An important resource for the dynamic banking and financial industry, providing a definitive list of banks, financial institutions in Singapore.

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Remodelling Singapore's wealth management industry

PRIVATE wealth in Asia is growing and will continue to grow. Over the next twenty years, Asia will also see inter- generational wealth transfers taking place on unprecedented magnitudes.

With the increasing digitalisation of the lifestyles of Asia's well-heeled, there has been a corresponding rise in expectation on their wealth advisers to provide personalised financial advice and solutions ...more

New framework to take Singapore funds industry to new level

SINGAPORE passed into law on Monday a new type of entity - the Variable Capital Company - that will be a game changer for the Republic's fast-growing fund management industry.

The Variable Capital Companies (VCC) Bill, approved by Parliament on Monday, aims to boost the fund management ecosystem by encouraging funds to both incorporate and operate in Singapore, placing the Republic in the ...more

Global banks in Singapore ride regional growth, BRI moves

Singapore

AS Asean infrastructure and China's Belt and Road Initiative (BRI) projects take off, experienced bankers are in demand as Singapore-based global banks move to seize the opportunities.

A recent report by recruitment consultant Hays Singapore said corporate and institutional banking is flourishing in Singapore as banks play a crucial role in financing BRI projects and heady ...more

OCBC banks on mobile-first strategy to grow Indonesia market share

Singapore

OCBC Bank is ramping up its digitalisation efforts in Indonesia in a bid to capture a larger share of the market.

It will use a mobile-first strategy and collaborations with partners from various sectors to increase accessibility to their services and deepen customer engagement, said OCBC in response to queries from The Business Times.

According to OCBC NISP - the ...more

HSBC Singapore on hiring blitz to tap burgeoning Asia wealth

Singapore

AS HSBC mounts an aggressive push to tap the burgeoning wealth in Asia, HSBC Singapore has targets to double total wealth - including deposits and investments - from the retail and private banking segment over the next five years, said its senior executives.

This comes as the bank globally wants to signal that much of its restructuring is behind it, as it commits US$15-17 ...more

Motor insurance claims climb by 11.8% despite fewer reported accidents

Singapore

MOTOR accidents are becoming more severe and involving more injuries, going by first-half results released by the General Insurance Association (GIA) on Tuesday.

The association said there had been a "significantly higher increase" of 11.8 per cent in incurred motor insurance claims, totalling S$291.3 million for the interim period, despite a dip of 4.3 per cent in the number ...more

Small businesses will benefit from simplified e-payment model

We thank Mr Tew Woon Chong for his letter (Unified e-payment system: What about other fintech players?; Sept 15).

The unified e-payment solution initiated by the Government serves to provide food merchants operating coffee shops, hawker centres and industrial canteens with a cost-effective, convenient and simple model to accept and process non-cash payments from customers.

This ...more

South African fintech raises US$52m for Asia, Africa push; CEO moves to S'pore

Singapore

SOUTH African fintech firm Jumo has raised US$52 million (S$71.5 million) in its latest funding round led by Goldman Sachs, which joins as a new investor.

The funds will be used for the firm's expansion into new growth markets in Asia and Africa. Jumo chief executive officer Andrew Watkins-Ball has relocated to Singapore to oversee the company's growth in Asia.

"Singapore ...more

HSBC Singapore beefing up commercial banking division

Singapore

HSBC Singapore is ramping up its commercial banking division to support companies expanding in Southeast Asia.

The 500-strong commercial banking division has been hiring and expects to end the year with more than 550 people, dedicated to supporting international companies here and across Asean.

Next year it further anticipates headcount growth of 20 per cent, as ...more

Singapore's payments transformation pushes ahead with single QR code

Singapore

A LONG-AWAITED piece is finally in place that will get Singapore's electronic payments transformation going.

Singapore on Monday launched a single, standardised QR or Quick Response code for e-payments in what could be a global model for other jurisdictions.

Just as significant, the government also announced it will open the interbank payment gates to fintech firms ...more
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