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Southeast Asias fintech industry is flourishing, driven by soaring adoption of digital payments, alternative lending, and wealthtech. In Southeast Asia alone, 85% of adults are underbanked, translating to approximately 300 million individuals lacking adequate access to financial services. CAGR between 2024 and 2029, reaching nearly US$1.7
The fintech unicorns in Asia are moving to reshape the very fabric of how people and businesses interact with money. Out of the unicorns worldwide valued at a combined $4 trillion , a rising share are coming out of Asias fast-moving fintech ecosystem. These include two decacorns from India and China, each valued at over $10 billion.
A Tracxn Technologies report highlights that the Southeast Asia fintech ecosystem experienced its zenith in 2021, marking the highest annual equity funding in the last decade. A visual overview of the SEA fintech sector’s funding trajectory from 2017 to 2024, showcasing the sharp decline after a record-breaking 2021.
The post Revolut Posts US$1 Billion Profit for 2024, Singapore Marks Profitability Milestone appeared first on Fintech Singapore. .” Looking ahead, Revolut plans to formally launch its bank in the UK and Mexico in 2025, while seeking over 10 new global licenses and expanding services into markets like India and Brazil.
Fintech solutions are changing this landscape, offering SMEs tailored tools to overcome these barriers. From innovative lending platforms to advanced payment processing, fintech is enabling them to access growth opportunities and thrive in today’s competitive markets. Fintech companies see this gap as an opportunity to innovate.
In Vietnam, bank-owned apps are rapidly gaining popularity across all generations, outpacing independent fintech platforms like MoMo and ZaloPay, which are seeing a decline in usage and preference, according to a new report by Decision Lab, a Vietnamese market research firm. But most importantly, these platforms popularity increased.
Fintech is all about keeping up in a fast-moving industry. In Singapore, where cutting-edge financial innovation meets smart regulations, the fintech scene is buzzing with competition and collaboration. 6 Fintech Events to Attend in Singapore in 2025 1.
The event is expected to bring together leading regulators, fintech executives, banks, and industry disruptors from across the Asia-Pacific region to discuss trends and innovations shaping the financial sector, with a focus on real-world case studies and actionable strategies. Yet, its potential is far from being fully realised.
Paytm s subsidiary, Paytm Cloud Technologies Limited (PCTL), is set to acquire a 25% stake in the US-based fintech startup Seven Technology LLC for 8.7 Featured image credit: edited from freepik The post Paytm Cloud to Acquire 25% Stake in US Fintech For US$1 Million appeared first on Fintech Singapore.
Southeast Asias fintech sector recorded US$1.6 Y-o-Y Funding Trends Source: Tracxn Despite these challenges, the fintech industry emerged as one of the strongest performers in the regions tech startup ecosystem, driven by the ongoing digital transformation fueled by e-commerce and the adoption of contactless payments. billion in 2022.
In this exclusive Fintech Review interview, Adam Swartzbaugh, CEO of Almond FinTech , discusses transformative cross-border payment technology. How does Almond FinTech ’s proprietary technology enhance the speed and transparency of cross-border transactions for financial institutions? Let’s dive in.
ProjectPay , the construction payments fintech, which received a project grant funded by the government’s innovation division, Innovate UK, to research and test how to solve cashflow problems in the construction industry, has now published its findings. The report has been provided to the government.
With fintechs gender gap stuck in the dark ages, does the next generation of women even want in? Hannah Duncan takes her Gen-Z sister to the Women in Fintech Powerlist celebration to find out. How can a young woman on the precipice of her career get into fintech? Soon-to-be graduates are the future, and we need them.
The post Avoiding Over-Regulation: American Fintech Council Warns That FDIC New Act Could Hinder Innovation appeared first on The Fintech Times. By collaborating with stakeholders, the FDIC can foster responsible innovation while ensuring transparency, accuracy, and security in custodial account recordkeeping.
