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Nine fintech-focused chief marketing officers (CMOs) have been named among the most influential and purposeful marketers in Asia-Pacific (APAC), recognized by Campaign Asia-Pacific and DoubleVerify for their ability to adapt to a rapidly evolving landscape. Goh has been consistently recognized as a leading marketer in APAC.
The team will be led by Smrithi Ravi, the companys APAC Head of Engineering, who will relocate from Singapore to oversee the new hub. Since 2021, it has also offered outward transfers from India through its own AD-II licence, allowing customers to remit up to US$250,000 annually under the Liberalised Remittance Scheme.
Between 2021 and 2024, identity fraud rates increased from 1.1% Identity fraud in APAC In Asia-Pacific (APAC) where digital growth is accelerating, identity fraud continues to grow at an alarming rate. Echoing global trends, Sumsub data reveal that financial services are the most affected industry in APAC.
It notes that while COVID-19 accelerated the digital shift, Asia-Pacific (APAC) still face significant financial inclusion challenges with 820 million unbanked and 1.8 Southeast Asias alternative lending market, including BNPL, is projected to grow at a 45% CAGR, rising from US$26 billion in 2021 to US$116 billion by 2025.
” Founded in 2021, Nomupay is headquartered in Dublin, Ireland. ” Initially, the partnership will focus on facilitating operations in APAC markets, with other regions to be added over time as TransferMate leverages Deutsche Bank’s extensive international network. Nomupay is a highly reliable partner.”
In Bahrain, the volume of e-wallet transactions almost tripled between 2020 and 2021. This has had a huge impact on the growth in outgoing remittances – which rose from $25billion in the early 2000s, to $134billion in 2021. In Morocco, as much as 75 per cent of people had used at least one emerging payment method in 2022.
As crypto adoption accelerates, regulators are ramping up enforcement of the Financial Action Task Force’s (FATF) Travel Rule compliance in APAC. Four Years In, The Compliance Gap in the Travel Rule Still Exists In 2021, the FATF updated its risk-based guidance for virtual assets and VASPs, reinforcing the Travel Rule.
The collaboration will focus onAsia-Pacific ( APAC ) and Europe, andmarks a new milestone in Tribes APAC expansion, having opened its new regional HQ in Singapore in October 2024. The post Tribe Payments Joins Forces With Finmo to Deliver Services to Banks and Fintechs in APAC and Europe appeared first on The Fintech Times.
To better understand why SaaS is no longer just a cloud delivery model but a strategic enabler of next-generation banking, Fintech News Network spoke with Suresh Raman, Head of SaaS APAC at Temenos. between 2021 and 2030, according to IBS Intelligence. Gartner projects that the global public cloud spending to reach USD $723.4
According to the data, First Time Approval rates (FTAs) in AMER have fallen 3.09% from last year to 78.97%, knocking the region off the top spot for the first time since the report began in 2021. days, the lowest of any in this year’s study, showcasing effective streamlined workflows and integration.
billion valuation (a big slide from $25 billion in 2021), really meant for your ambitious plans? This significant drop from its 2021 peak of $25 billion powerfully signals a massive recalibration of investor expectations. led by YFM to expand across EMEA, APAC, and North America, targeting insurers, brokers, and MGAs.
According to a new report by Chainalysis , the blockchain data platform, the Middle East and Africa (MEA) region saw over $566billion in crypto transactions between July 2021 and June 2022. We’re not trying to ride a trend,” said Omar Mansur , managing director – APAC, at Codebase Technologies.
This predicament is particularly acute for fintech firms in the Asia-Pacific (APAC) region, where the fintech sector is rapidly expanding. The Evolving Fraud Landscape APAC has seen a significant uptick in corporate data breaches, profoundly impacting fintech companies. million in 2021.
Gemini, an American crypto exchange founded by twins Tyler and Cameron Winklevoss, has announced the appointment of Saad Ahmed as the new Head of Asia Pacific (APAC). The former APAC chief Jeremy Ng left the company back in December 2021. He will also be responsible for overseeing the profitability and growth within the region.
