Indonesia’s digital economy is not just growing; it is reshaping how millions transact every day. With strong consumer adoption, rapid digital payment growth, and coordinated infrastructure modernisation, the country is firmly positioned as Southeast Asia’s largest digital market through the next decade. According to Google–Temasek–Bain’s e-Conomy SEA research, Indonesia’s digital economy is projected to more than double to US$ 360 billion by 2030, fuelled by expansion in e-commerce, digital financial services, and a rapidly expanding base of connected consumers. At the centre of this transformation stands PT Jalin Pembayaran Nusantara (Jalin) – the institution quietly strengthening Indonesia’s national payment backbone. Jalin, established in 2016 through collaboration between Indonesia’s Ministry of State-Owned Enterprises, the Himbara banks (Bank Mandiri, BNI, BRI, BTN), and PT Telkom Indonesia, was designed to serve precisely this need. Under its “Link” brand, Jalin manages ATM, debit, and QR switching services – enabling withdrawals, balance inquiries, fund transfers, and bill payments across banking channels nationwide. The Ambition: Consolidation Without Compromise Jalin’s mission extended far beyond a technical system upgrade- it demanded a structural overhaul of Indonesia’s technology managing national ATM infrastructure and switching. The mandate included consolidating the ATM operations of four state-owned banks while preserving each institution’s functionalities and branding.  The Modernisation Imperative As Indonesia’s payment landscape rapidly expanded, Jalin confronted the growing limitations of having its entire workload on legacy systems amid rising transaction volumes and increasingly stringent regulatory expectations.  To support the nation’s next phase of digital growth, the company identified the need for a resilient and scalable modern payments platform and a credible partner with proven global expertise.  Following a rigorous, governance-aligned evaluation, Jalin found a perfect partner in Euronet for this strategic modernisation program.  The Turning Point: Implementation of a Modern Payments Platform https://fintechnews.sg/wp-content/uploads/2026/03/increment1.mp4 Euronet deployed its Ren payments platform – a microservices-based, cloud native architecture designed for modular growth. Unlike traditional monolithic systems, Ren allowed independent service deployment, granular customisation, and parallel development across multiple banks. Jalin now integrates new services and transaction type across ATMs, POS / QR payments, and connections to major card associations. The platform also manages clearing and settlement functions via APIs, enabling agile service rollouts.  The modernisation was implemented in phases, beginning with workload migration and cross-border QR payments with Thailand and Malaysia. Subsequent phases are expanding capabilities across products and geographies positioning Indonesia for deeper regional payment connectivity.  Measurable Impact The results have been tangible and immediate. Ario Tejo Bayu Aji, President Director of Jalin, shared that the transformation enabled: Redeployment of 4,500+ ATMs for wider reach in a record time. Up to 40% reduction in shared service costs 99.9%+ uptime in accordance with SLA commitments The redeployment of these ATMs alone significantly widened reach while lowering shared service costs. The modernisation program unlocked a new wave of digital payment capabilities across Indonesia, enabling seamless domestic and cross-border QR transactions, cardless cash withdrawals, and contactless payments nationwide. The initiative also delivered a major milestone for the country’s e-commerce ecosystem with the launch of Indonesia’s first EMV 3-D Secure solution for GPN online transactions, developed in partnership with Euronet’s Infinitium.  Ario described the initiative as foundational to Indonesia’s national digital strategy.  Regional Recognition In 2025, Jalin and Euronet received The Asian Banker Award for Best Retail Payments Initiative in Asia Pacific, recognising the scale and impact of the transformation across Indonesia’s national payment ecosystem. The National Digital Highway Vision Today, Jalin connects more than 100 banks and fintechs, positioning itself as Indonesia’s “National Digital Highway.” Looking ahead, Jalin is charting an ambitious roadmap to further strengthen Indonesia’s digital payment ecosystem. Key priorities include expanding QR cross-border connectivity to additional countries, introducing dynamic currency conversion to enhance traveller convenience, scaling cardless cash withdrawal services, and continuing to advance inclusive access to secure, modern digital payments for all Indonesians As Ario notes, collaboration with regulators, industry stakeholders, and partners such as Euronet is central to building a stronger, more inclusive, and globally connected Indonesian payments ecosystem. Conclusion: Innovation Within Regulation Jalin’s transformation – powered by modern architecture and strategic partnership -illustrates how national infrastructure, when modernised effectively, becomes more than a switch. It becomes a platform for financial inclusion, regional integration, and sustained digital growth. Indonesia’s payments evolution demonstrates that innovation and regulation can advance together.   Featured image: Edited by Fintech News Singapore, based on image by zendaIA via Freepik The post How Jalin Became Indonesia’s National Payments Backbone appeared first on Fintech Singapore.

Visa has launched a new authorisation capability for acquirers as payment processors handle more complex digital payment flows. The Visa Intelligent Authorisation is part of the Visa Acceptance Platform and allows banks and other financial institutions to process transactions across major card networks through a single API. Visa said this can reduce the need for costly infrastructure rebuilds. Authorisation sits at the core of digital payments, with acquirers sending transaction requests through card networks to issuing banks for approval or decline in seconds. Visa said legacy systems can struggle with higher volumes and more complex data, resulting in false declines, higher costs and limits on support for newer payment methods. The product can be used as an acquirer’s main processor or alongside existing systems. Visa said it delivers 99.999 percent uptime and a global average approval rate of 96.3 percent. The company said its machine learning engine analyses transaction data in real time to optimise routing decisions based on network rules, industry programmes and regional regulations. The system also includes risk alerts and a centralised portal with an analytics dashboard for oversight, settlement and regulatory compliance. Visa said demand for modern processing infrastructure is rising as digital wallets, stablecoins and newer forms of commerce, including agentic commerce, add to transaction volume and complexity. Axel Boye‑Moller “We’re entering a new era of commerce, where AI agents can act on behalf of consumers, stablecoins are reshaping settlement, and digital wallets are becoming the primary interface for payments. The opportunity is significant. But much of today’s infrastructure was built for a different generation of transactions. Visa Intelligent Authorisation is designed for this shift, delivering smarter decisioning across networks through a single integration. It is built for what’s happening now, and what’s coming next.” said Axel Boye‑Moller, Head of Value‑Added Services, Asia Pacific at Visa. Visa Intelligent Authorisation is now available to eligible acquirers through the Visa Acceptance Platform.     Featured image: Edited by Fintech News Singapore, based on image by user23413193 via Freepik The post Visa Launches Authorisation Tool for Acquirers as AI, Stablecoins Reshape Payments appeared first on Fintech Singapore.

