Fintech News
JULY 28, 2024
Indonesia’s Bank Commonwealth will lay off 1,146 employees following its acquisition by Singapore’s OCBC, a deal finalised two months ago for S$182 million, according to The Business Times. The acquisition, completed through OCBC’s Indonesian subsidiary PT Bank OCBC NISP Tbk, transferred full ownership of the bank to OCBC and integrated over 1.2 million customers into OCBC Indonesia’s network.
Finextra
JULY 28, 2024
The European Central Bank says there is "room for improvement" after conducting its first thematic stress tests on cyber resilience to determine how well individual banks would respond to and recover from a cyber attack.
Fintech News
JULY 28, 2024
2C2P, a Southeast Asian payments company, reported a 83% reduction in losses for the fiscal year ending 31 December 2023. The company, established by Aung Kyaw Moe in 2003, operates across Asia, including markets such as Thailand, Hong Kong, and India, and caters to clients like Lazada, IKEA, and Lenovo. In June 2022, Ant Group acquired a majority stake of over 80% in 2C2P , valuing the firm at more than US$590 million.
The Fintech Times
JULY 28, 2024
Now encapsulating a focus on societal impact and the environment, the term ‘fintech for good’ has evolved from its initial meaning of charity. But it doesn’t stop there. This July, we are on the hunt to find out how the fintech industry is doing ‘good’ for local communities and the world, revealing current and future plans to make change. As we near the end of our focus on accessibility , we turn our attention to what firms can do to bridge the accessibility gap.
Speaker: Jason Cottrell and Gireesh Sahukar
Retailers know the clock is ticking–legacy SAP Commerce support ends in 2026. Legacy platforms are becoming a liability burdened by complexity, rigidity, and mounting operational costs. But modernization isn’t just about swapping out systems, it’s about preparing for a future shaped by real-time interactions, AI powered buying assistants, and flexible commerce architecture.
Fintech News
JULY 28, 2024
The chairman of Income Insurance Limited Ronald Ong recused himself from the board’s decision to appoint Morgan Stanley as the financial advisor for the Allianz acquisition deal. This move was made to avoid any potential conflict of interest, as the chairman also holds a senior executive position at Morgan Stanley. This development follows Allianz’s announcement to acquire a 51% stake in Income Insurance for S$2.2 billion, marking a significant expansion in their insurance portfolio.
Chargebee
JULY 28, 2024
The curtain falls, the crowds disperse, and suddenly, your streaming platform’s subscriber base takes a nose dive. Sound familiar?
Payments Space brings together the best content for payment processing professionals from the widest variety of industry thought leaders.
The Paypers
JULY 28, 2024
The Bank of Lithuania has appointed a temporary representative to supervise the activities of Kevin EU, UAB , while also applying certain business restrictions.
The Fintech Times
JULY 28, 2024
Searching for the correct payment card so you can pay with a preferred payment method can be irritating from a consumer’s standpoint. This wouldn’t be an issue though if you could toggle between multiple payment methods on one card. Looking to bring this idea to life, Marqeta , the global modern card issuing platform has partnered with Visa , the payments giant, and Affirm , the BNPL provider.
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