CIBC automates reg reporting in UK and APAC with Wolters Kluwer’s OneSumX
Canada’s banking group CIBC is implementing Wolters Kluwer’s OneSumX for regulatory reporting across its locations in the UK, Japan, Australia, Hong Kong and Singapore.
Canada’s banking group CIBC is implementing Wolters Kluwer’s OneSumX for regulatory reporting across its locations in the UK, Japan, Australia, Hong Kong and Singapore.
Input Output Hong Kong (IOHK), a blockchain architecture and development start-up, has built a proof-of-stake protocol as it seeks to create a “better” Bitcoin, aka Bitcoin 2.0. The protocol, called “Ouroboros”, is a consensus algorithm designed to be a foundation for blockchains that “improve” user governance, system maintenance, transaction processing speeds and blockchain scalability. IOHK […]
Citi’s institutional e-banking platform, CitiDirect BE, will now use MobilePASS which lets corporate users replace their physical login tokens with their personal mobile devices for authentication.
Autoriti Monetari Brunei Darussalam (AMBD), the central bank of Brunei, has partnered with regulatory fintech vendor, Vizor Software. AMBD will use Vizor’s solution to collect financial data from external entities via a single portal, to generate reports and insights. AMBD says this is a key step to building a sound and dynamic financial system. The […]
Citi’s global perspectives and solutions team has issued a 100-page report on digital disruption in the fintech industry. It has analysed venture capital (VC) investments in the fintech industry between 2010 and 2016, as well as the emerging technologies across the globe.
Siam Commercial Bank (SCB) intends to invest about THB 40 billion ($1.1 billion) in creating, acquiring and developing its technology infrastructure over the next three years. The Thailand-based bank says this investment will help it provide products and services that are better suited to serving its younger and more affluent clients. SCB’s innovation-focused subsidiary, Digital […]
POSB, one of Singapore’s oldest banks and part of the DBS Banking Group, has launched an online virtual assistant. It is powered by the KAI conversational bot/AI platform from a New York-based fintech start-up, Kasisto.
Hong Kong-based tech accelerator Blueprint is calling out to the region and the world for start-up applicants.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Philippines-based Ayannah, a provider of financial services to migrants and the unbanked, was the overall start-up winner in the Next Money Fintech Finals 2017 in Hong Kong.
Park and ride? A visit to the Hong Kong Science and Technology Parks Corporation (HKSTP) and an opportunity for fintechs to ride the start-up wave.
Hong Kong is telling its citizens and the world that fintech start-ups are welcome to do business and capitalise on the nation’s entrepreneurial spirit.
Fintech zeitgeist! Welcome to the first in a new series of brief reports. Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. Anything goes, so here goes. Rome versus Carthage. Britain versus France. History shows […]
HSBC will unveil a new payment app in Hong Kong in early 2017 aimed at millennials and offering a social aspect in addition to just payments. Called PayMe, it is “available to everyone in Hong Kong”, regardless which local bank the customer uses. However, the small print says it is only eligible to users with […]
The financial services authority (Otoritas Jasa Keuangan or OJK) of Indonesia has issued a new law affecting all fintech P2P lending firms in the country. The new law, applicable to all such business units operating in or intending to set-up in Indonesia, is aimed at protecting the consumer. The new law stipulates that such business […]
The Japanese government is sending 55 SMEs and start-ups abroad as part of its new innovation programme. Called the Hiyaku Next Enterprise programme, it is part of the Silicon Valley-Japan Bridge Project, set up by the Ministry of Economy, Trade and Industry (METI). That project was announced by Prime Minister Shinzo Abe in April 2015 […]
The Shanghai Prepaid Card Association is warning consumers about buying prepaid cards from certain merchants because of “malpractice in managing their prepaid card schemes”, reports Paybefore. According to an announcement on Shanghai’s municipal Website, the notice includes a blacklist of 20 companies in Shanghai for committing various infractions. The association is urging consumers to quickly […]
Look back at some of the top-read feature articles on all matters fintech published by Banking Technology in 2016.
Microsoft has teamed with AMIS and the Industrial Technology Research Institute of Taiwan (ITRI) to form Asia’s “first” consortium blockchain network on Azure. They will use AMIS’s blockchain solutions with Azure as the cloud platform – “the only platform with BaaS” (Banking-as-a-Service). Azure will provide public, private and hybrid cloud models; and business and technical […]
Tokyo-based IT provider NEC Corporation is conducting trials for cashless payment services using NEC facial recognition technology in co-operation with Sumitomo Mitsui Financial Group (SMFG), Sumitomo Mitsui Banking Corporation (SMBC) and Sumitomo Mitsui Card. The SMBC trials will continue to 30 January 2017, involving around 1,000 employees at the dining facilities of SMBC’s head office. […]
Tokyo Stock Exchange (TSE), Osaka Exchange OSE) and Japan Securities Clearing Corporation (JSCC) will form a blockchain consortium of Japanese financial institutions. All three are part of Japan Exchange Group (JPX) and will continue to conduct proof-of-concept (PoC) testing based on past findings and discuss the possibility of applying blockchain or distributed ledger technology (DLT) […]
Bank of Singapore has completed the acquisition of the wealth and investment management business of Barclays in Hong Kong and Singapore. The combined entity has more than $75 billion of assets under management (AUM) and nearly 400 specialist bankers.
