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2088

How banks in Singapore are supporting entrepreneurs and SMEs

By Yon Heong Tung for e27

As a leading financial hub in Asia, it is no surprise that Singapore is experiencing a surge in innovations in the financial sphere. Coupled with several doom and gloom reports about the republic’s sluggish economic growth, the time to invigorate businesses comes at a very critical juncture. (more…)

Banks, Singapore, SME

November 28, 2016

4130

Which Are the Top 3 Hottest FinTech Hubs Worldwide?

By Elena Mesropyan for LTP

While we have been brushing through the world’s hottest FinTech hubs, we haven’t really looked at them in a comparative manner. Meanwhile, every hub is unique and carries hallmarks of its history of growth and development affected by distinctive forces. Those forces shape unique strengths and weaknesses and determine the course of future development and types of innovations that will be bred in a particular hub. (more…)

Fintech news, Government activities, Hong Kong, Hotnews, Marketing Report, Singapore

November 26, 2016

1411

Blockchain Holds Strong as Fintech Venture Funding Dips In Q3; Rebound Expected

By Elliot Maras for CryptocoinsNews

Blockchain technology continues to command a fair share of venture funding for fintech, one of the hottest venture capital (VC) targets worldwide. While the number of deals and the total value of fintech VC investment ebbed in Q3 2016, activity is expected to rebound in the fourth quarter and in 2017, according to a global analysis of venture fintech funding by KPMG and CB Insights. (more…)

Blockchain, Deals, Fintech news, Global trends, InspirAsia, Singapore

November 21, 2016

1261

Singapore become worst performer in Asia

By StatesTimesReview

All Asian countries posted their latest GDP figures suggesting a gold mine in the region with the exception of Singapore, who posted a -4.1% GDP in its latest quarterly projection. (more…)

Global trends, Government activities, InspirAsia, Singapore

November 20, 2016

1755

Singapore is Shaping Up to Become the Blockchain Center of the World

By Elena Mesropyan for LTP

Singapore is one of the gems of the global financial services industry ecosystem with ~200 banks with total assets of $2 trillion having operational headquarters in Singapore. Global financial institutions like Mastercard, UBS, DBS Bank,OCBC, Wells Fargo and Citigroup are launching their innovation labs and accelerators in Singapore along with significant investments in the ecosystem. (more…)

Blockchain, Fintech news, Government activities, Singapore

November 19, 2016

1284

FlexM raises US$886K to help the unbanked get paid and remit electronically

By Yon Heong Tung for e27

Its virtual wallet allows users to store up to four virtual pre-paid Mastercards (more…)

eWallets, Fintech news, Mobile payments/banking, Remittances, Singapore

November 17, 2016

1119

Christmas comes early as MAS bears gifts on innovation sleigh

By Jamie Lee The Business Times

SINGAPORE will close out the year by rolling out a slew of experiments and plans to boost the efficiency of financial transactions through technology, including the use of digital currency, as the Monetary Authority of Singapore (MAS) makes good on its ambition to build a smart financial centre. (more…)

Banks, Blockchain, Fintech news, Government activities, Singapore

November 17, 2016

1405

Singapore sees Brexit as chance to recruit London’s FinTech talent

By The Business Times

[SINGAPORE] Britain leaving the European Union is opening up an opportunity for Singapore to recruit talent for its ambitious plans to become a leading financial technology hub, said the chief FinTech officer of the city-state’s central bank. (more…)

About, Government activities, news, Singapore

November 16, 2016

1397

Launch of the Latest Security Report on Bank Apps in APAC at Singapore FinTech Festival

By LTP

The rapid digitization of consumers and enterprises will increase the cost of data breaches to USD 2.1 trillion globally by 2019 from USD 500 billion in 2015 – affecting mainly large banks, retailers and federal agencies as per Forbes Inc. One of the recent cyberattacks that happened at one of Australia’s largest banks in 2016 was done by a malware attack using an Android mobile application. The virus presented a fake version of the login screen and intercepted the username or account number and password. The sophistication of this malware enabled it to intercept the two-factor authentication (learn more here) code sent by banks. (more…)

