Tagged: southeast asia

Indonesia based Fintech Firm BukuKas Secures $10 Million in Funding via Series A led by Sequoia Capital India

A major part of Indonesia’s economy is supported by SMEs, which represent approximately 60% of the nation’s GDP. Many of the small businesses depend on a lot of manual processes and bookkeeping, however, the impact of the Coronavirus pandemic has led to SMBs becoming more… Read More

Southeast Asia Region Experienced Significant Digital Commerce Growth and Online Payments Adoption by Consumers: Report

The economies of Southeast Asian countries performed quite well in 2020 despite the COVID-19 outbreak and related challenges. The Asian Development Bank (ADB) has projected a contraction of 3.8% for the region during 2020, which doesn’t seem too bad when compared to the Eurozone’s at… Read More

Citi and Grab Financial Services Introduce API enabled Consumer Lending Solution for Singapore and Wider APAC Region

Citi and Grab, which is Southeast Asia’s super app, have extended their partnership in consumer lending with the introduction of the bank’s API-powered lending solution for consumers in the Asia Pacific (APAC) region. Starting off in Singapore with additional markets in the APAC region to… Read More

Deutsche Bank Securities Services and STACS to Work on ESG Fintech, Structured Products, and Projects Involving Digital Assets

Deutsche Bank Securities Services and Hashstacs Pte Ltd (STACS) are reportedly working on a proof-of-concept (PoC) that will involve exploring the technological and practical feasibility of digital assets. The PoC will take into consideration factors like the level of interoperability, liquidity, cross-border connectivity, and various… Read More

How the Regulatory Framework for Crowdfunding Platforms in Southeast Asia will Benefit SMEs and Investors

Peer-to-peer (P2P) lending has come a long way since its early days as a casual crowdfunding platform. Today, individual borrowers and small and medium-sized enterprises (SMEs) can access loans without the hassle of going through banks and lengthy financial assessments. Still, P2P lending is a… Read More

Philippines based Digital Wallet GCash Reaches PHP 1 Trillion in Total Transactions During the Past Year

Philippines-based digital wallet GCash reportedly reached PHP 1 trillion (appr. $20.8 billion) in total transactions for the year 2020, which represents a 254% year-over-year (YoY) increase in transfers. Globe Fintech Innovations Inc. (Mynt), which manages GCash, is part of the portfolio firms of 917Ventures (one… Read More

Singapore’s Digital Wealth Management Firm, Syfe, Introduces Cash Management Solution, Syfe Cash+

Syfe, a digital wealth management firm that’s licensed by the Monetary Authority of Singapore (MAS), has introduced the Syfe Cash+ portfolio which is the company’s cash management product. Syfe Cash+ aims to help all Singapore based consumers with growing their savings while being able to… Read More

Big Tech Firms are Now Offering Fintech and Wealthtech Services in Singapore, but Startups are Also Launching Innovative Services

Singapore’s fast-growing 1,000+ Fintech sector includes a thriving Wealthtech segment which is on track to continue growing and maturing. It’s being supported by an increased interest from local investors, strategic acquisition deals, and the growing demand for automated financial advisory services (or Robo-advisors). Many younger… Read More

Digital Travel Platform Agoda Partners with Buy Now, Pay Later Fintech Atome to Offer Instalment Plans to Malaysia and Singapore Consumers

Agoda, a fast-growing online travel platform, has teamed up with Singapore-based Buy Now, Pay Later (BNPL) platform Atome in order to provide flexible instalment plans for accommodation bookings. These payment options will first be offered in Singapore and Malaysia, and then rolled out to several… Read More

Digital Banking: Malaysia’s Reserve Bank Issues New Policy Document for Virtual Banks, Up to Five Licenses Anticipated

Malaysia’s reserve bank, Bank Negara, has released its policy document on digital banks. The Malaysian central bank’s new document on the licensing framework for all-digital banks has been published after completing a 6-month public consultation. Bank Negara officials stated on December 31, 2020, that the… Read More

