Owner of Hong Kong robo-advisor Aqumon lands Alibaba-backed $30m
Aqumon offers B2C and B2B solutions.
Singapore
Silent Eight lands $9m to help firms tackle money laundering
The start-up says it has doubled its valuation in just over a year.
Wirecard operations cease in Singapore, MAS slaps down more charges
Wirecard SG needs to return all customer funds within the next two weeks.
Emirates NBD deploys new payments hub with TCS Bancs
The UAE bank goes live on TCS Bancs after kicking off the project in 2019.
Grab in talks for $300-500m AIA & Prudential investment
The up-to-$500-million target is to be spread over a number of rounds.
Singapore fintech GoBear lays off 11% of workforce
The fintech landed $17 million in May,
Singapore’s cross-border transfer fintech Nium lands EMI in UK
Nium evolved from a consumer remittance service to a B2B offering.
Singapore fintech Atlantis enters India with challenger Neo
Atlantis believes market adoption in India will be particularly successful.
Singapore firm Razer reveals overseas digital bank plans
“With a digital bank, being more nimble, we want to build a global business”.
CredoLab raises $7m in Serie A funding
Singapore fintech plans product expansion with new funding.
Singapore’s MAS pours $182m into second fintech fund
Around half of the committed SGD 250m rolled over from the first FSTI scheme.
Grab launches micro-investment, third-party loan and BNPL offerings
The firm is further cementing itself in the financial services industry.
Singapore’s robo-advisor StashAway lands $16m led by Square Peg
The fintech last raised funding in July 2019.
AMTD Group teams with SME partners ahead of Singa Bank’s launch
AMTD is yet to land a licence to launch the bank.
DBS and Infor partner to offer SMEs digital trade financing
The partnership is one of a line of joint projects between Infor and DBS.
Singapore API firm Percipient raises $5m
The fintech plans to boost the deployment of its TWINNTM system.
Singapore FinTech Association launches new innovation lab
The Nexia InnoLab will connect start-ups with local businesses.
OCBC Bank connects to Singapore Government’s identity platform
SingPass enables users to connect to a wide range of platforms and government services.
MAS completes multi-currency blockchain testing
The blockchain network is jointly developed with JP Morgan and investment firm Temasek.
Singapore’s ADBC signs MoU with Tencent Cloud
New Singapore bank plans cloud boost.
OCBC sets new SGD 25bn sustainable finance target
OCBC will focus on industrial and geographical diversification to reach its “25-by-25” target.
OCBC to hire 3,000 this year in full-time, traineeship positions
About 2,100 of the jobs are full-time roles across the bank’s entities.
Transfergo raises $10m, expands into 11 new markets
Remittance firm claims uptake in growth during COVID-19 pandemic.
FX fintech Wallex lands Series A led by Ant Financial-backed VC
The value of the round has not been disclosed.
Deutsche Bank set to launch fourth e-FX hub in Singapore
The hub will be developed and staffed locally.
MAS launches $1.25m fintech challenge to tackle climate change & COVID-19
Up to 12 winners will be selected to receive in prize money.
Singapore develops “fairness metrics” for AI adoption in finance
The metrics will inform credit risk scoring and customer marketing.
BNY Mellon plans Singapore FX engine in partnership with MAS
The announcement is part of the bank’s strategic expansion into the Asia Pacific region.
GoBear lands $17m to accelerate transition into “full-fledged” financial service
The fintech first launched in 2015 as a metasearch engine.
Anquan Capital partners with crypto arm of Germany’s WEG Bank
The partnership includes an undisclosed investment from Anquan.
Singapore fintech Spark Systems lands $10.5m from Citi and HSBC
These heavy weight investors join existing backer Goldman Sachs.
COVID-19: Highlight of the week
We focus on one particular coronavirus news item affecting the fintech industry.
Singapore launches $4.2m grant scheme for its fintechs
Applications for the grant scheme will open on 18 May 2020.
Singapore payments fintech Nium lands investment from Visa
The round is thought to be worth between $75-$100 million.
IHS Markit acquires Singapore-based Catena Technologies
Previously a fintech consultancy, Catena was overhauled in 2014.
Singapore’s GoBear snaps up fintech AsiaKredit
GoBear’s bank partners will be able to tap underserved consumers.
Tradeteq to develop quantum-based credit scoring with Singapore university
The project is backed by the Monetary Authority of Singapore (MAS).
Singapore’s new blockchain industry group BAS launches
The group is the result of a merger between two 2018-founded entities.
Singtel’s NCS and NETS to develop electronic payments platform for central banks
The firms will also create a “next-generation” suite of central banking products.
Big data fintech GeoDB bags £1.37m from Seedrs investors
The UK fintech combines big data, blockchain and crypto into ‘Big – Crypto’.
