Despite growing demand for product personalization, most banking customers are underwhelmed by the personalization they receive, underscoring a gap between between customer expectations and what banks are delivering in experience, according to a new study by Hong Kong-based strategy consultancy Quinlan and Associates in partnership with management consulting company Synpulse. The study, which polled nearly 150 consumers in 2025, found that nearly three quarters (74%) of banking customers consider personalization critical to their banking experience. Yet 71% of those who value personalization say they have either not experienced it or are dissatisfied with what they are receiving. This suggests that, despite strong demand, only a small minority actually receive tailored experiences that meet their expectations and deliver real satisfaction. Additionally, less than half (44%) of the customers who consider personalization important have actually experienced it at all. This reveals that many banks are still not equipped to provide meaningful, individualized value, suggesting that personalization remains an under-stated priority. Even among those who have received personalized services, more than half (52%) are not satisfied, highlighting that banks’ personalization efforts lacked sufficient thought and implementation rigor. Gap between customer importance and satisfaction, Source: Tailor-made: Hyper-personalising the retail banking experience, Quinland and Associates, and Synpulse, Dec 2025 Underwhelming personalization and customer experience contribute to lower retention rates in the banking sector compared to other industries. The customer retention rate in banking stood at 75% in 2024, well below the non-banking average of 82.5%. Retention in the sector has declined in recent years, underscoring persistent gaps in service quality and customer satisfaction. Customer retention rate, Source: Tailor-made: Hyper-personalising the retail banking experience, Quinland and Associates, and Synpulse, Dec 2025 Rising competition in the banking landscape Falling retention rates also reflect intensifying competition from digital banks that are elevating experience standards. In Hong Kong, digital bank Mox Bank offers a streamlined onboarding process that takes just about 5 minutes on average, with roughly 70% of applicants being processed without the need for manual intervention. Across Asia, UOB’s digital brand TMRW uses artificial intelligence (AI) to anticipate needs and deliver curated insights and rewards suited to individual preferences. In China, Tencent-backed WeBank leverages AI, blockchain, cloud computing, and big data to serve underbanked individuals and small and medium-sized enterprises (SMEs), using these technologies for underwriting, product matching, and hyper-targeting. Gains from addressing the personalization gap The Quinlan and Associates research indicates that closing this personalization gap could unlock significant revenue for banks by improving customer acquisition, engagement, and loyalty. By using first-party data, customer relationship management (CRM) insights, and third-party behavioral signals, banks can tailor product awareness and marketing campaigns to a customer’s life stage, goals, and financial context, potentially boosting customer acquisition by 63%. In engagement, ads, emails, and push notifications can be dynamically adapted to a customer’s behavior, preferences, and interaction history to increase relevance and click-through rates, improving engagement by 36%. Banks can also personalize the product journey by adapting product recommendations, featured presentation, and support to a customer’s profile, intent and behavior. Customers are found to be 94% more likely to purchase a personalized product than a generic offering. Effective personalization also improves retention. Experiences tailored to tenure, life events, and transaction behavior can reinforce trust, and deepen engagement for long-term retention, increasing retention by 69%. Customer funnel, Source: Tailor-made: Hyper-personalising the retail banking experience, Quinland and Associates, and Synpulse, Dec 2025 Results from the Quinlan and Associates study align with other recent research. Accenture’s Banking Consumer Study 2025, released in March, also underscores the critical importance of personalization. Polling more than 49,000 customers across 39 countries and 700 banks, the study found that a lack of connection in digital interactions is pushing customers to seek more personal banking experiences and diversify their banking relationships. As a result, many customers are engaging with additional providers. 73% of customers now use multiple banks beyond their primary financial institution, and 58% have purchased a financial service or product from a new provider in the last 12 months.   Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik The post Banks Are Falling Short on Customer Personalization appeared first on Fintech Singapore.

