Sweden’s SEB selects Blacksmith KYC to automate corporate client data collection
Blacksmith claims to have specifically tailored the platform for SEB following a year-long pilot project.
Singapore
The latest fintech news, resources and expert analysis in Singapore by the leading intelligence provider for the worldwide fintech community.
Bambu taps WealthKernel to launch “world’s first” SaaS robo-advisor
Bambu says its solution has been designed for financial institutions that cater to mass retail investors.
Regulators of UK, Singapore, Switzerland and Japan launch collaborative effort to explore digital asset use cases
Project Guardian aims to share knowledge about the benefits and risks of asset and fund tokenisation.
Singapore’s YouTrip eyes international expansion following $50m Series B raise
The latest cash injection brings YouTrip’s total funding to date to over $100 million.
MAS orders DBS Bank and Citibank to investigate banking services disruption
The banks were unable to recover their systems within the allotted time following a service outage in Singapore.
Airwallex enters Latin America with MexPago acquisition
Airwallex says the deal is an important part of its broader growth strategy in the Americas.
Southeast Asia’s BigPay taps Thredd to power payment processing
As BigPay expands in Southeast Asia, the firm says it needed a partner with “deep understanding of the region”.
Yemen’s Tadhamon Bank upgrades to latest version of Azentio’s iMAL core banking platform
The bank has been running on iMAL since 2010.
ICYMI fintech funding round-up: Untangled Finance, Kennek and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Coinbase receives payment licence from Monetary Authority of Singapore
The news follows a year after the crypto heavyweight received its In Principle Approval (IPA) from MAS.
Project Mariana successfully completes cross-border settlement of wholesale CBDCs
The project was completed between BIS, Banque de France, MAS and the Swiss National Bank.
AlphaSense lands $150m Series E funding at $2.5bn valuation
The latest fundraise comes months after AlphaSense secured $100m in Series D funding led by Alphabet’s CapitalG.
Standard Chartered strikes corporate multibank connectivity through Starfish Digital partnership
The bank’s new service seeks to benefit its corporate clients’ inter-bank connectivity and cash management processes.
Funding Societies secures $27m debt funding to support SMEs across Southeast Asia
Funding Societies will channel the funding into its financing solutions to support SMEs in its five operating regions.
Singapore’s Grab pulls the plug on investment services citing non-viability
Customers will have to withdraw their money by 13 October, after which the accounts will be permanently closed.
CardsPal founder and CEO Saim Yeong Harng steps down three months after Utu acquisition
Utu acquired the Singapore-based lifestyle app in June following its $33 million Series B.
Standard Chartered Ventures launches new BaaS fintech Audax
Audax has been designed to help banks and financial institutions accelerate their digital transformation.
India’s Samunnati signs for Finbots.AI’s CreditX AI credit modelling solution
The deal marks another step in Finbots.AI’s push to scale across APAC.
MAS appoints Chia Der Jiun as managing director with Ravi Menon set to retire
Chai succeeds Ravi Menon as managing director, who only renewed his term in May.
Sanjay Singh appointed as new CEO of Azentio Software
Singh has spent much of his career at US tech firm Akamai Technologies.
Standard Chartered global head leaves to found fintech start-up
Manohar Chadalavada is leaving the bank to be the co-founder of a fintech start-up currently in stealth.
MAS firms up regulatory framework for stablecoins
Issuers in Singapore will have to fulfil requirements to be recognised and labelled as “MAS-regulated stablecoins”.
Payroll fintech OneBlinc secures $100m credit facility with Clear Haven
The fintech landed $20 million in a Series A funding round in June 2022.
Singapore’s MVGX launches carbon SaaS subsidiary, appoints ex-BSI exec to take the lead
Frank Zhang, “a fintech, ISO standard certification and sustainability veteran”, will lead the new subsidiary.
DBS completes acquisition of Citi’s consumer banking business in Taiwan
DBS has also absorbed close to 3,000 employees from Citi Consumer Taiwan.
Singapore’s Endowus raises $35m as it eyes regional expansion
The round saw participation from existing investors including UBS Next, EDBI and Prosus Ventures.
MAS pledges up to $112m towards tech and innovation in financial sector
The funding comes as part of a renewal of the Financial Sector Technology and Innovation Scheme (FSTI 3.0).
DBS Bank to sell majority stake in AXS to Tower Capital Asia
The bank has struck an agreement this week to sell a 77.8% stake in AXS to the private equity firm.
DBS launches e-CNY merchant collection solution in Mainland China
With the solution, corporate clients of DBS China will be able to collect payments from their customers in e-CNY.
BIS names Maha El Dimachki as new head of Singapore innovation hub
El Dimachki will join BIS from the Financial Conduct Authority (FCA) in the UK.
B2B fintech Aspire reports profitability
Aspire says its results have set “a new industry standard of sustainable growth”.
Thunes closes Series C funding round, secures more than $60m in total
Bessemer Venture Partners and 01Fintech joined UK hedge fund Marshall Wace in providing the cash.
Crypto fintech Oobit names Phillip Lord as president
Lord will be tasked with forging partnerships, business development and executing marketing strategies.
Digital banking group Tyme lands $77.8m in pre-Series C funding
Existing investor Tencent also increased its stake to become Tyme’s third-largest stakeholder.
Singapore’s Whampoa Group selects Bahrain as HQ for new digital bank
Launching end of 2023, the new digital bank aims to support the adoption of digital assets worldwide.
Standard Chartered partners Worldpay from FIS to expand payment collections offering
With the partnership, the bank aims to expand the footprint of its solution across Asia and other markets.
Demystify Podcast: Demystifying BaaS with Kelvin Tan, Standard Chartered Bank
What is needed within a large bank to ensure a BaaS proposition can be conceived, deployed and nurtured?
WhatsApp partners Stripe to enable in-app business payments in Singapore
With the new feature, Singapore customers and businesses can now buy and sell directly in WhatsApp chats.
IFGS 2023: Collaboration key for Singapore’s burgeoning fintech sector
Sopnendu Mohanty, chief fintech officer at MAS, discussed the country’s strategies and successes at IFGS 2023.
Thunes bags $30m from Marshall Wace as part of Series C funding
The funding was disclosed in a recent filing with Singapore’s Accounting and Corporate Regulatory Authority.