We previously explored why the convergence of SaaS and fintech is so compelling. Now, as fintech matures and SaaS evolves, a second wave is taking shape. Now, as fintech matures and SaaS evolves, a second wave is taking shape. This is SaaS fintech v2.0. In contrast, SaaS fintech v2.0 SaaS fintech v2.0
With IPO readiness and strategic expansion on the horizon, PayTabs is building a future-proof fintech enterprise for the AI era. The post PayTabs Group Achieves Fintech Dominance With Its Saudi Built, AI-Powered Payment Orchestration Platform appeared first on FF News | Fintech Finance.
billion post-money valuation, the company confirmed to TechCrunch on Wednesday. Digital banking startup Mercury has raised $300 million in primary and secondary funding at a $3.5
dtcpay has a strong track record of innovation and achievement in the fintech sector. The post dtcpay Announces Shift to Stablecoin-Only Payment Services by 2025 appeared first on Fintech Singapore. This surge highlights the increasing demand for stability and reliability in digital payments.
Sethaput Suthiwartnarueput, Governor of the Bank of Thailand , recently addressed the Singapore Fintech Festival, sharing insights on Thailand’s advancements in digital finance. The post Thai Governor Highlights Data, Cross-Border Payment Initiatives at SFF 2024 appeared first on Fintech Singapore.
The post Cross-Border QR Payments Now Live Between Vietnam and Laos appeared first on Fintech Singapore. Beyond facilitating everyday transactions, this system is expected to enhance people-to-people connectivity by simplifying cross-border payments for tourism, consumption, and personal exchanges.
Chinese tech giant Tencent and Visa announced a new partnership to bring palm recognition payments to international markets at the Singapore Fintech Festival. The post Tencent and Visa Roll Out Palm Payment Trial in Singapore appeared first on Fintech Singapore. said Adeline Kim, Visa Country Manager for Singapore & Brunei.
Featured image credit: Edited from Freepik The post India in Talks to Forge New Cross-Border Payment Linkages, Says RBI appeared first on Fintech Singapore. India’s efforts signal its growing influence in shaping the global financial ecosystem, particularly through innovations in payment infrastructure and digital currency frameworks.
In a company blog post announcement, Plaid CEO and Co-Founder Zach Perret said that the funds will be used “to address employee tax withholding obligations related to the conversion of expiring restricted stock units (RSUs) to shares, and to offer some liquidity to our current team.” Once valued at $13.4 Revenue is much higher.”
.” The new crypto payment solution will be demonstrated at the Singapore Fintech Festival from 6-8 November 2024, where Ingenico will provide a live showcase at its booth.
Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik The post DBS Mobile Banking Services Hit by Second Outage in 2025 appeared first on Fintech Singapore. DBS previously reduced the compensation of its former CEO, Piyush Gupta, in response to persistent technical failures.
Morgan (formerly Onyx) to enhance cross-border payment accuracy in Malaysia, Thailand, and Hong Kong, This makes Nium the first fintech to provide data for validating bank account details in these markets. The post Nium, Kinexys by JP Morgan Enhance Cross-Border Payment Accuracy in Asia appeared first on Fintech Singapore.
The post XTransfer Gets Green Light for Singapore Payment License appeared first on Fintech Singapore. We remain committed to our goal of helping SMEs efficiently engage in global trade and enhance their competitiveness on a worldwide scale through technology. said Bill Deng, Founder and CEO of XTransfer.
XTransfer, a B2B cross-border payment platform, made its debut at the Singapore Fintech Festival (SFF) 2024 as a Gold Sponsor. Bill Deng “We are very pleased to participate in the Singapore Fintech Festival. ” said Bill Deng, Founder and CEO of XTransfer.
Outlined under Decree 94 issued on 29 April, the initiative introduces a regulatory sandbox for fintech innovations in the banking sector, set to begin on 1 July. The pilot is expected to guide future legislation while ensuring consumer protection in Vietnams growing fintech ecosystem.
