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E-payment war morphing from single to paired fighters

Singapore

THE e-payment fight has taken on a new complexion. Facing each other on the frontlines are no longer single warriors - be it a Super App, fintech startup or financial incumbent - but newly-formed teams of unicorn and incumbent.

On Monday, three such partnerships were unveiled at the Singapore FinTech Festival - Go-Jek and DBS Bank; Grab and UOB Bank; and Razer and NETS. ...more

S-E Asia's imminent Fintech boom needs a robust IT and data centre support infrastructure

CASHLESS payment options and e-wallets seem to have proliferated every part of our lives these days - from paying for ride-hailing rides to online shopping, buying groceries, watching movies and even getting food at the local hawker centre. The convenience of paying with a quick swipe of our fingers seems to have made a large number of us converts to these new modes of payment.

Apart from ...more

Singapore's fintech drive arcs towards financial inclusion

Singapore

THE fintech wave will cast a wider net to capture smaller corporates cut off from financing, in a push by the Monetary Authority of Singapore (MAS) for small and medium-sized enterprises (SMEs) at home and in the region to give improved access to technology services and to credit.

And to prevent technology from creating fault lines that hurt the drive for financial inclusion, ...more

Towards an inclusive, stable financial sector

THE Ministry of Finance and the Monetary Authority of Singapore (MAS) assumed the ASEAN Finance Chairmanship in 2018. Under the theme of "Resilience and Innovation", both organisations have pursued various initiatives under the ASEAN Finance Track.

ASEAN is a vibrant, inter-connected region of 630 million people. It is currently the sixth-largest economy in the world, and is projected to become ...more

MAS, SGX leverage blockchain tech to settle tokenised assets

Singapore

THE Monetary Authority of Singapore (MAS) and the Singapore Exchange (SGX) have developed Delivery versus Payment (DvP) capabilities to settle tokenised assets across different blockchain platforms.

"This will help simplify post-trade processes and further shorten settlement cycles," MAS and SGX said in a joint release. DvP is a settlement procedure where securities and ...more

New business premiums for life insurance sector up 15%

The life insurance industry posted a healthy report card in the first nine months of the year, thanks in part to a strong uptake of annual and single premium plans as well as higher sales of products geared towards retirement needs.

Weighted new business premiums jumped 15 per cent to $3.17 billion from the same period last year, according to the Life Insurance Association Singapore (LIA). ...more

Integrating payment solutions towards a cashless society

DRIVEN by increased smartphone penetration and a rise in digital payments adoption, Asia is widely accepted to be leading in mobile payments globally. A study by Kantar TNS found that over half of connected consumers in the Asia-Pacific region use mobile to pay for goods and services via apps, compared to consumers in North America and Europe.

Consumers today are embracing e-payments in almost ...more

Making waves in the world of fintech

SINGAPORE-based M-DAQ is making waves in the world of fintech. The firm was recognised last year by the Monetary Authority of Singapore as one of the most innovative fintech start-ups, while FinanceAsia described it as one of the country's big fintech hopes.

One of its more innovative offerings is a solution known as Aladdin, which gives e-commerce platforms the ability to offer multi-currency ...more

Fintech gives fillip to jobs and funding in Singapore financial sector

Singapore

SINGAPORE'S move to develop the fintech sector came at a critical juncture, a time of weakness in traditional job creation in the financial industry, and just as the Monetary Authority of Singapore (MAS) was intent on spurring enterprise financing for growth companies, MAS' managing director Ravi Menon has said.

Some 2,000 jobs have been created in the fintech sector over ...more

UOB opens new China HQ in Shanghai

Singapore

UNITED Overseas Bank has reinforced its commitment to China by opening a new headquarters building in Shanghai.

UOB Plaza is the first Grade A office building owned by a foreign bank in the Lujiazui Financial District, the bank said on Tuesday.

The district is China's largest financial hub, driving Shanghai's development as an international financial centre. With ...more
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