Chinese regulators consider AliPay and WeChat antitrust probe
The People’s Bank of China is serious about curbing the giants’ dominance.
Asia Pacific
Volante lands $35m, its first capital raise in two decades
The firm wants to turbocharge its offering, customer base and geographical presence.
AMTD Group teams with SME partners ahead of Singa Bank’s launch
AMTD is yet to land a licence to launch the bank.
ComplyAdvantage raises $50m in Series C funding
The new capital will be put towards international expansion.
UAE’s remittance fintech Denarii Cash expands beyond Middle East
The new corridors span the Middle East, and into South East Asia and Africa.
WeLab Bank launches in Hong Kong
The challenger is offering users a numberless debit card.
Catering to China’s small-time exporters
Bill Deng, CEO of XTransfer, unpacks how banks have snubbed a large number of long-tail customers.
Thought Machine lands another $42m for Asia-Pacific expansion
It brings the firm’s Series B round to $125 million.
Mastercard extends cross-border services in China with Bank of Shanghai
Businesses can use Mastercard to transfer to “any local bank” in China.
Report: The future of digital wealth management
A new FinTech Futures report examines the future of wealth management in a digital era.
DBS and Infor partner to offer SMEs digital trade financing
The partnership is one of a line of joint projects between Infor and DBS.
Morgan Stanley blocks remote network access for China interns
Its decision to deny remote access to its China-based interns makes it an outlier among its US peers.
Chinese fintech Lufax targets $3bn in US IPO
Sources highlight that political tensions between the US and China could affect its listing plans.
BNP Paribas joins IBM Cloud as European anchor client
French banking giant to become leading user of IBM’s cloud tech.
Singapore API firm Percipient raises $5m
The fintech plans to boost the deployment of its TWINNTM system.
Singapore FinTech Association launches new innovation lab
The Nexia InnoLab will connect start-ups with local businesses.
Third wave of COVID-19 forces Hong Kong banks to close branches
11 lenders will partially or completely shut down operations at some 58 branches.
OCBC Bank connects to Singapore Government’s identity platform
SingPass enables users to connect to a wide range of platforms and government services.
MAS completes multi-currency blockchain testing
The blockchain network is jointly developed with JP Morgan and investment firm Temasek.
China Bohai Bank plans IPO worth $1.7bn
Chinese commercial bank buoyed by good 2019 results.
Taking stock of China’s COVID-19 payments processes
If you think COVID-19 has largely been a boon to real-time payment in China, think again.
Singapore’s ADBC signs MoU with Tencent Cloud
New Singapore bank plans cloud boost.
Banking Technology July/August 2020 issue out now
Unlocking the benefits of open banking.
Alibaba’s Ant plans Hong Kong IPO
“It is looking at selling between 5% and 10% of its shares in an IPO,” according to sources.
Report: A new decade of core banking transformation
A new FinTech Futures report examining the role of core banking in the industry today.
Instapay Technologies partners with Mastercard to support Malaysian migrant workers
Instapay Technologies is looking for 100,000 new users in the first year.
South Korea reports 20m subscriptions to open banking service
Figure represents a quadrupling of registrations since an October 2019 pilot.
MFMi Group picks Mambu to power new suite of Islamic products
The Malaysian firm aims to help underbanked in the wake of COVID-19.
Vietnamese digital bank TNEX to create consumer-merchant ecosystem
“We’ve started a bit of a fintech revolution here,” says MSB’s CDO.
UK opens virtual fintech trade mission to APAC
The fintech deal follows FTA talks between the UK, Australia and New Zealand.
The Philippines launches government-owned OFBank for overseas citizens
Filipinos will be able to sign up to the new service with a selfie.
65% of banks say legacy systems holding back Swift gpi adoption
Volante, HSBC and Deutsche Bank, share their insights on a recent webinar regarding Swift gpi.
Report: Five success factors for an ideal ISO 20022 migration
ISO 20022 represents an opportunity for banks to reinvent the way they operate.
UnionBank to tap rural Philippines with 11,000 remittance counters
70% of Filipino adults are still unbanked.
MoneyGram makes another move into South Korea
The remittance firm wants a “leading” position in South Korea’s P2P remittance market.
Chinese lenders suffer two bank runs in a week
China has relied on these local lenders amid the coronavirus crisis.
OCBC sets new SGD 25bn sustainable finance target
OCBC will focus on industrial and geographical diversification to reach its “25-by-25” target.
Railsbank signs on Hong Kong fintech Statrys
Open banking platform continues expansion in Asia.
Thai paytech Synqa raises $80m in Series C round
Synqa plans to use the cash to expand its services in Asia.
HKEX announces sustainable finance exchange Stage
Hong Kong exchange plans to educate stakeholders on the benefits of ESG.