Amazon will invest more than US$35 billion across its businesses in India through 2030, adding to the nearly US$40 billion it has already committed. The announcement was made at the sixth Amazon Smbhav Summit in New Delhi. Amazon expects its next phase of investment to generate another one million direct, indirect, induced and seasonal jobs by 2030. This will come from the expansion of fulfilment and delivery networks that also support packaging, manufacturing and transportation sectors. The company said it will continue building infrastructure, advancing AI capabilities and supporting small business growth. As part of its AI plans, Amazon aims to extend AI tools to 15 million small businesses and improve shopping experiences for hundreds of millions of customers. It also intends to support AI education for 4 million government school students through curriculum support, career tours, hands-on programmes and teacher training aligned with the National Education Policy. Amazon also aims to increase cumulative ecommerce exports enabled from India to US$80 billion by 2030 as it expands its technology and logistics footprint. Amazon is India’s largest foreign investor and leading enabler of ecommerce exports, with its investments supporting over 12 million digitised small businesses, US$20 billion in exports and about 2.8 million jobs. Amit Agarwal “We are humbled to have been a part of India’s digital transformation journey over the past 15 years, with Amazon’s growth in India perfectly aligned with the vision of an Atmanirbhar and Viksit Bharat. We have invested at scale in growing the physical and digital infrastructure for small businesses in India, creating millions of jobs, and taking Made-in-India global.” said Amit Agarwal, Senior VP Emerging Markets, Amazon.     Featured image: Edited by Fintech News Singapore, based on image by Freepik The post Amazon to Invest US$35 Billion in India, Create 1 Million Jobs by 2030 appeared first on Fintech Singapore.

When you meet Vince Iswara, the CEO and Co-Founder of DANA, you quickly realise he is not the type of founder who builds a company for the spotlight. He speaks softly, thinks carefully, and smiles easily when talking about his team. If you didn’t already know that DANA serves more than 200 million users, you probably wouldn’t guess it from the way he carries himself. He talks like someone who is still in the trenches, still solving problems one by one, and still treating every day as if the company could disappear if they missed a step. That mindset that he holds is not an act but rather something that has been shaped by years of pressure that most people never saw. The Early Path That Led to DANA DANA was formally established in 2017, but for Vince, the story began much earlier. He had already built a digital wallet business during the period when the word “fintech” wasn’t even part of Indonesia’s vocabulary. That early experience brought him into close contact with Ant Financial, now known as Ant Group. They were interested in the company he built, and for a year and a half, they held long discussions about a potential partnership. The conclusion, however, was a little bit unexpected. You see, Ant Group felt the business that Vince was running itself was not the right vehicle for long-term growth. But on the flip side of the coin however, they believed the founder was. As Vince puts it, “they saw me as the real potential,” and that opened the door for him to join Ant and learn directly from the ecosystem they had built in China. @fintechnewsnetwork Great idea. Wrong time. Instead of quitting, Vince Iswara paused his journey, joined Ant Group to learn their playbook, and waited for the market to catch up. Today, that patience has turned into Indonesia’s largest e-wallet 200 Million users. @DANA Indonesia #fintech #ewallet #Indonesia #payments ♬ original sound – Fintech News Network – Fintech News Network That time that Vince spent in China is vital to how it shaped his worldview. He saw how mobile wallets could shift an entire nation’s behaviour and how thoughtful product design could lift millions into the formal economy. By the time he returned to Indonesia to co-found DANA, he carried a clearer sense of what was possible. Indonesia, in his eyes, was ready for its own version of that story. Years Spent on the Edge The early years of DANA were far from glamorous, needless to say. Most people know the company today, but few realise just how close to the edge it operated. Vince describes it without softening the memory. “The first five, six, seven years of our journey, we were pretty much on the edge. We were always worried that the next day would be our last day. There were so many challenges.” @fintechnewsnetwork How do you compete with 100% Cashback? DANA CEO Vince Iswara admits he worried every day might be the company’s last when rivals started giving away free money. Here is how they survived the “Cash Burn” wars to become Indonesia’s largest e-wallet today with over 200 million users. @DANA Indonesia #fintech #ewallet #payments #cashback ♬ original sound – Fintech News Network – Fintech News Network Competition according to the winner of the Fintech Frontiers 50 awards, Vince, was aggressive. Regulations were evolving. Investors were uncertain. And the market was flooded with incentives that somewhat distorted user behaviour. The Co-Founder of DANA said that at that time, you can clearly see that the market is flooded with crazy offers like 50% cashback, 70% cashback and even at some point of time, 100% cashback. In that moment, Vince questioned himself. How is he supposed to compete in that mad market with users that are kind of irrational? “At the time, we were like, are we in the right industry? Can we continue to keep doing this?” Vince said. But Vince told that those were the years that shaped the company more than any growth milestone ever could. It made DANA who they are today. A Culture Built in Real Time Speaking of what made DANA what it is