Is the future of banking not open but closed?
Europe and USA have to create their own ecosystems to compete with the East.
Asia Pacific
China’s Ant Financial buys small stake in Swedish unicorn Klarna
Klarna is already embedded into Alibaba’s AliExpress.
Vietnamese bank MSB picks Mambu for digital transformation
Mambu aims to make MSB the first cloud-native bank in Vietnam.
PPRO gives Europe’s merchants access to Chinese shoppers with UnionPay
The Chinese ecommerce market is currently valued at more than $1 trillion.
Bank of Japan governor calls for digital currency caution
Masayoshi Amamiya warns central banks not to “jump immediately.”
New Zealand’s central bank launches new market infrastructure with Italy’s Sia
“The extent of change is significant,” says RBNZ, which is deploying to 57 banks.
How Ripple and Azimo are using XRP for remittances in the Philippines
Azimo and Ripple speak to FinTech Futures about their new partnership.
Tonik digital bank raises $6m as it gears up for launch
It’s set to be the first of its kind in the country.
Malaysia’s biggest telco Axiata reveals plans to bag digital banking license
The country’s central bank announced its plans in December to issue up to five licences.
The impact of COVID-19 on the Chinese market
The effects of the coronavirus on the local fintech market isn’t all negative.
SoftBank to invest $100m in UK-based AI start-up Behavox
Behavox’s investment would be the fifth Vision Fund capital injection for a UK firm.
Google equips its cloud offering with two acquisitions
The Big Tech is gearing up to take on Amazon and Microsoft’s rival cloud products.
Bank of Singapore appoints new chief data and innovation officer
Celine Le Cotonnec will join the institution in its newly created role.
Standard Chartered commits $75bn to sustainable development
Infrastructure projects to get $40bn, whilst renewable energy and clean tech to get $35bn.
Inaccuracies of facial recognition: security, prejudice, pollution and fashion
The issue of accuracy is one which is often cited but rarely explained.
Standard Chartered snaps up top fintech exec
Kahina van Dyke joins Standard Chartered CCIB from from Ripple.
HSBC to cut 35,000 jobs in a major restructure to boost returns
Job loss figure more than triple the number expected to be cut by the bank.
Report: The digital drive to replace the passport in financial services
FinTech Futures publishes its latest industry report, on digital identity and fraud.
Standard Chartered sets up Singapore-based venture with Assembly Payments
The new payments venture is designed to help ecommerce merchants.
Video: Top fintech stories this week – 14 February 2020
FinTech Future’s weekly news round-up.
DBS evacuates 300 employees after one catches coronavirus
Singapore has reported 58 cases of the new virus so far.
Wells Fargo cuts 700 jobs, overhauls exec suite and invests $5m in crypto start-up
The bank is splitting its three-part structure into five.
Mastercard granted entry to Chinese payments market
People’s Bank of China gives Mastercard a green light.
Korean banks have growing concerns over Starbucks prepaid card
Starbucks said its prepaid cards had $1.56 billion in stored value at the end of 2019.
Video: Top fintech stories this week – 03 February 2020
FinTech Future’s weekly news round-up.
Rewire CEO: We want to be the financial marketplace for migrants
Traditionally, migrants have struggled to find a one stop shop for their finances.
Deutsche Bank and SimCorp extend Dimension partnership in Asia Pacific
14-year fund services collaboration extended.
Appy days for Jibun Bank
Jibun Bank won several awards for its uniqueness.
Hong Kong’s virtual challenger Za Bank selects Fiserv for card payments
Fiserv’s VisionPlus will power Za Bank’s entire card payment lifecycle.
Grab buys Singapore robo-advisory start-up Bento
Bento will be rebranded as GrabInvest.
ADB creates $50m venture fund for start-ups driving sustainability
The fund will support start-ups helping Asia and the Pacific reach their sustainable goals.
Nasdaq names HKEX’s Roland Chai as its new CRO
Chai was previously head of post-trade at HKEX.
CIMB Bank Philippines deploys Jumio authentication tech
Its mobile app will integrate “AI-driven” Jumio identity verification technology for its KYC.
BIS fintech report: More harmonised standards and less TPP reliance
BIS has published a cross-country review on the fintech regulatory landscape.
SBI Holdings invests $20m in core banking API firm OpenLegacy
SBI keen to push API integration to Japanese banks.
Guotai Junan International updates derivatives tech with Finastra
Hong Kong firm goes live on Fusion Sophis.
Industry undecided on UK’s fintech funding success
The industry is undecided over roughly $1 billion dollars.
Sumitomo Mitsui Banking Corporation revamps FX with Kx Systems
Japanese bank taps Kx to power its e-FX operations.
UK court orders Bitfinex to freeze $860,000 in bitcoin
Chainalysis traced the funds to a ransomware payment through Bitfinex’s platform.
UK challenger Monzo in talks with SoftBank for £100m fundraising
Monzo’s co-founder met up with the Japanese investor in Mayfair this month.
