Asia

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.

Federal Bank opts for Intellect’s digital transaction banking platform

Federal Bank in India has selected Intellect Design Arena’s digital transaction banking (DTB) platform as part of its revamp. The system is powered by an omnichannel corporate banking exchange (CBX) portal with backend processors for collections and receivables, payables, account services and supply chain finance. Intellect says DTB will also augment the front end of […]

ICICI Bank sets the tone for voice-based payments in India

ICICI Bank has unveiled India’s first voice-based international remittance service to enable non-resident Indians (NRIs) to send money to any bank in the country. With the new feature in its Money2India (M2I) app, an NRI customer can make a remittance to existing payees in India with a voice command to Apple’s virtual voice assistant, Siri. […]

Major Indian bank looks for fintech acquihire

A major financial institution in India is looking to make a fintech “acquihire” (an acquisition of a company primarily for the skills and expertise of its staff, rather than for the products or services it supplies).

Mastercard, Bank Asia and a2i team for financial inclusion in Bangladesh

Access to Information (a2i, an innovation lab supported by the Bangladeshi government), Bank Asia and Mastercard have signed a tripartite memorandum of understanding (MoU) to facilitate financial inclusion in Bangladesh by making digital payment services accessible countrywide through the Union Digital Centres (UDCs).

Three reasons Asia is the perfect incubator for fintech innovation

A report released last year by EY and major Singaporean bank DBS declared China the “undoubted centre of global fintech innovation and adoption”. And China isn’t the only Asian country making waves in the fintech sphere. Overall fintech investments in the Asia-Pacific region reached $10.5 billion in 2016 – the highest amount witnessed to date since 2010, according to CB Insights data.

Old world aces new world

With sizeable market shares, China’s mobile payments giants Alipay and WeChat Pay are seeking international expansion. What’s next for the tech giants?

Deutsche Bank unveils first paperless import payment solution in India

Deutsche Bank has launched the “first” paperless import payment solution in India with its TradePay system. TradePay uses the Reserve Bank of India’s (RBI) Import Data Processing and Monitoring System (IDPMS) to verify import payments by checking them against details made available by the client on the system, “eliminating the need for clients to share […]

Standard Chartered gets personalised for investment ideas in Asia

This time it’s personal. Standard Chartered has launched a digital wealth management tool that can customise investment ideas in a lively and rapid manner. Called Personalised Investment Ideas (PII), the idea is to help “priority banking” clients respond faster to market opportunities with automated investment ideas based on considerations such as their risk profile and […]

Fintech funding round-up: 13 October 2017

Mongolia gets a mention in this concise fintech funding round-up. Features OakNorth Bank, AND Global and TransFICC. UK challenger OakNorth Bank has secured £154 million investment as it looks to lend a further £1.5 billion to businesses in the country in 2018, and then attempt to move on globally. The funding came from the Clermont […]

India’s fintech valley gets pally with Mastercard for smart city plan

Mastercard has partnered with the Andhra Pradesh government in India to bring its digital payments into the Fintech Valley Vizag’s smart city plan. Under the agreement, Mastercard will help Andhra Pradesh in its ambitions to be a cashless society and develop the city concept. Mastercard president and CEO Ajay Banga says it can do this […]

Utkarsh Small Finance Bank goes live with Intellect’s core banking system

Utkarsh Small Finance Bank, a microfinance institution in India, has rolled out Intellect Design Arena’s core banking system. The bank received its licence last year, and according to Intellect, one of the key requirements for Utkarsh was to have a joint liability group solution that would enable it to provide group loans to the microfinance […]

Fintechs – friends or foes?

Visa employees have a saying that “cash is our biggest competitor.” Mightier threats, however, are looming.

CFTE Supercharger-s fintech learning in Asia

The Centre for Finance, Technology and Entrepreneurship (CFTE) has teamed up with SuperCharger, a fintech accelerator in Asia with offices in Hong Kong and Malaysia, to help its students learning with CFTE. UK-based CFTE cites SuperCharger’s accelerator programmes – which offer a B2B sales focus, closing 14 commercial proofs of concept (PoCs) in 12 weeks […]

Bank of Baroda teams with Amazon for SME lending

India’s second largest bank, Bank of Baroda, has got itself an “exclusive” micro lending partnership with Amazon. The bank says through this partnership it is running a process for underwriting Amazon sellers “who would traditionally not be able to procure a line at formal financial institutions”. The deal is part of the bank’s ambitions to […]

Google Gets into Digital Payments Fray in India

Google is expected to launch a mobile payments app in India next week. Google Tez, which means “fast” in Hindi will reportedly support Android Pay as well as the government-backed Unified Payments Interface and other consumer payment services including Paytm and MobiKwik.

Symphony Communication Services makes its Asia debut

Hong Kong-headquartered capital markets and investment group CLSA has deployed Symphony Communication Services collaboration platform across its entire business. The roll-out of Symphony to CLSA’s 1,900 employees is its largest deployment to date by an Asia-headquartered firm. CLSA joins a community who connect on Symphony, comprised of over 220,000 corporate users from 190 firms. CLSA […]

Infosys logo

Infosys CEO quits after personal attacks

Infosys’ MD and CEO has resigned, citing a continuous stream of distractions and disruptions, and personal and negative attacks on his performance. In his notice of resignation, Dr Vishal Sikka, complained of “false, baseless, malicious and increasingly personal attacks” from the company’s founders. Sikka’s exit pushed Infosys shares down around 8% – and follows a […]

India Payments Roundup: Paytm, Amazon and Flipkart

The battle for e-commerce and payments domination is on in India. Paytm, an e-payment/e-commerce brand and payments bank, is bringing the QR code scanning habit to the Indian masses, while rival Flipkart has raised $2.5 billion from Japan’s SoftBank and Amazon has launched its digital wallet.

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