Singapore’s ADBC signs MoU with Tencent Cloud
New Singapore bank plans cloud boost.
Singapore
OCBC sets new SGD 25bn sustainable finance target
OCBC will focus on industrial and geographical diversification to reach its “25-by-25” target.
OCBC to hire 3,000 this year in full-time, traineeship positions
About 2,100 of the jobs are full-time roles across the bank’s entities.
Transfergo raises $10m, expands into 11 new markets
Remittance firm claims uptake in growth during COVID-19 pandemic.
FX fintech Wallex lands Series A led by Ant Financial-backed VC
The value of the round has not been disclosed.
Deutsche Bank set to launch fourth e-FX hub in Singapore
The hub will be developed and staffed locally.
MAS launches $1.25m fintech challenge to tackle climate change & COVID-19
Up to 12 winners will be selected to receive in prize money.
Singapore develops “fairness metrics” for AI adoption in finance
The metrics will inform credit risk scoring and customer marketing.
BNY Mellon plans Singapore FX engine in partnership with MAS
The announcement is part of the bank’s strategic expansion into the Asia Pacific region.
GoBear lands $17m to accelerate transition into “full-fledged” financial service
The fintech first launched in 2015 as a metasearch engine.
Anquan Capital partners with crypto arm of Germany’s WEG Bank
The partnership includes an undisclosed investment from Anquan.
Singapore fintech Spark Systems lands $10.5m from Citi and HSBC
These heavy weight investors join existing backer Goldman Sachs.
COVID-19: Highlight of the week
We focus on one particular coronavirus news item affecting the fintech industry.
Singapore launches $4.2m grant scheme for its fintechs
Applications for the grant scheme will open on 18 May 2020.
Singapore payments fintech Nium lands investment from Visa
The round is thought to be worth between $75-$100 million.
IHS Markit acquires Singapore-based Catena Technologies
Previously a fintech consultancy, Catena was overhauled in 2014.
Singapore’s GoBear snaps up fintech AsiaKredit
GoBear’s bank partners will be able to tap underserved consumers.
Tradeteq to develop quantum-based credit scoring with Singapore university
The project is backed by the Monetary Authority of Singapore (MAS).
Singapore’s new blockchain industry group BAS launches
The group is the result of a merger between two 2018-founded entities.
Singtel’s NCS and NETS to develop electronic payments platform for central banks
The firms will also create a “next-generation” suite of central banking products.
Big data fintech GeoDB bags £1.37m from Seedrs investors
The UK fintech combines big data, blockchain and crypto into ‘Big – Crypto’.
Visa invests in open banking platform Railsbank
The regtech firm gained extra capital from Japanese VC Global Brain.
Top 10 coronavirus initiatives by governments and regulators
A brief overview of how governments and financial regulators have reacted to coronavirus.
Singapore’s financial regulator unveils $87.8m fintech care package
The package is one of the most fintech-specific aid offerings seen so far.
JP Morgan sets up new FX infrastructure in Singapore
US bank goes live with fourth centre with help from MAS.
MatchMove buys strategic stake in Shopmatic to build SME offering
MatchMove is slowly building up its armoury to morph into a full digital bank.
Singapore’s robo-advisor Smartly shuts, cites “intense” competition
Vietnamese owner VinaCapital Group made the decision to wind business down.
MatchMove applies for one of Singapore’s full digital bank licences
The company has teamed up with three other bidders.
Goldbell Financial Services picks Mambu to power debt investment
Singapore finance provider picks Mambu’s SaaS banking platform.
Wirecard and Singapore’s Grab partner on payments
The partnership will begin in Malaysia, the Philippines and Singapore.
Malaysia’s biggest telco Axiata reveals plans to bag digital banking license
The country’s central bank announced its plans in December to issue up to five licences.
Bank of Singapore appoints new chief data and innovation officer
Celine Le Cotonnec will join the institution in its newly created role.
Standard Chartered snaps up top fintech exec
Kahina van Dyke joins Standard Chartered CCIB from from Ripple.
Standard Chartered sets up Singapore-based venture with Assembly Payments
The new payments venture is designed to help ecommerce merchants.
DBS evacuates 300 employees after one catches coronavirus
Singapore has reported 58 cases of the new virus so far.
DBS launches QR-code based b2b payments
DBS’ QR-code based solution is powered by DBS Rapid and DBS Max.
Know Your Customer and Botsync close first $2.5m on Hong Kong’s AngelHub
The rounds are part of a larger $50 million Series C round by AngelHub.
Standard Chartered pinches new global head of cybersecurity from Singtel
David McLinton also spent time as JP Morgan Chase’s CISO.
Singapore’s digital bank licence race heats up with 21 bidders
Roughly 50 companies are involved in the bidding.
Hong Kong’s sustainable finance start-up MioTech closes Series A funding
The start-up wants to expand its presence in Singapore and Mainland China.
