Editorial

newsfeed

We have compiled a pre-selection of editorial content for you, provided by media companies, publishers, stock exchange services and financial blogs. Here you can get a quick overview of the topics that are of public interest at the moment.
360o
Share this page
News from the economy, politics and the financial markets
In this section of our news section we provide you with editorial content from leading publishers.

TRENDING

Latest news

Shareholders Reject Great Eastern Delisting, Paving Way for SGX Trading to Resume

Great Eastern Holdings is set to resume trading on the Singapore Exchange after shareholders rejected a proposal to delist the insurer, Channel News Asia reported. At an extraordinary general meeting on 8 July, only 63.49 percent of minority shareholders supported the delisting, falling short of the 75 percent required. OCBC, the insurer’s majority shareholder, and its concert parties abstained from voting. The bank had offered S$30.15 per share for the 6.28 percent of Great Eastern it did not own, and had stated it would not make another offer if the delisting was blocked. Following the vote, the bank confirmed its conditional exit offer had lapsed and reiterated it has no plans for further offers “in the foreseeable future.” OCBC raised its stake in Great Eastern to 93.72 percent in October 2024, a level it said would allow for greater operational synergies and a larger share of the insurer’s value. The bank said it is satisfied with its current holding and will continue integrating Great Eastern into its broader financial services group. Trading in Great Eastern shares has been suspended since July 2024 after the public float fell below the 10 percent minimum required by SGX. This came after OCBC acquired an 11.56 percent stake in May 2024 at S$25.60 per share. Shareholders also passed two resolutions to restore the company’s public float and resume trading. To do this, Great Eastern will carry out a one-for-one bonus issue of shares. Investors can choose to receive either ordinary shares, which will be listed and traded, or Class C non-voting shares, which are not listed but carry dividend rights. OCBC has opted for the non-voting shares, which contribute to earnings without affecting the trading float. The bank said it will not convert these shares into voting shares after the five-year lock-up, to avoid a drop below SGX’s minimum free float. Great Eastern will announce the bonus issue timeline via SGXNET. Shareholders who want ordinary shares do not need to take any action. The insurer has contributed an average of about S$700 million annually to OCBC’s net profit over the past 11 years, accounting for roughly 15 percent of the group’s total earnings.     Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik   The post Shareholders Reject Great Eastern Delisting, Paving Way for SGX Trading to Resume appeared first on Fintech Singapore.

Read More

SMFG Sets up Agentic AI Venture in Singapore Led by Ahmed Mazhari

Sumitomo Mitsui Financial Group (SMFG) is launching a new agentic AI venture headquartered in Singapore, appointing Ahmed Mazhari as CEO. The company will focus on building and deploying enterprise-grade AI agents that can learn, reason, and act autonomously in complex business environments. The venture is part of SMFG’s dual-engine strategy to accelerate its transformation into an AI-driven financial institution. One engine focuses on internal change within SMBC Group, while the other scales new AI capabilities externally through commercial offerings. SMFG has committed JPY 800 billion to digital transformation efforts, with JPY 50 billion specifically allocated for generative AI initiatives. The new company will first implement its solutions within SMBC Group, acting as “customer zero,” before expanding into the broader enterprise market. Ahmed Mazhari Alongside his role as CEO of the new venture, Mazhari has been appointed Executive Advisor for AI Transformation. He will lead initiatives supported by the Group Management Committee, including upgrading digital infrastructure, developing internal AI capabilities, and integrating autonomous AI systems into SMBC Group’s core business. This move builds on existing programmes like SMBC-GAI and AI-CEO, which have laid the foundation for AI adoption across the group. SMFG’s long-term goal is to embed AI throughout its operations and offer these capabilities to corporate clients and the wider ecosystem. Mazhari brings over 20 years of experience in technology and business leadership, having held senior roles at GE Capital, Genpact, and Microsoft Asia, where he helped scale AI delivery frameworks and regional operations.     Featured image: Edited by Fintech News Singapore, based on image by digitizesc via Freepik     The post SMFG Sets up Agentic AI Venture in Singapore Led by Ahmed Mazhari appeared first on Fintech Singapore.

Read More

Zepto Releases PayTo Index as Australia Shifts from Legacy Payment Systems

Zepto, an Australian account-to-account (A2A) payments provider, has released its first PayTo Index, offering a snapshot of national PayTo adoption as the country transitions away from the Bulk Electronic Clearing System (BECS), which is scheduled to be phased out by 2030. PayTo enables businesses to collect payments in real time directly from customers’ bank accounts, providing an alternative to traditional direct debits. It operates on the New Payments Platform (NPP), Australia’s open-access infrastructure for real-time payments launched in 2018. Between October 2023 and April 2025, Zepto settled more than 800,000 PayTo transactions, amounting to over A$511 million. By July 2025, that figure had surpassed one million transactions, with a total value exceeding A$612 million. The reported payment conversion rate reached 99.03%, with a median settlement time of under five seconds. Account-on-File transactions represented 70% of activity on Zepto’s platform, with recurring and one-off payments making up the remainder. Consumer use of PayTo rose steadily, with an 80% increase in transactions between the second and third quarters of FY25. The median consumer spend during this period was A$352.64, and the average number of transactions per active account was 6.01. The Index highlights Red Energy, a national utility provider, as an early PayTo adopter. According to Red Energy’s Retail Financial Controller, Anthony Young, Anthony Young “Red Energy’s partnership with Zepto is about improving our customers’ experience and providing them with faster and more secure payment options. The ability to interact with our customers in real time was a big driver for us in adopting PayTo early. At the same time, PayTo is another step forward in our broader digital evolution, expanding the ways in which our customers can interact with us.” Retailers and investment platforms were also noted as active participants, particularly in using Account-on-File for repeat transactions. Despite increasing uptake, the Index points to ongoing barriers to wider adoption. Currently, 90% of retail A2A payments in Australia still rely on BECS. Issues include inconsistent authorisation processes across banks, resulting in wide variability in customer conversion rates. During the third quarter of FY25, bank conversion rates ranged from 35.88% to 73.13%, contributing to an average PayTo agreement conversion rate of 54.52%. Other challenges include dependence on legacy billing systems and limited consumer awareness of PayTo’s benefits. Zepto has called for coordinated action across government, banking, and industry stakeholders to accelerate adoption. Chris Jewell, Zepto’s President and Co-Founder, said, Chris Jewell “Real-time payments via PayTo and the NPP aren’t just technology upgrades, they’re the foundation for a faster, safer, and more customer-centric economy. The time for true industry collaboration is now so we can enable swift PayTo adoption across the market that puts consumers first.”   Featured image credit: Edited by Fintech News Singapore, based on image by anankkml via Freepik The post Zepto Releases PayTo Index as Australia Shifts from Legacy Payment Systems appeared first on Fintech Singapore.