Finance has long been one of the world’s most influential industries, and historically, one of its most male-dominated. The numbers still show a hole. Women account for 41% of fintech customers globally, according to the World Economic Forum. But across Asia’s halls, fintech startups and payment networks, the balance is shifting. Across Asia’s financial ecosystem, more women are stepping into positions where decisions about capital, technology, and financial access are made. Women today are leading digital banks, scaling payment infrastructure, shaping regulatory frameworks and building the technologies that millions rely on to move money every day. The change is becoming increasingly impossible to ignore. This International Women’s Day, we recognise the women shaping fintech across Asia in 2026. Top Fintech Female Leaders in Asia in 2026 These 12 leaders are building and scaling the fintech infrastructure that powers payments, lending, wealth, insurance, and cross-border commerce across Asia. Adeline Kim, Country Manager Singapore & Brunei, Visa Adeline Kim has spent over a decade at Visa, moving through some of its most strategic roles. These include the Head of Products for Southeast Asia, Head of Consumer Solutions and Loyalty for Asia Pacific, and Head of Data and Risk Solutions for Asia Pacific. Now, as Country Manager for Singapore and Brunei, she owns the full strategy, innovation roadmap, and P&L for both markets. Before Visa, Adeline worked extensively in Singapore across Citibank, UOB, and the Singapore Tourism Board. Holly Fang, President, Singapore Fintech Association As President of the Singapore FinTech Association, Holly leads the national industry body’s strategic direction across advocacy, business growth, capital access, and talent development. Concurrently, as Chief Business Officer at Finmo, she is driving global financial and strategic partnerships as the company builds out its international treasury and payments infrastructure. She has over a decade of experience in financial partnerships. Rachel Freeman, Chief Growth Officer, Tyme & Board Member, GoTyme As Chief Growth Officer at Tyme and board representative at GOtyme, Rachel leads the growth engine spanning Africa and Asia, translating that conviction into scale, with millions of customers reached across South Africa and the Philippines. Before Tyme, focused on driving financial inclusion and fintech innovation at the IFC across emerging markets. Martha Sazon, President & CEO, GCash Under Martha Sazon, GCash became a financial lifeline. Since taking the helm as President and CEO of Mynt, she has driven GCash’s expansion from mobile payments and remittances into savings, investments, and digital solutions that have brought millions of previously unbanked Filipinos into the financial fold. With over 20 years of experience spanning consumer, finance, technology, and telecommunications across global markets, Sazon brings a rare cross-industry range into her role. Jeeta Bandopadhyay, Co-Founder & COO, Tookitaki Jeeta Bandopadhyay has grown Tookitaki from a startup into a global regtech company with over 100 employees. Her expertise in the space has earned her a spot among the Emerging 35 in the Fintech Frontiers 50 awards for 2025, as well as a place as one of the 10 leaders celebrated in the Singapore FinTech Association’s 10 Years, 10 Voices report.  Caecilia Chu, Co-Founder and CEO, YouTrip Caecilia Chu co-founded YouTrip to solve a simple but costly problem: the hidden fees and markups that made spending across borders needlessly expensive. The result was a multi-currency e-wallet that lets users hold and spend in over 150 currencies at real-time wholesale rates, built on a bank-grade platform. Today, YouTrip operates across Singapore, Thailand, and, recently Australia. Off the clock, Chu channels her energy into education, youth, and women’s leadership, causes that mirror her own story as the daughter of a postman and kindergarten teacher from Hong Kong. She sits on the boards of YouthTech SG and the International Women’s Forum Singapore. Tessa Wijaya, Co-Founder and COO, Xendit Tessa Wijaya has helped build Xendit into one of Southeast Asia’s most recognised payment infrastructure companies. Now, it is dubbed the “Stripe of Southeast Asia”, with over $500 million raised and billions in annual payments processed across Indonesia, the Philippines, and beyond. Under her leadership, Xendit has achieved a 40% female workforce. She has been featured in Forbes Asia’s Power Businesswomen list and J.P. Morgan’s Top 100 Asia-Pacific Women-Powered Businesses 2021. Oi-Yee Choo, CEO, Climate Impact X Oi-Yee Choo has spent 25 years moving through Citigroup, Morgan Stanley, Nomura, and UBS before taking the helm at ADDX, where she grew the blockchain-based private capital markets exchange to over US$1 billion in tokenised securities, one of the largest figures worldwide. Now, as CEO of Climate Impact X (CIX), she is in a new frontier: building the exchange infrastructure that accelerates environmental impact at scale through carbon markets. CIX is backed by DBS Bank, Mizuho Financial Group, Singapore Exchange (SGX Group), Standard Chartered and Temasek. Fernn Lim, Chief Operating Officer, audax As Chief Operating Officer at audax, the digital banking platform spun out of Standard Chartered, Fernn Lim deputises the CEO and oversees everything from board engagement and legal to growth strategy and multi-market expansion. Beyond audax, Fernn is actively working to shift the numbers on female representation in financial institutions and boardrooms through her involvement with BoardAgender by SCWO, Deloitte’s Board Ready Women, and Money20/20. Cindy Kua, Co-Founder & CEO, Sunday Before co-founding Sunday in 2017, Cindy Kua had already moved through two distinct worlds: corporate M&A law at Rahmat Lim & Partners in association with Allen & Gledhill, where she worked on significant financial services transactions across Southeast Asia, and operational transformation across non-life insurance companies in Thailand and Indonesia. That rare combination of legal, strategic, and operational experience is what she channelled into Sunday, a fully integrated data and technology platform offering real-time, customised, and affordable non-life insurance products in Thailand. Within three years of launch, Sunday had broken into the country’s top 20 non-life insurance companies in the health segment. Hooi Ling Tan, Former Co-Founder, Grab As co-founder of Grab, Hooi Ling Tan helped build what became one of Southeast Asia’s most transformative tech platforms, turning on-demand transport into a regional superapp that redefined how millions of people move, pay, and access services. While she has since stepped out from her role at Grab, her impact on the region’s startup ecosystem is hard to ignore. She now channels that experience as a global board member at Endeavor, backing the next generation of high-impact entrepreneurs. Amanda Ong, Arta Finance CEO, Singapore As Singapore CEO and Global Head of Partnerships at Arta Finance, Amanda Ong has made collaboration the engine of digital wealth management. She has driven partnerships with the Bank of Singapore and Hong Leong to equip financial advisors with AI-enabled tools, and worked with Income Advisory FA to introduce a platform built for high-net-worth clients. Leadership That Mirrors the Market As the industry navigates AI, digital assets, financial inclusion, and cross-border complexity, the question is no longer whether women belong in finance’s highest ranks. The more urgent question is how much further and faster the ecosystem can evolve when leadership reflects the diversity of the markets it serves. When decision makers understand different customer realities, income patterns, and behavioural needs, innovation becomes sharper and inclusion more intentional. The women leading across payments, digital banking, regtech, wealth, and other fintech segments are shaping the architecture of Asia’s financial future, ensuring that growth and resilience are built into the system from the start. Featured image edited by Fintech News Singapore based on image by ismode on Freepik The post Top Women in Fintech in Asia (2026) appeared first on Fintech Singapore.

