisation’s Boundary The framework also recognises that agentic AI systems rarely exist in isolation. They often rely on models developed by one provider, agent platforms from another, and tools or APIs maintained by multiple third parties. Singapore’s position is clear. Accountability cannot be outsourced. Organisations deploying agentic AI are expected to understand the limitations of their vendors, assess the controls available to them, and ensure that any gaps in visibility or intervention are acceptable within their risk tolerance. Where responsibilities are shared across parties, they should be explicitly defined through governance arrangements and contracts. Acknowledging that perfect transparency is often unattainable, the framework recognises that organisations cannot realistically maintain absolute control over every link in the AI supply chain. What it requires is honesty about those limits and restraint in deploying agentic systems where accountability cannot be clearly established. A Governance Question That Will Not Go Away Singapore’s framework does not pretend that agentic AI can be made perfectly safe or entirely predictable. It assumes the opposite. Systems will fail, behaviours will surprise, and not every outcome will be traceable to a single decision. What it insists on is clarity. If AI agents are given authority, someone must be prepared to answer for their actions. Accountability cannot disappear simply because a system acted autonomously or faster than a human could intervene. In most organisations, mistakes made by people carry consequences. Decisions are reviewed, responsibility is assigned, and accountability follows. As AI agents take on more responsibility inside enterprises, the harder question is whether organisations are prepared to apply the same standard. If an outcome is unacceptable when a human causes it, should it become acceptable when an AI does? And if the answer is no, who is prepared to be held accountable when the system acts on their behalf? Featured image: Edited by Fintech News Singapore based on images by bunnyhop and f11photo via Freepik. The post Who’s to Blame When AI Goes Wrong? Singapore Seems to Have the Answer appeared first on Fintech Singapore.

Indonesian payment infrastructure provider Artajasa has signed a MoU with Ant International to integrate cross-border payment systems and digital solutions for SMEs. The agreement, signed in Singapore, aims to connect Indonesia’s domestic payment infrastructure with Ant International’s global ecosystem. The partnership focuses on integrating cross-border transactions, implementing AI-driven mobile innovations, and providing digitalisation tools for local merchants. Artajasa currently operates the ATM Bersama network, connecting over 80,000 ATMs and 98 institutions, and serves as the largest QRIS provider with a reach of over 41 million merchants. Ant International, through its Alipay+ gateway, connects approximately 1.8 billion user accounts to 150 million merchants across 100 markets. Commenting on the collaboration, Armand Hermawan, President Director & Chief Executive Officer of Artajasa stated, Armand Hermawan “This MoU reflects our commitment to fostering open collaboration, exchanging insights, and jointly exploring innovative opportunities that will advance the payment ecosystem.” Edward Yue “Indonesia is one of the most dynamic digital economies in the world, and we’re proud to collaborate with Artajasa to further Indonesia’s digital capabilities and learn from the local ecosystem,” said Edward Yue, Alipay+ General Manager for SEA, ANZ and South Asia, Ant International. “Ant International will fully support Artajasa and local Indonesian partners through our technologies and know-how, from payments and beyond, to make innovation accessible to local users and businesses.” The companies will launch the initial phase of the collaboration in 2026. This partnership improves transaction mobility for both Indonesian consumers and international visitors while increasing the global competitiveness of Indonesia’s national payment system.     Featured image credit: Ant International This article first appeared on Fintech News Indonesia The post Artajasa and Ant International to Bridge Indonesia’s QRIS with Global Networks appeared first on Fintech Singapore.

Databricks has appointed Jeremy Cooper as Vice President of Marketing for Asia Pacific and Japan, as the company continues to expand its presence across the region. Cooper has more than 20 years of experience in marketing leadership roles across global cloud and enterprise software companies. He most recently led marketing for Amazon Web Services across Asia Pacific and Japan, where he oversaw regional go-to-market strategy and demand generation across enterprise, public sector, partner and startup segments. Prior to AWS, he held senior marketing roles at Salesforce, Google and LinkedIn, working on global brand and go-to-market initiatives. Based in Australia, Cooper will lead Databricks’ marketing strategy and execution across Asia Pacific and Japan. Joseph Puthussery “Jeremy’s appointment comes at a pivotal moment for Databricks and our customers in Asia Pacific & Japan. He brings a rare mix of deep cloud experience, brand-building expertise, and a great blend of regional and global experience that will be instrumental as we help more organisations in APJ unify and scale their data and AI.” said Joseph Puthussery, Vice President of Global Demand Generation & Field Marketing, Databricks. Jeremy Cooper “AI is driving the most profound technology shift since the advent of the cloud, and Databricks is at the heart of it, helping organisations turn data into true intelligence. What drew me here is the opportunity to help customers build systems of intelligence on the Databricks Data Intelligence Platform, which unifies AI apps, analytics and agents, so every team can work with trusted data, move faster, and make smarter decisions.” said Jeremy Cooper, Vice President of Marketing, Asia Pacific & Japan, Databricks.     Featured image: Edited by Fintech News Singapore, based on image by smartmalik6384 via Freepik The post Databricks Appoints Jeremy Cooper to Lead Marketing Across APAC, Japan appeared first on Fintech Singapore.

