Tagged: southeast asia

Southeast Asia’s Super App Grab Reports Steady Business Growth

Grab Holdings Limited (NASDAQ: GRAB) announced unaudited financial results for the first quarter ended March 31, 2024. Anthony Tan, Group Chief Executive Officer and Co-Founder of Grab said: “Our focus on product-led growth is bearing fruit, with On-Demand GMV scaling to new highs in spite… Read More

Digital Payments: Singapore, Malaysia, Thailand Have Reportedly Implemented Domestic Instant Payment Schemes with Strong Adoption

Many countries have launched or are in the process of launching instant payment rails, which are transforming how payments are made and processed, the researchers at Juniper Research noted. However, one key limitation with national payment rails is “that they can only facilitate payments domestically,… Read More

Salmon Partners with ECPay to Enhance Financial Access in SE Asia

Salmon Group Ltd, a Fintech group in Southeast Asia, has announced a strategic partnership with ECPay, a provider of electronic payment systems in the Philippines. This collaboration aims to broaden financial accessibility for over 500 million underserved individuals in the region, particularly those without traditional… Read More

API Infrastructure Fintech Setu Appoints Anand Raisinghani as CEO

API infrastructure Fintech Setu has announced the appointment of Anand Raisinghani as its new CEO. Anand is said to vast experience in “building high-performance teams and joins at a time when consent-based structured data sharing via the Account Aggregation model is gaining prominence.” Prior to… Read More

Funding Societies and SGeBIZ to Offer Embedded Finance Solutions for SMEs in Singapore

Funding Societies, the unified SME (small and medium enterprises) digital finance platform in Southeast Asia, announced a partnership with Singapore E-Business (SGeBIZ) – a digital procurement, payment and sourcing platform provider – to bring B2B (business-to-business) embedded finance (EmFi) solutions to businesses in Singapore, that… Read More

Monetary Authority of Singapore and Mastercard to Enhance Cooperation in Cybersecurity

The Monetary Authority of Singapore (MAS) and Mastercard (NYSE: MA) signed a Memorandum of Understanding (MoU) to enhance cooperation in cybersecurity, with the aim to strengthen cyber resilience in the financial services sector in Singapore. The strategic partnership aims to further cement the collaboration between… Read More

Payment Cards Used in 40% of Digital Commerce Transactions in Singapore – Report

In Singapore’s dynamic e-commerce landscape, payment cards reign supreme, commanding over 40% of the market share for online transactions in 2023. As consumers increasingly pivot “towards digital channels, the country’s e-commerce market is expected to register a robust 13% growth in 2024 to reach SGD22.3… Read More

Southeast Asia’s Super App Grab Announces Key Board Appointments

Grab Holdings Limited (NASDAQ: GRAB) announced updates to its Board of Directors. With immediate effect from April 1, 2024, Daniel Yun (Chief Executive Officer of KakaoBank) and David Loh (Executive Director and Joint Chairman of Centurion Corporation) will be appointed to Grab’s Board of Directors,… Read More

Singapore: SFA FinTech Ecosystem Registry to Launch in June, Replacing Current SFA Directory

As the fintech landscape in Singapore continues to expand and evolve, the need for an updated, comprehensive registry has never been clearer, according to an update shared with CI. As stated in the announcement, the upcoming launch of the SFA FinTech Ecosystem Registry in June… Read More

Card Payments in Malaysia Expected to Exceed $84B This Year, Report Claims

The Malaysian card payments market is expected to grow by 10.2% to reach MYR387 billion ($84.9 billion) in 2024, supported by constant consumer shift towards non-cash payments, says GlobalData, a data and analytics company. GlobalData’s Payment Cards Analytics reveals “that card payments value in Malaysia… Read More

Ant Group Announces Additional Investment in Singapore based ANEXT Bank

Alibaba’s Ant Group has reportedly committed another SGD 200 million investment into ANEXT Bank, which is its wholly-owned subsidiary and SME digital bank. This, according to media reports from March 25, 2024. As reported by DealStreetAsia, the digital finance and technology firm had previously committed… Read More

Tonik Digital Bank Appoints Ex- BAP Head Cesar Virtusio to Key Role in the Philippines

Tonik, the digital bank in the Philippines, announces the appointment of Mr. Cesar O. Virtusio as a new Independent Director on the Board of its regulated bank subsidiary, Tonik Digital Bank Inc. Mr. Virtusio, an experienced professional in the Philippine and foreign banking and finance… Read More

HashKey Obtains In-Principle Approval from MAS for Major Payment Institution License Application

HashKey Technology Services Pte. Ltd., the over-the-counter trading arm of HashKey Group, has received in-principle approval from the Monetary Authority of Singapore for its Major Payment Institution licence application to provide digital payment token services. The in-principle approval from the MAS, which is described as… Read More

PolicyStreet Partners with Neobank Vircle to Introduce Embedded Insurance Coverage for Children in Malaysia

In line with its effort to enhance financial security for Malaysian families, PolicyStreet partners with neobanking service provider Vircle to introduce Vircle Club Protect—an exclusive embedded coverage “for children available to all Vircle VISA prepaid card subscribers.” Vircle, known for its parent-friendly e-money solutions, “empowers… Read More

Tonik Digital Bank Introduces Multipurpose Loans for Consumers in the Philippines

Tonik Digital Bank, the Philippines’ first digital-only neobank, revamped the Big Loan, a multipurpose loan catering to a wider range of Filipinos’ financial needs. First launched in 2023, the Big Loan reportedly “offers borrowers up to P5 million with flexible, tailored repayment options, competitive interest… Read More

Maybank Introduces Ecosystem for Malaysian SMEs, Providing Solutions Focused on Sustainable Principles

Maybank introduced the myimpact SME Hub, a one-stop integrated and holistic ecosystem for Malaysian Small and Medium Enterprise (SMEs), “offering value-based solutions established on sustainable and ethical principles.” It also serves as a knowledge hub and support system “to facilitate and partner SMEs in their… Read More

Tonik Digital Bank Teams Up with Southeast Asian Payment Gateway Provider Xendit

Tonik Digital Bank announces its newest strategic collaboration with Southeast Asian payment gateway, Xendit. The partnership marks a significant milestone for both companies, “as they join forces to deliver secure, convenient, and customer-centric financial solutions.” The partnership with Xendit will further “enrich Tonik’s ecosystem by… Read More

Colt Technology Services Announces Completion of PoC Utilizing Singapore Exchange Group’s Derivatives Data

Colt Technology Services, the digital infrastructure company, announced the successful completion of a three-month Proof of Concept utilizing Singapore Exchange (SGX Group)’s Derivatives data, showcasing how Market Data in the Cloud, Colt’s Multicast Raw Market data distribution service for Capital Markets, is “unlocking the full… Read More

Tonik Digital Bank in the Philippines Announces Significant Leadership Transition

Tonik Digital Bank Inc. (TDB), the digital bank in the Philippines, announced a significant leadership transition. Long Pineda, President of TDB, will be retiring from her executive role and will “assume the position of non-executive Chairman of the Board of Directors of TDB.” In her… Read More

UnionBank of the Philippines to Adopt Informatica’s Intelligent Master Data Management (MDM) SaaS

Informatica (NYSE: INFA), an enterprise cloud data management leader, today announced that UnionBank of the Philippines, a universal bank in the Philippines, has chosen to adopt Informatica’s intelligent Master Data Management (MDM) SaaS as “the bank transitions from an on-premises solution to the cloud as… Read More