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Life insurance industry sees 20% rise in new business in H1

THE life insurance industry posted a robust performance in the first half of this year, boosted by strong sales of investment-linked plans and a positive attitude towards protection and retirement needs. Weighted new business premiums jumped 20 per cent to S$2.02 billion from the same period in 2017, according to a half-yearly review by the Life Insurance Association Singapore (LIA) out on Monday. There was a slight shift of consumers' interest...


PayNow Corporate launched today

THE NEW PayNow Corporate e-payment service, launched on Monday morning, allows businesses and the Singapore government to instantly make and receive payments by using their respective Unique Entity Numbers. It is an extension of peer-to-peer funds transfer service PayNow, introduced in July 2017, which only requires knowledge of the payee's mobile number or NRIC. As of Aug 10, there have been more than 1.6 million PayNow registrations and over...


For Singapore startups, India is a land of fintech opportunities

A HUGE 1.3 billion population, strong government support for going cashless, and an "existential crisis" faced by traditional financial institutions (FIs), are among the factors that make India a promising land for Singapore fintech startups, The Business Times has learnt. As many as five Singapore fintech startups have set up shop in India or sold their solutions to companies in India in the last five years, according to Enterprise Singapore,...


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