AmMetLife Insurance announced that it has appointed Wan Saifulrizal Wan Ismail as its new CEO. He succeeds Rangam Bir, who has left the company to pursue other opportunities. Wan has nearly 30 years of experience in the insurance and takaful sectors. His career includes roles as a regulator, actuary and senior leader across insurance and takaful organisations. Wan has also served as Chairman of the Malaysian Takaful Association. Elena Butarova Elena Butarova, MetLife’s Regional Head for Bangladesh, Malaysia, Nepal and Vietnam, said, “Wan brings a strong combination of actuarial insights, deep industry experience, and commercial leadership to AmMetLife, at a time when protection and health needs in Malaysia are evolving rapidly. We are confident he will lead the company with focus and purpose in its next chapter.” Wan Saifulrizal Wan Ismail Wan added, “Now more than ever, Malaysians are looking to build a more confident future. I’m excited to be leading AmMetLife as we continue to share the benefits of insurance, health protection, and sound financial planning to millions of Malaysians.” AmMetLife was established in 1973 as AmLife Insurance Berhad and is among the longer operating insurers in Malaysia. The company is a joint venture between AmBank Group and MetLife, which provides insurance, annuities, employee benefits and asset management services globally.     Featured image: Edited by Fintech News Malaysia, based on image by lifeforstock via Freepik The post AmMetLife Insurance Appoints Wan Saifulrizal as CEO appeared first on Fintech Singapore.

Leadership in Asian banking has never been a path of least resistance, especially for women. It has required navigating cultural expectations that weren’t designed with them in mind, systems that were, and the relentless pressure of competing in some of the world’s most demanding financial markets. And yet, the most consequential decisions in Asian banking today, like steering digital transformation, managing the region’s historic wealth transfer, and building the infrastructure that will define the next decade of finance, are being made by women. Women who have earned their seats through decades of expertise. From the CEOs of multinational giants to the architects of Asia’s most disruptive fintechs, these are the female leaders driving the region’s financial future. Top Banking Female Leaders in Asia in 2026 These 11 leaders sit at the helm of some of Asia’s most influential banks and financial institutions, leading from vantage points like digital transformation to capital markets and sustainable finance. Tan Su Shan, CEO, DBS Group While her experience spans over 35 years across consumer banking, wealth management, and institutional finance in Singapore, Hong Kong, Tokyo, and London, perhaps what defines Su Shan most is what she built outside of it. In 2001, she founded the Financial Women’s Association of Singapore, a non-profit dedicated to developing and mentoring women in finance. She is actively involved in charitable causes across Singapore. Ng Wei Wei, CEO, UOB Malaysia A career banker with over two decades across senior country and regional roles at global financial institutions in Asia, Ng Wei Wei leads with results and intention. Under her watch, UOB Malaysia has claimed Malaysia’s Best Bank at Global Finance’s World’s Best Bank Awards 2025 and both Best Bank and Best Sustainable Bank at the 2025 FinanceAsia Awards. Bonnie Y Chan, CEO, Hong Kong Exchange and Clearing Limited (HKEX) With over 30 years of global capital markets expertise, Bonnie Y Chan has played a vital role in transforming Hong Kong Exchange and Clearing Limited (HKEX) into a leading global exchange group. Chan is a regular voice at the World Economic Forum and a member of its Centre for Financial and Monetary Systems Advisory Council. Pei Si Lai, Group CEO, GXS Bank Pei-Si Lai Pei Si Lai has 25 years of international banking experience across Singapore, Brunei, and Malaysia, covering consumer and corporate finance, product management, governance, and operations. As a founding member of GXBank, she led the build from scratch and launched Malaysia’s first digital bank in 2023. She now serves as the Group Chief Executive Officer of GXS Bank. Ye-Chin Chiou, Chairperson, First Bank & First Financial Holding As Chairperson of First Bank and First Financial Holding, Ye-Chin Chiou is said to be the only female chairperson of a state-controlled financial institution in Taiwan, according to the Tatler Asia. Under her purview, First Bank has retained its position as an SME loan leader for 13 consecutive years. Ana Maria A Delgado, Executive Director, UnionBank Ana Maria Aboitiz-Delgado is a UnionBank original. She started as a Product Manager in Retail Banking and worked her way up through institutional banking, customer experience, SME lending, and consumer finance before taking the top seat. That experience across the bank’s own DNA is what makes her leadership distinct. Today, she sits at the helm of UnionBank as President and CEO, while also serving as Director across City Savings Bank, UnionDigital Bank, and publicly listed Aboitiz Equity Ventures. Vera Eve Lim, MD and CFO, PT Bank Central Asia As Director and CFO of PT Bank Central Asia (BCA), one of Indonesia’s largest banks. Since 2018, Vera Eve Lim has overseen many things. She takes charge of corporate planning and strategy, investor relations, communications, and governance, all while steering the bank’s growing ESG investment agenda. It’s a wide portfolio, and one she has held with authority for nearly a decade. Maggie Ng, CEO, HSBC HK (Hong Kong) Maggie Ng joined HSBC in 2020 as Head of Wealth and Personal Banking, Hong Kong, and has since overseen significant growth in what is HSBC’s largest retail banking and wealth management market. With over 20 years in finance, her expertise cuts across wealth management, digital transformation, customer advocacy, and risk. She now holds dual responsibility: as CEO of HSBC Hong Kong and as the Head of Retail Banking & Wealth in the organisation. Lynette V. Ortiz, President & CEO, Landbank of the Philippines Lynette V. Ortiz has spent over three decades building one of the most well-rounded banking careers, accumulating deep expertise in risk management, treasury, corporate finance, and capital markets across major global and domestic institutions. Now at the helm of Landbank, a P3.4 trillion institution, Ortiz leads with clear intent: to sustain stronger capital and a commitment to serving clients efficiently and on time. Kattiya Indaravijaya, CEO, KASIKORNBANK Kattiya Indaravijaya is a trailblazer. She is the first non-family and one of the first female CEOs among top-tier banks in Southeast Asia. Her story with KASIKORNBANK began in 1987 as a fresh recruit, before a KBank scholarship took her abroad and brought her back, committed. Over three decades, she has moved across corporate strategy, digital transformation, investment banking, retail, finance, marketing, and HR. Under her watch, KBank has cemented its position in Thailand across digital payments, mobile banking, and wealth management. Raja Teh Maimunah, incoming CEO, Bank Islam YM Raja Datin Paduka Teh Maimunah Raja Abdul Aziz will close out her tenure as CEO of AEON Bank in March 2026 before stepping into her next chapter as Group CEO of Bank Islam Malaysia, effective 1 April 2026. With 30 years across the financial sector, including senior roles at AmBank Group and Hong Leong Islamic Bank, her credentials are formidable. But perhaps her most defining mark came at Bursa Malaysia, where she is said to have pioneered the world’s first Shariah-compliant commodity trading platform. Redefining Power at the Helm of Asian Banking From the pioneering Shariah-compliant platforms of Raja Teh Maimunah to the digital-first move of Pei Si Lai, these executives are proving that the future of banking is about moving society. As we look toward the remainder of 2026 and beyond, the influence of these women will only deepen. They are ensuring that the ladder they climbed remains sturdy for the next generation. More importantly, they are normalising female leadership at the highest levels of banking, ensuring that the path upward is no longer an exception but an expectation for the generation that follows. Featured image edited by Fintech News Singapore based on image by mkmult on Freepik The post Top Women in Banking in Asia (2026) appeared first on Fintech Singapore.