today, many have also asked on what kept DANA alive, standing tall as one of if not the largest e-wallet company in Indonesia. And no, it was not a sudden breakthrough. It was more of a culture that is shaped through the grind of experimentation and survival. Vince never points to a single moment that changed everything. “Every single thing that we build over time, one at a time, makes us where we are today. There is no inflection point where suddenly we jump up. It’s growth over time, but continuously.” @fintechnewsnetwork The Secret to Success Doesn’t Exist. DANA Founder Vince Iswara says there is no “magic moment” where you suddenly win. The reality? Get your hands dirty. Dream big. Focus on building great products. @DANA Indonesia #fintech #Indonesia #ewallet ♬ original sound – Fintech News Network – Fintech News Network That steady approach influenced the team as much as the product. Vince told us that out of the first 81 people who joined DANA, 65 are still with the company today. In a sector where talent shifts constantly, this level of loyalty is unusual. Very impressive if I may add. Vince remains close to them, often reviewing product decisions himself and staying engaged with the details. “I enjoy actually putting my hand to the dirty work, working together with the team on building the product and the services.” The hands-on culture that Vince created, kept DANA grounded even as its user base scaled into the millions. Designing for Real Inclusion DANA’s scale is impressive, but Vince never talks about it as the point of the journey. For him, the real marker of progress has always been impact. He has a straightforward view on financial inclusion in Indonesia, and it cuts through the usual noise. Access isn’t the problem. Branches, agents, and digital channels exist almost everywhere. The real challenge according to Vince, is literacy. People need tools they can actually understand, not just tools they can technically reach. That idea structures the way DANA builds. The team doesn’t want to design features around what they think users should do. They want it to be around what people already do. Things like, a family account that quietly teaches budgeting through everyday use. Merchant tools that help SMEs see their revenue clearly for the first time. Small product decisions that, when stacked together, move users from basic access to genuine financial capability. Vince often describes DANA’s growth as a series of steady, deliberate steps. Vince Iswara As he puts it, “every single thing that we build over time, one at a time, makes us where we are today.” It’s a line that captures the company’s entire approach to inclusion. There is no single breakthrough feature that fixes everything. There are only consistent improvements that compound into something meaningful. These stories remind Vince that inclusion grows the same way DANA did. Steadily, quietly, and through decisions that prioritise understanding over scale. Cash Is Still King, But It’s Starting To Lose Its Crown Despite these successes, Vince is still very clear about one thing. For all the headlines about valuations, market share, and digital adoption, Indonesia is still in the early chapters of its wallet story. From afar, it may look like the sector has matured. Some players are listed, others are backed by global giants, and e-wallet penetration has climbed fast. But on the ground, the picture is rather different. He points to the simplest indicator, cash. “Cash is still king,” as Vince or everyone else in the world would say. Vince said that it still accounts for roughly half of all transactions in the country, even though e-wallets have already overtaken cards and now sit at around 30% of the market. There are signs of progress, but it also shows how much more is left to do. And as long as that remains true, the full promise of digital finance is still out of reach for many Indonesians. For Vince, this is not a race for dominance between players but against the limits imposed by cash. If Indonesia can collectively shrink cash usage and expand responsible digital adoption across wallets, banks, and payment providers, the result is a much larger economic pie for everyone. It means better visibility, stronger inclusion, and more opportunities for GDP and income growth across the population. This is why he doesn’t dwell on questions about market position. Being a top player doesn’t change the fact that the work is unfinished. In Vince’s view, the real transformation will come from pushing deeper into behaviour, not wider across demographics. Indonesia may have made its first leap, but the real journey is only beginning. The Underdog Mindset That Never Left Even as the company grows, Vince prefers to think from the bottom rather than the top. His advice for the new generation of entrepreneurs reflects the same humility that shaped DANA’s earliest years. “Be an underdog,” he says. “Make sure that you have that mindset. Make sure that you are always aiming for a big dream.” It is the same outlook that kept DANA alive during the toughest periods. The same approach that pushes the team to listen harder, build carefully, and keep improving without chasing hype. For Indonesia, the pressure is still real and the problems remain complex, but there is a different confidence in the way Vince speaks about the road ahead. He has seen what steady progress can build. And he believes Indonesia’s financial landscape will continue to transform not through big leaps, but through the same steady accumulation of improvements that built DANA from the beginning. If the first eight years were defined by endurance, the next eight may be defined by deeper expansion. Sounds interesting? Hear Vince tell the story himself, and watch the full conversation of How a Second Chance Led to Indonesia’s Largest E-Wallet | Vince Iswara, Co-Founder, DANA down below. The post Vince Iswara, the Co-Founder Who Runs DANA with the Discipline of an Underdog appeared first on Fintech Singapore.

