Asia

July 16, 2023 @ 7:32 pm By Omar Faridi  |  

Sustainability is a fundamental aspect of Vision 2030, and Saudi Arabia is committed to achieving its net-zero target by 2060; however, “the adoption of sustainability considerations remains its initial stages in Saudi Arabia.” As the concept of Environmental, Social, and Governance (ESG) gains momentum in… Read More

July 15, 2023 @ 6:33 am By Omar Faridi  |  

Mastercard (NYSE: MA) and Nirvana Travel and Tourism – which claims to be one of the UAE’s leading travel and tourism management companies – have joined forces in a collaboration aimed at providing a payment solution “to customers who book travel services in the UAE,… Read More

July 13, 2023 @ 11:38 pm By Omar Faridi  |  

VARA is issuing a market alert regarding ongoing supervisory controls, and enforcement actions initiated against BitOasis. VARA in Dubai (United Arab Emirates) confirmed that it is issuing this market alert regarding ongoing supervisory controls, and enforcement actions initiated against digital currency trading platform BitOasis. Investors… Read More

July 13, 2023 @ 9:34 pm By Omar Faridi  |  

Emirates NBD, a banking group in the MENA region and Turkey, has launched an enhanced and upgraded version of its WhatsApp banking service, “providing customers with a convenient, secure and reliable digital banking experience like never before.” Emirates NBD WhatsApp banking “allows customers to seamlessly… Read More

July 12, 2023 @ 5:31 am By Omar Faridi  |  

Tarabut Gateway, MENA’s open banking platform, announces the appointment of Tariq Sanad as its new Chief Financial Officer (CFO). Tariq, a Bahraini national, is “one of MENA’s renowned start-up veterans, boasting over 20 years of experience in the finance field.” During this time, he has… Read More

July 11, 2023 @ 9:12 pm By Omar Faridi  |  

AXA Hong Kong and Macau (AXA) announced its collaboration with CoverGo, the global no-code insurance SaaS core platform for health, life, and P&C, “to improve AXA’s general insurance ecosystem in Hong Kong.” With the advanced technology supported by CoverGo, AXA will “use the insurtech’s platform… Read More

July 11, 2023 @ 10:22 am By Omar Faridi  |  

Emirates NBD, a banking group in the MENA region and Turkey, has announced a transformation focused on harnessing the power of generative AI to change Emirates NBD’s operations and enhance productivity across various business functions supported by Microsoft. This collaboration aims “to unlock new opportunities… Read More

July 11, 2023 @ 8:17 am By Omar Faridi  |  

FOO, a B2B fintech solutions provider headquartered in the UAE, has partnered with the Bahrain-based payment services provider and card processor, Infinios Financial Services B.S.C (C). By combining their technology and expertise, the two companies “will deliver an out-of-the-box Digital First Card Issuance Platform.” The… Read More

July 10, 2023 @ 10:25 pm By Omar Faridi  |  

The Reserve Bank of India (RBI) is reportedly working on a new regulatory framework that should be more “developmental” and conducive for financial technology or Fintech firms. This, according to a deputy governor of the reserve bank (as first reported by Reuters this past Friday)…. Read More

July 10, 2023 @ 7:01 pm By Omar Faridi  |  

PhonePe announced the launch of its Point-of-sale (POS) device that enables merchants to accept payments via Debit Cards, Credit Cards and UPI, providing them with a simple and seamless settlement experience. The device comes preloaded “with the PhonePe POS App and supports transactions through tap/swipe/dip and… Read More

July 10, 2023 @ 6:59 pm By Omar Faridi  |  

Maybank entered into a strategic partnership with Cambridge International Financial Advisory (IFA) in order “to establish the collaboration and to explore new opportunities in the field of Islamic Finance.” The ceremony took place at Menara Maybank, Kuala Lumpur “with over 150 attendees consisting of industry… Read More

July 9, 2023 @ 1:02 pm By Omar Faridi  |  

The Saudi Central Bank (SAMA) announces the issuance of the Implementing Regulations for the Law of Payments and Payment Services “to support the objective of enhancing soundness and efficiency of the payment systems infrastructure in Saudi Arabia.” The relevant regulatory and supervisory frameworks enable SAMA… Read More

July 8, 2023 @ 7:24 pm By Omar Faridi  |  

China’s regulatory authorities revealed on Friday (July 7, 2023) a 7.12 billion yuan (approximately $984 million) fine for Ant Group, a decision that effectively ends a lengthy regulatory revamp of the Fintech firm while marking an important step to concluding a massive crackdown on the… Read More

July 8, 2023 @ 3:23 pm By Omar Faridi  |  

Apple has reportedly removed several malicous lending apps targeting unsuspecting users in India. The apps had allegedly used unethical methods in order to collect repayments, like threatening to send deepfake nudes to the borrowers’ personal contacts. In the last week, Apple (NASDAQ:AAPL) has removed various… Read More

July 8, 2023 @ 11:33 am By Omar Faridi  |  

Printemps, the French luxury department store, announced the integration of Alipay+, a suite of global cross-border digital payment and marketing solutions, in order “to offer Asian consumers a convenient and seamless checkout experience with their home e-wallets.” Through a simple integration, Kakao Pay and AlipayHK… Read More

July 8, 2023 @ 9:02 am By Omar Faridi  |  

Singlife recently signed a Memorandum of Understanding with Microsoft (NASDAQ: MSFT) to support high-growth insurance startups to adopt generative artificial intelligence (AI). Singlife is the first financial services partner “to collaborate with Microsoft for the Startups Programme in ASEAN for budding insurtech startups to scale… Read More

July 7, 2023 @ 11:37 am By Omar Faridi  |  

TOKO, headquartered in Dubai with offices in Hong Kong, is a digital asset creation platform, created in collaboration with DLA Piper and operating within an unparalleled regulatory framework, signs joint business relationship with PwC Hong Kong in order “to offer Blockchain solutions to PwC’s global… Read More

July 6, 2023 @ 10:07 pm By Omar Faridi  |  

DBS (SGX:D05) announced it is one of the first foreign banks in China to launch an e-CNY merchant collection solution and complete an e-CNY transaction for a client. The solution empowers corporate clients of DBS China “to collect payments from their customers in e-CNY, China’s… Read More

July 6, 2023 @ 10:04 pm By Omar Faridi  |  

The Bank for International Settlements (BIS) recently announced that Maha El Dimachki will join the BIS Innovation Hub (BISIH) team as “the new head of the Singapore Centre, starting on 1 October 2023.” Ms El Dimachki is currently Head of Early and High Growth Oversight… Read More

July 6, 2023 @ 10:02 pm By Omar Faridi  |  

Researchers are “cautiously optimistic” about where generative artificial intelligence (GenAI) will lead humanity, but they say that we “must develop more guardrails.” This is according to Pascale Fung, Chair Professor, Department of Electronic and Computer Engineering, Hong Kong SAR, China. She was speaking at the… Read More