IBM plans to establish the “first” IBM Center for Blockchain Innovation in Singapore. The firm says this is the first collaboration of its kind with the Singapore Economic Development Board (EDB) and the Monetary Authority of Singapore (MAS). IBM researchers will work with government, industries and academia to develop applications and solutions which are based […]
DBS Bank says it is the first Singapore bank to adopt cloud-based productivity technology, Office 365, in the workplace. The bank says its “early” adoption of cloud among financial sector players comes amid Singapore’s “smart nation drive as well as a digital revolution that is redefining the banking industry”. DBS says fintech pose an “increasing […]
Banks in Singapore are working together on a new service that will allow users to make payments using Twitter usernames or Facebook IDs. According to the FT, a pilot is due to take place in the first quarter of 2017. Rather than entering an account number and sort code, users will be able to make […]
Android Pay has launched in Singapore, making it the first country in Asia to get the system. Pali Bhat, senior director of product management at Google, says Singapore was chosen as the third market worldwide after the US and UK due to the number of mobile phone users and highly developed infrastructure. Android Pay will […]
Wirecard Singapore, part of Wirecard Group, and NETS (Network for Electronic Transfers {Singapore}) have partnered to provide a single terminal payment solution for Singapore government agencies. The move will enable users to use their CEPAS (Contactless e-Purse Application) cards such as NETS FlashPay, EZ-Link and concession cards on one single device. Wirecard says CEPAS cards […]
Apple Pay support is expanding beyond American Express to Visa and MasterCard credit and debit cards from five of Singapore’s major banks. The big banks include POSB, DBS, OCBC, Standard Chartered and UOB. This latest deal is a significant development for Apple as it now has more than 80% of the Visa and MasterCard credit […]
Swiss vendor MIT (Micro-Informatique & Technologies) has signed a contract with OCBC Bank to support its commodity trade finance business with its TRAC (Trade Risk Active Control) system. Maggie Cheong, head of transaction and collateral management, global commodities finance at OCBC, explains the bank’s choice: “We have chosen the TRAC system as it provides the […]
Kyc.com, a joint venture between Markit and Genpact, has announced the expansion of its Know Your Customer (KYC) compliance and diligence service to Hong Kong and Singapore. This roll out is in addition to jurisdictional coverage in the US, UK and Australia which it launched in 2014. A number of banks are already signed up […]
The Singapore Exchange is to launch FX block futures on ICAP’s FX platform EBS Market, in a deal the two companies say will bridge the FX OTC and futures markets. The move comes as regulators around the world seek to move as much trading activity towards cleared platforms as possible, as part of the ongoing G20 reform agenda.
A prosperous, clean and safe place to visit, Singapore also offers a wide variety of culinary delights.
Swift has named the 20 finalists for the 2015 Innotribe Startup Challenge finale, which will take place at Sibos in Singapore this October. The finalists include companies focused on personal finance, foreign exchange, data protection, mobile banking and e-commerce as well as social media, big data, payments and many other areas.
Singapore futures market Cleartrade Exchange has launched a new matching and trading platform, CLTX Trader, which will go live on Deutsche Börse’s global trading architecture. The exchange says the new technology will help support more advanced trading strategies for commodity derivatives.
Singapore’ DBS Bank has begun a major overhaul of its financial crime prevention strategy, as the bank seeks to upgrade its suspicious activity monitoring, due diligence and risk tools.
Deutsche Börse, Eurex and the Bombay Stock Exchange have further extended their strategic cooperation offering connectivity services. Participants of BSE will be able to use Deutsche Börse’s resilient low latency N7 network services to connect to BSE back-ends in India through the Deutsche Börse access points in Hong Kong and Singapore.
The Singapore challenge Singapore is an advanced economy that employs a variety of clearing and settlement systems. It needed to transform its payments infrastructure to offer instant interbank transfers. The core technology VocaLink could deliver a practical solution, Immediate Payments (IPS), and also offer practical support during the implementation and beyond. BCS could embed IPS […]
As the global banks grapple with tides of regulation, fines, and a myriad of other post-crisis issues, local Asian institutions are tooling up and stepping in to fill the gaps.
Sourcing the right collateral to cover global exposures has risen up the list of priorities for financial institutions in Asia in the past 12 months as concerns mount over a possible collateral shortfall, according to a poll conducted by the Singapore Exchange and Clearstream at the Global Securities Financing Conference Asia 2014 in Singapore.
IntercontinentalExchange is to acquire Singapore Mercantile Exchange, including the venue’s clearing house, in a deal that will give it a foothold in Asia for the first time. SMX offers futures for metals, currencies, energy and agricultural commodities.
The Singapore Exchange and Luxembourg-based Clearstream are planning to launch a collateral management service that should help customers use assets as collateral at SGX’s securities depository CDP.
Swift’s innovation-focused spin-off Innotribe has announced the five Singapore finalists for its global startup challenge, which aims to help innovative new companies in financial services to develop their ideas and transform them into working businesses.
HSBC and Barclays have begun trading Singapore-listed stocks on the London Stock Exchange, using the LSE’s newly-created international board.
Singapore’s Cleartrade Exchange has appointed Mark Langley as its new Asia business development director as it seeks to expand its presence in commodity futures.
The Singapore Exchange has stepped up its efforts to connect to international market participants, with a deal between itself and German derivatives exchange Eurex that will allow traders in Europe to access the Singapore market more easily.
