S’pore refreshes Smart Nation goals with plans to tackle digital harms, accelerate AI know-how

Plans are afoot to equip scientists and students with artificial intelligence (AI) know-how and offer swift remedies to victims traumatised by cyber bullying and deepfakes circulating online, as Singapore charts its next Smart Nation milestones. (straitestimes.com) Announcing the refreshed Smart Nation 2.0 plan on Oct 1, Prime Minister Lawrence Wong said that Singapore must sharpen…

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88% of Singapore SMBs might consider paying cybercriminals

ESET has released a study on Small-and-Medium Businesses (SMBs) in the Asia-Pacific (APAC) region. The ESET SMB Cybersecurity Report, which surveyed over 1,400 IT professionals, revealed that despite widespread organisational confidence in cybersecurity, 65% of Singaporean SMBs were targets of breach attempts or cybersecurity incidents in the past 12 months. (smehorizon.com) 85% also agree that…

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Revolut doubles down on business accounts and launches Revolut BillPay as global annualised revenues surpass $500M

Revolut, the global fintech with more than 45 million customers worldwide, today announced it is doubling down on business accounts as global annualised revenues of its business-to-business (B2B) offering, Revolut Business, have surpassed $500M. Globally, monthly processed transaction volume has reached £17B. (disruptionbanking.com) The news comes as Revolut continues to expand its footprint globally with the…

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BigFundr aims to reach S$500 million in total loans under management (LUM) by 2026

BigFundr, an innovative and leading fintech platform that provides retail investors access to real estate credit investments, is proud to announce significant milestones since its launch in October 2021Founded in Singapore and licensed and regulated by the Monetary Authority of Singapore (MAS) BigFundr has demonstrated impressive growth over the past three years, building a reputation for trust among both retail…

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AK Credit Celebrates Over 15 Years of Innovation and Ethical Lending Under the Leadership of Kugean KC

AK Credit, a leading micro-finance company in Singapore, is celebrating over a decade of innovation, responsible lending, and outstanding customer service under the visionary leadership of its founder and CEO, Kugean KC. This milestone highlights the company’s ongoing commitment to providing transparent financial solutions, setting new benchmarks in the moneylending industry, and empowering clients through financial…

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GFI and ICP Hub Singapore Target Financial Education and Knowledge Sharing Through MoU

Community engagement, talent development and promoting innovation are some of the key pillars that make up a successful fintech ecosystem. Ensuring these pillars are strengthened in Singapore, the Global FinTech Institute (GFI), the fintech body dedicated to creating greater collaboration, and ICP Hub Singapore, a branch of the Internet Computer Protocol,  have signed a Memorandum of Understanding (MoU)…

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Insider scoop: How HashMicro’s Groundbreaking Solutions Reshape Singapore’s Business Norms

Over the past decade, Singapore has become a global player in innovation and technology, spurred by government-led initiatives and a commitment to Industry 4.0 principles. Among the country’s existing tech players, an ERP software provider called HashMicro is widely known for its footprints beyond Singapore, which has helped over 2000 businesses in neighboring countries achieve…

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Singapore’s DBS Sees 3x Surge in Digital Exchange Trading Volume

Singapore’s DBS Digital Exchange (DDEx) saw digital assets on the platform increase by 80%. (blockhead.co) Singapore’s biggest bank, DBS, has seen trading volume on its digital exchange boom this year.  Digital payment tokens on the DBS Digital Exchange (DDEx) in the first five months of 2024 tripled over the same period last year. Active trading clients on the…

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MAS, National Bank of Cambodia Launch Financial Transparency Corridor for SMEs

The Monetary Authority of Singapore (MAS) and the National Bank of Cambodia (NBC) have inaugurated the Financial Transparency Corridor (FTC) initiative to enhance financial cooperation between the two countries, particularly for small and medium-sized enterprises (SMEs). (fintechnews.sg) The event, held at Istana, Singapore, was attended by Singapore Prime Minister Lawrence Wong and Cambodian Prime Minister Hun Manet during his…

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Payments firm Nium valued at $1.4 bln after latest funding

Nium, a payments company headquartered in both San Francisco and Singapore, has raised $50 million in its latest funding round led by a sovereign wealth fund in Southeast Asia, valuing it at $1.4 billion, it said in a statement. (sg.finance.yahoo.com) Nium did not name the sovereign wealth fund but said in its statement dated June…

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Singapore-HQ Fintech Aspire Enters Hong Kong, Positioned for Further Growth Across Asia

Aspire, a leading all-in-one finance platform headquartered in Singapore, today announced that the company has successfully obtained a Money Service Operator (MSO) License issued by the Hong Kong Customs and Excise Department. (my.lifenewsagency.com) Aspire offers a unified suite of financial solutions to small and medium-sized enterprises (SMEs) in Hong Kong, including the ability to open…

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PayerMax Won 2024 “The Asset Triple A Award”, Multi-Currency Global Collection Solution Recognized

Recently, the prestigious international financial media outlet, The Asset, announced the results of the 2024 “The Asset Triple A Awards.” PayerMax stood out with its exceptional multi-currency virtual account solution and H2H bulk payment solution, as well as its remarkable achievements in helping numerous enterprises expand into new markets. As a result, PayerMax was awarded…