Singapore is one of the world’s strategic financial hubs and the Asia-Pacific’s pivotal financial industry node. Home to one of the strongest financial exchanges globally, Singapore is well known for its Tier-1 regulatory framework, cutting-edge infrastructure, and business-friendly environment. Its geographical location, political stability, and robust financial and economic sectors have contributed to the city-state’s positioning as the go-to destination for banking, asset and wealth management, hedge funds, and prime brokers. This has contributed to the spectacular growth of Singapore’s financial services sector.  In early 2025, the market capitalisation of the Singapore Exchange (SGX) exceeded US$644 billion, making regional competitors like Bursa Malaysia (US$400 billion), the Thailand Stock Exchange (US$500 billion), and the Indonesia Stock Exchange (US$600 billion) look petty by comparison. Against this backdrop, the selection of Singapore as the headquarters for APAC’sFinance Magnates Summit could not have been more strategic. Debuting this May, the Finance Magnates Singapore Summit will be held between 12 and 14 , bringing together retail and prime brokers, liquidity providers, banks, hedge funds, wealth and asset management firms, EMIs, and PSPs at Suntec Singapore. As registrations for the Finance Magnates Singapore Summit 2026 are now officially open, industry professionals are invited to confirm their participation and secure their place at one of Asia’s most promising summits for financial services. So, why wait? Register your interest today. Participants can expect three days filled with networking, high-calibre industry sessions, and an exhibition displaying thought-provoking trading technologies, liquidity solutions, as well as the most advanced regtech and fintech products. Every reason to attend FM Singapore Summit 2026 For years, Finance Magnates Summits have served as venues for high-level collaboration in the financial industry. The first edition of the Singapore Summit sets the stage for nothing less than upscale deal-making. Attending the Finance Magnates Singapore Summit 2026 helps financial industry players unlock unique insights and identify exclusive opportunities across the entire Asia-Pacific region.. Register now if you wish to: Understand how brokers perceive VIP clients (beyond deposit size) Identify the specific services, products, and benefits that boost trust and increase lifetime value (LTV) Access offerings designed for scale without increasing overheads and operational friction Discover how leading brokers grow premium segments and what’s next Unlock practical strategies, real-world case studies, and scalable models that deliver tangible results. Laying the groundwork for business The Singapore Summit will kick off at 17:30 (GMT+8) on May 12, with the Opening Networking Event at the Paulaner Brauhaus . This exclusive social gathering will offer attendees the opportunity to break the ice and exchange ideas with FX and fintech decision-makers in a less formal setting before getting down to business at the exhibition scheduled for the following day. The FM Singapore Summit will officially open its doors on May 13 at 9:00 AM at Suntec, were anyone missing the online registration timeline can register onsite, and online registrants can collect their attendee badge. The badge gives access to the expo, the tailored conference sessions, the high-end FX roundtables, and much more. The Conference: A stage for sharing real insights In parallel with the deal-making expo, the FM Singapore Summit promises 2 days of live industry sessions and panel discussions featuring FX and fintech industry thought leaders. Some of the hottest topics to be tackled include: Gold Rush? APC View of The Liquidity Landscape AI Gets Real for Brokers The Revolution WILL Be Tokenised Country in Focus: Singapore Join The Club: What Premium Clients Want All the topics have been carefully curated and grouped into a thought-provoking agenda designed to offer solutions, not to leave you with more questions.  If you’re expanding to APAC or looking to solidify your position in the region, the Finance Magnates Singapore Summit 2026 is the place to be. Join industry leaders to be a leader yourself! Secure your place today.   Featured image by FM Singapore Summit The post Finance Magnates Announces First FM Singapore Summit: Registrations Now Open appeared first on Fintech Singapore.

