Asia

February 24, 2024 @ 2:10 pm By Michael Wong  |  

Lending Fintech companies accounted for 30% of all Fintech acquisitions in India in 2023, highlighting a shift in market dynamics amid growing regulatory pressures, a report from GrowthPal revealed. This surge in acquisitions within the lending sector marks a departure from previous years, where the… Read More

February 24, 2024 @ 10:33 am By Omar Faridi  |  

In line with its effort to enhance financial security for Malaysian families, PolicyStreet partners with neobanking service provider Vircle to introduce Vircle Club Protect—an exclusive embedded coverage “for children available to all Vircle VISA prepaid card subscribers.” Vircle, known for its parent-friendly e-money solutions, “empowers… Read More

February 24, 2024 @ 10:29 am By Michael Wong  |  

China’s venture capital (VC) market experienced a noticeable decline in January, with a total of 251 VC funding deals amounting to $2.6 billion, according to the latest analysis by GlobalData, a premier data and analytics firm. This represents an 8.4% decrease in deal volume and… Read More

February 22, 2024 @ 6:57 pm By Omar Faridi  |  

Abu Dhabi Islamic Bank has announced the launch of a new payment hub that allows customers to conduct their transfers in a quick and efficient manner. ADIB has worked with the real-time payment solutions company, ProgressSoft, to facilitate the integration of Cross-Border Services and accelerate… Read More

February 22, 2024 @ 6:53 pm By Omar Faridi  |  

PhonePe announced the consumer launch of its Indus Appstore, at Bharat Mandapam in New Delhi. Indus Appstore is PhonePe’s attempt at creating “a more competitive and localized mobile app store economy for India, which is already the largest mobile apps download market globally.” The session… Read More

February 22, 2024 @ 2:11 am By Omar Faridi  |  

A new report found that over half of finance-savvy Singaporeans own crypto, with staking emerging as the top use case, presenting an opportunity for regulated platforms to enable compliant participation in this growing trend through features emphasizing security, consumer protections and compliance. Crypto creates economic… Read More

February 21, 2024 @ 10:02 pm By Omar Faridi  |  

In the “bustling” landscape of Pakistan, Elphinstone claims that it stands as a beacon of financial empowerment, offering “a gateway for the country’s burgeoning middle class to unlock their financial potential.” Co-founded by Farooq Tirmizi and Uzair Mahmud in 2020, Elphinstone addresses a critical pain… Read More

February 20, 2024 @ 9:39 pm By Omar Faridi  |  

Stripe, a financial infrastructure platform for businesses, announced that it has been selected by Tokyu to power the multinational conglomerate’s new flat-rate subscription accommodation service. Tokyu oversees more than 200 businesses “across Japan spanning transportation, real estate, and hospitality.” By partnering with Stripe, it will… Read More

February 20, 2024 @ 9:38 pm By Omar Faridi  |  

Tonik Digital Bank, the Philippines’ first digital-only neobank, revamped the Big Loan, a multipurpose loan catering to a wider range of Filipinos’ financial needs. First launched in 2023, the Big Loan reportedly “offers borrowers up to P5 million with flexible, tailored repayment options, competitive interest… Read More

February 20, 2024 @ 9:36 pm By Omar Faridi  |  

Maybank introduced the myimpact SME Hub, a one-stop integrated and holistic ecosystem for Malaysian Small and Medium Enterprise (SMEs), “offering value-based solutions established on sustainable and ethical principles.” It also serves as a knowledge hub and support system “to facilitate and partner SMEs in their… Read More

February 18, 2024 @ 7:20 pm By Michael Wong  |  

In the latest credit card lending survey released by the Hong Kong Monetary Authority (HKMA), figures for the fourth quarter of 2023 showed a significant uptick in credit card usage among Hong Kong residents. Total card receivables soared by 8.5% to HK$160.1 billion at the… Read More

February 18, 2024 @ 6:23 pm By Michael Wong  |  

Overseas Filipinos (OFs) sent home a record $3.6 billion in personal remittances in December 2023, marking a 3.9 percent increase from the $3.5 billion reported in the same month in 2022, according to data released by the Bangko Sentral ng Pilipinas, the central bank of… Read More

February 18, 2024 @ 1:21 pm By Omar Faridi  |  

The Reserve Bank of India (RBI) claims that it aims to adopt a “hands-off” approach to regulating Fintech companies across a nation that’s home to around 1.5 billion consumers. In addition to taking a step back from aggressively monitoring Fintechs for now, the reserve bank… Read More

February 17, 2024 @ 4:26 am By Michael Wong  |  

Singapore has announced a major investment in artificial intelligence (AI), with more than $1 billion earmarked over the next five years to propel the city-state to new heights in AI development. Deputy Prime Minister Lawrence Wong, who also serves as the Minister for Finance, unveiled… Read More

February 14, 2024 @ 6:14 pm By Omar Faridi  |  

Tonik Digital Bank announces its newest strategic collaboration with Southeast Asian payment gateway, Xendit. The partnership marks a significant milestone for both companies, “as they join forces to deliver secure, convenient, and customer-centric financial solutions.” The partnership with Xendit will further “enrich Tonik’s ecosystem by… Read More

February 14, 2024 @ 6:13 pm By Omar Faridi  |  

Kema, a UAE fintech platform founded by ex-Mumzworld.com co-founder Michael Ghandour, says it has raised a $2 million pre-seed round led by Speedinvest with participation from the Dubai Foundation District Fund (DFDF). Kema claims that it transforms “how businesses sell to one another (B2B) by… Read More

February 13, 2024 @ 5:23 pm By Omar Faridi  |  

COCA, the crypto wallet app, has announced the initial rollout of its Virtual Cards, following the success of its Early Access Program which has attracted “thousands” of users across Europe. This strategic decision highlights COCA’s dedication “to offering smooth, secure, and user-friendly financial services technology… Read More

February 12, 2024 @ 6:08 pm By Omar Faridi  |  

India is reportedly moving forward with the next few stages of its planned digital rupee pilot. This would add programmability and offline payment capability, according to a recent update. Like most major economies across the globe, India has been testing a retail CBDC or central… Read More

February 11, 2024 @ 3:33 pm By Omar Faridi  |  

Verimatrix (Euronext Paris: VMX), the firm powering the modern connected world with people-centered security, announced that HBL Microfinance Bank Ltd is among the latest financial institutions in the South Asia region “to deploy the Verimatrix Extended Threat Defense (XTD) app shielding service to protect FirstPay, the… Read More

February 11, 2024 @ 3:25 pm By Omar Faridi  |  

XTransfer, the B2B cross-border trade payment platform, announces a key milestone in its partnership with Deutsche Bank. Deutsche Bank has executed XTransfer’s first onshore Thai Baht (THB) trade in Thailand, “leveraging the latest version of the Bank of Thailand‘s Non-Resident Qualified Company (NRQC) rules.” Under… Read More