Tagged: southeast asia

Thailand based Banks Embrace New Technologies But Digitalization of Financial Services Not Adequate – Report

Banks and financial institutions in Thailand leverage mature technology and incorporate modern features. However, industry professionals at the recent ENGAGE ASIA 2023 emphasized “that the challenge stems from the absence of unification across different touchpoints, resulting in fragmented customer engagement.” The majority of the systems… Read More

Binance Is Reportedly Operating without Authorization in the Philippines, Nation’s Securities Regulator Has Warned

The Philippines Securities and Exchange Commission (SEC) has reportedly issued an advisory against Binance for allegedly carrying out unauthorized business operations. This latest announcement from the Philippines comes shortly after the nation’s SEC stated that it would begin calling out unlicensed exchanges as part of… Read More

Singapore’s Accounting and Bookkeeping Sector Undergoing Considerable Business and Digital Transformation, Report Claims

Xero, the global small business platform, has released a new report revealing Singapore’s accounting and bookkeeping sector is undergoing significant transformation, “driven by technology innovation and shifting client expectations.” Xero’s State of the industry report “surveyed 300 accountants and bookkeepers working in Singaporean practices to… Read More

Digital Transformation: Bank of the Philippine Islands Adopts Digital-First HR via Partnership with Darwinbox

Bank of the Philippine Islands (BPI) adopts digital-first HR with its partnership with Darwinbox, Asia’s Human Resource Management System (HRMS) provider. With a legacy spanning over 170 years, BPI has “enhanced its employee experience and streamlined HR processes for its 18,000-strong workforce, covering a diverse… Read More

Citi Finalizes Sale of Indonesia Consumer Banking to UOB

Citi (NYSE: C) announced it has successfully completed the sale and full migration of its Indonesia consumer businesses to UOB Indonesia (UOBI). The sale includes retail banking, credit card, and unsecured lending businesses, “as well as the transfer of employees.” Citi and UOB first announced… Read More

Habyt and Rently Provide Deposit-Free, Flexible Living Solutions to Singapore, Hong Kong

Hong Kong City

Habyt, the flexible housing provider,  announced an exclusive partnership with Singapore-based startup, Rently, that marked a significant milestone in “the evolution of flexible living solutions.” For the first time in the co-living sector, Habyt has introduced “a disruptive rental model which allows new members freedom… Read More

Funding in Southeast Asia Continues to Decline, but Strong Valuations are Bright Spot – Report

Funding in Southeast Asia continues to decline, but strong valuations and M&A activity are bright spots, according to an update shared by CBInsights. Venture funding in Southeast Asia continued “to slide in Q3’23, falling by 24% quarter-over-quarter (QoQ) to $1.6B,” the CBInsights report revealed. Deals… Read More

Fintech Solutions: Adyen for Platforms Integrates with TabSquare, a Delivery Hero Entity, to Improve CX

Adyen (AMS: ADYEN), the global financial platform of choice for leading companies, announced the successful integration of Adyen for Platforms for TabSquare, a Delivery Hero entity, to further enhance customer experience across all channels for Quick Service Restaurants (QSR) in Singapore. Adyen for Platforms is described… Read More

Following Investigations by Tether, OKX, US DoJ, $225M in “Stolen” USDT Now Frozen, Funds “Linked” to Crime Syndicate

Tether, the largest company in the cryptocurrency ecosystem, and leading global crypto exchange and Web3 technology company OKX, announced that they have assisted the United States Department of Justice (DOJ) in an investigation that “led to Tether proactively and voluntarily freezing approximately 225 million in… Read More

Indonesia: Residential Property Price Survey Reveals Prices in Primary Market are Rising Annually

The latest Residential Property Price Survey conducted by Bank Indonesia in the third quarter of 2023 indicates “that residential property prices in the primary market are still rising annually, with growth of the Residential Property Price Index (RPPI) accelerating to 1.96% (yoy) from 1.92% (yoy)… Read More

Philippines: Personal Remittances Rise YoY in Sept 2023; First Three Quarters Level Reaches $27.24B

​Personal remittances from Overseas Filipinos (OFs) in September 2023 have reportedly “reached US$3.23 billion, 2.6 percent higher than the US$3.15 billion recorded in the same month last year.” The growth in personal remittances in September 2023 was driven “by increased remittances from 1) land-based workers… Read More

Fintech Thunes and Kapronasia Explore Southeast Asia’s Payment Culture

Thunes and Kapronasia, a strategic advisory and financial services consultancy, have issued a report, “From Cash to QR codes: Unpacking Southeast Asia’s Diverse Consumer Payments Culture,” examining the region’s world-leading payment landscape. The report explores why payment digitization has been on the rise in Southeast… Read More

Green Fintech Seen As Promising New Growth Area in Southeast Asia

Green fintech has become a promising new growth area in Southeast Asia, with green fintech firms bringing innovative solutions to help businesses and governments address challenges and opportunities of going green. This insight was part of the report – Fintech in ASEAN 2023: Seeding the… Read More

Sygnum Singapore Onboards Bordier as B2B Partner Bank

Bordier & Cie (Singapore) is Sygnum Singapore’s first B2B client since the latter received its MAS Major Payment Institutions license in October 2023 and launched its regulated Digital Payment Token (DPT) brokerage service. Globally, Sygnum has enabled “the 15+ banks and international financial institutions on… Read More

Thailand’s RISE and Israel’s OurCrowd Introduce ROCX Exponential Fund

OurCrowd, a global digital investment platform, and RISE, the corporate innovation powerhouse based out of Southeast Asia, announced the launch of the ROCX (Rise OurCrowd Exponential) Fund. The $50 million fund is Thailand’s “first” Israel-focused VC fund and “will invest in early-stage deep technologies in… Read More

Singapore’s dtcpay Teams Up with PlatON, a Privacy-Preserving Digital Public Infrastructure Provider

dtcpay is pleased to announce their partnership with PlatON, a firm focused on privacy-preserving digital public infrastructure, and Tonghua International’s Allinpay International, a global Fintech payments solution. dtcpay, PlatON, and Allinpay International announce collaboration will “launch an innovative digital currency payment system based on smart… Read More

Malaysia’s Maybank Expands Cross-Border Services to China, Enhances ASEAN Financial Integration

Maybank announced the expansion of its cross-border QR Pay service to China, one of the first in the market for a Malaysian bank, amplifying Maybank’s existing cross-border payment capabilities and enhancing the ease and efficiency of financial transactions. This initiative aims to benefit over 8… Read More

Cryptocurrency Lending Platform Hodlnaut Reportedly Ordered to Wind Down Operations and Repay 17,000 Clients

Cryptocurrency lender Hodlnaut has started its liquidation in Singapore. As widely reported, Hodlnaut is to be liquidated in Singapore following a failed attempt to restructure the firm’s business operations. The company reportedly lost funds during the Terra/Luna collapse and the demise of FTX in late… Read More

Singapore Small Business Owners Dip into Personal Savings, Raise Prices to Mitigate Increasing Costs – Report

Singapore small business owners are dipping into their personal savings, increasing their prices, and not paying themselves to mitigate rising costs and make a profit, according to a new report from global small business platform Xero. The report titled “Money matters: navigating the impact of… Read More

Fintech Fave Joins Monetary Authority of Singapore in PoC to Enable Interoperability Across QR Payments Ecosystem

Fave, a consumer fintech platform in Southeast Asia and India, has announced its participation in the SGQR+ POC led by the Monetary Authority of Singapore (MAS). The SGQR+ POC will be limited “to Districts 16 and 17 of Singapore and showcased during the Singapore FinTech… Read More

Send this to a friend