Tagged: mas

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 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 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

November 30, 2020 @ 10:45 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS), the nation’s reserve bank and financial regulator, has revealed that eligible non-bank financial institutions (NFIs) will be able to gain direct access to the banking system’s retail payments infrastructure starting from February of next year. NFIs that are authorized to… Read More

November 28, 2020 @ 6:41 pm By JD Alois  |  

Switzerland has emerged as a Fintech friendly jurisdiction and home to many blockchain-focused financial services firms. The country  has long been an important banking center and the Swiss government is keen to maintain its status in a world that is going through a digital transformation…. Read More

November 26, 2020 @ 10:18 am By JD Alois  |  

In an interview as part of the Fintech Abu Dhabi Festival taking place this week, Ravi Menon, Managing Director of the Monetary Authority of Singapore (MAS), discussed how Fintech or digital finance has been boosted by the COVID health crisis. Digital Transformation Menon shared that… Read More

November 25, 2020 @ 11:39 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has posted the 20 finalists for the 2020 Global Fintech Hackcelerator, an annual event that saw aspiring firms look to adapt to the challenges of COVID-19. MAS states that the Global Fintech Hackcelerator identifies innovative market-ready solutions to address… Read More

November 23, 2020 @ 10:38 am By JD Alois  |  

The 3rd Singapore-China (Chongqing) Connectivity Initiative (CCI) Financial Summit anticipates greater financial connectivity between the two countries, according to a note issued by the Monetary Authority of Singapore (MAS). At the event opening the Minister for Manpower, Singapore, Josephine Teo was said to highlight that… Read More

November 18, 2020 @ 9:15 pm By Omar Faridi  |  

Sygna Bridge, the “market-ready” solution developed for Virtual Asset Service Providers (VASPs) to fulfill the Financial Action Task Force (FATF) Recommendation 16’s “Travel Rule,” has reportedly become the very first FATF Travel Rule solution to go through an independent assessment by The Association of Cryptocurrency… Read More

November 15, 2020 @ 5:26 pm By Omar Faridi  |  

  The Fintech mergers and acquisitions (M&As) market appears to be rebounding from the COVID-19 pandemic. As reported by Financial Planning, the Wealthtech sector seems to be recovering after the Coronavirus crisis had put many deals on pause. RightSize Solutions, a company offering cybersecurity and… Read More

November 9, 2020 @ 7:52 am By Omar Faridi  |  

The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator, has launched a S$35 million (appr. $18.62 million) Productivity Solutions Grant (PSG) for the country’s financial services industry. The grant will be used to offer assistance to smaller financial institutions. It will… Read More

November 4, 2020 @ 10:16 am By JD Alois  |  

In 2019, the Monetary Authority of Singapore (MAS) launched a consultation on the Payment Services Act (PS Act) that in relation to AML/CFT, and other amendments in respect of digital payment token (DPT) service and certain technical amendments. The consultation address certain proposed amendments to… Read More

November 1, 2020 @ 11:00 pm By Omar Faridi  |  

We recently connected with Tuhina Singh, Founder of Propine, a comprehensive securities services provider for digital securities. Singh previously worked as an options trader and has developed derivatives trading platforms from scratch. Crowdfund Insider previously reported that Propine is the first independent digital asset custodian… Read More

October 30, 2020 @ 3:35 pm By Omar Faridi  |  

  Payments giant Visa recently published a study on Digital Banking and SMEs in Singapore. According to the report, 88% of Singapore’s SMEs are now considering switching over to an all-digital banking platform. These findings of the study have been released at a time when the… Read More

October 17, 2020 @ 12:02 pm By Omar Faridi  |  

Open Banking developments in Singapore could lead to more changes in traditional banking processes than those that involve digital banking and related infrastructure upgrades. Singapore’s addressable loan market for digital banks is valued at around S$220 and S$243 billion, according to estimates from the Fintech… Read More

October 13, 2020 @ 5:28 pm By Omar Faridi  |  

iLex, a Fintech firm that is focused on improving the corporate loan market, has partnered with Refinitiv through its LPC brand, in order to integrate their loan solutions and redistribute LPC loan market data via the iLex platform. As mentioned in a release shared with… Read More

September 30, 2020 @ 8:21 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has told bankrupt Fintech Wirecard (WDI.DE) to halt payment services in Singapore and to return all customer funds by October 14, 2020. MAS states that it has been monitoring Wirecard’s bankruptcy proceedings and the ability of the company to provide… Read More

September 26, 2020 @ 6:01 pm By Omar Faridi  |  

Mark Schwartz, MD at Ernst & Young Capital Advisors LLC, Equity Capital Markets Advisory, has explained how (special purpose acquisition company) SPAC mergers can help companies with accessing better financing deals or options. Schwartz noted that the growth of SPACs gives private business owners an… Read More

September 23, 2020 @ 7:37 am By Omar Faridi  |  

Thomas Gottstein, CEO at Credit Suisse Group AG, a global wealth manager, says that he expects business activity in the wealth management sector to slow down during the third quarter of this year. However, he believes that overall revenue and trading will continue at the… Read More

September 17, 2020 @ 9:32 pm By JD Alois  |  

Hg Exchange (HGX), Southeast Asia’s first private securities exchange, has kicked off trading. Founding members of the exchange include PhillipCapital, Prime Partners, and Fundnel – a leading securities crowdfunding platform serving sophisticated investors across Asia. Richard Teng, formerly an executive at the Monetary Authority of… Read More