Asia


Turkey’s TEB calls for fintech start-ups

TEB (Türk Ekonomi Bankası) in Turkey has launched a fintech programme and wants the nation’s entrepreneurs and start-ups to get in touch. Why? TEB says: “Because the day will arrive when a technology giant will come from Turkey too.” TEB will provide start-ups with its infrastructure, experience, financial support for their first project, and “even […]

Top ten mobile banking apps in India – August 2016

What were the most popular mobile banking apps (on Android) in India in August 2016? We reveal the stats for the top ten apps in India, ranked taking into account two engagement metrics – current installs and active app users.

Wipro goes with the blockchain flow

IT services integrator Wipro has set up a blockchain research facility at its Bengaluru campus in India to help its engineers build applications. Wipro is working with a number of unnamed start-ups to scale up the business, and with scant regard to detail it says some pilot projects should be completed soon. Being vague is […]

Bank of Bhutan goes live on TCS Bancs’ core banking system

Bank of Bhutan, the country’s oldest and largest bank, has ditched Oracle FSS’s Flexcube and gone live on TCS Financial Services’ Bancs core banking system. TCS says all existing customers, accounts, lending and internet banking subscribers were migrated from Flexcube (which was originally installed at the bank in 2008) to TCS Bancs. The bank selected […]

PayU acquires India’s Citrus Pay for $130m

PayU has bought Citrus Pay for $130 million – the “largest ever M&A cash deal” in India’s fintech space. The deal is part of PayU’s growth plans and it claims its number of customers in India will grow to more than 30 million, processing a forecasted 150 million transactions in 2016 worth a combined $4.2 […]

B1NK bot brings payments “first” to Kazakhstan

Digital-only B1NK, part of Capital Bank Kazakhstan, has unveiled the region’s “first” chat and payments bot – using Telegram Messenger. The bank says its customers can send money to friends and manage their cards all via the messenger service. Gani Uzbekov, CEO, Capital Bank Kazakhstan (B1NK), says: “Today only a couple of tier-2 banks in […]

PhonePe and Yes Bank unveil India’s “first” UPI-based payments app

Payments firm PhonePe and Yes Bank have teamed up to launch India’s “first” UPI (Unified Payments Interface) based mobile payments app. UPI was launched in April by the National Payments Corporation of India (NPCI) – with Yes Bank being one of the 21 banks recently going live. UPI offers instant, online bank payments, and is […]

Samsung mulls blockchain adoption

Samsung Group could be turning its eyes toward blockchain, according to the Korean Times. The CEOs of Samsung Group subsidiaries attended a lecture on blockchain at Seoul National University, which could be a sign that the group is looking to jump on the crowded blockchain bandwagon. Local media in South Korea also reported Samsung Group […]

India’s Unified Payments Interface a live wire

Unified Payments Interface (UPI), launched in April by the National Payments Corporation of India (NPCI), is going live for 21 banks. UPI offers instant, online bank payments, and is seen as a major change to the Indian financial sector. It enables banks to provide real-time payments through QR code enabled addresses and offers device fingerprinting […]

Top ten lending sites in India – July 2016

Who is leading the digital way among the lending companies in India? We have put together some nifty stats for India’s top ten online lending sites for the past month (data courtesy of SimilarWeb). We’ll be publishing regular updates on a monthly basis, to track the changes, developments and trends – to bring you a fuller picture […]

Top ten retail banking sites in India – July 2016

Who is leading the digital way among the retail banks in India? We have put together some nifty stats for India’s top ten online banking sites for the past month (data courtesy of SimilarWeb). We’ll be publishing regular updates on a monthly basis, to track the changes, developments and trends – to bring you a fuller picture of […]

IDFC Bank deploys customer experience and digital banking platforms from Backbase

Digital banking software specialist Backbase is implementing its omnichannel banking platform at IDFC Bank. India-based IDFC Bank will be able to service its customers “through multiple channels synchronously, creating a single multimodal touch point”, according to the vendor. The goal is to “quicken response time and improve efficiencies”. Dr Rajiv Lall, MD and CEO of IDFC Bank, […]

Thomson Reuters teams with Oddup for start-up rating app

Thomson Reuters has teamed with Oddup to launch a new app that rates fintech start-ups in Asia. The “first of its kind in Asia”, the app is now available on Thomson Reuters’ Eikon App Studio and provides ratings, which Thomson Reuters says enables people to “stay on top” of the growing Asia fintech scene. James […]