As businesses and individuals increasingly seek faster and more reliable payment solutions, Thunes remains at the forefront of innovation, connecting the world’s leading fintech innovators, financial institutions, and marketplaces with the global financial ecosystem.” said Chloe Mayenobe, President and COO of Thunes.
EDP will cater to post-dated payments, deducting funds from the payer’s account upon presentment by the payee. Featured image credit: Edited from Freepik The post Singapore to Launch Two New e-Payment Solutions in Mid-2025 to Phase Out Cheques appeared first on Fintech Singapore.
However, the widespread adoption of smartphones, increased Internet penetration, and a booming startup ecosystem have broken down these barriers, fostering a thriving fintech landscape. Booming adoption of fintech Besides digital payments, other fintech innovations are also seeing increased usage and traction. rate in 2023.
Indonesian fintech company JULO has launched a new feature to ensure quick loan disbursement, introducing the “Instant Disbursement Guarantee.” By making sure that almost all transactions are completed on time, we’re setting a new standard for fintech reliability while building trust in digital financial services.”
Money20/20 Asia’s show focus, Empowering Humanity Through Collaboration: Pioneering Secure, Frictionless, and Sustainable Fintech Innovation in Asia, explores the future of finance and sustainable, collaborative fintech innovation. In 2025, Money20/20 Asia continues to evolve, bringing together top minds in banking and fintech.
Tenity, a global innovation ecosystem and early-stage fintech investor, is expanding its focus on decentralised finance (DeFi) through its Incubation Fund II. Through its Incubation Fund II, Tenity invests in fintech and insurtech at the pre-seed and seed stage via accelerator programmes in Zurich, Singapore, and Tallinn.
It underscores Visa’s commitment to supporting fintech innovation and financial inclusion in the region.” ” The post Cake by VPBank Leverages Visa for Cloud-Based Card Management appeared first on Fintech Singapore.
The post FOMO Pay Adds Vietnam to Cross-Border Network with Launch of VND Accounts appeared first on Fintech Singapore. The company facilitates business-to-business fund transfers across more than 100 countries and continues to grow its local payment network in key markets across Southeast Asia and beyond.
SC Ventures, Standard Chartereds fintech investment arm, has launched Labamu , an invoicing and billing platform for APAC small and medium enterprises (SMEs). Featured image credit: Edited from Freepik The post SC Ventures Launches Labamu to Aid APAC SMEs with Billing, Financial Tools appeared first on Fintech Singapore.
Featured image credit: Edited from Freepik The post Chainalysis Acquires AI Fraud Detection Firm Alterya appeared first on Fintech Singapore. Chainalysis plans to expand its team in Tel Aviv to further develop fraud prevention tools and build on Alteryas roadmap to improve security across global payment systems.
The post MAS Grants Gemini In-Principle Approval for Crypto Payment License appeared first on Fintech Singapore. The company is expanding its team in Singapore to support its growth and ensure adherence to local regulations. Gemini aims to continue its work with MAS to obtain the full MPI license.
Featured image: Governor Nguyen Thi Hong experiences the QR payment service in Siem Reap, Cambodia The post Vietnam and Cambodia Launch Cross-Border QR Payment Linkage appeared first on Fintech Singapore. Currently, the project involves Vietnamese banks BIDV, TPBank, and Sacombank, with plans to include more banks in the future.
Deutsche Bank has joined the extended Series B funding round for blockchain-based fintech firm Partior , bringing the total raised to US$80 million and marking the close of the round. The platform is expanding its presence across the Americas, EMEA, and Asia, collaborating with banks, central banks, and fintech firms to drive adoption.
Laust Bertelsen Laust Bertelsen, CEO of Banking Circle, said, “Australia is a strategic market for Banking Circle due to its significant cross-border trade flows and thriving banking and fintech ecosystem.
” The report highlights the transformative potential of CaaS in enabling banks and fintechs to become distributors of payment services to industries across the board, unlocking new revenue streams and driving growth in the digital economy.
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