Grab plans to double the voting rights attached to its Class B shares, a proposal that could raise CEO Anthony Tan’s voting power to nearly 75 percent. The company will hold an extraordinary general meeting on Mar 24 to seek shareholder approval for the change, according to a circular reviewed by The Business Times. The resolution would increase the votes attached to each Class B share from 45 to 90. Grab said Tan held about 59.1 percent of the company’s total voting power as at Jan 31, including proxy arrangements. If the proposal is approved and no further share conversions take place, his voting power could rise to as much as 74.9 percent. The resolution requires support from more than two thirds of valid votes cast. Grab said it expects other Class B shareholders, including co-founder Tan Hooi Ling and former president Ming Maa, to convert their shares into Class A shares if the resolution is approved. Class A shares carry one vote each. The company said the proposal is intended to ensure that Tan retains majority voting control even if those conversions take place. In that scenario, his voting power would still stand at about 69.4 percent. Grab’s board has recommended that shareholders vote in favour of the resolution, saying the move would help reinforce the company’s capital structure and support its long-term growth plans. The circular also pointed to regulatory considerations tied to Grab’s digital bank joint venture with Singtel. Grab added that Tan’s majority voting control is needed to satisfy Monetary Authority of Singapore requirements that the venture remain under the control of a Singaporean. The extraordinary general meeting will be held virtually at 11.45 am on 24 March.     Featured image: Edited by Fintech News Singapore, based on image by Frolopiaton Palm via Freepik   The post Grab Proposal Could Lift CEO Anthony Tan’s Voting Power to Nearly 75% appeared first on Fintech Singapore.

OxPay has teamed up with Liquid Group to broaden QR wallet acceptance for merchants in Singapore. The partnership will integrate Liquid Group’s RoamQR payment network into OxPay’s payment platform. RoamQR connects banks, wallets and payment providers across markets, allowing merchants to accept payments from a wider range of regional e-wallets. Liquid Group developed RoamQR from the Monetary Authority of Singapore-backed SGQR+ initiative. The network links Singapore’s payment ecosystem with partner national QR systems and supports QR payments from mobile wallets including those from China, Cambodia, Vietnam and South Korea. Through the integration, OxPay merchants will also be able to accept additional payment methods such as India’s Unified Payments Interface through OxPay’s existing payment integrations. The companies said the expanded acceptance could help merchants capture more spending from international visitors who prefer to pay using familiar wallet apps from their home markets. OxPay also expects the move to strengthen its merchant acquiring business and support growth in total payment processing volumes. Chin Mun Chung Chin Mun Chung, Executive Director and Chief Executive Officer of OxPay, said, “Merchant acquiring remains essential to driving the Group’s growth. We believe delivering value-added and differentiated services is essential to enhance merchant loyalty and to expand our market share in a competitive landscape. To that end, Liquid Group is a natural strategic partner as its established RoamQR platform complements and enhances OxPay’s existing payment acceptance capabilities.” OxPay is also exploring opportunities to deploy RoamQR in overseas markets where it holds payment licences, targeting tourism-driven digital payment growth across parts of Asia. Jeremy Tan Jeremy Tan, Chief Executive Officer of Liquid Group, said, “Through RoamQR, Liquid Group provides the network layer that connects national QR schemes, acquirers and wallets across markets. Our partnership with OxPay extends this interoperability directly to merchants in Singapore and, over time, to OxPay’s regional markets. This allows us to scale real-world QR usage across travel corridors while supporting merchants in capturing inbound tourist spending more effectively.”     Featured image: Edited by Fintech News Singapore, based on image by pe_jo via Freepik   The post OxPay Taps Liquid Group to Expand Regional QR Wallet Acceptance appeared first on Fintech Singapore.

Across Asia-Pacific (APAC), e-commerce merchants are missing out on billions of dollars each year due to cart abandonment, foreign exchange (FX) costs, and settlement delays. Cross-border payment firm Payoneer estimates that these inefficiencies collectively represent an estimated US$72 billion in annual value exposure across key APAC markets. Cart abandonment, where buyers abandon checkout when authorization attempts fail, preferred payment methods are unavailable, transactions are declined by issuers, or final pricing outcomes change unexpectedly at the point of payment, accounts for an estimated US$28.53 billion annually in India, Singapore, Vietnam, Thailand, Pakistan, and South Korea. This represents almost 40% of total leakage and is the largest single source of lost revenue. FX, payment costs, and conversion leakage arises as a cross-border transaction moves through payment service providers (PSPs), card networks, FX providers, and correspondent banks. Each of these intermediaries retains a share of value, eroding margins, and slowing liquidity. Payoneer estimates that this creates an estimated US$25.96 billion in annual value exposure, representing 36% of total leakage. Finally, settlement delays trap cash in transit for days or weeks as funds pass through PSPs, acquiring banks, correspondent banks, and platform payout schedules. This results in losses of an estimated US$17.7 billion annually, accounting for 24.6% of total leakage. Quantifying the leakage in APAC, Source: The USD 72 Billion Unseen Cost, Payoneer, Feb 2026 Recommendations for reducing leakage Though Asia already drives 62.6% of global e-commerce growth, according to marketing research firm NielsenIQ (NIQ), e-commerce merchants can unlock additional cross-border trade by replacing fragmented processes with controlled, end‑to‑end systems. Payoneer identifies four stages to follow. First, merchants must identify where value leaks across the payment settlement lifecycle, and pinpoint failed or downgraded transactions. Next, they must modernize money flow by consolidating intermediary relationships and automating reconciliations, thereby achieving end‑to‑end control. Third, e-commerce merchant must strengthen acceptance by integrating local payment methods in each market, and showing prices in the shopper’s native currency, turning checkout into a conversion advantage. Finally, merchants should focus on accelerating liquidity by allowing for funds to be moved across borders in minutes rather than days. They should also hold and deploy currencies intentionally, and maintain real‑time visibility into liquidity and settlement. By adopting these practices, Payoneer says merchants can substantially reduce cart abandonment, minimize FX and payment‑related leakage, and eliminate settlement‑delay losses, unlocking significant revenue potential across the APAC region. Market outlook APAC is home to some of the world’s biggest e-commerce markets, like China and South Korea, alongside the fastest-growing Southeast Asian economies. According to the e-Conomy SEA 2025 report by Bain, Google and Temasek, e-commerce gross merchandise value (GMV) reached US$185 billion across Southeast Asia’s ten biggest economies in 2025, marking a 19% increase over the previous year. Forecasts project GMV to surge to US$359 billion by 2030. E-commerce GMV and recenue in ASEAN, Source: e-Conomy SEA 2025 Report, Google, Temasek, Bain, Nov 2025 Video commerce is emerging as a major driver of the region’s e-commerce market, now accounting for roughly 25% of total GMV, up from just 5% in 2022. By merging video content with shopping experiences, video commerce creates engaging online shopping experiences, boosting conversion rates. A global Nielsen MMM meta analysis shows that YouTube drives 2.3-times higher long-term return on ad spend than paid social. Adoption among merchants is also soaring. In 2025, the number of sellers and stores in the region using video surpassed 3 million, marking a 80% year-over-year (YoY). Video commerce in Southeast Asia, Source: e-Conomy SEA 2025 Report, Google, Temasek, Bain, Nov 2025   Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik The post APAC E-Commerce Merchants Lose US$72B Annually to Inefficiencies appeared first on Fintech Singapore.