Read More

Singapore Fintech Finmo Expands into UK with New Payment License

Singaporean fintech firm Finmo has received authorisation from the UK Financial Conduct Authority to operate as an Electronic Money Institution (EMI), allowing it to provide payment and treasury services in the country. The license permits Finmo to issue electronic money, process domestic and international fund transfers, offer foreign exchange services, and issue IBANs. It also allows the company to hold safeguarded client funds in the UK and connect directly to local clearing systems, including Faster Payments and CHAPS. Founded in 2021 by David Hanna, Akhil Nigam, Richard Oh, Raj Vimal Chopra, and Thomas Kang, Finmo offers an integrated treasury and payments platform for finance teams managing multi-entity operations. The UK will serve as a core hub in the company’s hub-and-spoke expansion model, which includes regulatory approvals in Singapore, Australia, New Zealand, Canada, and the United States. The license supports Finmo’s plans to scale embedded finance offerings and strengthen partnerships with capital market providers for liquidity and FX risk management. Initial UK rollouts include GBP-denominated accounts and Faster Payments access. Finmo is also expanding its UK compliance and operations team to support mid-market firms headquartered in the UK, international businesses with cross-border operations, and companies with complex treasury needs. Its platform features MO AI, a conversational assistant embedded within its intelligent treasury system. Built for CFOs and finance teams, MO AI enables users to retrieve balances, initiate payments, analyse transactions, and generate reports using simple prompts. David Hanna David Hanna, CEO and Co-founder of Finmo said, “Securing our EMI license in the UK signals more than just regulatory approval, it’s a commitment to serving clients in one of the world’s most advanced financial ecosystems. From fintechs to mid-sized global companies we’re here to empower modern finance and payment teams with greater control, visibility, and confidence in their global treasury operations.”     Featured image: Edited by Fintech News Singapore, based on image by Finmo     The post Singapore Fintech Finmo Expands into UK with New Payment License appeared first on Fintech Singapore.

Read More

Fourth Generation Payment Networks Crucial for Trillion-Dollar Digital Economy, Study Says

A new whitepaper titled The Future of Global Payments & Fourth Generation Payment Networks (4GPN) has been jointly released by the Thunderbird School of Global Management and fintech firm Wiseasy. The paper outlines how emerging technologies such as IoT, blockchain, cryptocurrency, and cloud computing are converging to transform the digital payments industry, with Fourth Generation Payment Networks (4GPN) playing a central role. The global digital payments market is expected to grow from US$10.18 trillion in 2024 to US$32.07 trillion by 2033, according to industry estimates. This projected compound annual growth rate of 13.6% reflects a significant move toward cashless economies, influenced by fintech developments, financial inclusion policies, and new payment infrastructure models like 4GPN. The whitepaper provides a detailed look at the factors driving this evolution, including the rise of digital wallets, buy now pay later (BNPL) services, central bank digital currencies (CBDCs), and stablecoins. It positions 4GPN as a flexible and scalable infrastructure designed to integrate both traditional payment methods such as EMV cards and newer options like biometrics and digital currencies. The paper emphasises that 4GPN can address the needs of both banked and unbanked populations, across both emerging and mature markets. Citing World Bank data, the paper notes that 1.7 billion adults remain unbanked globally, despite 1.1 billion of them owning mobile phones. It argues that mobile-first 4GPN systems could bridge this gap by enabling secure and real-time payments that work across platforms. Comparative Evolution of Payment Network Generations The whitepaper also covers regional trends, such as the dominance of super apps in Asia-Pacific and mobile-driven financial inclusion in Latin America. It explores the role of artificial intelligence in fraud prevention, the potential of account-to-account (A2A) transactions, and the need for clear regulatory frameworks to support innovation. Developed with input from industry professionals and drawing on data from McKinsey, Statista, and the World Bank, the report serves as a reference for policymakers, payment providers, and financial institutions examining developments in the global payments landscape. Download The Future of Global Payments & Fourth Generation Payment Networks (4GPN) whitepaper here.      Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik The post Fourth Generation Payment Networks Crucial for Trillion-Dollar Digital Economy, Study Says appeared first on Fintech Singapore.

