Tagged: southeast asia

Malaysia: Fintech BigPay Adds Australia and Vietnam to Global Remittance Service, will Add China Soon

Asian Fintech firm BigPay announced on June 19, 2020, that it has added Australia and Vietnam to its global remittance service, and will be adding China soon. The company added Bangladesh and India in January of this year. BigPay’s management noted that they’re committed to… Read More

Malaysian Fintech Curlec to Help SMEs Process Recurring Payments via Direct Debit Bank to Bank Transactions

Malaysia-based Curlec, a Fintech firm that aims to offer a better way for businesses to collect recurring payments, recently secured funding from 500 Startups, an early-stage VC fund and seed accelerator established in 2010 by entrepreneurs Dave McClure and Christine Tsai. Curlec completed its seed… Read More

Fintech Adoption: Mobile, Digital, and Contactless Payments Increasingly Being Used in Indonesia due to COVID-19

The COVID-19 outbreak has created significant socio-economic challenges, which have impacted individuals and businesses across the globe. More people are now spending time at home due to government-enforced nationwide lockdowns. Certain segments of the Fintech industry, including digital, mobile, and contactless payments,  have seen increased… Read More

Philippines based Digital Financial Services Firm Ayannah Merges with Indian Payments Company Equity Capital Advisors

Philippines based Ayannah, an online financial services provider, and India’s payments firm Equity Capital Advisors (ECAPS) have merged their operations in order to provide cost-effective and more accessible financial services to South Asia and Southeast Asia’s growing middle-class population. The merged entity will aim to… Read More

The Majority of Indonesia’s Shariah-Compliant Fintech Firms are Using the P2P Business Model

The steady rise and adoption in Sharia Fintech has transformed Indonesia’s trillion dollar economy, as the nation’s Muslim residents seek financial services that follow Islamic law and guidelines. Indonesia is notably Southeast Asia’s largest emerging market. It has turned into a hub for new companies… Read More

Here’s Why Indonesia could be Ideal for Fintech Lending Platforms as Many Residents are Underbanked, and within Working Age

Indonesia’s Fintech sector has been growing steadily, however, the majority or over 70% of the country’s adult population is unbanked or underbanked, according to the latest e-Conomy SEA Report. This suggests that Fintech businesses in Indonesia have a good opportunity to provide modern financial services… Read More

Digitally Advanced Southeast Asian Banks Expected to Accelerate Digital Transformation Strategies Due to COVID-19: Report

Southeast Asian banks will most likely accelerate their digital transformation initiatives, due to the COVID-19 outbreak and changing consumer behavior resulting from safe distancing measures and lockdowns. Incumbents could be challenged more than ever before, as they might struggle to offer the same level of… Read More

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

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