Ripple powers LianLian’s payments to China
Hong Kong-based money service will use xCurrent blockchain solution.
Asia Pacific
Standard Chartered signs for Moneythor’s digital banking toolkit
The project is in line with Standard Chartered’s objective to be “the digital bank with a human touch”.
Myanmar Citizens Banks signs for Temenos’ T24 core banking system
The implementation partner is India-based Techmill Technologies.
Top fintech stories this week – 02 February 2018
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
Alibaba acquires 33% stake in Ant Financial affiliate for fintech fuel
Looking to “participate in the future growth” of the fintech sector.
Moven lands investment from SBI, ponders bank acquisition
SBI and Moven to set up a joint venture to bring the latter’s tech to Asia and Asia Pacific.
Alibaba Cloud brings big data programme to Malaysia
To get experts to collaborate and compete in developing tech solutions.
Softbank seeks to steal PayPal’s plunder
A rival digital payments system?
Infographic: the future of identity
Nifty infographic based on the IBM Security Future of Identity Study.
Hackers steal $534m from Coincheck cryptocurrency exchange
But it will compensate more than $423 million to 260,000 users who lost out.
LenddoEFL psychometric scoring solution launches in Vietnam
Entrepreneurial Finance Lab has furthered its reach across Asia.
eCurrency Mint and Rizal to launch digital cash in Philippines
Plan to make it available by Q2 this year.
NTT-AT to distribute Trusona ID tech in Japan
Will offer Trusona’s password-less login solution to its enterprise customers across the nation.
Yusen Logistics favours Fiorano for digital revamp
The integration backbone for all inbound and outbound client traffic in Singapore.
Fintech funding round-up: 23 January 2018
From London to Asia. Stars Anorak Technologies, Funding Societies and Mekar.
Standard Chartered creates fintech investment unit
New adventures beckon as SC Ventures plans to invest in fintechs and other start-ups.
JCB tests multipurpose biometric authentication
in collaboration with Universal Robot and the National Institute of Advanced Industrial Science and Technology.
Union Mobile Financial Technology partners with transaction controls specialist Tranwall
Transaction control technology is headed to card and account holders in China, courtesy of UMF and Tranwall.
TransferTo adds digital wallet to payments network via Cellum partnership
Cellum will offer money transfers via TransferTo’s cross-border mobile payments network.
Schroders first in Singapore to launch asset manager chatbot
Beta version now online operating through Facebook Messenger.
AWS opens second cloud region in China
Amazon Web Services now plans to open its second cloud computing region in China.
Google shows love for AI with new centre in China
Google has unveiled an AI centre in China as it searches out humans with ML talent.
PR Savings Bank in core banking tech revamp with Temenos T24
Philippine Resources Savings Banking Corporation is implementing Temenos’ T24 core banking and analytics solutions.
Cryptocurrency start-up Telcoin courts mobile finance firms
Looking to ride the wave of interest in cryptocurrencies, Telcoin is also hoping to raise funds from an ICO.
Singapore insurtech firm Etiqa nets deals with Ministry of Finance and DBS Bank
First insurer to integrate with MyInfo, a digital data vault launched by the GovTech and the Ministry of Finance.
Payoneer lands funding from China Broadband Capital
Cross-border payments company Payoneer announced today it has received funding from China Broadband Capital (CBC). While the amount of funding was undisclosed, the company specified that this week’s Series E-1 round follows the $220+ million Series E round received last year. This adds to the company’s total funding amount, which previously stood at $270 million.