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Singapore’s Journey with Cloud-Based Bus Fleet Management

Singapore’s Land Transport Authority (LTA) is poised to transform its public transport services through the adoption of a cloud-based Bus Fleet Management System (BFMS), developed in collaboration with a consortium. This initiative marks a significant advancement in Singapore’s journey towards establishing a more efficient, connected, and passenger-centric public transport network. (opengovasia.com) Since its inception in 2014, the…

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Flash News: OKX Marketplace Now Supports Zero-Fee Metaplex Core NFT Trading

SINGAPORE, April 30, 2024 (GLOBE NEWSWIRE) — OKX, a leading Web3 technology company, has issued updates for May 1, 2024. (fintechfutures.com) OKX Marketplace Now Supports Zero-Fee Metaplex Core NFT Trading  OKX today announced that it now supports the Metaplex Core token standard. With this addition, users can trade all Metaplex Core NFTs with zero fees on OKX’s multi-chain Marketplace. …

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SGeBIZ and Funding Societies Team Up to Offer BNPL Payment Option for SMEs

Southeast Asia’s SME digital finance platform Funding Societies has partnered with SGeBIZ, a provider of digital procurement, payment, and sourcing solutions, to introduce embedded finance solutions for SMEs in Singapore. (fintechnews.sg) This collaboration aims to integrate Funding Societies’ financing capabilities into SGeBIZ’s EzyProcure platform through a “Buy Now, Pay Later” (BNPL) feature. The initiative will reportedly benefit…

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10 Robo Advisors Democratising Digital Investing in the US$1.5B Singapore Market

Robo advisors have emerged as a game-changer in Singapore, transforming the way Singaporeans approach investment and wealth management. These digital platforms harness the power of algorithms and cutting-edge technology to provide personalised investment advice and portfolio management services, making investing more accessible and cost-effective than ever before. (fintechnews.sg) In a nation renowned for its high…

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Temasek Furthers European Expansion with New Paris Office

Singapore’s sovereign wealth fund Temasek has inaugurated its new office in Paris, marking a significant step in its European expansion strategy. (fintechnews.sg) This new Parisian base is part of Temasek’s broader objective to enhance its global network and leverage opportunities across the European Union as well as the Europe, Middle East, and Africa (EMEA) region. The Paris…

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Grab to phase out GrabPay Card services in June

Grab has announced that it will cease support for its GrabPay Card, both digital and physical, from June 1, 2024. (techinasia.com) Since April 1, the super app has stopped accepting new GrabPay Card applications, while users still have until April 30 to request a replacement card if needed. Meanwhile, users’ GrabRewards points and the GrabPay Wallet balance won’t…

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Dwai Reveals How Trust Bank Singapore is Winning Customers Over

In the dynamic arena of fintech, Trust Bank Singapore stands out as a pioneering entity, marking a significant shift in the digital banking landscape under the leadership of banking veteran Dwaipayan Sadhu, commonly referred to as Dwai. (fintechnews.sg) Within a span of less than two years, Trust Bank has carved a distinct identity, positioning itself…

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TikTok Shop emerges as most popular platform for international online shopping among Singaporeans: Airwallex survey

TikTok is the most popular platform among Singaporeans used for international online shopping, according to a report about global ecommerce trends by Tencent-backed fintech Airwallex and fintech consultancy Edgar, Dunn & Company. (theedgesingapore.com) The inaugural report finds that more than 60% of consumers in Singapore are likely to make online purchases from international merchants through social…

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Building Cyber Resilience: Singapore’s Collaborative Approach

The Singapore Police Force (SPF) urges the public to safeguard their SingPass credentials. Scammers have been posting fraudulent job offers online, requesting SingPass details under the guise of job screening. Since January 1, 2024, at least 47 individuals have fallen victim to such schemes, often encountering these offers on platforms like Telegram or WhatsApp. (opengovasia.com) Victims…

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Currencycloud Facilitates Seamless Cross-Border Payments with Singapore MPI Licence

Currencycloud, a Visa solution, is granted preliminary approval for a major payment licence from the Monetary Authority of Singapore (MAS). The in-principle approval (IPA) for a major payment institution (MPI) licence means Currenycloud can offer  customers based in Asia Pacific the ability to collect, convert, hold, send, and spend multiple currencies simultaneously across 180 countries and territories.…

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5 Key Fintech Takeaways From the Singapore Budget 2024

Singapore has emerged as a frontrunner in the global fintech landscape in recent years, with a robust ecosystem fostering innovation and growth. (fintechnew.sg) According to Statista, the transaction value of the fintech sector in Singapore is projected to soar to US$ 29.4 billion (SG$ 39.58 billion) in 2028, showcasing the sector’s rapid expansion. Singapore accounted for 59 percent…

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Singapore to develop its own AI models

According to Cointelegraph, Singapore is eyeing 2024 as the year to scale its Southeast Asian-focused artificial intelligence (AI) models for commercial use and become a hub for the technology.  Sources revealed that AI Singapore, a government-led initiative, is planning to develop the country’s own AI models, particularly those that cater to local populations. It is…

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