Read More

Lessons from Tyme Group’s Coen Jonker on Building a Fintech Unicorn

Coenraad (Coen) Jonker, Founder and CEO of Tyme Group, radiates quiet confidence, driven by his staunch belief that banking can always be rebuilt for the better. This is the mind behind Tyme Group, the digital banking business that began in South Africa with a simple mission: to bring the unbanked into the fold, profitably and at a population scale. In a sector famous for promising inclusion, Tyme has successfully delivered real impact to millions of customers without concern for borders, referring to itself as a multi-country digital bank. Today, Tyme calls Singapore home, with 15+ million customers across South Africa, the Philippines, and soon Indonesia. TIME magazine also recently included Tyme on their 2025 list of the 100 Most Influential Companies, ranking it alongside Apple and Nubank. And yes, Tyme is a fintech unicorn, backed by the likes of Tencent, Gokongwei Group, ARC Investments, and most recently, NuBank. Coen sat down in conversation with our Chief Editor, Vincent Fong, where he opened up about a chance elevator ride that superchanged his company’s vision, his obsession with serving human potential, and how boxing helps him keep his warrior spirit alive across continents. Luck is When Opportunity Meets Preparation Coen reflected on what many call “luck,” describing it instead as a dance between how the world shapes us and how we respond in return. A perfect illustration of this, for Coen, came at the end of 2023. At an Endeavor black-tie event, Coen happened to share a lift with David Vélez, founder of Nubank, one of the world’s largest fintech banks in Latin America. What began as a chance elevator conversation turned into a game-changing partnership. Later that night, Coen remembered telling his colleagues, “Wouldn’t it be amazing if these guys invested in us?” Then, just a few months later, Coen got a call out of the blue from David. Nubank had done a piece of research on the best countries to do digital banking in, and Tyme was active in quite a few of them. It seemed like the perfect time to have connect and have a chat. David Vélez, Founder and CEO of Nubank And as they say, Coen added, the rest is history. Coen quipped and shared that his wife always told him he’s very lucky. He says that while that is true, he also believes that luck is where opportunity meets preparation. You have to keep broadening the surface area for luck to land, by building relationships, showing up, and connecting with people. That’s how you make sure luck finds you, and your business, again and again. How to Build a Fintech Unicorn Vincent posed a question that has undoubtedly crossed many founders’ minds. It’s easy to be a successful founder when the market is booming, but the true test comes in times of crisis, similar to what Coen experienced in 2022. Sure, unicorns are more common now than they were a decade ago, yet many founders grapple with the art of raising funds to scale and sustain their businesses. How can they navigate that, he asked Coen? “Valuation is an outcome, like happiness. It’s not the mission,” Coen reflected. @fintechnewsnetwork Storytelling is the superpower of entrepreneurs Coen Jonker Founder, Tyme Group explains the secrets to becoming a unicorn #fintech #banking #innovation #entrepreneur #Asia #unicorn #fyp #foryou ♬ original sound – Fintech News Network – Fintech News Network He cautioned that founders too often obsess over headline valuations. That can quickly become unhealthy, especially in volatile markets, where a sky-high valuation today can turn into a burden tomorrow. Founders should instead focus on striking a fair deal that balances rewards for early believers and incentives for new investors, ensuring everyone stays motivated for the long haul. Beyond valuation, Coen emphasised what he called the superpower of entrepreneurs: storytelling. A narrative grounded in integrity, anchored to true substance. “Telling a good story is extremely important, but telling it in a way that has integrity that is well aligned to the substance of your business is equally important, too.” Good investors, he argued, do not expect perfection, but they do expect honesty and conviction. Overselling is a temptation, but authenticity is far more powerful. Finally, Coen sees the cap table as a support system. He shares that Tyme has been lucky to count Tencent, British International Investment (BII), and African Rainbow Capital among its backers, partners who have stood by the team while holding them to a higher standard. His advice here is clear: choose partners who bring not only capital, but also wisdom, accountability, and staying power, the hallmarks of smart money. These are people you trust, respect, and genuinely want to spend time with, because as Coen put it simply, “You’re going to be spending a lot of time with them.” What Founders Can Learn from Greek Mythology Coen shared that a dual mindset, or rather archetypes, is essential for a founder to survive. At the start, he explained, you are Prometheus.  Stealing fire from the gods, ready to change the world and give something back to humanity. That is the spark that sets everything in motion. But once that story is told, he continued, you become Sisyphus. Each day, you push the boulder uphill, only to watch it roll back down and start again. The grind, the setbacks, the weight of responsibilities; these are the hidden truths of building a business. You have to find meaning in that suffering. “You want to be a visionary. But a visionary is somebody who understands that relationship between the truth, the world of the impossible, and what you can achieve. And once you’ve told a story? You don’t stop working night and day until that story becomes a reality.” @fintechnewsnetwork What Greek Mythology Teaches us About Entrepreunership Coen Jonker, Chairman and Co-Founder of Tyme Group shared valuable lessons about what we can learn from Greek figures like Prometheus and Sisyphus #fintech #banking #innovation #entrepreneur #Asia ♬ original sound – Fintech News Network – Fintech News Network Carpe Diem, Seize the Day As the conversation drew to a close, Coen reflected on the most valuable lesson of his remarkable journey, a philosophy shaped by his father, a dear mentor, and one of his favourite writers. His father would tell him every day, as he dropped Coen off, to “Carpe diem — seize the day.” Similarly, a leadership guru taught him, “Pitch up. Pay attention.” Finally, Coen shares that the writer Eckhart Tolle inspired him with the idea that greatness isn’t in the size of your ideas, but in the quality of attention you give to each moment. “Be here. Now,” Coen shared. “It’s the only place life happens, and it’s the only place where magic can happen.” It’s a mindset that has guided him through challenges, growth, and even the boxing ring. Because, as he joked, if you aren’t fully present in boxing, you’ll get punched in the face, just like in business. If you’d like to go even deeper into Coen’s stories and hard-earned wisdom, catch the full podcast episode on YouTube right below. Also, watch out for Coen’s role as one of the judges at this year’s Fintech Frontier 50, where he’ll help recognise and celebrate Southeast Asia’s most promising fintech innovators. Featured image: Edited by Fintech News Singapore, based on image by Nubank The post Lessons from Tyme Group’s Coen Jonker on Building a Fintech Unicorn appeared first on Fintech Singapore.

Read More

Suttipong Kanakakorn Appointed CEO of SCB TechX

SCB TechX, a provider of strategic consulting and digital transformation services under the SCBX Group, has appointed Suttipong Kanakakorn as its new CEO, effective 7 July 2025. Suttipong brings more than two decades of experience in technology and finance, with a background spanning both local and global markets. He has held leadership roles at major tech companies in Silicon Valley, including Nutanix, Cisco, Andiamo Systems, and Savvion. Suttipong also co-founded Blockfint, a firm focused on blockchain and digital solutions for the financial industry. He is recognised for his expertise in blockchain technology and digital platform engineering. His appointment is expected to support SCB TechX’s broader vision of developing scalable digital platforms and driving innovation in financial services. The company said it remains focused on strengthening its technology capabilities to help clients navigate rapid changes and drive long-term growth.     Featured image: Edited by Fintech News Singapore, based on image by Trend2023 via Freepik The post Suttipong Kanakakorn Appointed CEO of SCB TechX appeared first on Fintech Singapore.