Pakistani fintech NayaPay has launched global QR payments through a collaboration with Alipay+, enabling users to make payments at merchants in more than 50 countries. The service connects Pakistani consumers to Alipay+’s network of 40 mobile payment partners and more than 150 million merchants worldwide across retail, dining, transport, healthcare and entertainment. The feature expands NayaPay’s existing services, which include Visa debit cards, local and international transfers, bill payments and home remittances. The company said it was the first Pakistani fintech to enable direct QR payments in China through its 2024 partnership with Alipay+, which connected users to over 80 million merchants there. The new integration extends similar capability to global markets as cross-border travel and spending rise. NayaPay said the service offers a more seamless and cost-effective way for users to pay overseas. Customers can scan and pay at participating Alipay+ merchants through the NayaPay app. Danish A. Lakhani Danish A. Lakhani, CEO NayaPay said, “When we started NayaPay, our ambition was to give Pakistanis the same freedom and confidence with money that people enjoy in the world’s most advanced markets. This step brings us closer, not only by making payments abroad seamless but by making them universally accessible and easy on the pocket. Whether our users are studying, working or exploring the world, they deserve a global payment experience that keeps up with them.” Pan Yan Pan Yan, Head of Strategic Partnership Office for Alipay+, Ant International, said, “Our goal at Alipay+ is to connect anyone, anywhere in a seamless, digitally-enabled manner. The growth of mobile platforms like NayaPay is transforming how millions of people travel and interact with local merchants. Through this next step of our collaboration, we’re jointly making it easier for Pakistanis to explore the world, and do so with the same trusted and familiar experience, just like home.”     The post Pakistan’s NayaPay Enables QR Payments to Over 50 Countries via Alipay+ appeared first on Fintech Singapore.

Not long ago, banking in Asia Pacific meant standing in line at a branch, filling out slips of paper, and waiting patiently for transactions to be processed. Fraud, when it occurred, was relatively visible and often easier to contain, counterfeit notes, forged signatures, or cheque tampering were the risks banks kept a close watch on. Those threats were tangible, localised, and limited in scale. Fast forward to today, and the contrast is striking. Payments move at the speed of a tap, digital wallets are used as readily as cash once was, cross-border transactions settle in seconds, and modern AI agents are here to help us spend on different things before we even feel guilty for it. This progress has opened remarkable opportunities for businesses and individuals alike, but it has also created new avenues for crime. Fraud is no longer about a forged cheque or a stolen wallet; it is about invisible, sophisticated attacks that exploit every digital channel. Each new innovation designed to make payments faster and more accessible has, in turn, created fresh openings for those intent on exploiting the system, a reality mirrored in recent regional data, where cybersecurity remains the leading risk for Asia Pacific’s (64%), and digital disruption, including AI, has surged from 30% last year to 36% today, with expectations to hit 55% within three years. Together, they capture the dual challenge confronting the region: the need to secure increasingly digital financial ecosystems while adapting to a rapidly changing threat landscape powered by automation and AI.   A region defined by contrasts Asia Pacific is home to some of the world’s most digitally advanced economies as well as markets where millions of people are only just beginning to experience financial services online. In Singapore or Australia, customers expect their banks to use advanced fraud detection in real time, while in parts of Southeast Asia, financial-inclusion initiatives are bringing first-time users onto digital platforms, often with limited awareness of the risks involved. The diversity of regulatory frameworks across the region adds another layer of complexity. The result is an environment rich in opportunity, but equally attractive to fraudsters who thrive on fragmentation and uneven preparedness. This combination of large transaction volumes, varying levels of digital literacy, and inconsistent oversight has made APAC a prime target. For example, one report by VISA shows that US $36 of every US $1,000 of accepted e-commerce orders in Asia Pacific turn out to be fraudulent, and an additional US $55 are rejected due to fraud suspicions. Meanwhile, the specialist threat-intelligence firm Group-IB highlights the growing threat of AI-driven credential-testing attacks in APAC, where automation is validating stolen credentials through subtle, undetected transactions. In such an environment, phishing attacks mimic official communication styles with uncanny accuracy, synthetic identities slip past legacy verification systems, and fraudsters use stolen personal data not just to commit one-off crimes but to build entire profiles that look authentic on the surface. Fraud profiles across key APAC markets In Malaysia, regulators have stepped up expectations around real-time fraud