Tagged: southeast asia

Siam Commercial Bank in Thailand to Launch Ripple-based Consumer International Payments Mobile App

The Siam Commercial Bank (SCB) in Thailand will be launching its Ripple-based consumer international payments mobile app. The SCB, which is one of the country’s largest commercial banks, began using RippleNet (Ripple company’s decentralized network of financial institutions) in order to connect to major banking… Read More

Shariah-Compliant Fintech: Malaysia, Singapore, Indonesia Corridor has Made Substantial Progress in Establishing Islamic Finance Services

Vinnie Lauria, an entrepreneur and venture capitalist who established Golden Gate Ventures, an early-stage VC company managing more than $250 million in assets, notes that his Singapore-based company has been watching emerging tech sectors across the Southeast Asia region. Lauria reveals that he’s seeing significant… Read More

Hong Kong-based EMQ, a Global Financial Settlement Network, to Connect to Singapore’s Fast and Secure Transfers Network

Hong Kong-headquartered EMQ, a globally accessible financial settlement network, recently revealed that it’s planning to connect to Singapore’s Fast and Secure Transfers (FAST) network and also offer services in other Southeast Asian countries such as Malaysia. EMQ’s solution will allow businesses to easily make digital… Read More

Nasdaq-listed NICE Actimize Chosen by Asian Digital Bank TONIK to Develop Anti-Money Laundering Solutions and Create Secure Banking Environments

NICE Actimize, a NICE company (Nasdaq: NICE) business offering autonomous financial crime management solutions, has reportedly been chosen by TONIK, an Asian pure-play regulated digital bank, to develop its Essentials anti-money laundering platforms and also to assist in the creation of secure banking environments for… Read More

Thailand Might Not be Ready Like Singapore and Hong Kong to Implement Digital Banking Systems, Says Thai Central Bank Governor

Thailand is currently laying the groundwork for standalone or independently-functioning online banks as the Southeast Asian nation tries to catch up with other nearby markets that have been upgrading their banking infrastructure. Veerathai Santiprabhob, governor of the Bank of Thailand, noted during a recent interview:… Read More

Srustijeet Mishra, CLPS Singapore CEO, Says His Company Aims to Fill Southeast Asia’s Fintech Talent Gap

CLPS Incorporation (Nasdaq: CLPS) noted on December 27 that Srustijeet Mishra, CLPS Singapore CEO, represented the firm as a guest speaker at the SYNC SEA 2019 Summit, which took place on December 6, 2019, in Singapore. During the event, Mishra reportedly discussed the firm’s current… Read More

Report: Southeast Asia’s Growing Internet Economy Is Driving Fintech Adoption

Southeast Asia’s internet and e-commerce economy is growing steadily due to the widespread use of mobile phones. The region’s middle class has also been growing, according to a recent report compiled by Google, Temasek and Bain & Company. Published earlier this month, the e-Conomy SEA… Read More

SE Asian Fintech Akulaku Set to Acquire Indonesian Lending Bank Yudha Bhakti For Rp 158 Billion

Akulaku, a SE Asia-based fintech, is reportedly set to acquire Indonesian lending bank Yudha Bhakti for Rp 158 Billion ($11 million). Founded in 2016, Akulaku is a fintech company that is focused on providing financial services to the underserved. The company has established offices in five countries/regions,… Read More

CIMB Group Joins RippleNet to Power Instant Payments Across ASEAN

CIMB Group (CIMB or the Group), ASEAN’s fifth largest bank, announced last week it has joined forces with Ripple to enable instant cross-border payments across its markets. The duo reported that through this new partnership CIMB will join RippleNet and connect with other Ripple customers, which reportedly has more than… Read More

Ping An’s OnConnect Set to Open New Singapore Office; Announces Plans to Expand Within Southeast Asian Region

OneConnect, a subsidiary of China’s insurance giant, Ping An, announced on Monday it officially opens in Singapore this month and is set to expand within the region at a rapid pace. The company reported that while it is the early days for OneConnect Singapore, the new office have already received overwhelming regional customer… Read More

United Overseas Bank Set to Deploy Digital Banking in Southeast Asian Markets

United Overseas Bank Limited (UOB) is set to introduce its own digital bank, UOB’s Digital Bank, which will be deployed in the bank’s key Southeast Asian markets as the Group accelerates and broadens the growth of its regional customer franchise. According to UOB, the Digital Bank… Read More

Ride-Hailing Company Grab Teams Up With Credit Saison to Launch Financial Services: Looks to Expand Access to Credit for Southeast Asia’s Unbanked

Grab Inc. (Grab), an on-demand transportation and fintech platform in Southeast Asia, announced on Tuesday it has teamed up with Credit Saison Co., Ltd. (Credit Saison), one of Japan’s largest consumer financing companies, to provide loans and lending services to millions of unbanked and underbanked consumers, micro-entrepreneurs… Read More

Hong Kong Fintech WeLab Announces Upcoming SE Asia Expansion

Hong Kong-based fintech startup WeLab has revealed it is set to launch in Southeast Asia within the next year. According to Dealstreet Asia, the mobile lending platform is currently looking into strategic partnerships in the region and is expected to roll out products by 2018’s first… Read More

PawnHero Announces Partnership With PLDT Fintech Arm FINTQ

Fintech

PawnHero, Southeast Asia’s first online pawn shop, has reportedly formed a partnership with the fintech arm of PLDT, FINTQ. This news comes just after the platform announced it secured $9.7 million through a financing deal with a Philippine investment bank. According to DealStreetAsia, FINTQ runs… Read More

Kasikorn Bank Creates $30 million Fintech Fund

Kasikorn Bank has opened up a $30 million fund to invest in to Fintech startups, thus exemplifying the banks attitude to embrace disruptive technologies. The rapid technological developments within the financial industry has opened up new dimensions in the market, changing how customers think. People… Read More

Malaysia Fintech Firm Soft Space Raises US $5 Million From Japan’s Transcosmos

Malaysia Fintech firm Soft Space, which offers mobile payment solutions, announced it has secured US $5 million in funding from Japanese e-commerce company Transcosmos Inc. Mobile POS and E-Commerce Soft Space offers mobile point-of-sale services for small and large merchants in Malaysia and other parts of Southeast Asia…. Read More

SE Asia Blockchain Mobile Payments Platform Coins Raises $5 Million from Naspers

Coins, a Philippines-based blockchain mobile payments platform that services Southeast Asia, announced it had secured US $5 million in funding from Naspers, according to an article on Techcrunch. Naspers, which is based in South Africa, is one of the world’s largest investors in tech. The… Read More

NextTech Aims To Be Vietnam’s Alibaba

E-commerce company NextTech, which is based out of Hanoi, Vietnam, is aiming to become its country’s version of Alibaba. Alibaba, of course, is China’s e-commerce and technology (including Fintech) juggernaut that helped the country surpass the US in mobile payments by more than 50 times. Can… Read More

Myanmar Implements UnionPay Chip Cards in Continued Banking Modernization

While the Western world and other parts of Asia surge forward with fintech innovations, from blockchain technology to digital banking features and services, Myanmar celebrates other banking development wins as the country continues to modernize. Earlier this week, Enterprise Innovation reported that Myanmar — formerly known… Read More

Grab Turns to Indonesia with $700M to Invest in Mobile & Payments

Singapore-based company Grab, self-described as “Southeast Asia’s Leading Ride-Hailing Platform”, is investing $700 million in Indonesia to make the country ASEAN’s most digital economy.  Grab’s project will focus on mobile fintech features in the country, and in particular, on mobile payment. According to the company, the… Read More

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