Read More

These 6 Automation Tips Could Help Southeast Asia’s E-Wallets Stay Ahead of the Competition

Southeast Asia’s e-wallet landscape is a vibrant yet chaotic arena, shaped by rapid digital adoption, fierce competition, and an unrelenting push for financial inclusion. Digital-first players are racing to reshape customer expectations, while a broader transformation is underway to evolve from “super apps” into truly integrated “life apps.” At the heart of this transformation lies a decisive enabler: automation. Source: The Future of E-Wallets in Southeast Asia, Capco From seamless onboarding to hyper-personalised financial recommendations, automation is quickly becoming the essential backbone that allows e-wallets to scale, differentiate, and remain competitive in a region where user expectations are rising fast. Nikkei Asia projects that the ASEAN digital payments market could reach US$2 trillion by 2030, underscoring the massive opportunity. In this article, we unpack key insights from Capco’s latest report, The Future of E-Wallets in Southeast Asia, to explore how automation and the evolution of e-wallets into holistic life apps could become true game-changers, driving scale and shaping the region’s digital payments landscape. The Backdrop of the Southeast Asian E-Wallet Market The Southeast Asian digital payments market has grown at breathtaking speed, driven by a youthful, tech-savvy population, high smartphone penetration, and a sustained push for financial inclusion. Platforms like TNG eWallet, GrabPay, GCash, and GoPay have revolutionised the way millions of people store, transact, and manage their daily financial needs. Source: The Future of E-Wallets in Southeast Asia, Capco Yet these core payment functions are increasingly commoditised, and no longer enough to capture long-term user loyalty. Consumers are demanding more. And their voices are impossible to ignore, with regional e-wallet adoption reaching 79% by Q4 2023. Today’s users expect a seamless, secure, and intelligent digital companion that helps them navigate broader aspects of their lives, from managing budgets and accessing credit to booking travel or even taking care of their health. 6 Ways Automation Drives Success for Life Apps Life apps will fundamentally depend on automating customer interactions and the processes beneath them. As these platforms integrate financial services, travel, retail, and daily lifestyle offerings into a single scalable ecosystem, automation becomes critical to delivering the frictionless, personalised experiences that users now demand. Here are six ways automation can support growth in key areas: #1 Frictionless onboarding Customers should be able to open accounts within minutes, with little documentation, allowing instant and effortless entry into the digital financial ecosystem. #2 Seamless authentication Advanced biometric tools, including fingerprint and facial recognition, will enhance security while simplifying the login and transaction experience for the user. #3 Hyper-personalised financial solutions Data-driven insights will enable offerings tailored to each user’s profile, such as adjusting credit limits in real time based on spending patterns, to support responsible and flexible borrowing. #4 Accelerated lending decisions Artificial intelligence combined with automated risk assessments will enable instant approvals for products like microloans and Buy-Now-Pay-Later, providing faster access to credit. #5 AI-driven customer support Intelligent chatbots will redefine service expectations by resolving queries, tracking transactions, and handling issues around the clock, enhancing user satisfaction at scale. #6 Intelligent loyalty programs Automated rewards systems that adapt dynamically to user behaviour will deepen engagement and encourage ongoing platform usage. Evolving Beyond Payments The ambition for e-wallet players is clear: to become the digital and financial companion people cannot live without. Staying ahead means going beyond payments and investing in technology that can truly scale, such as cloud-native, API-first systems that keep platforms agile, resilient, and ready to evolve. Partnerships will also matter more than ever. By teaming up with e-commerce, transport, and lifestyle brands, e-wallets can build richer, more connected ecosystems that meet people wherever they are. Regulation compliance is also mission-critical. As cross-border payments become easier, platforms will need to walk a careful line between pushing innovation forward and keeping regulators onside. Above all, putting customers at the centre is non-negotiable. Artificial intelligence, automation, and data-driven insights will enable hyper-personalised and more accessible financial services, building trust and loyalty in a market where expectations are higher than ever. The players that think boldly, move responsibly, and put their users first will shape Southeast Asia’s next phase of digital e-wallets successfully, and cement their place as financial partners in people’s everyday lives. Featured image: Edited by Fintech News Singapore, based on images by Frolopiaton Palm via Freepik, and Who is Danny via Freepik The post These 6 Automation Tips Could Help Southeast Asia’s E-Wallets Stay Ahead of the Competition appeared first on Fintech Singapore.

Read More

OCBC Targets S$5 Billion in Serial Entrepreneur Loans by 2028, Broadens Regional Reach

OCBC plans to increase its financing for serial entrepreneurs to S$5 billion by 2028, expanding a programme first launched in Singapore in 2019. According to The Business Times, the bank aims to deploy an additional S$3.5 billion across its key markets, building on the S$1.5 billion already extended to more than 1,800 entrepreneurs operating over 8,000 businesses in Singapore and Malaysia as of end-2024. The initiative, which recently launched in Malaysia following a pilot, is set to be introduced in Hong Kong by the end of 2025 and later in Indonesia. OCBC defines serial entrepreneurs as individuals with a majority stake in more than one business. The bank’s data shows that one in three companies in Singapore are founded by serial entrepreneurs, while in Malaysia, nearly half of the small businesses OCBC serves are owned by this group. Internal figures also indicate that ventures led by serial entrepreneurs have a 30 per cent lower non-performing loan rate compared to those run by first-time founders. Rather than evaluating businesses individually, the bank assesses an entrepreneur’s ventures as a group. This consolidated approach considers the entrepreneur’s overall track record when determining financing eligibility, which can benefit new ventures that may not yet have a profit history. Each entrepreneur is supported by a relationship manager with access to specialists in cash management, corporate advisory, and wealth planning. This structure allows OCBC to provide more tailored support and address funding gaps not typically served by traditional models. In Malaysia, OCBC officially rolled out the programme earlier this month after a year-long pilot. During the pilot phase, about 300 companies took up more than RM850 million in loans. OCBC Malaysia’s head of wholesale banking said a third of entrepreneurs who were offered principal loans opted into the programme, indicating strong market demand. The Malaysian arm has adapted the group-based lending model to suit local needs, offering access to capital without requiring a new business to operate for two years before qualifying for financing. It also provides support through the OCBC Velocity platform, which allows entrepreneurs to manage financial activities across ventures through a single login. The initiative is part of OCBC’s broader strategy to support the growth of entrepreneurs operating multiple ventures, positioning the bank as a long-term partner in their expansion journey.     Featured image: Edited by Fintech News Singapore, based on image by OCBC The post OCBC Targets S$5 Billion in Serial Entrepreneur Loans by 2028, Broadens Regional Reach appeared first on Fintech Singapore.

