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Swift, the global financial messaging service provider, is collaborating with Google Cloud to develop innovative anti-fraud technologies. Federated learning allows participating institutions to train AI models on their own data and share only the learnings, not the data itself, with a central server managed by Swift.
The State Bank of India (SBI) has partnered with APIX , a global innovation platform connecting financial institutions and fintechs, to launch the SBI Innovation Hub at the Singapore Fintech Festival. The hub will serve as a space for fintechs, startups, and innovators to create new financial solutions for SBI’s customer base.
These commitments set out an impactful programme of delivery as the regulator seeks to achieve world-leading payment systems where competition and innovation deliver secure, accessible, and value-for-money services that meet the needs of people and businesses. But we know theres more to do.
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 designed to evaluate emerging financial technologies under controlled conditions while balancing innovation with risk management.
Why do some embedded analytics projects succeed while others fail? We surveyed 500+ application teams embedding analytics to find out which analytics features actually move the needle. Read the 6th annual State of Embedded Analytics Report to discover new best practices. Brought to you by Logi Analytics.
For more than a decade, the government has tried to build its own digital identity and trust services infrastructure, but we found this was inefficient and would limit innovation. The UK Embassy in Armenia promotes trade and investment, innovation and climate initiatives, while also providing consular support to British nationals in Armenia.
Founded in 2010, the FinTech Innovation Lab New York, a 12-week programme founded and run by Accenture , the digital service provider, and the Partnership Fund for New York City , helps early- and growth-stage fintechs accelerate product and business development. Thirty-one of them have also been acquired.
The pilot program will begin in Singapore, allowing Visa cardholders from participating banks like DBS, OCBC, and UOB to pay with their palms at select merchants. Once registered, users can make future payments simply by waving their palm at participating merchants, eliminating the need for cards or phones.
However, strict regulations can sometimes stifle innovation, especially for fintech startups trying to disrupt the status quo. They are one of the most important tools regulators have introduced to support responsible financial innovation. Regulators select projects that show genuine innovation and clear consumer benefits.
Customers can make transfers to any of the Gulf banks that are AFAQ participants effectively without having to worry about currency fluctuations or delays in transfers. Weyay is the first digital bank in Kuwait, providing an innovative and convenient banking experience to its customers through an advanced digital platform.
The Bank for International Settlements ( BIS ) Innovation Hub announced that it has “graduated out” of Project mBridge. Carstens also highlighted Project Agorá as another major BIS Innovation Hub initiative.
The JV has the potential to accelerate stablecoins in the region as, individually, SCBHK, Animoca Brands, and HKT are all innovators in the payments and web3 space. Having participated in all of the HKMAs tokenised money projects over the past few years, SCBHK is excited to contribute to the growing digital asset ecosystem in Hong Kong.
Coinbase plans to hire country leaders in Thailand and the Philippines to coordinate with developers, regulators, and content creators, fostering innovation and adoption of blockchain-based solutions. This was enabled through Rubie , a baht stablecoin wallet developed by Siam Commercial Bank (SCB) in collaboration with Base.
Face-to-face conversational AI innovator eSelf has raised $4.5 The round was led by Explorer Investments, and featured participation from Ridge Ventures, as well as strategic angel investors. Photo by Angela Garca The post Conversational AI Innovator eSelf Secures $4.5 million in seed funding. million in seed funding.
.” Experian acquires debt consolidation technology from Paylink To help millions of consumers better manage their debts, international data and technology company Experian announced this week that it will acquire ReFi , the debt consolidation innovation from Paylink Solutions. million repeat purchases.
By enabling seamless international transactions, we are not only facilitating easier access to financial services but empowering individuals and businesses to participate more fully in the global economy. This ultimately contributes to the economic growth and empowerment of communities across the region.”
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.
This innovative approach uses federated learning techniques, combined with privacy-enhancing technologies (PETs), to enable collaborative intelligence without compromising proprietary data. Heres how it works for Swift: A copy of Swifts anomaly detection model is sent to each participating bank.
The UAE Cybersecurity Council has partnered with e& UAE , the telecoms arm of global tech group e&, to launch the Al Ain Innovation Centre, a new collaborative platform for applied research, talent development, and startup enablement.
This innovative system aims to streamline the disbursement of mobilisation advance payments to contractors, enhancing efficiency and transparency. This initiative builds on OCBC’s participation in Project Orchid , a Monetary Authority of Singapore initiative to develop infrastructure for a digital Singapore dollar.
Hosted by The Payments Association , this premier event brings together over 6000 innovators, thought leaders, and stakeholders to discuss the trends, technologies, and challenges defining the future of payments. Technological Innovations: Exploring blockchain, real-time payments, and artificial intelligence applications. Why Attend?
Payments organisations must balance immediate operational priorities with emerging long-term strategies, particularly around sustainability and innovation. It highlights how industry leaders are prioritising AI, cross-border payments, and digital currencies while grappling with regulatory, technological, and customer demands.
The goal is to attract investment and innovation, maintain Singapore’s competitive edge in the global arena, and expand financial inclusion. However, this embrace of the new is not without a cautious side, as Singapore carefully balances innovation with robust regulation and consumer protection.