DBS CEO Tan Su Shan received S$9.6 million in FY2025 pay, while predecessor Piyush Gupta received S$4.2 million for the same year, according to a report by The Edge. Tan took over as CEO on 28 March 2025, becoming the first woman to lead Singapore’s largest bank after Gupta stepped down following more than 15 years in the role. Gupta’s FY2025 compensation reflects the period he served before the leadership transition. The leadership handover followed a strong final full year under Gupta, with DBS posting a record net profit of S$11.4 billion for FY2024. Gupta had also taken a 30 percent cut to his 2023 variable compensation, reducing his payout to about S$4.14 million, after a series of digital banking disruptions triggered regulatory scrutiny and affected customers in Singapore. Tan’s compensation package included a base salary of S$975,250, a cash bonus of about S$3.7 million and deferred awards worth around S$4.9 million. She also received S$68,694 in non-cash benefits such as club, car and driver privileges. About 17 percent of the deferred awards will be paid in cash, with the rest delivered in shares over time. DBS’s latest pay disclosure comes after a mixed set of results for FY2025. The bank reported net earnings of about S$11 billion, down 3 percent from the previous year and slightly below analyst expectations. Fourth quarter profit fell 10 percent year on year to S$2.36 billion. Even so, the bank recorded new highs in several areas. Total income rose to S$22.9 billion while profit before tax reached S$13.1 billion. Return on equity stood at 16.2 percent. Looking ahead, Tan has indicated that DBS will continue expanding businesses such as trade finance, payments, wealth management and tokenisation, while using artificial intelligence (AI) more widely to improve efficiency and support growth.     Featured image: Edited by Fintech News Singapore, based on image by Rashed_stock via Freepik The post Tan Su Shan’s 2025 Pay Totals S$9.6 Million in First Year as DBS CEO appeared first on Fintech Singapore.

Standard Chartered has appointed Karby Leggett Head of Digital Assets covering Greater China North Asia, South Asia and ASEAN. The role forms part of the bank’s Digital Assets Centre of Excellence. Karby Leggett It expands Leggett’s current responsibilities as Global Head of the Official Institutions Group within the Global Research team. The appointment comes as interest in digital assets continues to grow across Asia. Governments, central banks and financial institutions are exploring the potential of technologies such as cryptocurrencies, tokenised assets, tokenised deposits, stablecoins and central bank digital currencies. As adoption increases, engagement between the official sector and the digital assets ecosystem is also expanding, with institutions examining how these technologies could reshape financial infrastructure and business models. In a joint statement, Global Head of Research and Chief Strategist Eric Robertsen and Global Head of Digital Assets Rene Michau said, “Karby’s extensive experience working with governments, multilaterals and other official sector stakeholders position him to accelerate our Digital Assets strategy, deepen our leadership, and support delivery of innovative solutions for our clients across Asia.”     Featured image: Edited by Fintech News Singapore, based on image by Who is Danny via Freepik   The post StanChart Appoints Karby Leggett to Lead Digital Assets Across Asia appeared first on Fintech Singapore.

Statrys, a fintech offering business accounts for SMEs, is waiving foreign exchange (FX) fees for a limited period to mark International Women’s Day. From 8 March to 8 April 2026, Statrys will offer 0% FX fees for one month to eligible Singapore businesses opening a Statrys Singapore Business Account. These companies must have at least one female shareholder or director to qualify. The initiative applies to Statrys Singapore Business Accounts for companies incorporated in Singapore, Hong Kong, or the British Virgin Islands that meet the eligibility criteria. Statrys said the campaign aims to extend International Women’s Day into a month-long initiative recognising women in business. Cross-border payments are a routine part of operations for many businesses, particularly those paying overseas suppliers, receiving international revenue, or managing regional operations. Foreign exchange fees can therefore become a common friction point in international business transactions. Béatrice Theaud Béatrice Theaud, Co-founder and COO of Statrys, said, “The system wasn’t built for us. Ours is. Many financial tools still reflect how businesses operated decades ago, not how entrepreneurs really work today. At Statrys, we believe financial services should be straightforward and transparent. This Women’s Day, we are offering 0% FX costs for one month for eligible Singapore businesses opening a Statrys business account. Real rates, simple pricing, and no fine print.”     Featured image: Edited by Fintech News Singapore, based on image by Juan J. J. Labrador via Freepik The post Statrys Offers One-Month FX Fee Waiver for Businesses With Female Leaders appeared first on Fintech Singapore.

