Fintech startup soCash raises US$6 mil in series B funding round

SINGAPORE (July 22): soCash, the Singapore-headquartered fintech startup, announced that it has raised US$6 million ($8.2 million) in its series B funding round.

With the new funds, soCash aims to grow its distribution network to improve the accessibility and convenience of banking services in countries such as Indonesia, Malaysia and Hong Kong -- as the company has already acquired the relevant regulatory clearances in these three markets.

Singaporeans love their banks but remains wary of other asset managers, finds survey

SINGAPORE (Sept 20): While a majority of Singaporeans view the city state’s financial services sector as more trustworthy than a decade ago, many are cautious towards less familiar sub-industries and new & emerging digital financial services companies.

This is according to the inaugural 2018 Financial Services Reputation Index, launched today by MHP Communications and ORC International, which surveyed over 4,000 adults across China, Hong Kong, India and Singapore in August this year.

DBS/POSB launches Singapore’s first video teller machines across 9 locations

SINGAPORE (April 25): DBS and POSB customers are now able to access nine Video Teller Machines across Singapore – the first of its kind in the city-state.

The DBS/POSB VTMs provide round-the-clock branch banking services to customers, with the option of “face-to-face” assistance from bank tellers via live-video streaming.


Singapore Savings Bonds exceed $1 bil in investments, new application channels launched

SINGAPORE (Feb 2): The Singapore Savings Bond (SSB) programme has exceeded $1 billion in outstanding amount with more than 37,000 investors, according to the Monetary Authority of Singapore (MAS).

Additionally, MAS shares that SSBs may also now be applied for through three new online application channels: OCBC’s and UOB’s Internet Banking portals, as well as OCBC’s mobile app.

Applications for SSBs were previously only available through DBS/POSB’s Internet Banking portal, besides the ATMs of DBS/POSB, OCBC and UOB.

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