Y Combinator backed Indonesian Fintech Finantier to Expand Operations into Emerging Markets

Indonesia-based Fintech firm Finantier has revealed that it has acquired an undisclosed amount of capital from US-based startup accelerator Y Combinator. Finantier will be joining Y Combinator’s Winter 2021 funding cycle, which is scheduled to begin in January 2021. Finantier is planning to expand its… Read More

Gig Economy Is Growing Rapidly in Malaysia but More Inclusive Financial Services are Needed, According to Industry Professionals

The gig economy has been growing steadily in Asian countries like Malaysia, particularly at a time when the COVID-19 outbreak is forcing residents to pick up side jobs to supplement their earnings during these uncertain times. Although the gig economy or temp work opportunities are… Read More

Insurtech: Hong Kong’s ZA Tech and Digital Wallet Provider OVO to Offer Insurance Tech Capabilities to Indonesian Firms

Hong Kong based ZA Tech, a technology venture launched by insurance firm ZhongAn Online and supported by the Softbank Vision Fund, has revealed that it teamed up with the holding company of digital wallet OVO. Through the partnership, both organizations will offer insurance providers in… Read More

Fintech Sector in Brunei Is Growing Steadily as Demand for Remittance Services and Better Credit Solutions Rises: Report

Fintech

Brunei’s Fintech sector continues to grow steadily due to the rising demand for digital financial services and its government’s push to encourage its residents to use modern payment methods. Brunei has the second-highest (after Singapore) human development index or HDI (which measures the overall quality… Read More

CIMB Bank Vietnam and Viva Republic have Launched New Debit Card after Success of their Virtual Payments Card

CIMB Bank Vietnam and Viva Republica, the operator of the Toss app (a payments service), have launched the CIMB-Toss debit card after the success of the CIMB and Toss virtual card – which was introduced in July of this year. Launched earlier this month, the… Read More

Digital Payments Wallet GCash Chosen by Technical Education and Skills Development Authority in Philippines to Distribute Training Subsidies

Mobile payments wallet provider GCash has reportedly been chosen by the Technical Education and Skills Development Authority (TESDA) in the Philippines to distribute funding for training to local residents. TESDA has joined many other businesses and organizations that are using the GCash platform to carry… Read More

Indonesian Tech Giant Gojek has Reportedly Paid Nearly $160 Million for Shares in Indonesian Bank Jago as Part of Major Fintech Deal

Indonesian tech giant has reportedly paid around $159.5 million for shares in an Indonesian bank (PT Bank Jago) – which is part of a major Fintech deal. Gojek is competing with ride-hailing app provider Grab which is also focused on establishing regional Fintech services. Gojek… Read More

Singapore’s Regulated Digital Asset Custodian Propine Develops Asset Tokenization, Compliance Solutions on Zilliqa

The team at Singapore-based Propine, a regulated digital asset custodian, notes that 3 months ago, the company was selected by blockchain platform Zilliqa as one of 8 startups to take part in the ZILHive Accelerator program. The Propine team has now confirmed that they managed… Read More

Fintech Fairbanc, which Offers Credit to Southeast Asia’s Unbanked, Is Now Backed by Columbia Business School

Fairbanc, the Silicon Valley-based Fintech firm that provides credit to the unbanked or financially underserved in Southeast Asia, has received financial backing from Columbia Business School’s student-run impact fund, Microlumbia. According to a release, this financial backing has come shortly after an investment from 500… Read More

 Razer Fintech Teams Up With Rely to Launch Buy Now Pay Later Services in Southeast Asia to Merchants Registered Under Razer Merchant Service

  Razer Fintech, the fintech arm of Razer announced on Thursday it has joined forces with Rely, a Buy Now Pay Later (BNPL) service provider, to offer BNPL services in Southeast Asia to merchants registered under Razer Merchant Services (RMS), its B2B (business-to-business) solution. According… Read More

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