In her new column for Banking Technology, Devie Mohan, a fintech market strategist, looks at how Singapore has created a fintech ecosystem that is a major threat to the ones in London and Berlin.
Japan’s Mizuho Bank is going to move to a new core banking platform in early 2017, Banking Technology understands. The cost of the project is believed to be JPY 300 billion ($2.8 billion).
IBM has unveiled a blockchain-powered Know Your Customer (KYC) project with Singapore start-up KYCK! to help financial services providers onboard customers quicker and cheaper. Using the open source Hyperledger Project Fabric, IBM says immutability, traceability and privacy of the information is provided on a permissioned distributed ledger which is “critical” in a highly regulated environment. […]
AmBank will be launching “a new phase of mobile banking very soon”, according to the bank’s new group CEO, Dato’ Sulaiman Mohd Tahir. The solution is provided by Backbase.
OCBC says it is the first bank in Southeast Asia to use blockchain for local and cross-border interbank fund transfers. A successful pilot payment transaction was carried out between the bank and its subsidiaries, OCBC Malaysia and Bank of Singapore, using a payment blockchain solution designed by OCBC and local payments firm BCS Information Systems […]
V-Key, a Singapore-based digital security firm, and Ant Financial have teamed up for mobile payments. Under the partnership, V-Key will provide its virtual software solution, V-OS, for Ant Financial to help secure transactions on AliExpress, one of Alibaba Group’s retail ecommerce platforms. (Ant Financial is an affiliate company of Alibaba Group). V-Key will also provide […]
DBS has launched its Singapore innovation lab – DBS Asia X (or DAX) – as it looks to speed up change in its organisation. Neal Cross, chief innovation officer at DBS Bank, says the bank is “not known for taking huge risks or making massive pivots” but now it wants to “inculcate start-up mindsets”. DAX […]
Australia and New Zealand-based banking group, ANZ, has launched an innovation lab, called ANZ BlueSpace, in Singapore as it looks to work with fintech participants from industry, academia and government. ANZ will tap into Singapore’s “thriving fintech community” and develop capabilities for its institutional customers. David Green, ANZ CEO Singapore and head of South East […]
South Korea’s Shinhan Bank is launching a Bitcoin remittance service between Korea and China, with Hong Kong as an intermediary. The service will be available in December.
Eight start-ups and scale-ups in wealth management, regtech, artificial intelligence (AI), payments, big data, blockchain and cybersecurity are to take part in SuperCharger FinTech Accelerator 2.0.
Byte Academy has unveiled its first international campus with programmes in fintech, data science and Python full-stack development. The new campus is based in Singapore, supported by Standard Chartered Bank, IBM, Thomson Reuters, Microsoft and the Insead business school.
Kasikornbank (Kbank), one of the largest banks in Thailand, is exploring blockchain with IBM, “to save costs and speed up transactions”, the two companies say. The services will be launched in H1 2017, to certify the letters of guarantee (LCs).
Philippines-based BDO Unibank has signed a contract with its long-standing tech provider Fiserv for managed services support of the bank’s IT initiatives.
The name may not be catchy but “The Japan Bank Consortium to Centrally Provide Domestic and Cross-border Payments” has officially launched with 42 member banks. As Banking Technology reported in August, SBI Ripple Asia, a joint venture between distributed ledger tech provider Ripple and SBI Holdings, announced that a Japanese consortium of 15 banks in […]
OCBC has become the first bank in Asia Pacific to let customers send cash through Siri. Users can send money with a voice command via Siri, then use the OCBC Pay Anyone mobile e-payment service. It also offers Apple’s instant messaging service – iMessage. No need to stop texting, payments can be made without leaving […]
Algebra, Asia’s “first Shariah-compliant robo-advisor”, will be launched this December by Malaysia-based Farringdon Group Private Wealth Managers. It will be open to investors from across the globe, with a minimum investment of $200 per month. Funds will follow basic Islamic principles. For example, no stocks may derive income from gambling, alcohol, tobacco, pork products, adult […]
The Monetary Authority of Singapore (MAS) and the Korean Financial Services Commission (KFSC) have signed an agreement to foster more co-operation in the fintech space. Under the agreement, MAS and KFSC will explore potential joint innovation projects on technologies such as big data and mobile payments. MAS and KFSC will also discuss issues of common […]
Google has launched its Android Pay service in Hong Kong with support for MasterCard and Visa cards. It works with cards from BEA, DBS, Dah Sing Bank, Hang Seng Bank, HSBC and Standard Chartered Bank in Hong Kong. Users can add multiple cards and Google says there’s no limit to how many can be added. […]