Read More

Revolut Users Can Now Send Money to China via Alipay

Revolut has teamed up with Ant International to let users around the world, especially overseas Chinese, send money to China in Chinese Yuan using Alipay. Transfers can be made using just the recipient’s Alipay ID, name, and address, and are processed instantly. The service is powered by Ant International’s global remittance infrastructure. This feature supports growing demand for cross-border payments into China, which remained one of the world’s top five remittance destinations in 2024, receiving an estimated US$48 billion. A 2023 report also found that China was the most common destination for remittances sent from Singapore. Revolut offers a tiered fee structure for these transfers: Standard customers are charged 0.15% with a minimum fee of S$5.90, Premium customers pay 0.12% with a minimum of S$4.72, and Metal users get fee-free transfers. The maximum fees are capped at S$400 for Standard users and S$320 for Premium users, depending on the currency and destination. The new offering adds to Revolut’s suite of global money transfer services, which includes Instant Card Transfers, bank transfers, mobile wallet transfers to services like bKash in Bangladesh and M-Pesa in Kenya, as well as free peer-to-peer transfers between Revolut users. The company recently lowered its fees for sending money in the local currency of a recipient’s country, reducing the cost from 0.40% to 0.15% for Standard users and from 0.20% to 0.12% for Premium users. Alipay, launched in 2004, is China’s most widely used payment app and is one of 36 e-wallets supported by Alipay+ under Ant International. Raymond Ng “We are thrilled to partner with Ant International, to enable our 50 million customers globally to transfer money to China almost instantly via Alipay. Our partnership with Ant International underscores our commitment to providing fast, secure and cost-effective solutions for global money transfers, further empowering our customers to manage their finances conveniently across borders.” said Raymond Ng, Chief Executive Officer, Singapore and Southeast Asia, Revolut. Jacques Xu “We are grateful to collaborate with industry leaders like Revolut to redefine cross-border remittance experiences. Through Ant International’s solutions, we are enabling more partners to easily manage and grow their remittance business while meeting customers’ needs on speed and security, “ said Jacques Xu, General Manager of Global Remittance Business, Ant International.   The post Revolut Users Can Now Send Money to China via Alipay appeared first on Fintech Singapore.

Read More

ShopBack Goes Beyond Rewards With MAS Nod for Payments License

ShopBack, a shopping and rewards platform in Asia-Pacific, has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS). Issued under the Payment Services Act, the license permits ShopBack to provide regulated payment services through its payment product, ShopBack Pay. This allows ShopBack to enable merchants to accept payments and let customers pay using ShopBack Pay, all under its own licensed infrastructure. The approval marks a key step in ShopBack’s efforts to deepen its payments capabilities in Singapore. With ShopBack Pay now operating under formal regulatory oversight, the company said it is better positioned to scale its payment offering, strengthen merchant partnerships, and introduce new features supported by a secure framework, with plans to expand beyond Singapore over time. Huanmin Huang Huanmin Huang, Acting CFO and Chief of Staff, ShopBack, said, “Receiving this Major Payment Institution license marks a foundational milestone for ShopBack. It reflects MAS’s trust in our ability to operate responsibly and gives us the infrastructure to scale ShopBack Pay in a way that’s smarter, faster, and more secure — while continuing to deliver value to both users and merchants.”     Featured image: Edited by Fintech News Singapore, based on image by ake1150sb via Freepik       The post ShopBack Goes Beyond Rewards With MAS Nod for Payments License appeared first on Fintech Singapore.

Read More

Worldpay Expands APAC Footprint with Entry into Thailand

Worldpay has extended its Asia Pacific presence by launching domestic acquiring capabilities in Thailand. This enables local and international merchants to process transactions in Thai baht and offer local payment methods. This addition brings Worldpay’s domestic acquiring footprint in the region to nine markets, alongside Australia, New Zealand, Singapore, Hong Kong, Japan, Malaysia, India, and South Korea. Thai merchants will be able to settle card payments locally and access four widely used alternative payment methods: LINE Pay, TrueMoney, PromptPay, and online banking. The company is also offering fraud protection, dispute management, and consultative expertise backed by global data insights. The move is aimed at helping businesses tap into Thailand’s fast-growing e-commerce market, which Worldpay projects will grow at an annual rate of 9% through 2030. The Thailand launch follows similar expansions in Colombia, Mexico, and the United Arab Emirates, as Worldpay continues to grow its domestic acquiring capabilities globally. Its platform offers a single point of integration for businesses operating across more than 170 countries. Gabriel de Montessus “The payments landscape is rapidly evolving in Thailand as we’re seeing a significant shift from cash use to digital wallets and account-to-account (A2A). It’s increasingly important for merchants operating in the market to deliver the right shopper experience with the fastest most secure payments possible. Our in-market experts help merchants optimize their offerings, navigate complexities, and ensure they accept the right mix of payment types enabling them to unlock growth opportunities.” said Gabriel de Montessus, President of Global Enterprise at Worldpay.     Featured image: Edited by Fintech News Singapore, based on image by EyeEm via Freepik   The post Worldpay Expands APAC Footprint with Entry into Thailand appeared first on Fintech Singapore.

Read More

Alibaba Cloud Invests Over US$60 Million to Strengthen Global AI, Cloud Partnerships

Alibaba Cloud has announced plans to invest more than US$60 million this fiscal year to support its global partner ecosystem and encourage the adoption of AI and cloud technologies. The company said the investment will go toward marketing support, rebate programs, and training initiatives for its partners. The move is part of a broader effort to expand its international footprint and strengthen ties with technology providers through new and extended partnerships. Several companies have joined or expanded collaborations with Alibaba Cloud, including Dify, Squirro, PingCAP, Atos, Crayon, DXC Technology, Bespin Global Indonesia, and Electrum Cloud. These partnerships span areas such as AI development, enterprise cloud services, data infrastructure, and cloud distribution in Asia and beyond. Dify has launched its AI application development platform on Alibaba Cloud’s marketplace, while Squirro is offering its generative AI tools for financial services, manufacturing, and retail clients in the region. PingCAP’s distributed database TiDB is now available on the platform, aimed at supporting AI-ready applications with real-time analytics. Alibaba Cloud also expanded its reseller partnerships. Atos will now offer Alibaba Cloud’s full product suite to enterprise clients internationally, while Crayon has extended its regional coverage to include Singapore and the Philippines. DXC Technology is introducing its IT and AI solutions to Alibaba Cloud’s customers in Asian markets, and Bespin Global Indonesia has joined as a managed service provider. Electrum Cloud, part of the CloudMile Group, is collaborating with Alibaba Cloud on AI adoption and developer training in Indonesia. Alibaba Cloud currently works with around 12,000 partners globally, including firms such as Salesforce, Fortinet, IBM, and Neo4j. Raymond Ma Raymond Ma, Vice President of Global Partners & Alliances, Alibaba Cloud Intelligence, said, “By equipping our partners with advanced resources, dedicated incentives, and direct access to our cutting-edge AI technologies like our Qwen large language models, we are not just building a channel; Together, we are fostering a synergistic ecosystem that will accelerate digital transformation and unlock new possibilities for businesses globally in the AI era.”     The post Alibaba Cloud Invests Over US$60 Million to Strengthen Global AI, Cloud Partnerships appeared first on Fintech Singapore.

