Tagged: fintech adoption

August 21, 2020 @ 5:50 pm By Omar Faridi  |  

Southeast (SE) Asia is home to an unbanked population of around 290 million, according to a recent report from Fitch Ratings. Fintech solutions can enable more widespread financial inclusion, and could potentially increase the GDP of emerging markets by $3.7 trillion, according to an updated… Read More

August 21, 2020 @ 9:59 am By Omar Faridi  |  

Digital banking or the use of online services and platforms may have been accelerated due to the COVID-19 outbreak, which had led to many countries enforcing nationwide lockdowns. While many countries are now beginning to “re-open” their businesses, the Coronavirus crisis has led to major… Read More

August 20, 2020 @ 11:41 pm By Omar Faridi  |  

Malaysian Fintech firms are regulated according to the requirements provided by Bank Negara Malaysia (BNM), the nation’s central bank. Suhaimi Bin Ali, director of the Financial Development and Innovation Department at BNM, explained (during the introduction of the Fintech Booster program earlier this month): “We… Read More

August 20, 2020 @ 10:45 pm By Omar Faridi  |  

The COVID-19 outbreak and nationwide lockdowns in India have forced many local residents to re-evaluate how they conduct business and manage their finances. An analysis performed by ETMoney reveals that the overall spend by India’s residents between March and June 2020 dropped by around 40%,… Read More

August 20, 2020 @ 10:35 pm By Omar Faridi  |  

More Singapore based companies and businesses are expected to use the latest Fintech platforms and services in the coming year. Firms operating in the Asian country aim to streamline their business by adopting the latest digital technologies, according to a report from CPA Australia, a… Read More

August 20, 2020 @ 4:10 pm By Omar Faridi  |  

Ravi Menon, the Managing Director of the Monetary Authority of Singapore (MAS), recently delivered a speech on “Powering the next stage of Singapore Fintech” at the Singapore Fintech Festival Just five years ago, the country’s leaders had a vision that focused on making Singapore a… Read More

August 19, 2020 @ 9:36 am By Omar Faridi  |  

Bahrain introduced its first Open Banking product for the MENA region during December of last year. The central bank of Bahrain is among the first major institutions in the Middle East to propose and create regulations that require the adoption of Open Banking technologies by… Read More

August 18, 2020 @ 11:37 pm By Omar Faridi  |  

Fintech Saudi, an initiative that aims to transform Saudi Arabia into an innovative Fintech Hub with “a thriving and responsible” financial technology ecosystem, has been supporting the Kingdom’s economy by establishing an ecosystem directory and an online jobs portal dedicated to Fintech professionals. Fintech Saudi… Read More

August 17, 2020 @ 7:37 pm By Omar Faridi  |  

Supply@ME recently committed to a Memorandum of Understanding (MOU) with Khaled Abdulla Almass and his investment firm, iMass LLC, in order to focus on the expansion and ongoing development of Supply@ME into the Middle East region. Supply@ME is a Fintech firm that’s owned by Italy’s… Read More

August 17, 2020 @ 6:08 pm By Omar Faridi  |  

Abu Dhabi based NymCard, a card issuing and processing platform, has reportedly been granted “in-principle” approval from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market. The Fintech firm aims to assist financial service providers including banks, and other financial technology companies… Read More

August 16, 2020 @ 4:33 pm By Omar Faridi  |  

Brazilian Fintech firm SuperSim, a microlending startup based in São Paulo, recently secured R$30 million (appr. $5.6 million) in capital through debt financing, so that it can improve the South American nation’s credit market. Latin American consumers and businesses have expressed concerns about how difficult… Read More

August 14, 2020 @ 5:56 pm By Omar Faridi  |  

Guided by the government’s Fintech focused development plan and innovation strategy, China is reportedly leading the charge when it comes to establishing financial technology businesses in the country. A recent survey of business Fintech usage, performed by CPA Australia, an established accounting firm, reveals that… Read More

August 14, 2020 @ 1:44 pm By Omar Faridi  |  

The United Kingdom and the Bank of Thailand (BoT) have reportedly committed to a Memorandum or Understanding (MoU) on financial services, in order to support inclusive economic growth and development. The UK government and the BoT signed the MoU on August 7, 2020, according to… Read More

August 14, 2020 @ 12:43 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator, recently revealed that it will commit S$250 million (appr. $182 million) in capital over the course of the next three years, in order to support the country’s financial industry. The funds are being… Read More

August 14, 2020 @ 10:41 am By Omar Faridi  |  

  The Qatar Fintech Hub (QFTH), which supports financial technology service providers in Qatar and globally, confirmed recently that it has received applications from companies that are interested in establishing their operations in the Middle East. These companies are looking for a launch-pad or accelerator… Read More

August 12, 2020 @ 10:56 pm By Omar Faridi  |  

Fintech industry participants in Indonesia have noted that the nation’s residents have been slow when it comes to adopting the latest technologies in the finance sector. This may be due to relatively lower levels of financial literacy in the country, according to researchers and analysts…. Read More

August 12, 2020 @ 12:19 am By Omar Faridi  |  

Bank Indonesia (BI), the nation’s central bank, introduced the seventh Indonesia Sharia Economic Festival (ISEF) this past Friday. The event took place virtually or online, which was notably the first of its kind in the country. Established in 2014, ISEF is an international event that… Read More

August 12, 2020 @ 12:14 am By Omar Faridi  |  

Netcore Solutions, a marketing automation and personalization platform, revealed on August 11, 2020 that it has chosen Asian Fintech firm GoBear to power its multi-channel marketing automation and engagement campaigns. GoBear will help Netcore with ensuring customer retention, according to a release. Established in 2014,… Read More

August 10, 2020 @ 11:33 pm By Omar Faridi  |  

Miljan Stamenkovic, the Regional Director at Mambu, a multinational software-as-a-service (SaaS) banking platform, notes in a blog post published on Trade Arabia that during the last few years, many Gulf or Middle East region countries have been increasingly adopting digital platforms and services. Middle Eastern… Read More

August 10, 2020 @ 7:09 pm By Omar Faridi  |  

China and India had the highest Fintech adoption rate (at 87%) out of all emerging markets, as of March 2020, according to a Research and Markets report. The Fintech sector has been expanding during COVID-19 because more consumers and businesses are conducting transactions online. Many… Read More