As digital banks in the Asia Pacific (APAC) region aim to replicate this success, there are valuable lessons to be learned from the unconventional Nubank approach to banking. Digital banks in the APAC region should take note of this Nubank approach. According to a 2021 report by the Asian Development Bank, an estimated 1.1
2023 marked a pivotal year in the Asia-Pacific (APAC) region’s approach to crypto regulation, influenced significantly by the preceding implosion of Sam Bankman-Fried’s FTX exchange and the collapse of of Terra, the algorithmic stablecoin created by Korean entrepreneur Do Kwon.
To get a sense of APAC’s up-and-coming fintech leaders, we take a look today at some of 2023’s largest VC-backed rounds fintech of funding in APAC, showcasing the startups that managed to beat the odds in the face of a challenging fundraising environment and global economic uncertainties.
In celebration of this year’s International Women’s Day on 8 March, the Fintech News Network is unveiling its selection of ten of the most influential female fintech leaders in Asia Pacific (APAC). Their influence goes beyond their own organisations, significantly impacting the fintech sector across the entire APAC region.
In Asia-Pacific (APAC), the financial landscape is evolving rapidly amid technological advancements, changing customer expectations and the rise of fintech. Here’s a curated list of the top fintech events taking place in APAC in Q2 2024.
Data analytics company LexisNexis estimates that the cost of financial crime compliance in APAC will approach the US$45 billion mark in 2023, showcasing the substantial investment required to meet stringent compliance requirements. Transparently.AI (Singapore) Founded in 2021 and based in Singapore, Transparently.AI
Tackling such sophisticated identity fraud will be a priority across APAC in 2024. APAC nations face unique fraud challenges In the Jumio report, a concerning picture emerges for the Asia-Pacific (APAC) region, where significant challenges related to fraud and identity issues are on the rise.
billion by 2021 at a CAGR of 23.9 The market in APAC is expected to grow at the highest CAGR between 2016 and 2021. The major driving forces for this growth are increasing technological adoption and huge opportunities across industry verticals in APAC countries, especially India and China. billion in 2016 to $27.9
Hiroko Michishita Hiroko Michishita, Managing Director, JCB International Asia Pacific, said, “Between 2021 and 2022, JCB has almost doubled the volume of ecommerce transactions in Singapore. While East Asia is our traditional stronghold, we have seen substantial growth in our ASEAN card base of 132% from 2018 to 2023.
JCB International , Japan’s international payment brand, is expanding its global partnership with Nuvei Corporation , the Canadian fintech company, to include the Asia-Pacific (APAC) region. Nuvei also explained that the development is particularly significant for its customers in the APAC region.
Leading payment technology firm, Tribe Payments , has announced a strategic partnership with global Treasury Operating System (TOS), Finmo , to deliver integrated, end-to-end payment and treasury services to banking and fintech clients across key growth markets – notably Asia -Pacific (APAC) and Europe.
Asia-Pacific (APAC) is one of the fastest-growing regions for cyber insurance, according to a S&P Global survey. annually, making APAC one of the most dynamic market in the world for the coverage type. Over the past five years, the region’s cyber insurance market has grown 51.2%
. “Having the license would allow us to integrate with the robust financial network in Singapore and collaborate with valuable industry players,” said the company’s Managing Director of APAC Rohit Narang. Currencycloud was acquired by Visa in 2021. Mike Laven is CEO.
Established in 2013, BitGo introduced a multi-signature wallet and has expanded its offerings over the years, including the establishment of BitGo Trust Company in 2018 and BitGo New York Trust in 2021, focusing on digital asset custody. In 2022, BitGo expanded its services to include institutional-grade DeFi, NFT, and Web 3.0.
Meanwhile, Google reported that demand for international travel in Asia-Pacific (APAC) skyrocketed to 85% above 2019 levels in 2023, while domestic travel demand surged by 52%. billion more people booked flights in 2022, compared with 2021, forecasting that online bookings reached pre-pandemic levels last year.
European Card Fraud in 2021: Winners, Losers and Scams. Only four countries of the 18 we studied improved their card fraud performance in 2021. This was done despite threat levels on credit cards, as measured by basis points, increasing by 32 percent in 2021. Darcy Sullivan. Tue, 11/10/2020 - 12:17. by Naomi Palmer.