Sri Lanka’s National Savings Bank goes into system selection mode

The National Savings Bank (NSB) in Sri Lanka is calling for expressions of interest (EOI) as it looks to upgrade its core banking system. It is now inviting bidders to supply, implement, rollout and maintain the new core banking system. EOIs should be submitted on or before 19 September 2016. Once the EOIs have been […]

Standard Chartered bringing biometrics to Asia, Africa and Middle East

Standard Chartered is rolling out a suite of fingerprint and voice biometric technologies across Asia, Africa and the Middle East. The bank says the launch reaches more than five million clients, and is the “most extensive rollout of fingerprint biometric technology by any international bank and a first in most markets”. It is on a […]

Digital games banks got to play – part 1

Today, most banks want to be digital leaders because that is where the customers are! This has brought in a change in the attitude of many traditional banks. Arun S. Padaki, a seasoned corporate banker, credit risk and business process management consultant, explores what it takes to become a digital leader and who is already ahead in […]

Mobile on the cards for Union Bank of India

Union Bank of India has launched Ucontrol, a solution which lets customers control credit card usage with a mobile application. The solution is powered by payments provider Worldline, and Union Bank cardholders can manage usage of all their Union Bank of India credit cards from a single mobile application. Shri Arun Tiwari, chairman and managing […]

Apps open up in South Korea for personal finance

The South Korean government is launching an open platform designed to let firms develop and test apps for personal finance management. According to Korea Joongang Daily, the platform will be available at the end of this month. The Financial Services Commission in South Korea announced today (10 August) that 16 banks and 25 brokerage firms […]

Profit problems linger for Intellect

Intellect Design Arena’s lack of profit continues as it has reported a loss after tax of INR 55.2 million ($826,690) for the quarter ended 30 June 2016. This is an improvement on the previous year’s quarter, when loss after tax was INR 111.1 million ($1.6 million). Arun Jain, chairman and managing director, Intellect Design Arena, […]

Payza partners with NRGT for payments innovation in India

Payments platform Payza has partnered with New RAMPgreen Technologies (NRGT) in India to launch the “first” global online wallet that can be used by Indians in their local currency. Payza says prior to this local payment service Indians were not permitted to hold any rupees in any online ewallet. It says the “only way” they […]

National Stock Exchange of India goes live on ITRS’s Geneos monitoring software

India’s National Stock Exchange (NSE) has implemented ITRS’s real-time monitoring platform, Geneos. ITRS says the rollout is part of the NSE’s objective to “streamline” operations due to the recent regulatory reform in the Asian securities market. G. Shenoy, CTO operations at NSE, says: “ITRS Geneos gives us an early warning system so that we can […]

Top ten retail banking sites in India – June 2016

Who is leading the digital way among the retail banks in India? We have put together some nifty stats for India’s top ten online banking sites for the past month (data courtesy of SimilarWeb). We’ll be publishing regular updates on a monthly basis, to track the changes, developments and trends – to bring you a fuller picture of […]

Axis Bank pilots India’s first RuPay EMV contactless smart card

Axis Bank has partnered with OT (Oberthur Technologies) to pilot the “first” open loop EMV contactless smart cards to be used in public transportation in Bengaluru, India. OT, a provider of security software products and services, says the cards allow people to tap and pay instead of buying a ticket each time they use transportation […]

Shubham Housing Finance opts for Nucleus’ FinnOne lending platform in the cloud

India-based Shubham Housing Development Finance Company has implemented Nucleus Software’s FinnOne Neo, a loan lifecycle management solution in the cloud. Nucleus says Shubham is one of the first dedicated housing finance companies in India to set up their lending platform on cloud infrastructure. Ajay Oak, chief operating officer of Shubham, says Nucleus was chosen “because […]

ICICI and Axis first Indian banks to join Swift payments initiative

ICICI Bank and Axis Bank are the first Indian banks to sign up for Swift’s global payments innovation initiative. Swift says both of them will be joining forces with more than 70 other banks globally. The initiative aims to “enhance” cross-border payments by using its messaging platform. In its first phase, the initiative will focus […]

Mainstream fintech in India: a bird’s eye view

Soumik Roy, Banking Technology’s editorial contributor based in India, explores India’s digital banking landscape, examines innovative players like DBS digibank, and ponders what’s next for the nation’s fast-paced fintech sector. Electronic banking and payments are rapidly picking up pace in India; citizens love the convenience, the government hopes it will drive transparency and reduce the […]

