financial technology (FinTech)

YouTrip raises record US$25.5 mil pre-series A to expand its platform across Asean
SINGAPORE (May 16): YouTrip, Singapore’s first multi-currency mobile wallet with a prepaid Mastercard which was jointly developed by EZ-Link, has raised US$25.5 million ($34.9 million) in its latest pre-Series A fundraise. This marks the largest pre-Series A funding round for a fintech startup operating in Southeast Asia. Participating investors include major Asian family offices and ...
Singapore, Kenya central banks to jointly organise first ever Afro-Asia FinTech Festival
SINGAPORE (May 7): The Monetary Authority of Singapore (MAS) and the Central Bank of Kenya (CBK) jointly announced that they will be organising the inaugural Afro-Asia FinTech Festival. The first of its kind event will be held in Nairobi, Kenya, from July 15-16, 2019. It will provide a platform for connections, collaborations and exchange of ideas between Africa and Asia, as well as further ...
Western Union launches co-located money transfer services at Singapore worker dormitories
SINGAPORE (Jan 17): Western Union has partnered Travelex, an independent foreign exchange (forex) and remittance business, to co-locate its money transfer services within five worker dormitories at Simpang, Mandai, Choa Chu Kang, Penjuru and Jalan Papan.   With the addition of Travelex locations, Western Union’s retail network will increase to 80 locations. Main image: Molly Shea ...
Western Union mobile app launched in Singapore
SINGAPORE (Dec 18): Money remitter Western Union today announced the launch of its mobile app in Singapore – making it the third destination in Asia, after Hong Kong and Malaysia, where the app can be used for Western Union transactions. Now available on the Google Play and Apple’s App Store, the app enables customers to transfer money to bank accounts worldwide, mobile wallets where ...
What the near future holds for global fintech firms & investors: McKinsey
SINGAPORE (Dec 18): With financial technology (fintech) evolving considerably over the last few years, fintech investors will have to be increasingly selective in deploying their capital as some sectors and companies approach a “possible endgame”, suggests a new report by McKinsey & Company. In its paper, Synergy and disruption: Ten trends shaping fintech, McKinsey postulates that ...
Singtel's Dash expands payment capabilities to international frontiers with Visa & Apple Pay
SINGAPORE (Dec 10): Singtel’s all-in-one mobile payments app, Dash, has expanded its payment capabilities to include international mobile payments via Apple Pay. This means Apple device users may also use Dash as a payment method on Apple Pay, making it the first non-bank mobile wallet in Singapore on Apple’s secure and private payments system. Main image, photo courtesy of Singtel: ...
Open banking a key digitisation objective for Asia Pacific FIs: Accenture Research
SINGAPORE (Dec 4): Providing open banking services is on the cards for the majority of large banks in Asia Pacific, according to a new global research report by Accenture Research. Open banking is a concept based on the principles of using open application program interfaces (APIs) such that third party developers can, using open source technology, build applications and services around ...
As cryptomining activity grows, so do the malware threats: McAfee Labs
SINGAPORE (Sept 26): Cryptomining malware is a rising factor on the cyber threat landscape, continuing its uptrend throughout the first half of 2018 since McAfee Labs first identified a surge in cryptomining malware growth in 4Q17. Based on the cybersecurity company’s latest report, McAfee Labs Threats Report: September 2018, new cryptomining malware samples grew 629% to more than 2.9 ...
Alipay and STB conclude first 'cashless trip' for Chinese visitors to Singapore
SINGAPORE (Sept 13): Alipay, the mobile payment and lifestyle platform operated by China’s Ant Financial Services Group, has concluded its first “cashless trip” made by Chinese visitors to Singapore. The trip was held in August this year together with the Singapore Tourism Board (STB), and saw six Alipay users visit Singapore based on itineraries planned by STB for three out of its seven ...
CGS-CIMB Securities launches eWealth robo-advisory platform
SINGAPORE (Aug 28): CGS-CIMB Securities has launched a robo-advisory platform, CGS-CIMB eWealth, to bring personalised investment advisory services to its retail clients by pairing portfolios with investors’ risk profiles and investment objectives. The platform is provided in CGS-CIMB’s partnership with Saxo Bank subsidiary Saxo Capital Markets as well as WeInvest, a Singapore-based ...