Codebase Technologies , a UAE-based fintech platform provider, has launched its ‘Digibanc SME Financing’ platform to address the needs of underserved Micro, small, and medium-sized enterprises (MSMEs) across MENA and APAC. per cent from 2022 to 2031. Globally the financing gap for formal MSMEs is an estimated $5.2
in 2021, which was the first U.S.-registered Tariq Ahmad Tariq Ahmad, Head of APAC, Franklin Templeton, said, We are proud and excited to bring this first-of-its-kind tokenised money market fund to retail investors in Singapore. The firm previously launched a tokenised money market fund in the U.S.
In the Asia-Pacific (APAC) region, 11 out of the 13 profitable digital banks , including South Korea’s Kakao Bank, India’s Paytm Bank, and China’s AIBank, WeBank, XW Bank, and MyBank, are redefining banking paradigms. This not only boosted the accessibility of SME loans but also contributed to the bank’s growth.
Forbes has released its annual 30 Under 30 Asia list, recognizing the entrepreneurs, artists, athletes, and changemakers who are leading transformative initiatives across key industries in the Asia-Pacific (APAC) region. Following a successful pilot launch in 2021, EduFi began disbursing loans earlier this year.
BPC’s SmartVista platform was chosen for its flexible microservices-based architecture and deep expertise in the Cambodian and wider APAC markets. Consequently, the bank’s cardholder base grew from 1,400,000 debit cards in 2021 to over 2 million by the end of 2024—a substantial increase of more than 40% in just three years.
Zoom could start trialing an email tool sometime in 2021, with a calendar app sometime later. This year, the Silicon Valley video conferencing startup saw its stock soar over 500 percent due to the pandemic-fueled surge in remote work and school.
Xendit claims more than 3,000 customers, among which Samsung Indonesia, Grab Pay, Ninja Van Philippines, Qoala, Unicef Indonesia, Cashalo and Shopback, and says it tripled annualized transactions from 65 million to 200 million between 2021 and 2022, and increased total payments value from US$6.5 monthly active users in 2021.
Visa saw great value in that and became a partner and investor in 2020, before acquiring us in 2021 ,” said Rohit. In 2021, Visa acquired Currencycloud in a deal valued at US$963 million, with the primary aim of enhancing transparency, flexibility, and control in cross-border payments.
Overall levels of investment in compliance technology by banks in Asia Pacific are expected to rise in 2021. Indonesia, Australia, Thailand and the Philippines were the markets that said they would invest the most in 2021. Interestingly, foreign banks are more inclined towards new spend compared with domestic counterparts.
Even more reassuring, 54% of FSIs surveyed in EMEA, USA, and APAC are already embedding AI into their offerings or expanding their initiatives, and 61% plan to use Gen AI in 2024. Will Generative AI in payments accelerate financial institutions on their path to increased revenue and cost optimisation?
One firm at the top of its game is AU10TIX , the identity verification and management platform, as it has protected companies against over $18billion in business fraud since 2021. Building on success In 2023, AU10TIX prevented twice the fraud that it had in 2021.
or the EU, India and the broader APAC regions, where local authorities have mandated this option," said Gurukula. Yet with faster and real-time payment services available today, FIs can make 2021 a year of accelerated adoption. The faster payments ecosystem in the U.S. really has had no regulatory push compared to the U.K.
Twimbit, a Singaporean research and advisory firm, identifies data monetization as one of the biggest growth opportunities for banks in Asia-Pacific (APAC), which, alongside super-app platforms, financial marketplaces, banking-as-a-services and buy now, pay later (BNPL) arrangements, are projected to contribute over 40% of banking revenue by 2030.
Founded in 2021 as a merger company between Gojek and Tokopedia, two of Indonesia’s biggest Internet companies at that time, the GoTo Group claimed 50.8 YouTrip has experienced significant growth in its consumer multi-currency spending in Singapore and Thailand, with its user base tripling between 2021 and 2023.
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