Read More

Cambodians Can Make QR Payments in Japan Using Bakong, Local Banking Apps

Cambodians can now make payments in Japan by scanning JPQR codes with local apps such as Bakong or supported mobile banking platforms. This follows the official launch of a cross-border QR payment link between the two countries. The launch was announced at a ceremony in Osaka on 4 July 2025, attended by H.E. Dr. Chea Serey, Governor of the National Bank of Cambodia, and Ezawa Masana, Deputy Director General from Japan’s Ministry of Economy, Trade and Industry. This marks the initial phase of the cross-border initiative, enabling QR payment interoperability between Cambodia’s KHQR and Japan’s JPQR systems. The effort is part of a broader collaboration between the National Bank of Cambodia and the Payments Japan Association, which signed a memorandum of understanding in April 2025 to implement the system. The Payments Japan Association was designated as the project operator and is overseeing the rollout. The initiative builds on an earlier cooperation agreement signed in December 2023 focused on unified QR code-based payments. Dr. Chea Serey H.E. Dr. Chea Serey, Governor of the National Bank of Cambodia, said, “This initiative underscores Cambodia’s advancement in establishing a digital infrastructure for cross-border transactions, fostering collaboration and mutual growth. It is more than a technical breakthrough; it serves as a bridge between our cultures, our economies, and our people. It reflects our dedication to harness technology for sustainable and inclusive growth—and to ensure that Cambodians are fully equipped to participate in the global digital economy.” Fukuda Yoshio, General Director of Payments Japan Association, added, “We hereby express our profound appreciation to all stakeholders who supported the realization of this initiative, with particular gratitude to the governments of both Cambodia and Japan. Today’s announcement marks a pivotal step in this endeavor. We anticipate that this linkage will contribute to the increase of cross-border exchanges beyond payment, creating connections and networks that would enable continued growth and prosperity for Cambodia and Japan.”     Featured image: Edited by Fintech News Singapore, based on image by National Bank of Cambodia’s LinkedIn post  The post Cambodians Can Make QR Payments in Japan Using Bakong, Local Banking Apps appeared first on Fintech Singapore.

Read More

UK and Singapore Explore Joint Developments in AI, Tokenisation and ESG

The United Kingdom and Singapore held the 10th UK-Singapore Financial Dialogue in London, reaffirming their commitment to cooperation across digital finance, sustainable finance, capital markets, and international regulation. Advancing AI, Tokenisation and Cross-Border Digital Finance Officials reviewed progress in digital finance, particularly under Project Guardian, and agreed to deepen collaboration on asset tokenisation by working with the Investment Association and the Investment Management Association of Singapore to better understand investor perspectives and support adoption in both markets. The UK shared its experience with joining the Global Layer One initiative, while Singapore provided an update on the project’s progress and areas of focus. Discussions on artificial intelligence covered emerging use cases, regulatory approaches, and cross-border challenges. MAS and the FCA committed to joint efforts to promote AI adoption, beginning with the FCA-MAS AI Innovation Showcase in London on 3 July, which kicks off a broader programme to highlight innovative solutions from both countries. Strengthening Sustainable Finance and ESG Reporting Frameworks On sustainable finance, Singapore shared updates on the adoption of the Singapore-Asia Taxonomy and its alignment with international efforts, while the UK outlined its work under the Transition Finance Council and the Prudential Regulation Authority’s proposed climate risk guidance. Both sides discussed the development of high-integrity voluntary carbon markets, including Singapore’s transition credit initiatives and the UK’s consultation on a governance framework for carbon credits. They also addressed sustainability disclosures, with both countries supporting a phased and proportionate approach to adopting International Sustainability Standards Board frameworks. The UK provided updates on its Sustainability Disclosure Requirements, investor labelling regime, and efforts to develop a future regulatory framework for ESG rating providers. Capital Market Reforms and Global Regulatory Priorities In capital markets, the UK outlined recent pension reforms and its plan to adopt a T+1 settlement cycle by 2027. MAS shared updates from its Equities Market Review, including measures to deepen liquidity, attract quality listings, and strengthen the broader ecosystem. Both countries exchanged views on global regulatory priorities, including developments at the Financial Stability Board. The UK reaffirmed its commitment to implementing the Basel III standards, while Singapore shared lessons from its own implementation, which took effect in January 2025. Both sides highlighted the importance of strong prudential standards and supported the implementation of the FSB’s leverage recommendations to address risks in non-bank financial intermediation. The session concluded with both countries agreeing to continue engagement through a series of roadmap discussions ahead of the next Dialogue in Singapore in 2026. An industry-led UK-Singapore business roundtable was held the following day, bringing together participants from both markets for a discussion that included reflections on the Dialogue and a session on AI. Representatives from HM Treasury, MAS, the Bank of England, the FCA, and both high commissions took part in the Dialogue, which was preceded by a bilateral meeting between HM Treasury’s Director General (Financial Services), Gwyneth Nurse, and MAS Deputy Managing Director (Markets and Development), Leong Sing Chiong.     Featured image: Edited by Fintech News Singapore, based on images by leoaltman and leoaltman via Freepik     The post UK and Singapore Explore Joint Developments in AI, Tokenisation and ESG appeared first on Fintech Singapore.