Fintech news, Marketing Report, Mobile payments/banking, Mobile-first banks, Security, Singapore

November 16, 2016

1395

Trading simulator TradeHero gets acquired by competitor Ayondo

By  for TechInAsia

TradeHero has found a hero of its own. The Singapore-based trading simulator startup has been acquired by Germany-headquartered Ayondo, a group that “invests in new technology and high-growth business models” in the banking sector. The group offers similar services to TradeHero. (more…)

Deals, Financial Markets / Trading, Fintech news, Singapore

November 15, 2016

1265

Singapore’s central bank has backed its first fintech startup

By  for TechInAsia

Singaporean fintech startup SoCash is the first fintech startup to receive backing from the Monetary Authority of Singapore, it announced today. (more…)

Deals, Fintech news, Government activities, Singapore, SME

November 15, 2016

1970

Hyperledger, smart contracts and private blockchains are a key focus: IBM

By Shiwen Yap for DealStreetAsia

The rise of blockchain has coincided with the growth of the a growing number of financial service majors entering this space, with technology corporations like IBM leveraging on this to growth their expertise and collaborate with them to explore the full potential of the blockchain. (more…)

About, Blockchain, InspirAsia, Interviews, Singapore

November 15, 2016

1777

How Singapore and HK are accelerating the growth of their fintech ecosystems

By Yon Heong Tung for e27

As two countries with high stature in the global financial sector, Singapore and Hong Kong are equally renowned for pushing the envelope of financial technology (though not in equal measure). (more…)

About, Fintech news, Government activities, Hong Kong, Singapore

November 14, 2016

1636

Singapore p2p lending platform MoolahSense gets full CMS licence from MAS

By Yon Heong Tung for e27

Singapore-based peer-to-peer (p2p) lending platform MoolahSense has announced today it has been awarded a full Capital Markets Services (CMS) licence from the Monetary Authority of Singapore (MAS). (more…)

Fintech news, Government activities, p2p-payments, Singapore

November 11, 2016

1221

Singapore’s central bank just released 12 APIs. And there’s more to come.

By  for TechInAsia

The Monetary Authority of Singapore (MAS) yesterday released 12 APIs on its website. The datasets from MAS’ Monthly Statistical Bulletin are available to developers who work on relevant apps and services. (more…)

Fintech news, Government activities, Singapore

November 11, 2016

1092

MAS reviewing venture capital regime to anchor more funds in Singapore

By Siow Li Sen for The Business Times

THE Monetary Authority of Singapore is reviewing its regulatory regime for venture capital (VC) managers to get more of them in Singapore as part of the nationwide innovation drive.

(more…)

About, Government activities, Singapore

November 10, 2016

1959

Online remittance startup Toast raises $1.5m to be a bank for migrant workers

By  for TechInAsia

Online remittance startup Toast had a goal: it wanted to help migrant workers in Asia send money back home. This way, they wouldn’t have to deal with exorbitant remittance fees, queues at money transfer operator outlets, and long transfer times. (more…)

Deals, Fintech news, Hong Kong, Mobile-first banks, Remittances, Singapore

November 10, 2016

1117

A simulator for managing consumer lending portfolios just raised $750k

By  for TechInAsia

How do you learn to fly a plane without a few hundred crashes? A good start: get in a flight simulator and crash to your heart’s content. Conversely, how do you learn to manage consumer loans without a few hundred bank account crashes? Well, it turns out there’s a simulator for that too. (more…)

Deals, Fintech news, p2p/online lending, Singapore

November 9, 2016

1070

R3 partners Singapore’s MAS for blockchain lab

By Finextra

Distributed ledger technology consortium R3 has teamed up with the Monetary Authority of Singapore (MAS) to open a centre of excellence on the island. (more…)

Blockchain, Fintech news, Singapore

November 9, 2016

1845

Hong Kong’s welcome mat to fintech start-ups looks worn

By  for Financial Times

Some months ago, when Joe Tsai of Alibaba addressed a seminar in Hong Kong on his firm’s financial strategy, the first hand that shot up when he invited questions belonged to a Hong Kong insurance regulator. “You say you are interested in internet insurance,” the bureaucrat said. “I want to make sure when you come to Hong Kong, you get a proper licence.” (more…)