Nacha’s Payments Innovation Alliance, a membership program bringing together diverse global stakeholders seeking to transform the payments industry, has published Diving into the Fundamentals of Cryptocurrency as a Form of Digital Payment. This resource outlines definitions, process flows and the role of participants in cryptocurrency.
Under the agreement, Visa and FPT will collaborate to enhance the national e-marketplace for procurement, encourage greater SME participation, and improve payment systems. The collaboration aims to foster ongoing cooperation and innovation in the public sector.
Merchants need to continue adapting to new payment methods, collaborate with industry peers, and stay agile in balancing innovation and regulatory compliance. As the payments ecosystem continues to evolve with innovations like open banking, instant payments, and tokenisation, merchants are facing a host of challenges and opportunities.
To develop tokenised investment products and services in Dubai, the Dubai Financial Services Authority (DFSA), the independent regulator of the Dubai International Financial Centre (DIFC), is inviting firms to express their interest in participating in the DFSAs Tokenisation Regulatory Sandbox.
INXY Payments , an EU-authorized payment platform bridging together traditional finance and the crypto economy, has successfully closed a $3 million investment round led by Flashpoint VC with participation from prominent angel investors. Were excited to expand our global presence and continue driving innovation in the crypto economy.
” “ABN AMRO is committed to supporting the growth of businesses with innovative financial services,” says Marc Baan , Head of Strategy & Innovation a.i. at ABN AMRO.
These partnerships aim to deliver innovative AI-supported cloud solutions and foster the growth of the digital ecosystem in these regions. Selina Yuan “At Alibaba Cloud, we believe that collaboration is the key to unlocking innovation and driving growth.
By leveraging innovative stablecoin technology, theyre leapfrogging outdated infrastructure to create a seamless, efficient, and inclusive cross-border payment system that reshapes how Africans connect with the global economy. Our growth in a short period of time reflects the underlying demand for better global payments.
And this innovation isn’t limited to point-of-sale terminals – it extends to e-commerce, too. Mesh’s latest innovation comes on the heels of its $82 million Series B fundraise, led by Paradigm, with participation from Consensys, QuantumLight Capital, Yolo Investments, and others.
Vietnam is undergoing a transformation and moving towards becoming a cashless economy, a shift that has been driven by innovative financial solutions and public initiatives, a new report by Chiming, a market research firm focusing on Vietnam and Indonesia, shows. E-wallets followed at 31%, ahead of bank cards at 18%.
Mastercards global network and innovative digital solutions, paired with Thought Machines next-generation core banking and payments platform, can enable financial institutions to accelerate the transition from legacy core banking and payment technologies to cloud-native ones and provide their customers with efficient, seamless banking experiences.
The delivery of VRP for sweeping functionality opens significant opportunities for fintechs to collaborate with these banking providers, introducing new and innovative financial services to their customers. By leveraging sweeping functionality, third-party providers (TPPs) can help drive the next wave of financial innovation.
By expanding its services to MeridianBet, Kuady is helping advance financial access and inclusion throughout Latin America, enabling more people to participate actively in the digital economy. By providing real-time deposits and withdrawals, were enhancing the customer experience, giving players more control over their funds.
OJK Strengthens Crypto Oversight with New Regulatory Sandbox Mandate The Indonesian Financial Services Authority (OJK) has mandated that all financial institutions launching new products, including those related to crypto assets, must participate in a regulatory sandbox. trillion (US$73.3
ATMIA selected Atleos for this honor based on these criteria: Long-term Positive Influence on Improving the Industry: Atleos has consistently driven advancements in the financial technology sector, setting new standards for innovation and customer satisfaction. We will continue to innovate and strive for excellence in all that we do.”
In many regions, they create jobs, drive innovation, and stimulate local economies. 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.
This new solution will connect Taurus -PROTECT clients to enhance collaboration with industry participants that are looking to rapidly adopt digital assets. Network participants retain control of their assets and never rely on Taurus to enter or unwind transactions. Instant transfer confirmation is also possible.
This session drew participants from diverse industries, including retail, travel, telecommunications and hospitality, each grappling with unique yet interconnected fraud challenges. The topic concluded with participants agreeing that fraud is no longer limited to traditional theft or hacking. This is a loophole that needs to be closed.
What is the level of interest in fintech innovation there? A recent example of this was with Hungary’s OTP, which in June 2023 became the first international player to participate in the privatization of the Uzbek banking sector, acquiring former state-owned Ipoteka Bank. There is a lot of talk about enabling technologies such as AI.
The ninth edition of the Singapore Fintech Festival (SFF) wrapped up on 8th November, concluding a dynamic week-long of celebration of fintech that brought together tens of thousands of participants from around the world. The year’s conference featured an impressive lineup of over 900 speakers across more than 400 sessions.
Participants will also engage in breakout groups to delve deeper into specific issues, providing an overview of how these innovative technologies are shaping the future of finance. Without proactive strategies, entire product lines or firms can fail in surprisingly short time frames.
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