Read More

XL Ventures Gets MAS Nod to Operate as Venture Capital Fund Manager

Singapore-based XL Ventures has received in-principle approval from the Monetary Authority of Singapore for a Capital Markets Services (CMS) license to operate as a Venture Capital Fund Manager. The firm, founded by Amit Sharma and Saroj Mishra, focuses on early-stage startups that apply data, sensors and artificial intelligence to improve energy use in commercial buildings and power infrastructure. Its investment approach centres on technologies that are ready for implementation and have the potential to reduce emissions in resource-intensive sectors. The founders said that while long-term breakthroughs remain important, existing tools such as software and AI can already help make large systems more efficient. They added that many of these systems still operate independently and with conservative safety buffers, creating room for optimisation. XL Ventures intends to support startups in setting up operations and expanding in Asia, and is looking to work with established companies in the region to support market entry and distribution. The firm is currently working with several UK-based startups seeking to enter Asian markets, where Sharma and Mishra say there is increasing alignment between technology adoption and sustainability goals. Sharma previously held a global business development role at Tech Mahindra. Mishra is the co-founder of payments company Tazapay and Singapore-based advisory firm Bayfront Capital Advisors.     Featured image: Edited by Fintech News Singapore, based on image by mkmult via Freepik   The post XL Ventures Gets MAS Nod to Operate as Venture Capital Fund Manager appeared first on Fintech Singapore.

Read More

Bitstamp by Robinhood Now Licensed to Offer Crypto Services in Singapore

Bitstamp by Robinhood has received its Major Payment Institution license from the Monetary Authority of Singapore (MAS). The MAS license authorises Bitstamp to offer regulated digital payment token services in Singapore. The firm previously shared plans to launch its offerings in the city-state by late 2025. Robinhood completed the acquisition of Luxembourg-based Bitstamp for US$200 million in June 2025, aiming to strengthen its institutional crypto business and expand into Singapore. Founded in 2011, Bitstamp holds regulatory approvals under MiCA in the European Union, as well as licences in the United States and United Kingdom. The platform is designed for institutional-grade use, offering fast fiat on- and off-ramps, access to global liquidity, low-latency APIs, secure custody, and a matching engine powered by Nasdaq technology. It also holds ISO/IEC 27001 and SOC 2 Type 2 certifications. Bitstamp’s Asia-Pacific operations will be based in Singapore, with a local team focused on market development, compliance, and regional partnerships.     Featured image: Edited by Fintech News Singapore, based on image by user1874445 via Freepik The post Bitstamp by Robinhood Now Licensed to Offer Crypto Services in Singapore appeared first on Fintech Singapore.

Read More

MAS Fines UOB, Credit Suisse, UBS and Six Others S$27.45 Million for AML Breaches

The Monetary Authority of Singapore (MAS) has imposed a total of S$27.45 million in penalties on nine financial institutions for breaches related to anti-money laundering (AML) and countering the financing of terrorism (CFT) requirements. The action follows MAS’ supervisory reviews into institutions with ties to persons of interest in the major money laundering case uncovered in August 2023. The financial institutions penalised are Credit Suisse Singapore Branch, United Overseas Bank (UOB), UBS AG Singapore Branch, Citibank Singapore, Bank Julius Baer, LGT Bank, UOB Kay Hian, Blue Ocean Invest, and Trident Trust Company. These reviews, carried out from early 2023 to early 2025, found that while most of the institutions had AML/CFT policies in place, the breaches stemmed from poor or inconsistent implementation. Lapses in Risk Assessment and Transaction Monitoring MAS identified several key deficiencies across the institutions. Five of them, including Bank Julius Baer, Blue Ocean Invest, Citi, Credit Suisse, and UOB Kay Hian, failed to implement adequate processes for assessing the money laundering risks posed by certain customers, which led to misclassification and insufficient safeguards. All nine institutions were also found to have fallen short in verifying the source of wealth for higher-risk clients, with some failing to investigate discrepancies or corroborate key information. Eight institutions did not adequately review suspicious transactions flagged by their own systems, including those that were unusually large or inconsistent with customer profiles. Two institutions also failed to take timely risk mitigation measures after filing Suspicious Transaction Reports, such as enhanced monitoring or reviewing risk classifications. Credit Suisse faced additional penalties for earlier breaches involving accounts maintained for certain US customers between November 2017 and October 2023. MAS said all affected institutions have begun remediation efforts and that it will continue to monitor their progress. The regulator has also published updated supervisory expectations and urged financial institutions to benchmark their practices accordingly to reduce money laundering risks. In addition to financial penalties, MAS issued prohibition orders and reprimands against several individuals, including senior executives at Blue Ocean Invest, Trident Trust, and UOB, for failures in oversight and due diligence. Ho Hern Shin MAS Deputy Managing Director Ho Hern Shin said, “Like other major international financial centres, Singapore is exposed to money laundering risks. The vigilance of our financial institutions and their employees is critical in mitigating such risks. MAS will work closely with financial institutions to promote more consistent implementation of AML/CFT measures. Where there are serious failings by FIs and their employees, MAS will not hesitate to take firm action.”     Featured image: Edited by Fintech News Singapore, based on image by jadethaicatwalk via Freepik The post MAS Fines UOB, Credit Suisse, UBS and Six Others S$27.45 Million for AML Breaches appeared first on Fintech Singapore.

Read More

Paxos Launches USDG Stablecoin in the EU Under MiCA Compliance

Paxos has launched its stablecoin, Global Dollar (USDG), in the European Union, with the rollout beginning on 1 July. Regulated under the EU’s Markets in Crypto-Assets (MiCA) framework and overseen by both the Finnish Financial Supervisory Authority (FIN-FSA) and the Monetary Authority of Singapore (MAS), USDG is now accessible to over 450 million consumers across 30 countries. The stablecoin is available through platforms including Kraken, Gate, Coinmetro, SwissBorg, Zodia Custody, Orbital, Hercle, CoinsPaid, Bitwyre, Bitnet and HiFi. It is supported on Ethereum, Solana and Ink blockchains. USDG underpins the Global Dollar Network (GDN), an open ecosystem backed by companies such as Robinhood, Anchorage Digital, Worldpay, Mastercard and Fiserv. It aims to accelerate adoption of stablecoins in real-world financial use cases. Founding members include Paxos, Kraken, Robinhood, Bullish, Galaxy Digital, Nuvei and Anchorage Digital. The token was first issued in November 2024 by Paxos Digital Singapore Pte. Ltd. and has remained substantially compliant with Singapore’s upcoming stablecoin framework. With its entry into the European market, Paxos Issuance Europe will now hold a portion of USDG reserves with European banking partners to meet MiCA requirements. The company said it continues to work closely with MAS on a transition plan to ensure ongoing compliance. USDG will remain redeemable at par for all holders, regardless of where it is redeemed. Walter Hessert “USDG is a fully regulated global USD-stablecoin that is compliant with MiCA and now available in the EU, a testament to our commitment to offering global digital assets that are supervised by prudential regulators and also meet the highest standards of consumer protection. We’re excited to partner with some of the leading players in Europe to bring this leading standard of compliance to more than 450 million consumers in the European Union.” said Walter Hessert, Head of Strategy at Paxos, the issuer of USDG. Mark Greenberg “As stablecoins become core infrastructure for global finance, USDG stands out for its usability and growing ecosystem. Our focus is always on giving clients better tools to navigate the crypto economy, and supporting USDG’s expansion into Europe helps us connect more clients to the digital dollar economy.” said Mark Greenberg, Global Head of Consumer at Kraken.     Featured image: Edited by Fintech News Singapore, based on image by kat_ka via Freepik     The post Paxos Launches USDG Stablecoin in the EU Under MiCA Compliance appeared first on Fintech Singapore.

