Tagged: asean

March 13, 2023 @ 10:10 pm By Omar Faridi  |  

Homegrown financial services company Singlife has appointed Citi and BlackRock Aladdin to “provide it with a comprehensive technology platform to unify and transform its asset management capabilities across its front, middle and back-office offering.” Citi and BlackRock Aladdin previously “entered into an alliance to leverage… Read More

February 16, 2023 @ 1:37 am By Omar Faridi  |  

As part of its efforts to enhance financial literacy among the younger generation in ASEAN, Maybank’s Cashville Kidz financial literacy program has reached out to 37,020 students and 945 educators in over 113 schools in 2022. In a year that was recovering from the pandemic,… Read More

December 24, 2022 @ 11:06 am By Omar Faridi  |  

The World Economic Forum has launched the ASEAN Digital Generation Report 2022, the sixth edition of the report since 2017. This year’s report “examines digital financial services, gaps in access and where businesses, governments, and civil society organizations need to improve financial inclusion.” The report… Read More

October 20, 2022 @ 3:27 pm By Omar Faridi  |  

UOB (SGX: U11) recently announced the launch of the UOB Sustainability Compass at the Gateway to ASEAN Conference. The Sustainability Compass is a tool that “provides a step-by-step guide for small and medium-sized enterprises (SMEs) to overcome their inertia and kickstart their sustainability journeys.” As… Read More

November 28, 2021 @ 6:52 pm By Omar Faridi  |  

The time is “ripe” for the Philippines to take its place on the global stage as an important player in the technology space, according to a new report. The Philippines’ local technology market is still developing: While a digital economic gap currently exists, there’s strong… Read More

November 14, 2021 @ 8:09 pm By Omar Faridi  |  

Bank Negara Malaysia (BNM) and Payments Network Malaysia (PayNet) will reportedly be taking part in Project Nexus by working cooperatively with various partners on a proof-of-concept (PoC) to enhance the cost and speed of performing international payments. Project Nexus will aim to look into the… Read More

September 8, 2021 @ 7:34 am By Omar Faridi  |  

Jeff App, the Latvian Fintech company offering a data-powered loan brokerage platform for unbanked or financially underserved consumers in Asia, has finalized a $1.5 million seed extension round, which was led by J12 Ventures. Jeff App has now secured a total of $2.5 million. Other… Read More

August 29, 2021 @ 8:16 am By Omar Faridi  |  

Cyberport recently confirmed that the application stage for Phase 2 of the Fintech Proof-of-Concept Subsidy Scheme, commissioned by the Financial Services and the Treasury Bureau (FSTB), had been closed at the end of June 2021. As mentioned in a release, dated August 26, 2021: “Together… Read More

August 16, 2021 @ 6:34 pm By Omar Faridi  |  

HSBC Holdings plc (NYSE: HSBC), a British multinational investment bank and financial services holding company, reveals that it has committed to an agreement to acquire 100% of AXA Insurance issued share capital in Singapore for $575 million. The goal or aim of this transaction is… Read More

August 8, 2021 @ 8:01 pm By Omar Faridi  |  

Digital banking challenger BigPay, which is one of the fastest-growing Fintechs in the ASEAN region, recently revealed that it has acquired $100 million in funding from South Korea’s conglomerate SK Group. As noted by its management: “BigPay [is] on a mission to challenge traditional banking… Read More

August 1, 2021 @ 11:18 am By Omar Faridi  |  

The ASEAN Financial Innovation Network (AFIN) recently confirmed the appointment of H.E Serey Chea, Prof. Olayinka David-West as advisors and Latha Ayyar as an independent director to its board. The ASEAN Financial Innovation Network (AFIN) has been established in order to facilitate innovation and cooperation… Read More

June 17, 2021 @ 12:03 am By JD Alois  |  

The ASEAN Financial Innovation Network (AFIN) has partnered with R3 to build and test central bank digital currencies (CBDCs). CBDCs have emerged as a hot topic of governmental innovation – fueled in part by the rise of stablecoins utilized as digital references of fiat currency…. Read More

May 6, 2021 @ 11:47 pm By Omar Faridi  |  

GHL Systems has teamed up with payments giant Visa (NYSE:V) in order to become the first in the ASEAN region to offer Visa Instalments for customers using the eGHL Payment Gateway platform. Visa Instalments works by turning pre-approved issuer credit lines into installment payment options… Read More

April 27, 2021 @ 1:27 am By Omar Faridi  |  

MyMy revealed on Monday (April 26, 2021) that it has obtained conditional approval for a large scheme E-money license from Bank Negara Malaysia, the nation’s central bank. The Fintech firm is now planning to launch its digital wallet services in the coming year. Until all… Read More

March 29, 2021 @ 11:45 pm By JD Alois  |  

Ripple has agreed to acquire a 40% stake in cross-border payments Fintech Tranglo, according to a public release. Tranglo, based in Malaysia but operates across Asia, reports 1300 partners having completed 20 million transactions at $4 billion in value. Tranglo claims to be one of… Read More

March 3, 2021 @ 6:30 am By Milena Naitoh  |  

The ASEAN economy is expected to become the fourth-largest economy in the world by 2030, growing at a pace of over 5% per year. Small and medium enterprises (SMEs) are the biggest contributors to this regional growth — they account for between 89% and 99%… Read More

February 26, 2021 @ 9:52 pm By Omar Faridi  |  

Bursa Malaysia, the nation’s stock exchange, is reportedly planning to work closely with Fintech firms or other strategic business partners in order to enhance its value proposition and improve its operational efficiency. Bursa Malaysia stated that these efforts should help the exchange grow and take… Read More

February 24, 2021 @ 10:39 pm By Omar Faridi  |  

Tyme, a multinational digital banking group based in Singapore, has reportedly secured $110 million in capital through a Series B funding round. Tyme is focused on bringing foreign investments into South Africa. TymeBank aims to establish the foundation for its business expansion across ASEAN region,… Read More

December 24, 2020 @ 7:55 pm By Omar Faridi  |  

Hong Kong based ZA Tech, a technology venture launched by insurance firm ZhongAn Online and supported by the Softbank Vision Fund, has revealed that it teamed up with the holding company of digital wallet OVO. Through the partnership, both organizations will offer insurance providers in… Read More

December 23, 2020 @ 11:38 pm By Omar Faridi  |  

Brunei’s Fintech sector continues to grow steadily due to the rising demand for digital financial services and its government’s push to encourage its residents to use modern payment methods. Brunei has the second-highest (after Singapore) human development index or HDI (which measures the overall quality… Read More