Finastra has introduced an AI tool aimed at speeding up how banks investigate and resolve payment errors. The solution, called OperatorAssist, is available as an additional capability within the company’s payment hub user interface. It is designed to reduce errors, speed exception handling and lower operational costs across the payments lifecycle. Payment errors and inefficient exception handling remain among the most time consuming and costly challenges in payments operations. OperatorAssist aims to address these issues by automating analysis, recommending fixes and guiding users through resolution while reducing reliance on manual tracking and reporting. Finastra said early results indicate the technology could deliver potential efficiency gains of more than 20 percent by reducing the time required to handle payment investigations. Barry Rodrigues Barry Rodrigues, EVP, Payments at Finastra, said, “By combining AI with a cloud-native, ISO 20022-native platform, we’re removing friction from daily operations and empowering institutions with faster, smarter ways to resolve issues. Delivering speed, accuracy, and superior customer experience, this isn’t just an incremental improvement but a step-change in how payments teams work.” According to the company, the technology can reduce manual investigation time by between 20 and 30 percent, saving operators more than 1.5 hours per day. According to the company, the technology can reduce manual investigation time by between 20 and 30 percent, saving operators more than 1.5 hours per day. OperatorAssist is available to users of Global PAYplus and Payments To Go, extending Finastra’s cloud native payments infrastructure with optional AI functionality aimed at improving operational efficiency and     Featured image: Edited by Fintech News Singapore, based on image by farknot via Freepik The post Finastra Rolls Out AI Tool to Help Banks Investigate Payment Errors appeared first on Fintech Singapore.

Interest is emerging around UOB Asset Management as its parent firm reviews options for the business. Bloomberg reported that Amundi, KKR and Seviora are among firms exploring a potential investment in the unit. A key issue in the discussions is how much of UOB’s distribution network in Southeast Asia would be included in any transaction. The network provides asset managers with access to the bank’s retail and wealth clients across several regional markets, making it an important part of the deal structure. People familiar with the matter said the bidders have submitted non-binding offers for the asset management business. Discussions remain ongoing and there is no certainty a deal will be reached. Additional bidders could also emerge. UOB said it does not comment on market speculation and remains focused on delivering long term value to shareholders while meeting evolving customer needs. Amundi, KKR and Seviora declined to comment. Seviora operates as an asset management platform backed by Temasek Holdings. The Singapore lender has been reviewing options for the business, including a potential sale, as part of a broader portfolio review. Earlier reports suggested the unit could be valued at several hundred million US dollars. Founded in 1986, UOB Asset Management oversees about US$41 billion in assets and operates in Singapore, Brunei, Indonesia, Japan, Malaysia, Taiwan, Thailand and Vietnam.     Featured image: Edited by Fintech News Singapore, based on image by UOB The post UOB Said to Explore Sale of Asset Management Arm as Bidders Emerge appeared first on Fintech Singapore.

OKX is now valued at about US$25 billion after receiving a minority investment from Intercontinental Exchange (ICE), according to Reuters. ICE, the parent company of the New York Stock Exchange, has been expanding its presence in digital assets through several strategic investments. As part of the partnership, ICE will license OKX spot cryptocurrency price data and plans to launch U.S.-regulated futures tied to those markets. In turn, OKX will distribute ICE’s U.S. futures and tokenised equities products to its global user base, which the exchange says exceeds 120 million users. ICE will also receive a seat on OKX’s board. Financial terms of the investment were not disclosed. The deal follows ICE’s recent investment in prediction market platform Polymarket, reflecting the exchange operator’s broader push into digital asset and tokenised trading infrastructure.     Featured image: Edited by Fintech News Singapore, based on image by farknot via Freepik The post NYSE Owner ICE Takes Minority Stake in OKX at US$25 Billion Valuation appeared first on Fintech Singapore.

Mastercard and Google have introduced Verifiable Intent, a standards based framework designed to verify user authorisation when artificial intelligence agents make purchases on a consumer’s behalf. The initiative addresses the rise of agentic commerce, where AI systems move from assisting users to planning purchases and executing transactions autonomously. Verifiable Intent creates a tamper resistant cryptographic record linking a user’s identity, instructions and the resulting transaction. Pablo Fourez Pablo Fourez, Chief Digital Officer, Mastercard, said, “Consumers need confidence and verifiable evidence that agents will follow instructions while maintaining privacy. Merchants need assurance that an agent is authorized to transact. Issuers must distinguish legitimate activity from fraud. And if something goes wrong, everyone needs facts — not guesswork. Meeting these needs requires a new model of trust, designed specifically for agentic commerce, and built with privacy at the center.” Mastercard said the framework establishes a shared source of truth that can be used to verify transactions and resolve disputes when payments are initiated by AI agents. The system uses selective disclosure so that only the minimum transaction data is shared when required for fraud checks or dispute resolution. Verifiable Intent was co developed with Google and is aligned with Google’s Agent Payments Protocol (AP2) and Universal Commerce Protocol (UCP). It is also built on open standards from organisations including the FIDO Alliance, EMVCo, the Internet Engineering Task Force and the World Wide Web Consortium, allowing it to work across different platforms, wallets and payment networks. Mastercard plans to integrate Verifiable Intent into the intent APIs of its Agent Pay platform in the coming months to support real world adoption with partners. The company has also open sourced the specification and reference implementation on GitHub and at verifiableintent.dev. Stavan Parikh “As AI agents begin to act more independently, it’s essential that user intent remains clear, provable, and protected. Strong, interoperable trust infrastructure like Verifiable Intent that is compatible with Agent Payments Protocol is a natural accelerator for scaling agentic commerce, and we’re proud to have collaborated with Mastercard on this initiative.” said Stavan Parikh, Vice President and General Manager, Payments, at Google. Industry players including Adyen, Fiserv and Worldpay have also expressed support for the framework as automated systems begin participating directly in commerce.     Featured image: Edited by Fintech News Singapore, based on image by 3Dsss via Freepik The post Mastercard, Google Introduce Verifiable Intent as AI Agents Begin Making Payments appeared first on Fintech Singapore.

The Monetary Authority of Singapore (MAS) has issued new guidelines outlining how banks, insurers and asset managers should manage climate transition and physical risks. The Guidelines on Environmental Risk Management for Transition Planning set out MAS’ supervisory expectations for financial institutions and serve as an addendum to the Environmental Risk Management framework introduced in 2020. MAS issued separate guidelines for banks, insurers and asset managers, reflecting differences in their business models and incorporating feedback from a public consultation and industry engagement. Under the guidelines, financial institutions are expected to establish transition planning processes in a risk proportionate manner, taking into account the risk profile of their business models and local operating conditions. Institutions should assess and manage both physical and transition risks arising from climate change by adapting their governance, business models and risk management practices. MAS also expects financial institutions to engage customers and investee companies to better understand the climate related risks they face and how they are managed. The regulator said this engagement should consider risk materiality when collecting data and help avoid indiscriminate withdrawal of credit, insurance coverage or investments that could affect financial stability. MAS added that financial institutions should continue strengthening their capabilities to measure and manage climate related risks as data and methodologies evolve. The guidelines will take effect in September 2027 after an 18 month transition period. Ho Hern Shin Ho Hern Shin, Deputy Managing Director for Financial Supervision at MAS, said, “These guidelines support FIs in building their risk management capabilities in response to both physical and transition risks. The financial sector plays an important role in supporting customers as they navigate the risks from climate change. By engaging their customers and investee companies in a risk proportionate manner, FIs can build better resilience to risks and support broader financial stability.”     Featured image: Edited by Fintech News Singapore, based on image by tahantanha10 via Freepik The post MAS Gives Financial Institutions 18 Months to Adopt Climate Risk Guidelines appeared first on Fintech Singapore.

