Singapore launches $4.2m grant scheme for its fintechs
Applications for the grant scheme will open on 18 May 2020.
Asia Pacific
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).
IHS Markit acquires Singapore-based Catena Technologies
Previously a fintech consultancy, Catena was overhauled in 2014.
Singapore’s GoBear snaps up fintech AsiaKredit
GoBear’s bank partners will be able to tap underserved consumers.
SoftBank warns of $9.6bn investment losses due to coronavirus
In addition to WeWork, it also blamed the losses outside of the Vision Fund on OneWeb.
Santander finalises £350m deal for majority share of Ebury
The Spanish bank purchased a 50.1% stake in the international payments and FX firm.
HSBC freezes redundancy plans as COVID-19 hits $6bn overhaul
London-headquartered bank releases Q1 earnings with stark warning for Europe.
Deutsche Bank signs 2028 contract extension for Avaloq tech
Swiss vendor will provide BPO services foe Deutsche until 2028.
Cross River Bank raises $100m in Series C funding
The latest round will see Cross River Bank offer tech to venture capital firm in Malaysia.
Tradeteq to develop quantum-based credit scoring with Singapore university
The project is backed by the Monetary Authority of Singapore (MAS).
Webinar: Swift gpi is a chance for payments modernisation
Opportunities beyond meeting the minimum exist for banks embracing gpi.
SoFi acquires Hong Kong stock trading app 8 Securities
“Hong Kong, a financial capital of Asia, is ripe for innovation,” says SoFi’s CEO.
Webinar: Getting reconciliation right in the ‘decade of data’
A blueprint for consolidating, automating and driving efficiency across reconciliation.
World Fintech Report 2020: “Traditional banks are at a critical juncture”
“They must embrace Open X or risk becoming irrelevant,” says John Berry, CEO of Efma.
Singapore’s new blockchain industry group BAS launches
The group is the result of a merger between two 2018-founded entities.
Mizuho Bank launches face ID biometrics for online banking
The Japanese bank has partnered with Google Cloud Japan for the project.
Airwallex raises $160m in Series D funding to fuel global expansion
Payment unicorn plans acquisitions, partner programmes, and more.
Hong Kong challenger ZA Bank picks OneSumX for regulatory reporting
The first virtual bank in Hong Kong selects Wolters Kluwer system.
Singtel’s NCS and NETS to develop electronic payments platform for central banks
The firms will also create a “next-generation” suite of central banking products.
Big data fintech GeoDB bags £1.37m from Seedrs investors
The UK fintech combines big data, blockchain and crypto into ‘Big – Crypto’.
Chinese tech giant Huawei to launch new consumer credit card
Chinese manufacturer borrows a selection of Apple Card features for new product.
Visa invests in open banking platform Railsbank
The regtech firm gained extra capital from Japanese VC Global Brain.
Vietnamese fintech Finhay bags funding from Acorns’ co-founder
Acorns says the fintech is “revolutionising” access to wealth management.
2020 Review: Top 10 funding rounds this quarter
A look back at some of the biggest investments this past quarter.
Top 10 coronavirus initiatives by governments and regulators
A brief overview of how governments and financial regulators have reacted to coronavirus.
Singapore’s financial regulator unveils $87.8m fintech care package
The package is one of the most fintech-specific aid offerings seen so far.
China calls on banks to lend more aggressively to small businesses
Analysts say cheaper loans will help the broader Chinese economy weather the current slowdown.
Japan’s $1tn stimulus offers $18,000 to small businesses
It includes more than JPY 6 trillion for cash pay-outs to households and small businesses.
Visa pours $210m into the coronavirus effort to help SMEs
Visa will split the money between NGOs and investment partners.
Fintech Neat lands $11m to help SMEs trade between Asia-Pacific and Europe
The fintech landed Visa as an investor and new card partner.
