Singapore and Thailand to link national payment systems in 2021
In Singapore, PayNow monthly transaction values have crossed the $3 billion mark.
Asia Pacific
Fear of enforcement uptick just compliance theatre, says AML panel
“Compliance doesn’t solve financial crime,” says Fenergo’s Rachel Woolley.
Singapore issues digital bank licences to Grab, Ant & Sea
The regulator has issued four licences, rather than five.
Shinhan Bank Vietnam goes live on Finastra risk platforms
Fusion Risk and Fusion Kondor deployed during the pandemic.
Tokyo Stock Exchange CEO steps down after damaging systems failure
Koichiro Miyahara resigns as regulators continue to examine exchange’s closure.
Report: Digital KYB – a springboard to customer onboarding success
FinTech Futures’ latest in depth industry report on KYB, in partnership with DueDil.
Prospective Philippines digital bank Uno picks Mambu
Uno’s parent DigiBankAsia is working with Philippine regulators to obtain a licence.
On-demand payment innovation at the heart of digital “new normal”
The COVID-19 pandemic has delivered industry changes in rapid time.
Ogaki-Kyoritsu Bank selects Moneythor to revamp digital banking
The regional Japanese bank wants a hybrid approach for customers.
Japan’s SMBC invests $30m in OakNorth
The Japanese giant is also deploying OakNorth’s Credit Intelligence software.
Report: Three key strategies for customer experience success
In-depth industry report on customer experience, featuring expert insights from Mettle, HSBC & Northwestern Mutual.
Chinese regulator continues to clamp down on dominant fintech players
The CBIRC’s Liang Tao warned fintech lenders at a conference in Beijing this week.
Banking Technology November 2020 issue out now
Without limits: The Barclays accelerator races ahead
Grab leads $100m investment in Indonesian e-wallet LinkAja
Singaporean fintech begins investment project in Indonesia.
South Korean payments provider Danal to accept crypto
The payments provider will accept digital currencies via ICON’s blockchain ecosystem.
Hong Kong and China pair up on digital currency experiment
The two have joined with Thailand to promote commerce in Southeast Asia.
Owner of Hong Kong robo-advisor Aqumon lands Alibaba-backed $30m
Aqumon offers B2C and B2B solutions.
FCA and PRA fine Goldman Sachs £96.6m for 1MDB scandal
The investigation found that GSI breached a number of FCA and PRA principles and rules.
Line launches messenger-based banking platform in Thailand
Line has developed and operates the service in collaboration with Thai bank Kasikornbank.
Hong Kong challenger WeLab Bank goes live on Temenos Transact
The neobank launched a few months ago.
Silent Eight lands $9m to help firms tackle money laundering
The start-up says it has doubled its valuation in just over a year.
Chinese regulator approves Hong Kong leg of Ant’s $30bn IPO
The company still needs approval from the Hong Kong stock exchange’s listing committee.
Chinese lender Lufax set for US IPO despite Trump’s delisting plans
The IPO could raise between $2 billion and $3 billion.
Global card spend grows 13% in 2019, mostly down to China’s UnionPay
That’s according to a new report by Retail Banking Research (RBR).
Banking Technology October 2020 issue out now
Educate, advocate, invest: It’s not enough for companies to pay lip service.
Sibos 2020: Victoria Harverson, global head of business development at SmartStream Air
She discusses SmartStream’s AI solution for data processing.
Sibos 2020: CBDCs must compensate for Big Tech failures
“Those in the private sector definitely have their own lifecycle,” says PBOC.
Bank of Thailand launches “world’s first” blockchain platform for bond issuance
IBM acted as a technology partner with its IBM Cloud.
Sibos 2020: Industry has widespread “dissatisfaction” with transaction monitoring
Costs, compliance and confusion need to be solved by new technology, says panel.
Japan’s NEC buys Swiss core banking firm Avaloq in $2.2bn deal
Major investor Warburg Pincus currently owns 45% of Avaloq.
Sibos 2020: Chinese central bank processes CBDC worth $162m in 2020
Some 113,300 personal digital wallets have been opened.
Sibos 2020: Banking Circle launches POBO and COBO payments transparency solutions
The solutions are available globally through Swift, Faster Payments, CHAPS, SEPA and local clearing.
Does Europe really need its own Big Tech?
Almost a third of consumers find the idea of banking with a Big Tech appealing.
Tokyo Stock Exchange grinds to a halt in worst outage for 21 years
A hardware issue caused trading to cease for an entire day.
Wirecard operations cease in Singapore, MAS slaps down more charges
Wirecard SG needs to return all customer funds within the next two weeks.
Swift launches project for “brilliantly simple” SME cross-border payments
The messaging and infrastructure network makes next step in new strategy.
Airwallex adds $40m to Series D round, hits $200m raised for 2020
Aussie-founded fintech plans to use cash to expand into new markets.
Bank of Ayudhya goes live on Murex MX.3 technology
Thai bank aims to revamp front, back, and risk technology.
Standard Chartered launches Mox Bank in Hong Kong
The virtual bank uses Thought Machine’s core banking system.
Destination public cloud
It is estimated that global public cloud revenues will grow by about 17% this year.