Read More

Beyond KYC: How Technology is Transforming the Fraud Prevention Game

Digital wallets and cryptocurrencies are two of the most targeted channels for fraud this year, according to SEON’s 2025 Digital Fraud Outlook, making the stakes higher than ever. This surge brings with it opportunity and the heightened risk of fraud. As more transactions move online, fraudsters are leveraging increasingly advanced tactics to exploit vulnerabilities in onboarding and transaction processes. Traditional fraud prevention methods are struggling to keep up with the sheer scale and speed of today’s changing threat landscape. Synthetic identity fraud now ranks among the top five threats keeping fraud teams up at night, particularly in mobile-first, high-growth markets like Southeast Asia. Fraud tactics are no longer opportunistic; they are highly coordinated, cross-border and data-driven. Organisations today must protect both their platforms and their customers without sacrificing the seamless experiences that have become their hallmark. In fact, 62% of high-performing fraud teams now list real-transaction monitoring as their top investment priority, highlighting an industry-wide pivot from reactive to proactive security strategies. The Limits of Traditional KYC Source: sumitbiswas35244 via Freepik Know Your Customer (KYC) protocols have long served as the first line of defense. Built around documentation verification and static data checks, these processes are essential for regulatory compliance. However, in high-speed onboarding flows, KYC often becomes a bottleneck for real users and a sieve for bad actors. Traditional KYC checks are increasingly falling short in the face of modern fraud. Criminals have become adept at forging documents, acquiring stolen credentials and creating synthetic identities that can easily pass basic KYC checks. The reactive approach to fraud prevention means that many companies are only able to detect fraud after the onboarding process is complete, when the damage may already be done. Worse, legitimate customers may face unnecessary friction, leading to annoyance and abandoned applications. The result is a costly balancing act: companies are paying to process fraudsters who ultimately fail KYC, while genuine users are left waiting in the wings, frustrated. Digital Footprint Analysis: A Proactive Approach Source: Crazy Dark Quuen via Freepik A new approach is emerging, one that goes beyond KYC by harnessing the power of digital footprint analysis. This approach analyses the digital trails users leave behind, such as email and phone number histories, social media presence and public records. By evaluating the authenticity and richness of these digital signals, organisations can build a more nuanced risk profile for each user before onboarding even begins. For example, a user with a long-standing email address linked to multiple online services and social profiles is far less likely to be a fraudster than one with a recently created, untraceable account. Digital footprint analysis enables modern companies to spot these differences instantly, flagging suspicious users early and allowing genuine customers to move through the process with minimal friction. Such a proactive stance helps to prevent fraud before it occurs, rather than responding after the fact. It’s no surprise then that 85% of companies globally are increasing their fraud prevention budgets this year, reflecting widespread recognition of fraud’s rising cost and complexity. Device Intelligence to Strengthen Defenses Source: Freepik Alongside digital footprint analysis, device intelligence offers a powerful, complementary layer of protection. By analysing the characteristics of the devices accessing a platform — such as hardware details, software versions and network attributes — companies can detect anomalies that may indicate fraudulent intent. For instance, the use of emulators, device spoofing or unusual browser configurations can signal attempts to bypass security measures. Behavioral biometrics further enhances this approach. By monitoring how users interact with forms, their typing patterns and navigation behaviors, organisations can identify bots, automation and other non-human activities. These insights provide a dynamic, real-time view of user risk, making it possible to adapt defenses on the fly without disrupting legitimate transactions. Proof in Practice: What Real-World Adoption Looks Like Source: Who is Danny via Freepik Adopting digital footprint analysis and device intelligence already yields tangible regional results. Remittance companies have leveraged these technologies to enhance anti-money laundering (AML) controls, identifying high-risk users at the earliest stages and reducing both fraud rates and compliance costs. Payment platforms, facing intense competition, have used these tools to maintain robust security while delivering the fast, frictionless experiences that customers demand. Platforms like SEON are helping fintechs in the region operationalise these advanced capabilities — combining real-time digital footprint analysis, device intelligence and behavioral biometrics in a single platform that integrates quickly and scales with growth. This empowers teams to detect risk earlier in the customer journey, reduce false positives and automate decisions with transparency and control. These innovations are not just about stopping fraud; instead, they are about enabling growth. By reducing false positives and manual reviews, companies are free to allocate more resources to customer service and product development. The result is a more secure, efficient and customer-centric ecosystem, better equipped to handle the challenges of rapid digital expansion. Toward a Smarter, Safer Future The evolution of fraud tactics demands a corresponding evolution in defense. Moving beyond static KYC checks, fintechs and payment services alike are embracing intelligent, real-time risk assessment powered by digital footprinting and device intelligence. As the industry grows, the imperative is clear: companies today must stay one step ahead of fraudsters by leveraging the latest digital intelligence. The next wave of success will belong to those who move boldly beyond KYC, creating an ecosystem where innovation and security go hand in hand. Those that do will not only reduce fraud but also position themselves for sustainable growth in a region where digital acceleration shows no signs of slowing. The post Beyond KYC: How Technology is Transforming the Fraud Prevention Game appeared first on Fintech Singapore.

Read More

Showing 61 to 80 of 377 entries

You might be interested in the following

Keyword News · Community News · Twitter News

DDH honours the copyright of news publishers and, with respect for the intellectual property of the editorial offices, displays only a small part of the news or the published article. The information here serves the purpose of providing a quick and targeted overview of current trends and developments. If you are interested in individual topics, please click on a news item. We will then forward you to the publishing house and the corresponding article.
· Actio recta non erit, nisi recta fuerit voluntas ·