Concur launches e-receipt solution for WeChat
Business expense management firm Concur has introduced a new receipt solution, integrated with China’s WeChat platform, that makes it easier for businesses and their employees working in China to track expenses and remain compliant, reports David Penn at Finovate (Banking Technology’s sister company). The technology, Concur e-Fapiao (it means “e-receipt”), gives employers real-time access to an employee’s […]
East vs. East: a comparison of regional fintech trends
With our newest conferences – FinovateAsia and FinovateMiddleEast – back-to-back, we wanted to examine unique trends to those regions, reports Julie Muhn at Finovate (Banking Technology’s sister company). Each place has its own distinctive culture, and with that comes not only individual financial needs, but also a particular set of regulatory rules. These factors not only create […]
DBS creates lifestyle branch for tech generation
In a move to attract the tech generation to branches, Singapore’s DBS has launched a “lifestyle space” providing freshly brewed coffee, interactions with humanoid robots and a virtual reality (VR) area for retirement planning.
Maybank brings facial and voice recognition to its Maybank2u app
Malaysia’s largest bank, Maybank, has unveiled its facial and voice recognition authentication for its customers accessing their Maybank accounts using its Maybank2u app.
Jirnexu unleashes insurance marketplace in Malaysia
Southeast Asian fintech start-up Jirnexu has been approved by Bank Negara Malaysia (BNM), the nation’s central bank, to compare, sell, process payments, and issue e-policies for insurance products. Jirnexu says it is the first company in the country permitted to sell select general and life insurance products from multiple providers, and the first to build […]
What WeChat’s domination in China tells us about mobile banking in the coming age of the super app
Through increasing functionality and by consistently pushing boundaries, super apps could have the power to influence, shape and even redefine m-commerce of tomorrow. Tom Wood, co-founder and managing partner of experience design agency, Foolproof, shares his insight on the opportunities that super apps could bring to m-commerce.
Robots have got OCBC’s retail banking backend covered
Hey humans! Feeling down? Well let’s get down some more. OCBC Bank has launched two robots to enhance internal backend processing speeds in its retail banking secured lending (CSL) and finance teams. The robot attached to the CSL team assists with housing loan re-pricing. This includes processing time, which “has been almost entirely reduced” (i.e. […]
Standard Chartered and Axis Bank launch cross-border payments via Ripple
Standard Chartered and Axis Bank have unveiled a real-time cross-border payment service for corporates using Ripple’s distributed ledger technology (DLT) solution. This offering is now commercially available between Standard Chartered (Singapore) and Axis Bank India, and, accessible through Standard Chartered’s corporate digital banking platform, Straight2Bank. Himadri Chatterjee, president, transaction banking, Axis Bank, says by using […]
Three crucial questions for insurance’s digital future
Insurance is an industry at a turning point. Few could have predicted that “innovation” would become one of its watchwords, but as the digital revolution spurred on by insurtech gathers pace fundamental changes are beginning to take hold.
Port Moresby Stock Exchange goes live on Nasdaq trading system
Port Moresby Stock Exchange (POMSoX) has gone live with Nasdaq’s Matching Engine that operates on the Nasdaq Financial Framework platform. The launch of the new trading platform is a result of an upgrade from previous Nasdaq trading technology. The new engine will handle the trading of equities in the Papua New Guinea (PNG) market. POMSoX […]
Singapore regulator calls for more feedback on payments law
The Monetary Authority of Singapore (MAS) has launched a second consultation on its proposed regulatory framework, known as the Payment Services Bill. According to MAS, the Bill will streamline the regulation of services under a single legislation, expand the scope of regulated activities to include virtual currency services and “calibrate regulation according to the risks […]
Fujitsu and Sensory are the face of biometrics for Mizuho
Fujitsu has teamed with Silicon Valley-based Sensory to provide face biometric authentication for Mizuho’s mobile banking. Mizuho is the first customer of the Fujitsu and Sensory partnership and it will be using TrulySecure. This solution’s features include the option to fuse voice and face biometrics recognition together; and it works with Android, iOS, Linux and […]
First blockchain-based bancassurance network launched in Hong Kong
AIA Hong Kong, a subsidiary of pan-Asian life insurance group AIA, has launched a blockchain solution for bancassurance.
China CITIC Bank and Baidu launch direct bank, AiBank
China’s internet giant Baidu and one of the country’s largest lenders, China CITIC Bank, have joined forces to launch a new direct bank, AiBank.
