Tagged: southeast asia

July 4, 2021 @ 3:45 pm By Omar Faridi  |  

Singapore-based Insurtech company Bolttech recently revealed that it has finalized an oversubscribed $180 million Series A round which values the firm at over $1 billion, thus giving it Unicorn status just a year after it began operations. Bolttech’s investment round was led by Activant Capital… Read More

July 4, 2021 @ 3:12 pm By Omar Faridi  |  

Singapore-based Endowus, a Monetary Authority of Singapore (MAS)-approved and licensed digital wealth management platform, reveals that it has acquired an investment from strategic investors UBS AG, Samsung Ventures and Singtel Innov8. The size of the investment has not been disclosed. Venture capital investors Lightspeed Venture… Read More

July 4, 2021 @ 12:28 pm By Omar Faridi  |  

Bank Negara Malaysia, the nation’s reserve bank, recently revealed that it received 29 different applications for a virtual bank license under the Financial Services Act 2013 and the Islamic Financial Services Act 2013. This has come after a 6-month application period, which came to an… Read More

June 29, 2021 @ 10:13 pm By Omar Faridi  |  

Siam Commercial Bank (BKK: SCB), which is Thailand’s first and oldest banking institution, and Thunes, an established international payments firm, revealed on Tuesday (June 29, 2021) that they have teamed up to allow individual customers and businesses overseas to send money to Thailand. The cross-border… Read More

June 29, 2021 @ 9:28 pm By Omar Faridi  |  

Southeast Asia-based Fave, a fast-growing Fintech firm, has introduced its Buy Now, Pay Later (BNPL) service for Singapore and Malaysian markets, offering more than 6 million Fave users with instant access to interest-free credit options. These flexible payment options are available at more than 40,000… Read More

June 29, 2021 @ 7:49 pm By Omar Faridi  |  

Philippines-based digital and financial services company Voyager Innovations has secured $167 million in capital for its expansion program, which includes a venture into virtual banking, its listed and largest shareholder confirmed on Monday (June 28, 2021). Shareholders PLDT Inc, private equity firm KKR & Co… Read More

June 29, 2021 @ 7:16 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) reveals that it has introduced an international challenge for retail central bank digital currency (CBDC) solutions. The Global CBDC Challenge from the MAS will aim to find innovative retail CBDC solutions to improve existing payment processes while promoting greater… Read More

June 26, 2021 @ 11:27 pm By Omar Faridi  |  

Philippines-based neobank Netbank reveals that it has decided to join the Mastercard Fintech Express program which should allow it to access a wide range of all-digital products. Netbank will also be able to issue debit and credit cards under its partners’ brands. Through the partnership… Read More

June 26, 2021 @ 9:25 pm By Omar Faridi  |  

The Rizal Commercial Banking Corporation (RCBC) has introduced a digital transformation initiative with assistance from the Rural Bankers Association of the Philippines (RBAP). The new project will be supporting the SynerFi Open Finance Network. This development has come shortly after the Bangko Sentral ng Pilipinas… Read More

June 26, 2021 @ 7:23 pm By Omar Faridi  |  

Axiata Digital’s online wallet Boost has reportedly launched three new micro-insurance and takaful plans under the name “Boost Protect” in order to provide consumers in Malaysia with affordable and premium coverage. The addition of MozzieProtect, FamilyProtect, and Critical Illness Care brings the total coverage plans… Read More

June 25, 2021 @ 9:38 pm By Omar Faridi  |  

eRemit Singapore, a digital remittance service platform that’s supported by Merchantrade Asia and QALA Tech, has teamed up with Hong Leong Assurance Singapore (HLAS) in order to provide a new insurance scheme for migrant workers based in Singapore. The eRemit Singapore’s Salary Protector Scheme has… Read More

June 25, 2021 @ 10:31 am By Omar Faridi  |  

Senior management professionals from Fintech giants such as Grab, PayPal, and Stripe have all come together to establish an angel investment network that will aim to channel funds towards early-stage ventures based in Southeast Asia. Established with assistance from Saison Capital and Finantier, the Fintech… Read More

June 24, 2021 @ 11:06 pm By Omar Faridi  |  

Hg Exchange (HGX), a private securities exchange established by a group of capital market intermediaries, reveals that it has graduated from the Monetary Authority of Singapore (MAS) Fintech Regulatory Sandbox with a Recognized Market Operator (RMO) license. With its RMO permit, HGX may now serve… Read More

June 23, 2021 @ 10:55 pm By Omar Faridi  |  

Bank CTBC Indonesia, which operates as a special unit of CTBC Bank, an established private bank in Taiwan, recently revealed that it has introduced a digital lending platform for a personal loan product, known as KTA Dana Cinta. The KTA Dana Cinta product lets you… Read More

June 21, 2021 @ 11:27 pm By Omar Faridi  |  

Standard Chartered (the Group) recently revealed that it will be appointing Roel Louwhoff who will be serving as the new Group Chief Digital, Technology & Innovation Officer. Louwhoff previously worked as Chief Operations and Transformation Officer at ING since 2014. According to an update from… Read More

June 20, 2021 @ 10:02 pm By Omar Faridi  |  

Earlier this week, Singapore-headquartered digital wealth management service provider Endowus confirmed that it had appointed Wei Mei Tan as its Chief Advisory Officer. In her role at Endowus, Wei Mei will be expected to lead strategic initiatives in order to accelerate the company’s ongoing growth… Read More

June 20, 2021 @ 9:08 pm By Omar Faridi  |  

Indonesia-based Brankas, an Open Banking services provider, recently revealed that it has managed to exceed 10 million monthly API calls with more than 80 network partners. The Brankas platform currently operates in over six different countries and has teamed up with over 30 financial institutions… Read More

June 20, 2021 @ 7:18 pm By Omar Faridi  |  

Singapore‘s United Overseas Bank (UOB), a multinational banking organization with branches mostly based in Southeast Asian countries, has reportedly used Marketnode’s digital asset issuance, depository and servicing platform to issue a new bond offering valued at SGD 600 million (appr. $446 million), with a final… Read More

June 20, 2021 @ 4:01 pm By Omar Faridi  |  

Bank Negara Malaysia (BNM) and the Bank of Thailand (BoT) recently revealed that they’ve introduced a cross-border QR payment linkage between the two countries. Under this linkage, both consumers and merchants residing in Malaysia and Thailand can make and receive instant, cross-border QR code payments…. Read More

June 16, 2021 @ 11:18 pm By Omar Faridi  |  

Small and micro businesses (SMBs) account for over 90% of global businesses, and more than half or around 50% of global employment, and contribute over 60% of the GDP of developing nations, the Visa (NYSE:V) team writes in a blog post. However, 2020 was quite… Read More