Standard Chartered’s SC Ventures launches supply chain finance platform
SC Ventures says TASConnect will unlock “significant value” for organisations.
Asia Pacific
Tinkoff Bank launches Russia’s first fully digital mortgage; plans Philippines expansion
“The refinancing and lending process will be extremely simple and 100% digital,” Tinkoff states.
SME financing platform Funding Societies raises $294m in equity and debt
The start-up has raised $144m in equity, led by SoftBank, and $150m in debt financing.
Al Rajhi Bank Malaysia hires Ikram Khaliq to lead new digital bank offering
ARBM plans to launch its new digital bank this year.
Digital bank Tonik raises $131m, eyes international expansion
Tonik’s Series B equity funding round was led by Japanese banking heavyweight Mizuho Bank.
Challenger bank Mox makes two senior tech hires
Mox has a new CIO and a new chief data, security, and innovation officer (CDSIO).
Asian Development Bank and R3 team for cross-border securities transaction system
The cross-border multi-currency securities settlement system will be based on distributed ledger tech.
Banking Tech Awards 2021 Highly Commended: au Jibun Bank – Best UX/CX in Finance Initiative
The importance of supporting investors along their journey and how au Jibun Bank does that.
Philippines’ UnionBank picks Metaco’s Harmonize to manage digital asset operations
Metaco provides security-critical software and infrastructure for the digital asset ecosystem.
Aladin Bank turns to Google Cloud for Islamic banking tech innovation
Aladin Bank, an Islamic bank in Indonesia, has announced a “strategic collaboration” with Google Cloud.
Al Rajhi Bank Malaysia taps Thought Machine to power new digital bank
ARBM will deploy the Vault core banking solution to deliver Shariah-compliant banking products.
Indonesian fintech start-up Pluang raises $55m in Series B follow-up round
The company has now raised $110 million in total Series B funding.
AI-focused fintech Qraft Technologies secures $146m SoftBank investment
Qraft’s US CEO says investment management is “ripe for disruption” thanks to AI.
KoinWorks raises $108m in Series C to power Indonesia’s SME sector
KoinWorks aims to hire 400 new employees globally.
Swiss digital asset neobank Sygnum raises $90m in Series B round
“The digital asset economy is rapidly crossing the chasm to mainstream adoption,” says CEO.
Taipei Fubon Bank revamps private banking tech with Avaloq
The roll-out will start in Hong Kong and Singapore, followed by the onshore market of Taiwan.
Oracle FS signs new core banking client in Vietnam, Kien Long Bank
Flexcube will help Kien Long Bank to become a “modern and friendly digital bank”.
Bank Indonesia launches real-time payments infrastructure to broaden financial inclusion
The new payments system will form the “backbone” of a broader retail payment system infrastructure.
Vietnamese fintech MoMo raises $200m in Series E round
MoMo says it will use the cash to expand the suite of financial products available on its ‘super-app’.
Russian digital bank Tinkoff taps Finastra for Asian expansion
Finastra’s Fusion Essence Cloud solution will power the bank’s planned subsidiary in the Philippines.
KAF taps Temenos to launch digital lending business in Malaysia
KAF will use Temenos Banking Services for retail loans and Islamic financing.
South African challenger bank Tyme completes $180m Series B with Tencent investment
The investment from Tencent and UK development finance institution CDC brought in an additional $70 million.
Indonesian fintech Flip plots expansion following $48m Series B
Cash will go towards strengthening its Indonesian operations and expanding its workforce.
Diebold Nixdorf tapped by Cambodian retail bank ACLEDA for self-service solutions
Diebold Nixdorf will deploy its services across ACLEDA’s 262 branches.
UK paytech Rapyd acquires Neat for Asian expansion
Neat provides a cross-border trade enabling platform for small businesses and start-ups.
WeLab to launch new digital bank in Indonesia following BJJ acquisition
WeLab has raised $240m to fund the acquisition – “the largest fintech funding in Indonesia in 2021”.
Finastra offloads Fusion Summit treasury business in China, Macau and Hong Kong
The buyer is CloudWing Network Technologies, a subsidiary of Hundsun Technologies.
Shinhan Bank readies stablecoin remittance PoC on Hedera network
This is the latest in a number of distributed ledger innovations by the South Korean bank.
YouTrip plans B2B expansion following $30m Series A
The Singapore-based fintech offers a multi-currency wallet, with a push into the corporate market now planned.
Digital wealth app Endowus secures $27m in latest funding round
The Singapore start-up gains backing from new and existing investors from across Asia.
Resignations and regulatory orders at Mizuho in wake of IT failures
President and group CEO Tatsufumi Sakai and senior executive officer Satoshi Ishii will step down from their roles.
Saigon Commercial Bank to revamp cards offering with BPC
The project is partly driven by predicted strong growth in mobile transactions in Vietnam.
Open Banking Exchange Asia formed to further open banking in APAC region
Open Banking Exchange is teaming up with Brankas to provide expertise and collaboration.
BNPL start-up Pace raises $40m in pan-Asian Series A
The Singapore-based company has plans for international expansion.
Airwallex adds $100m funding with Series E extension
The new capital injection adds to the firm’s $200m Series E funding.
Singapore fintech Sleek raises $14m to fund global expansion
The company’s platform acts an ‘operating system’ for entrepreneurs and small businesses.
Hong Kong-based Qupital raises $150m to boost expansion plans
Partners in Series B include Citi, GBA Homeland and Nordstar.
Singapore and UAE conduct first cross-border digital trade document transfer
Singapore’s TradeTrust enables counterparties and banks to validate documents digitally.
Citi to take $1.5bn charge shuttering South Korean retail banking business
The charge related to the closure will affect the bank’s operations through the rest of 2021 and 2022.
GroverPay plans easy lending for Singapore’s SMEs
New fintech says it can approve loans and onboard users in 24 hours.