Amazon is preparing job cuts that would reduce its corporate workforce by nearly 10% and bring total white-collar layoffs close to 30,000, according to Reuters. The company is expected to begin another round of layoffs next week, with people familiar with the matter saying the scale will be similar to the roughly 14,000 corporate roles cut in October. Amazon declined to comment. The reductions are expected to affect several business units, including Amazon Web Services (AWS), retail, Prime Video and the human resources division known internally as People Experience and Technology, though the final scope could still change. The planned cuts come despite Amazon reporting strong business performance in recent quarters. Amazon initially linked last year’s job cuts to the growing use of artificial intelligence (AI). CEO Andy Jassy later said the reductions were driven by internal complexity rather than financial pressure or AI. He has also said Amazon’s corporate workforce will continue to shrink over time as automation improves efficiency. Although the cuts represent a small share of Amazon’s global workforce of around 1.58 million employees, they would account for a significant portion of its corporate staff. If completed, the layoffs would be the largest in Amazon’s history, surpassing the roughly 27,000 roles eliminated in 2022. Employees affected by the October layoffs were placed on a 90-day notice period, which ends on Monday.     Featured image: Edited by Fintech News Singapore, based on image by mukorathai via Freepik The post Amazon Said to Be on Track for Largest Corporate Layoffs in Its History appeared first on Fintech Singapore.

Pranav Seth has been appointed Chairman of Techcom General Insurance, taking up the role in January 2026. In a LinkedIn post, Seth said he plans to focus on strengthening the relationship between insurance and healthcare in Vietnam, as the country advances its digital and health technology agenda. He also said the company aims to create material impact for millions by rethinking how insurance products and services are designed and delivered. Seth said Techcom General Insurance will draw on Techcombank’s digital and data capabilities, as well as partnerships in health technology, to support this direction. He joins the insurer after serving as Chief Digital Officer at Techcombank from 2021 to 2026. Techcom General Insurance is a general insurance company established by Techcombank, one of the largest joint-stock commercial banks in Vietnam. Prior to that, he spent more than a decade at OCBC Bank, where he led digital and innovation initiatives, and earlier worked at McKinsey & Company and Bell Labs.     Featured image: Edited by Fintech News Singapore, based on image by ilygraphic via Freepik The post Pranav Seth Appointed Chairman of Techcom General Insurance appeared first on Fintech Singapore.

Fraud in the Asia Pacific is growing at an explosive pace and scale, forcing financial institutions to rethink where and how they detect risk. This threat has evolved from a consumer issue into a trillion-dollar cybercrime economy that legacy controls can no longer withstand. Regulators are responding with stronger action, with Singapore introducing the Scam Bill and Malaysia rolling out a National Fraud Portal to drive earlier intervention. As criminals increasingly exploit the earliest stages of the customer journey, financial institutions now need smarter ways to detect high-risk users before onboarding even begins. Getting a snapshot of current fraud trends in the region Understanding how regulators are reshaping financial crime safeguards Leveraging emerging technologies to stay ahead of fast-moving threats Speakers: Vincent Mok, Group Chief Risk Officer at GXS Bank Arun Muraleedharan, SVP, Fraud Program Management, UOB Sateesh Reddy, Group CTO, Tonik Troy, Htwe Nyi Nyi, SVP & GM, APAC, SEON Moderator: Vincent Fong, Chief Editor, Fintech News Network The post Webinar: Inside Asia Pacific’s Fraud Crisis and the Battle to Stop It appeared first on Fintech Singapore.

Payoneer has received in-principle approval from the Reserve Bank of India to operate as a cross-border payment aggregator. The authorisation enables Payoneer to expand its operations in India and offer end-to-end cross-border payment services to Indian importers and exporters. The company said SMEs will be able to access a wider range of its products, including accounts payable services, alongside simpler onboarding and customer verification processes. Payoneer has been operating in India for more than a decade and serves businesses involved in international trade. Rohit Kulkarni “Our in-principle authorisation from the Reserve Bank of India is a testament to our more than decade-long presence in the local market and support of India’s thriving export economy, which is projected by the India Department of Commerce to exceed $850 billion in 2026. With the PA-CB authorisation, we will be equipped to provide comprehensive cross-border payment solutions for both import (Outward) and export (Inward) transactions, helping Indian businesses tap into new opportunities and scale globally.” said Rohit Kulkarni, CEO, Payoneer India. Globally, Payoneer operates in over 190 countries and territories and works with nearly 100 banking and payment partners. Over the 12 months ended in the third quarter of 2025, the company reported serving close to two million active customers and processing more than US$80 billion in transaction volume. Payoneer is regulated across several major markets, including the United States, Europe, the United Kingdom, Hong Kong, Japan, Singapore, China and Australia, supporting businesses and marketplaces in managing international payments.     Featured image: Edited by Fintech News Singapore, based on image by Freepik The post Payoneer Moves Closer to Full Licensing in India With In-Principle Approval appeared first on Fintech Singapore.