About, Fintech news, Government activities, Hong Kong, Singapore

November 9, 2016

1412

Standard Chartered and IBM back Byte Academy’s Singapore fintech school

By Finextra

Standard Chartered Bank, IBM, Insead, Thomson Reuters and Microsoft are backing a fintech school at New York-based Byte Academy’s first international venture, in Singapore. (more…)

Fintech news, Singapore

November 7, 2016

2122

BNY Mellon to open eighth innovation centre in Singapore

By Finextra

BNY Mellon, a global leader in investment management and investment services, today announced its newest Global Innovation Center will open in Singapore on 17 November 2016. (more…)

Banks, Fintech news, Singapore

November 7, 2016

1293

Singapore fintech snags top Indian bank as client

By Jamie Lee for Business Times

A HOMEGROWN fintech has snagged India’s largest bank has its client, using technology to create spending analyser tools for card customers at the State Bank of India (SBI). (more…)

Banks, Deals, Fintech news, India, Singapore

November 7, 2016

1870

Another Singapore crowdfunding startup gets green light: Funding Societies gets provisional CMS license

By Kevin McSpadden for e27

About four months after Funding Societies temporarily halted its crowdfunding loan terms in order to ensure it met regulations set by the Monetary Authority of Singapore (MAS), the Singaporean startup announced today it has received a provisional Capital Markets Services (CMS) license from the nation’s central bank. (more…)

Crowdfunding/investing, Deals, Fintech news, Malaysia, p2p/online lending, Singapore, SME

November 7, 2016

1922

First Cross-Border Rewards Platform UTU Launches, Aims to Reimagine the Loyalty Ecosystem

By LTP

UTU empowers shoppers to earn, redeem and convert rewards points through smartphones, in real time, at any UTU merchant outlet worldwide.

UTU drives users, payment card schemes and card issuers to increase tourist and local spending at acquirers’ merchants. (more…)

Fintech news, InspirAsia, Singapore, Thailand

November 6, 2016

1056

Singapore’s equity crowdfunding platform Fundnel clears major MAS regulatory hurdle

By Kevin McSpadden for e27

Fundnel, a Singaporean equity crowdfunding platform, announced today it has received a provisional Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS) — clearing a major regulatory hurdle within the industry. (more…)

Crowdfunding/investing, Fintech news, Singapore

November 4, 2016

1370

Singaporean startup FinGo taps eWise for aggregation tech

By Finextra

FinGo Ventures has today announced a partnership with account aggregation specialists eWise, ahead of the launch of the mobile payments and bank account aggregation app, FinGo. (more…)

Fintech news, Mobile payments/banking, Singapore

November 1, 2016

1443

OCBC enables cash transfers via Siri and iMessage

By Finextra

OCBC Bank claims to be the first bank in Asia to enable voice transactions via Apple’s virtual assistant Siri and in-app with iMessage.

The Siri and iMessage services for OCBC’s Pay Anyone P2P mobile app are available to customers using iPhone devices running the iOS10 software.

Banks, Fintech news, InspirAsia, p2p-payments, Singapore

October 28, 2016

1088

Premier Tax Free taps Wirecard for emerging payments

By Finextra

For merchants, the integration of value added services including those that are ‘tax free’ and alternative payment procedures at the Point of Sale (e.g. Alipay, WeChat) is becoming increasingly important. (more…)

Fintech news, POS/mPOS and online acquiring, Singapore

October 21, 2016

1089

Kashmi launches mobile bank to counter ‘floundering’ attempts by financial firms to attract millennials and go digital

By  for TheDrum

Kashmi, a social payments app based in Singapore, has expanded its remit by launching a ‘360 degree digital’ banking service, aimed at younger people in south-east Asia. (more…)

Fintech news, InspirAsia, Mobile-first banks, Singapore

October 20, 2016