ICYMI fintech funding round-up: Ayoconnect and Tugende
The ICYMI round-up brings to you the latest funding news from around the world, every week.
Asia Pacific
Prudential and Google Cloud team for health and financial inclusion in Asia and Africa
Prudential will leverage Google Cloud for its flagship health and wealth platform, Pulse.
Singaporean fintech start-up JiPay shutters
According to Crunchbase, the company raised $1.3 million in seed funding in March.
Family-focused financial wellness app Fr33m3n gears up for launch
The app will offer financial literacy programmes such as lectures, tutorials, podcasts and webinars.
Taiwan’s Taichung Commercial Bank to acquire American Continental for $82m
The transaction is expected to close in the first quarter of 2023, subject to regulatory approvals.
Korea Credit Data raises $24.7m in Series D extension
Since it was founded in 2016, the firm has raised more than $110 million in total funding.
Indonesian fintech unicorn Xendit sheds 5% of its workforce
Xendit says affected employees will receive “suitable compensation” alongside additional benefits.
Crypto banking firm Juno lands $18m Series A, launches loyalty token
The funding round, led by ParaFi Capital’s Growth Fund, saw participation from high-profile angel investors.
SinoPac modernises retail banking tech front-to-back office with Temenos
SinoPac, one of Taiwan’s largest banks, is implementing Temenos’ digital banking solutions.
RBank picks BPC for paytech revamp and financial inclusion drive
Philippines-based Robinsons Bank (RBank) will implement BPC’s SmartVista payments platform.
Southeast Asian financial services group Fazz bags $100m Series C
The funding will be used towards building its business account and expanding across Southeast Asia.
Standard Chartered trials duplicate financing prevention solution
The Trade Financing Validation Service is powered by fintech MonetaGo’s Secure Financing system.
Blockchain trade finance platform Contour snaps up we.trade assets
The move forms part of Contour’s plans to launch a digital open account trade finance offering.
Singapore’s GXS Bank launches with savings product for the underbanked
GXS wants to address the pain points of the two in five Singapore residents who are currently underbanked.
New digital bank Trust launches in Singapore
Trust Bank’s shareholders have invested $285 million in the new challenger.
ICYMI fintech funding round-up: Banco and Stake
Our weekly fintech round-up for you to get the latest funding news from around the world.
Singapore’s Lightnet secures $50m funding to fuel growth
Lightnet aims to “improve the lives of the unbanked and underbanked populations throughout Asia Pacific”.
Vietnam’s BIDV goes live with trade finance tech by Surecomp
Surecomp’s DOKA and allNETT solutions will support the ongoing growth and digitisation plans at BIDV.
Digital identity firm Chekk hires Jason Lee as CTO
Lee has more than 26 years’ worth of technology experience in fintechs and large corporations.
Japan’s SMBC Group to launch Jenius Bank in the US
Jenius Bank will initially offer personal loans before expanding with savings and checking products.
Taiwan’s SCSB taps Temenos for core banking upgrade
SCSB will adopt Temenos’ core banking, payments and data lake solutions.
Malaysia’s Kenanga partners Ant Group to develop financial services super-app
The app will offer stock trading, investment management, an e-wallet, crypto trading and FX capabilities.
Japan’s Iyo Bank picks DTCC to automate post-trade services
Iyo Bank has tapped DTCC to achieve “no touch” post-trade processing for equities and fixed income transactions.
UnionBank selects Avaloq to power wealth management platform
The Filipino firm will implement the Avaloq Core Platform.
Fintech start-up Pomelo raises $70m in seed financing
Pomelo’s investors include celebrities The Chainsmokers and The Weeknd.
Paytech Nium appoints Ramana Satyavarapu as new CTO
In his new role, Satyavarapu will be responsible for managing Nium’s global engineering and technology strategy.
Bank Islam taps Kestrl to offer financial management tools in Be U app
The firm will incorporate Kestrl’s personal financial management tools into Be U by the end of the year.
Crypto.com gains new licences in South Korea via two acquisitions
The firm has acquired payment service provider PnLink and virtual asset service provider OK-BIT.
Singapore’s UNOAsia raises funds ahead of digital bank full launch
The firm is gearing up for the commercial launch of UNO Digital Bank in the Philippines.
Singapore-based Robocash Group appoints Natalya Ischenko as new CEO
Ischenko will take over from founder Sergey Sedov, who will remain in the position of chairman of the board.
Equity management firm Qapita buys India-based ESOP Direct
Qapita is aiming to boost its presence in India.
Bank Islam Malaysia Berhad launches new banking app, Be U
The fully cloud-native digital banking app aims to broaden financial inclusion in Malaysia.
ING to wind-up retail banking operations in the Philippines by end of year
The firm will leave the retail banking market in the country before the end of 2022.
OneConnect partners Pismo for unified digital banking solution, OneCosmo
Pismo and OneConnect entered into a strategic partnership in April this year.
Philippines’ Atram taps additiv for digital wealth management tech
Atram’s new digital wealth management platform will utilise additiv’s orchestration engine, DFS.
Al Rajhi Bank Malaysia taps Feedzai for risk management platform
Feedzai’s RiskOps platform will help strengthen the security of ARBM’s upcoming digital bank offering.
Morocco’s Attijariwafa Bank partners Thunes for cross-border payments
The partnership will enable “nearly 30 million” Moroccan bank account owners to receive remittances.
Asia primed for embedded finance boom
E-commerce firms can use the embedded finance technology to modernise their financial processes.
Nexo offers to buy crypto platform Vauld following “financial challenges”
The potential acquisition is pending a satisfactory outcome of the initiated due diligence process.
Yoma Bank taps Compass Plus Technologies for time-to-market upgrade
Myanmar’s Yoma Bank has replaced its in-house processing centre with Compass Plus’ TranzAxis.
