Tagged: asean

April 27, 2021 @ 1:27 am By Omar Faridi  |  

MyMy revealed on Monday (April 26, 2021) that it has obtained conditional approval for a large scheme E-money license from Bank Negara Malaysia, the nation’s central bank. The Fintech firm is now planning to launch its digital wallet services in the coming year. Until all… Read More

March 29, 2021 @ 11:45 pm By JD Alois  |  

Ripple has agreed to acquire a 40% stake in cross-border payments Fintech Tranglo, according to a public release. Tranglo, based in Malaysia but operates across Asia, reports 1300 partners having completed 20 million transactions at $4 billion in value. Tranglo claims to be one of… Read More

March 3, 2021 @ 6:30 am By Milena Naitoh  |  

The ASEAN economy is expected to become the fourth-largest economy in the world by 2030, growing at a pace of over 5% per year. Small and medium enterprises (SMEs) are the biggest contributors to this regional growth — they account for between 89% and 99%… Read More

February 26, 2021 @ 9:52 pm By Omar Faridi  |  

Bursa Malaysia, the nation’s stock exchange, is reportedly planning to work closely with Fintech firms or other strategic business partners in order to enhance its value proposition and improve its operational efficiency. Bursa Malaysia stated that these efforts should help the exchange grow and take… Read More

February 24, 2021 @ 10:39 pm By Omar Faridi  |  

Tyme, a multinational digital banking group based in Singapore, has reportedly secured $110 million in capital through a Series B funding round. Tyme is focused on bringing foreign investments into South Africa. TymeBank aims to establish the foundation for its business expansion across ASEAN region,… Read More

December 24, 2020 @ 7:55 pm By Omar Faridi  |  

Hong Kong based ZA Tech, a technology venture launched by insurance firm ZhongAn Online and supported by the Softbank Vision Fund, has revealed that it teamed up with the holding company of digital wallet OVO. Through the partnership, both organizations will offer insurance providers in… Read More

December 23, 2020 @ 11:38 pm By Omar Faridi  |  

Brunei’s Fintech sector continues to grow steadily due to the rising demand for digital financial services and its government’s push to encourage its residents to use modern payment methods. Brunei has the second-highest (after Singapore) human development index or HDI (which measures the overall quality… Read More

December 14, 2020 @ 9:23 pm By Omar Faridi  |  

Four in five or 80% of Fintech companies in the ASEAN region are focused on expanding their operations following the COVID-19 outbreak. ASEAN member countries include Brunei, Burma (Myanmar), Cambodia, Timor-Leste, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam. A report from UOB, PwC… Read More

December 10, 2020 @ 10:57 pm By Omar Faridi  |  

Singapore has managed to attract the highest total funding amount (at 42%) in the ASEAN region – which includes other major Southeast Asian economies such as Indonesia, Malaysia, Thailand, Vietnam, the Philippines, among others. Overall investor interest in Singapore’s Fintech companies continues to remain quite… Read More

December 7, 2020 @ 8:30 am By Amit Anand  |  

Emerging from the pandemic while other regions are still in the midst of crisis is giving the region an advantage.  The venture market in Southeast Asia has grown exponentially in the last five years but it’s not too late for LPs to dive in. While… Read More

November 29, 2020 @ 10:45 pm By Omar Faridi  |  

During the past few years, the Fintech sector in Thailand has grown significantly. The country is now home to at least 96 Fintech startups. Thailand’s Fintech ecosystem includes companies and businesses operating in the digital payments space, blockchain or distributed ledger tech (DLT). There are… Read More

November 29, 2020 @ 9:23 pm By Omar Faridi  |  

Online lender IN Financial through its subsidiary Cash-IN-Asia has secured S$5 million (appr. $3.74 million) in capital via an investment round that was led by Singapore’s VC venture firm DeClout Ventures. IN Financial is a Singapore-headquartered financing platform that’s enhanced by artificial intelligence (AI) and… Read More

November 5, 2020 @ 11:05 pm By Omar Faridi  |  

  Digital challenger banks have adopted several different business models in order to establish operations in the Fintech and banking sector. They’ve experienced a threefold growth (over 300% growth) during the past five years, according to a new report from the Singapore Fintech Association (SFA)…. Read More

September 15, 2020 @ 10:54 pm By Omar Faridi  |  

AMTD recently revealed that it has invested in several Fintech firms, as a part of its Singapore Solidarity Fund, under the purview of the ASEAN Solidarity Fund Group. AMTD has reportedly invested in the operations of Active.ai, Cardup, Funding Societies, PolicyPal, and Transwap. AMTD maintains… Read More

September 9, 2020 @ 9:36 pm By Omar Faridi  |  

Vietnam reportedly doesn’t have enough skilled professionals needed to support the growth of the nation’s Fintech focused economy. The Southeast Asian country is home to more than 96 million residents, making it the world’s 15th most populous nation. Its GDP stands at around $250 billion…. Read More

August 30, 2020 @ 8:11 pm By Omar Faridi  |  

Copenhagen Fintech, a Denmark based organization supporting financial technology, is teaming up with the United Nations Development Program (UNDP) and several other organizations in order to help Nordic Fintechs with launching operations in Singapore. The initiative is aimed at assisting Nordic Fintechs with setting up… Read More

August 24, 2020 @ 10:12 pm By Omar Faridi  |  

Indonesia, which has one of the largest economies in Southeast Asia and also ranked high globally, has emerged as a fast-growing Fintech hub. It’s estimated that in the next five years, digital financial services revenues in Indonesia will reach $8.6 billion, meaning they’re increasing at… Read More

August 21, 2020 @ 5:50 pm By Omar Faridi  |  

Southeast (SE) Asia is home to an unbanked population of around 290 million, according to a recent report from Fitch Ratings. Fintech solutions can enable more widespread financial inclusion, and could potentially increase the GDP of emerging markets by $3.7 trillion, according to an updated… Read More

August 14, 2020 @ 1:44 pm By Omar Faridi  |  

The United Kingdom and the Bank of Thailand (BoT) have reportedly committed to a Memorandum or Understanding (MoU) on financial services, in order to support inclusive economic growth and development. The UK government and the BoT signed the MoU on August 7, 2020, according to… Read More

July 27, 2020 @ 8:15 am By Omar Faridi  |  

Financing for SMEs is severely limited in certain regions of the world. Many different peer to peer (P2P) lending platforms have been launched in order to provide much-needed capital to small businesses. The SME Finance Forum reveals that 41% of formal micro, small and medium… Read More