FinTech Futures: Top five news stories of the week – 17 May 2024
Our pick of the top fintech news stories this week includes BBVA, Deutsche Bank, Lemonway and more.
MAS
Nuvei lands Singapore MPI licence for APAC expansion
The licencing follows the paytech’s $6.3 billion acquisition by Advent International.
MAS unveils new Cosmic platform to help banks defend against terrorism financing and money laundering
Cosmic was co-developed by MAS and six banks – Citibank, DBS, HSBC, OCBC, UOB, and Standard Chartered.
MAS firms up regulatory framework for stablecoins
Issuers in Singapore will have to fulfil requirements to be recognised and labelled as “MAS-regulated stablecoins”.
Singapore and India link up PayNow and UPI for real-time cross-border payments
The MAS and RBI will use a scalable cloud-based infrastructure to manage future increases in remittance volumes.
Singapore’s central bank reviews BNPL regulation over debt fears
The MAS wants to ensure regulations are “risk-proportionate”.
Singapore’s MAS pours $182m into second fintech fund
Around half of the committed SGD 250m rolled over from the first FSTI scheme.
MAS completes multi-currency blockchain testing
The blockchain network is jointly developed with JP Morgan and investment firm Temasek.
MAS launches $1.25m fintech challenge to tackle climate change & COVID-19
Up to 12 winners will be selected to receive in prize money.
Singapore develops “fairness metrics” for AI adoption in finance
The metrics will inform credit risk scoring and customer marketing.
BNY Mellon plans Singapore FX engine in partnership with MAS
The announcement is part of the bank’s strategic expansion into the Asia Pacific region.
Singapore launches $4.2m grant scheme for its fintechs
Applications for the grant scheme will open on 18 May 2020.
Singapore’s financial regulator unveils $87.8m fintech care package
The package is one of the most fintech-specific aid offerings seen so far.
JP Morgan sets up new FX infrastructure in Singapore
US bank goes live with fourth centre with help from MAS.
Razer Fintech, Grab and Singtel bid for Singapore digital banking licence
There are only five of the new licences up for grabs.
Banks must improve cyber risk culture, says MAS panel
Singaporean regulator’s experts call out bank culture.
Singapore opens applications for new digital bank licences
Applicants must be committed to Singapore’s future.
Instarem seeks banking licence in Singapore
The fintech is looking for a partner bank to do so.
Singapore regulator’s new tech group targets risky business
Monetary Authority of Singapore makes some changes and gets truly focused.
Singapore regulator warns of national cryptocurrency scam
Websites falsely claim that Singapore is adopting a cryptocurrency as its official coin.
Singapore regulator makes payments top Bill-ing
Monetary Authority of Singapore finalises its Payment Services Bill.
Top fintech stories this week – 16 November 2018
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
Canada, UK and Singapore prep for blockchain-powered payments
Central banks and regulator reveal heightened interest and assesses alternative models.
Sandbox Express steams into Singapore’s fintech station
Monetary Authority of Singapore quickly thinks up pre-defined sandbox concept.
Singapore Exchange and regulator in cross-DLT settlement breakthrough
They have developed delivery versus payment capabilities for the settlement of tokenised assets.
Singapore regulator preps $5bn for finance investment
Wants a “stronger platform for growth finance and infrastructure development”.
Mirror, mirror on the wall, is Singapore’s AI fairest of them all?
Regulator wants fairness, ethics, accountability and transparency.
Singapore unveils world’s first unified payment QR code
SGQR will be adopted by 27 payment schemes.
Singapore Exchange and regulator seek cross-DLT settlement
Developing delivery versus payment (DvP) capabilities.
Singapore goes AI: training, incentives and regulation
Banks in Singapore take the lead on artificial intelligence (AI) training.
Singapore to fast track applications for fintech inventions
Approval can now be granted in as quickly as six months.
Standard Chartered hit with $4.8m fine for AML and CFT breaches
Risk management and controls were “unsatisfactory”.
Singapore regulator gives customer onboarding guidance
New guidance on the use of tech solutions for non-face-to-face customer onboarding.
Fintech alliance round-up: 23 November 2017
It’s that time again where alliances are formed and friendships are made in our latest co-operative filled round-up. Featuring the Monetary Authority of Singapore, Abu Dhabi Global Market, Dubai Financial Services Authority, Australian Securities and Investments Commission, and Iran and Malaysia planning to establish banking ties.
Singapore regulator calls for more feedback on payments law
The Monetary Authority of Singapore (MAS) has launched a second consultation on its proposed regulatory framework, known as the Payment Services Bill. According to MAS, the Bill will streamline the regulation of services under a single legislation, expand the scope of regulated activities to include virtual currency services and “calibrate regulation according to the risks […]
Payments round-up: 20 November 2017
It pays to pay attention to the pacey payments precinct. Our latest round-up comprises Glint’s golden launch, BillPro’s licence and QR codes in Singapore. Glint, an electronic payment system that enables gold to be used as a currency, has launched its account and app based technology in the UK. Jason Cozens, CEO, Glint, says: “Everyone […]
Singapore and Thailand mull digital payments alliance
The Monetary Authority of Singapore (MAS) and the Bank of Thailand are in discussions about connecting their national digital payment systems as officials step up efforts to curb the use of cash, according to Bloomberg. The link would bring together Southeast Asia’s first national digital payment platforms, Singapore’s PayNow and Thailand’s PromptPay, says Naphongthawat Phothikit, […]
Singapore sets Phase 2 to stun for blockchain inter-bank payments
The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) say that the consortium which they are leading has developed software prototypes for improved payments on blockchain. The prototypes included three different models for decentralised inter-bank payments and settlements with liquidity savings mechanisms. The project, conducted together with 11 financial institutions […]
The rise of regtech down under
Could Australia give the UK a run for its money? Wayne Johnson, co-founder and CEO of Encompass Corporation, explores.
Fintech alliance round-up: 15 September 2017
The power of love, a force from above, cleaning my soul – flame on burn desire, love with tongues of fire, purge the soul, make fintech alliances your goal. Our latest cuddly round-up features the Securities Commission Malaysia, Dubai Financial Services Authority, Monetary Authority of Singapore, Taiwan Stock Exchange and Nasdaq. The Securities Commission Malaysia […]
