Financial Technology
Funding to SEA fintechs drop 44% in Q1 but early-stage fintechs fly high
Funding to SEA fintechs drop 44% in Q1 but early-stage fintechs fly high
Funding to crypto firms more than tripled compared to Q4 2023.
StanChart’s SC Ventures invests in sharia fintech Algbra
The amount of investment is undisclosed.
StanChart’s SC Ventures and NEXT176 unveil Shariah-compliant wealth platform
It will merge SC Ventures’ Autumn with NEXT176’s 22seven into one new platform.
UPI propels India’s mobile wallet payments to $6.5t by 2028
In February 2024, $221.5b in value was paid across 12.1 billion UPI transactions.
Non-cash payment transactions in Vietnam up by 63%
Fintech is boosting MSMEs in Vietnam.
Ant Group raises transaction limits in China for foreign users
Ten partner wallets can now enjoy the increased limits.
Thailand publishes rules for virtual bank license applications
Applications begin on 20 March until 19 September 2024.
New rules, price caps to push more mergers amongst Indonesia’s P2P lenders
The regulations will raise compliance costs, but price caps will make it hard to offset them.
Number of fintechs in SEA to double by 2027
Singapore will have 867 fintechs for every 1 million people, UnaFinancial said.
Ant Group outbids Citadel for Credit Suisse’s China investment bank venture: report
But this faces a “thorough review” because China favors a foreign buyers, sources said.
How HomePay is combating renovation scams in Singapore
Money is put in an escrow account and disbursed when milestones are reached.
Fintech UNOAsia raises $32.1m in pre-series B round
It will support efforts to scale up UNO Digital Bank in the Philippines.
Thai broker KKPS, Nasdaq ink deal for banking and brokerage risk platform
KKPS is expected to benefit from a rapid onboarding process.
Embedded finance, partnerships to shape future of SEA fintechs
Digital payments, WealthTechs, and cryptocurrency are also slated for growth.
SG AI fintechs score funding wins amidst fintech investment downturn
This bucked the global trend, where AI fintechs overall clinched less investments.
Funding winter settles upon ASEAN fintechs, but rebound in sight
In the meantime, fintechs can take advantage of the lower valuations and acquire other firms.
ASEAN banks show impressive uptime performance in 2023 – Brankas
The report calls for better customer awareness of disruption and recommends institutions to keep at least a 99% uptime.
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