Standard Chartered bringing video banking to Asia, Africa and Middle East

Standard Chartered Bank is bringing its video banking service to Asia, Africa and the Middle East, the “biggest roll-out of its kind by any international bank”. The bank says more than five million clients in nine markets across the continents will get access. The service is already live in Malaysia and Singapore, and will launch […]

Yes Bank says yes to Gemalto’s mobile payments for UPI

Yes Bank has deployed Gemalto’s SafeNet Network HSM to secure mobile payment transactions for its customers under India’s recently implemented Unified Payments Interface (UPI). UPI was launched in April by the National Payments Corporation of India (NPCI), and will go live by the end of this month with 15 participating banks. It offers instant, online […]

Infosys quarterly profit dips

Financial systems vendor Infosys has reported a fall in profit for Q1 2016 due to slower than expected project ramp-ups on deals it had won in previous quarters. For the quarter ended 30 June 2016, net profit was $511 million – a quarter-on-quarter (QoQ) decline of 4.1%, but a year-on-year (YoY) growth of 7.4%. Operating […]

India’s Unified Payments Interface gets more banks onboard

Unified Payments Interface (UPI), launched in April by the National Payments Corporation of India (NPCI), will go live by the end of this month with 15 participating banks. UPI offers instant, online bank payments, and is seen as a major change to the Indian financial sector. It enables banks to provide real-time payments through QR […]

Reserve Bank of India to tackle fintech regulations

The Reserve Bank of India (RBI) has put together an inter-regulatory working group (WG) to study the entire gamut of regulatory issues relating to fintech and digital banking in India. The move is designed to help facilitate their development and is the latest in a long list of technological advances in the country. Aside from […]

Standard Chartered to invest $3bn in strengthening ops; not threatened by fintech firms

Standard Chartered says it plans to invest $3 billion in strengthening it technology, retail and private banking and wealth management operations. As part of this, $30 million will be invested over the next three years in Scope International, the bank’s global shared services centre in Malaysia. Scope International’s CEO Matthew Norris says that the subsidiary […]

World first as blockchain used in Myanmar microfinance space

Japan-based software development firm Infoteria says it has “successfully” used blockchain for microfinance transactions in Myanmar – the “first time in the world”. The test was carried out on the computer system of Yangon-based BC Finance, Myanmar’s largest microfinance company. Infoteria says the data in question comprises spreadsheet software rather than specialty systems; and transactions […]

Rubik expands in Asia with Bank Alfalah

Pakistan’s Bank Alfalah will implement Australia-based Rubik Financial’s collections platform, CWX. Rubik is joining forces with long-time banking partner Temenos on the project to integrate CWX with Temenos’ core banking system T24. Iain Dunstan, Rubik’s CEO, says CWX will enable its clients to “better evaluate, manage and review their collections strategy, as well as greater […]

Maybank live with One Treasury in India; launches mobile app in Cambodia

Maybank Indonesia has gone live with Intellect’s integrated treasury management system, One Treasury, for its Indian operations. Intellect says the solution has enabled the overseas branch to “eliminate dependence on intensive manual operations”. The firm says the deployment, user acceptance testing (UAT) and data migration were completed in seven months. Intellect says One Treasury is […]

Axis Bank first in India to launch innovation lab, Thought Factory

India’s third largest private sector bank, Axis Bank, has launched a new innovation lab, becoming the first domestic bank to do so in India. Dubbed “Thought Factory”, the lab is aimed at accelerating the development of innovative technology solutions for the banking sector and is expected to work closely with the start-up community. Thought Factory […]

Fujitsu builds accounting system for Central Bank of Myanmar

Fujitsu has built an accounting system that complies with International Financial Reporting Standards (IFRS) for the Central Bank of Myanmar. The Japanese firm says it has systemised journal entry, including functions for automatically generating accounting entries, and all sorts of forms. These were previously done manually by bank employees. This accounting system was built by […]

State Bank of India merges with associate banks

India’s government has given the green light to the State Bank of India (SBI) to merge with its five associate banks. SBI is already among the largest an India and a sizeable international player, with the total assets of $400 billion and a network of 16,500+ branches (including over 190 international locations across 36 countries). […]

Indopay and ACI Worldwide team up for international e-commerce platform

PT Indopay Merchant Services, a subsidiary of Indonesia’s banking solutions provider PT Abhimata Persada, has teamed up with ACI Worldwide for the latter’s UP eCommerce Payments solution. Indopay is keen to grow its share of the domestic market and also expand across Asia – and ACI’s platform will underpin the strategy. The Indonesian eCommerce marketplace […]