Asia

December 9, 2020 @ 12:32 pm By JD Alois  |  

The UK Department for International Trade (DIT) has launched a new global partnerships program called “Leading Edge.” The program is designed to help International Financial Institutions (IFIs) in priority markets access the best British Fintech solutions, starting with Singapore, Australia, and the United States. The… Read More

December 8, 2020 @ 10:46 pm By Omar Faridi  |  

Singapore has introduced a data exchange platform that allows residents to consolidate their financial data which may be stored across several different databases belonging to various government agencies and banks. The data exchange solution has been developed by local government agencies, including the Monetary Authority… Read More

December 8, 2020 @ 10:39 pm By Omar Faridi  |  

Snowdrop Solutions Ltd. has teamed up with digital payments giant Visa in order to offer innovative location-enriched services to banking institutions and other financial services providers based in the Asia Pacific (APAC) region. Through the partnership, both companies aim to allow millions of consumers to… Read More

December 7, 2020 @ 11:31 pm By Omar Faridi  |  

Raj Khosla, the founder and MD at MyMoneyMantra (MMM), which claims to be India’s largest “phygital” (physical-digital) marketplace for loans and credit cards, says that his company has consistently earned substantial revenue since its inception in1989. Khosla began his loan distribution business over 30 years… Read More

December 7, 2020 @ 9:25 pm By Omar Faridi  |  

United Overseas Bank (UOB) has revealed that its artificial intelligence (AI)-powered anti-money laundering (AML) technology has been quite effective at assisting the Singapore-based bank with analyzing large volumes of transactions to identify suspicious or potentially fraudulent financial activities. The UOB, a multinational banking organization with… Read More

December 7, 2020 @ 8:30 am By Amit Anand  |  

Emerging from the pandemic while other regions are still in the midst of crisis is giving the region an advantage.  The venture market in Southeast Asia has grown exponentially in the last five years but it’s not too late for LPs to dive in. While… Read More

December 7, 2020 @ 7:27 am By Omar Faridi  |  

China is reportedly handing out around $3 million of digital yuan as JD.com notably becomes the first online platform to begin accepting the virtual currency. As first reported by CNBC, Chinese digital commerce company JD.com confirmed that it will become the first major online platform… Read More

December 6, 2020 @ 11:03 pm By Omar Faridi  |  

Indonesia has the 16th largest economy in the world with a GDP of over $1 trillion. It’s also the world’s fourth most populous nation with around 275 million residents, out of which about 85% are below the age of 54. The Southeast Asian country has… Read More

December 6, 2020 @ 9:01 pm By Omar Faridi  |  

Finastra, a financial services software and Cloud-enabled solutions provider, has revealed that Shinhan Bank Vietnam has decided to integrate its trading and risk software with the Fusion Kondor and Fusion Risk solutions. These solutions have been chosen because they’re supposed to offer greater flexibility and… Read More

December 6, 2020 @ 6:59 pm By Omar Faridi  |  

Fintech firm JazzyPay, which is based in the Philippines, has teamed up with digital wallet provider GCash in order to offer cashless payment options to essential service providers in the country. The GCash payments platform has been integrated into JazzyPay’s PCI DSS Level 1 compliant… Read More

December 6, 2020 @ 3:18 pm By Xu Gao  |  

Tianjin Bans Illegal Collection of Facial Recognition Information On December 1st, Tianjin Municipality approved a new regulation which will come into effect on January 1st, 2021. According to the regulation, credit information service provider should obtain the consent of the person before collecting his/her personal… Read More

December 5, 2020 @ 8:38 pm By Omar Faridi  |  

Reuben Lai, Senior Managing Director at Grab Financial Group, has said that he’s really excited and honored to confirm that Grab’s consortium with Singtel has acquired the digital full bank license from the Monetary Authority of Singapore (MAS). As reported recently, the MAS revealed the… Read More

December 5, 2020 @ 5:33 pm By Omar Faridi  |  

Adnan Zaylani Mohamad Zahid, Assistant Governor of the Central Bank of Malaysia (Bank Negara Malaysia), recently commented on developments related to Islamic finance, digital payments, and Fintech platforms and services. Zahid, whose comments came during the 3rd Islamic Fintech Dialogue (IFD2020) on December 1, 2020,… Read More

December 5, 2020 @ 3:00 pm By Omar Faridi  |  

Fintech company MobiKwik has acquired Rs 52 crore (appr. $7 million) in capital through an investment round led by Hindustan Media Ventures, the investment division of HT Group. The round included contributions from Infosys Co-Founder Kris Gopalakrishnan’s family office, Pratithi. The funds raised will be… Read More

December 5, 2020 @ 1:15 pm By Omar Faridi  |  

India-based digital payments firm PhonePe has branched out from its parent company, the Walmart-owned Flipkart Group. PhonePe is now valued at an estimated $5.5 billion, the company confirmed on December 3, 2020. According to the announcement, Flipkart will maintain its own majority stake of 87%… Read More

December 4, 2020 @ 9:24 am By JD Alois  |  

Monetary Authority of Singapore (MAS) announced on June 28, 2019, that it would issue up to two digital full bank (DFB) licenses and three digital wholesale bank (DWB) licenses. Last June, MAS announced that 14 out of 21 applications to become digital banks have met… Read More

December 3, 2020 @ 7:50 am By Samantha Hurst  |  

  Plug and Play Japan KK announced on Wednesday it has selected 103 startups in seven existing verticals (IoT, Fintech, Insurtech, Mobility, Brand & Retail, Hardtech & Health, and newly launched vertical, Smart Cities) with 42 large domestic corporate partner companies for the Winter/Spring 2021… Read More

December 2, 2020 @ 10:11 pm By Omar Faridi  |  

The Middle East focused Fintech Tour 20 officially began on November 29, 2020. The event will provide key insights on the evolving financial technology sector in Saudi Arabia and aims to bring together local and international industry professionals. Ahmed Alkholifey, Governor of the Saudi Central… Read More

December 2, 2020 @ 9:33 pm By Omar Faridi  |  

Governments across the globe are always trying to create a balance between enabling or supporting tech advancements and innovation while preventing large companies such as Google (NASDAQ:GOOG) and Facebook (NASDAQ:FB) from unfairly using their dominant position to eliminate smaller competitors. India is reportedly planning to… Read More

December 1, 2020 @ 10:40 pm By Omar Faridi  |  

China is reportedly planning to introduce “special” and “innovative” regulatory guidelines for  Fintech giants like billionaire Jack Ma’s Ant Group Co., which is a subsidiary of the Alibaba Group Holding (NYSE:BABA). Regulators in China aim to create new policies so they can eliminate monopolistic practices… Read More