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.
Asia Pacific
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.
Bain Capital taps Chekk for KYB and KYC solutions
Chekk says its SaaS solutions “remove the pain and costs” from interactions between companies and customers.
Singapore’s Funding Societies acquires paytech CardUp
Funding Societies says that all of CardUp’s employees across Asia will be retained.
UNO Digital Bank taps Businessnext to boost customer experience
Businessnext’s automated AI solutions will support the bank’s customer-facing managers.
Vietnamese fintech Finhay raises $25m in Series B round
Finhay says it will use the money to scale its business and recruit new talent.
Indonesian paytech Flip bags $55m in second Series B round
The new funding brings Flip’s total Series B round to over $100 million.
Razer Fintech acquires Indonesian paytech E2Pay in a bid to expand
With this acquisition, Razer Fintech says it marks its further expansion into Indonesia.
HSBC-backed trade platform Serai shuts down
Serai was on a mission “to simplify global trade” by providing supply chain solutions to brands and manufacturers.
Money 20/20 Europe: How is the rise of fintech transforming the next generation of banking?
Kahina Van Dyke believes the biggest shift in legacy financial services is learning to unlock human potential.
Indonesian crypto investment platform Pintu lands $113m Series B funding
Intudo Ventures, Lightspeed, Northstar Group and Pantera Capital participated in the round.
Singapore’s Anext launches as digital wholesale bank
The soft launch comes after the firm received approval from MAS to commence business.
KAF Investment Bank appoints Rafiza Ghazali to lead its upcoming digital bank
Ghazali is currently group CEO of Cradle Fund and has previously worked at RHB Investment Bank.
ICYMI fintech funding round-up: Tranch, Quantifeed, Chekk & Crowd Data Systems
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Babel Finance bags $80m Series B at $2bn valuation
The firm says it limits business to Bitcoin, Ethereum and stablecoins, and serves around 500 “select clientele”.