Singapore Police have arrested three Singaporeans in a money laundering probe linked to the transnational scam syndicate Prince Holding Group. Investigations into Prince Holding Group, its founder and Chairman Chen Zhi, and related associates began in 2024. In October 2025, police conducted islandwide enforcement operations targeting individuals linked to the group. Authorities seized or issued prohibition of disposal orders on assets worth more than S$150 million, including a yacht, 11 cars and bottles of liquor. No arrests were made then as Chen Zhi and several associates were not in Singapore. Chen Zhi was reportedly arrested in Cambodia in January 2026 and extradited to China at the request of Chinese authorities. Police Expand Probe and Asset Seizures Police arrested three individuals between November 2025 and January 2026 for suspected money laundering linked to the case. Tan Yew Kiat, a 49 year old Singaporean and director of SRS Auto Holdings Pte Ltd, was arrested on 20 November 2025 under Section 54(3) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992. Police also issued prohibition of disposal orders on vehicles registered under SRS Auto. Nigel Tang Wan Bao Nabil, a 32 year old Singaporean, was arrested on 11 December 2025 after returning to Singapore from Cambodia. Yeo Sin Huat Alan, a 53 year old Singaporean, was arrested on 12 January 2026 after returning to Singapore from Cambodia. Police have also issued a warrant of arrest for Chen Xiuling, also known as Karen Chen, a 43 year old Singaporean woman, for offences linked to falsifying accounts and attempted cheating. She left Singapore before the October 2025 operations and is believed to be in Cambodia. Authorities also issued additional prohibition of disposal orders against three properties and eight cars, and seized cash, bank and securities accounts, luxury bags and watches valued at about S$350 million. The total value of assets seized or restricted in the case now exceeds S$500 million. Money laundering offences under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act carry penalties of up to 10 years’ imprisonment, a fine of up to S$500,000, or both. Peggy Pao Peggy Pao, Director of the Commercial Affairs Department, said, “The arrests and extensive scale of assets seized in Singapore underscore the police’s resolve to take swift and decisive enforcement action against individuals and corporate entities that seek to exploit Singapore’s financial system for criminal activities.”     Featured image: Edited by Fintech News Singapore, based on image by tehcheesiong via Freepik The post Singapore Arrests Three in Prince Group Probe With Over S$500 Million Seized appeared first on Fintech Singapore.

Sarut Ruttanaporn will become CEO of Siam Commercial Bank from 1 May 2026. The bank’s parent company SCBX confirmed the appointment as part of a leadership transition. Kris Chantanotoke will complete his contract term and will not seek renewal. Sarut Ruttanaporn Sarut has more than 30 years of experience in financial services across money markets, capital markets, retail banking, and corporate banking. He currently serves as CEO of CardX, a consumer finance company established by SCBX in 2022, which he helped build from its inception. In that role, he helped establish the company’s technology infrastructure, risk management framework, and customer experience model to support the group’s consumer finance business. Before leading CardX, Sarut held several senior roles at Siam Commercial Bank, including President, Senior Executive Vice President and Head of the Retail Segment and Branch Network, and First Executive Vice President and Head of the Corporate Segment. Earlier in his career, he worked at global financial institutions focusing on structured financial solutions and corporate relationship management. Arthid Nanthawithaya Arthid Nanthawithaya, Chief Executive Officer of SCBX, said, “Mr Sarut will bring a comprehensive blend of experience, strategic depth, and leadership capability. His strong track record across multiple business segments makes him well-equipped to lead Siam Commercial Bank through this important transition and drive the bank forward in alignment with SCBX Group’s long-term strategic direction.” SCBX said it has finalised the selection of a successor for the CEO role at CardX. The nomination is under review and approval.     Featured image: Edited by Fintech News Singapore, based on image by lifeforstock via Freepik The post Sarut Ruttanaporn to Lead Siam Commercial Bank as CEO From 1 May appeared first on Fintech Singapore.

Endowus has introduced WealthHERWay to support women investors in Hong Kong and Singapore through research and investment education. The programme was announced ahead of International Women’s Day on 8 March and aims to address the investment gap as women take on a growing share of financial responsibility. Data from Endowus suggests women are highly engaged investors on the platform. Female users in Singapore spend 34 percent more time per session on the Endowus app than men and make their first investment faster, with a median time of 8.5 hours compared with 10 hours. Sheryl Choong Sheryl Choong, Head of Client Advisory at Endowus, said, “For women, taking control of their finances is not just about securing the future, but also creating the life they aspire to today – whether that means starting a business or supporting their families. Financial journeys are not linear, and advice must adapt to life transitions. We believe that being able to invest confidently, with the right advice and tools, is both financially and personally empowering.” Women are also 25 percent less likely to redeem their investments, though the scale of investment remains smaller. Women start with about 20 percent lower initial investment amounts on average and contribute around 21 percent less each month. A larger share also hold cash positions, at 66 percent compared with 55 percent of men. Endowus will launch the programme with a panel discussion titled WealthHERWay – Define Your Future with Clarity. The firm will also host educational seminars and community engagements across Hong Kong and Singapore with partners including Capital Group and Love, Bonito. Endowus and Capital Group will collaborate on research and educational content examining investment trends among women, including wealth transfer and attitudes towards financial advice.     Featured image: Edited by Fintech News Singapore, based on image by rawpixel.com via Freepik The post Endowus Introduces WealthHERWay to Support Women Investors appeared first on Fintech Singapore.