OCBC to hire 3,000 this year in full-time, traineeship positions
About 2,100 of the jobs are full-time roles across the bank’s entities.
Asia Pacific
Transfergo raises $10m, expands into 11 new markets
Remittance firm claims uptake in growth during COVID-19 pandemic.
Philippines challenger Tonik raises $21m ahead of 2020 launch
The bank has raised $27m since being founded in 2018.
American Express first foreign credit card player to launch in China
AmEx won initial approval in 2018 for a bank card clearing licence in China.
Canadian and Taiwanese regulators sign fintech sandbox agreement
The regulators will build a “referral mechanism” between their fintech sandboxes.
FX fintech Wallex lands Series A led by Ant Financial-backed VC
The value of the round has not been disclosed.
Deutsche Bank set to launch fourth e-FX hub in Singapore
The hub will be developed and staffed locally.
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.
JCB to deploy FIS Payment One switching and acquiring platform
The payment scheme is planning to enable QR payments for more customers.
Taiwanese challenger Next Bank to launch this year on Temenos
Chunghwa Telecom owns a 41.9% stake in Next Bank.
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.
SoftBank unveils $100m fund for founders of colour
SoftBank’s COO says the fund will help create “a new generation of founders”.
Innovation? It’s all about the data, darling
But we are already drowning in a sea of data.
China’s largest bank rolls out more deposit services with Alipay
Alipay has been collaborating with ICBC since March 2005.
GoBear lands $17m to accelerate transition into “full-fledged” financial service
The fintech first launched in 2015 as a metasearch engine.
India among major markets to see increase in ATM usage over 2019
Research suggests ATMs are still popular tools for financial inclusion.
UBS to set up fintech venture fund to speed up its digitisation
The bank will make investments between $10 million and $20 million.
South Korea’s fintech sandbox lands $110m and creates 380 jobs
Fintechs can be exempt of regulations for up to four years.
Anquan Capital partners with crypto arm of Germany’s WEG Bank
The partnership includes an undisclosed investment from Anquan.
Myanmar’s Wave Money lands $75.3m from Ant Financial
Wave Money has tapped more than 21 million people in Myanmar.
Singapore fintech Spark Systems lands $10.5m from Citi and HSBC
These heavy weight investors join existing backer Goldman Sachs.
COVID-19: Highlight of the week
We focus on one particular coronavirus news item affecting the fintech industry.
WeChat to offer credit scoring to its 600m users
Th Big Tech will attribute “payments points” to determine a “trust” value.
Oracle gains three new Flexcube customers in Nigeria, Thailand, and Laos
Technology vendor also reveals 13 go-lives for Q4 2020.
HSBC launches e-wallet PayMe for teens in Hong Kong
The adult version already has 1.9 million customers across Hong Kong.
Digitalisation a must-have for lending in a post-COVID world
The coronavirus pandemic has affected and disrupted every aspect of financial services.
Deutsche Bank appoints Kamran Khan as head of ESG for Asia Pacific
He also served as head of global investments and operations at the US Millennium Challenge Corporation.
Singapore launches $4.2m grant scheme for its fintechs
Applications for the grant scheme will open on 18 May 2020.
Niche Global picks Volante to underpin European entry
Hong Kong payments firm plans market expansion with Volante.
Aussie fintech Verteva lands $21.4m to digitise home lending market
The start-up is headed up by two former Westpac execs.
Banking Technology May 2020 issue out now
Hope springs eternal: discovering alternative lending in times of crisis.
Partnerships to drive industry forward in post-COVID world
The coronavirus pandemic has caused immediate changes to the financial services industry.
Global fintech sees worst Q1 since 2016 for VC-backed deals
The quarter saw just 404 deals and ended on $6.1 billion.
Thai payments start-up Digio raises $4 million in Series B funding
The round featured Thailand’s interbank payments provider.
UBS vies for Chinese digital bank licence
The rules are designed to ease foreign access to China’s financial market.
Singapore payments fintech Nium lands investment from Visa
The round is thought to be worth between $75-$100 million.
Japan wants to make it easier for banks to buy stakes in fintechs
The move follows the success of fintech financers during the coronavirus pandemic.
Bank of the Philippine Islands deploys Avaloq Banking Suite as SaaS
The new client is Avaloq’s first in the Philippines.
Tencent buys 5% stake in Aussie fintech Afterpay
It puts Afterpay at a market capitalisation of more than AUD 8 billion ($5.1 billion).