monitoring and behaviour-based analytics as mobile payments and push-payment scams proliferate. Whereas in the Philippines, the rise of account-scam legislation reflects the growing vulnerability of first-time digital-finance users who may lack awareness of fraud-vectors. In Indonesia, rapid adoption of digital wallets, cross-border payment rails, and QR-based transfers has broadened the attack surface, prompting stronger oversight of payment-system infrastructure. According to Group-IB’s regional reporting, financial-services firms in the APAC region were among the top targeted sectors, with over 40 attacks recorded in one year alone. These typologies emphasise that banks and fintechs in APAC must adopt fraud-management platforms capable of real-time link-analysis, behaviour-based models, cross-channel analytics and device-risk scoring to keep pace with evolving threats. Why traditional approaches fall short The days of relying on post-event investigation are long gone. In the time it takes to identify and investigate a suspicious transfer, a fraudster may have already routed funds across multiple accounts and jurisdictions, making recovery almost impossible. Manual checks, however rigorous, cannot cope with the sheer speed and volume of today’s digital transactions. Traditional financial institutions which still rely on legacy fraud solutions and hence reactive defences won’t cope with dozens of automated AI agents, trained to replicate customer behavior. Updating fraud scenario databases and rules should be done timely and proactively, across every channel. So, the question each financial institution should ask themselves today – are the prevention mechanisms prepared and tuned to spot and stop an advanced AI-orchestrated fraud run in real-time or its time for a major upgrade? The role of technology This is where advanced fraud management platforms make a difference. They change the game. Unlike legacy, modern solutions offer modern techniques to combat fraud such as link analysis, automated decisioning powered by AI and analytics, behavior modelling. With SaaS deployments – rules, intel and databases are continuously updated, following the freshest existing techniques available in communities. In countries such as Hong Kong, regtech adoption is already at 97% among surveyed companies and AI adoption at 75% as reported by Hong Kong Monetary Authority. With BPC’s SmartVista Fraud Management, financial institutions leverage AI-powered technology with ML-backed rules for behaviour modelling and link analysis to predict the patterns of fraudulent activity before it happens. Financial institutions gain a view of their customers that spans every channel, whether it is online payment, digital, merchant payments, or core banking transactions. SmartVista Fraud Management supports online, near-real-time, and offline validation with customizable fraud rules, low-code/no-code configuration, multi-institution, link analysis and visual analytics capabilities. It allows users to test rules on historical data, utilize fuzzy matching algorithms, and independently manage ML scoring models and datasets through an intuitive UI. Jonathan Bautista Jonathan Bautista, Commercial Director, APAC, BPC on flexibility in deployment: “Flexibility matters in APAC. Some banks operate under strict local regulations requiring on-premise systems, while others prefer the scalability of cloud-based models. SmartVista supports both, allowing institutions to adapt without compromising performance. Just as important, its low-code/no-code and modularity, so that fraud management teams can tailor rules and workflows fast, starting with our hundreds prebuilt templates and customize them as they wish.” Lessons from practice Experience across the region shows that moving from fragmented controls to an integrated, proactive approach not only reduces financial losses but also strengthens customer trust. A recent example is Malaysia’s Co-opbank Pertama, which has adopted BPC’s SmartVista Fraud Management in the cloud to strengthen its defences. By moving away from manual, post-event checks and embracing real-time monitoring and behaviour-based profiling, the bank has positioned itself to stop fraud at the speed it occurs. “Our global expertise and success allows us to apply best practices locally. It is in the breadth of our deployments.” adds Jonathan Bautista.  Some examples include Meezan Bank in Pakistan rolled out SmartVista Fraud Management enterprise-wide to protect all payments from ATM, POS, mobile to e-commerce channels; DSK Bank in Bulgaria adopted enterprise fraud management to harden every digital touchpoint; BIM in Mauritania introduced SmartVista Fraud Management and now leverages the centralised platform to intercept 100% of potentially fraudulent operations; and in LATAM, Banco Finandina chose BPC’s SmartVista 3-D Secure 2.0 to safeguard its e-commerce business end-to-end. Different markets, different regulatory realities yet one platform with consistently strong outcomes. These cases show an important point: fraud management is not simply about deploying technology, it is about building trust, protecting reputation, and ensuring that financial services remain secure without creating barriers for legitimate users. In APAC’s  highly competitive environment, where consumer expectations are rising and regulators are pushing for stronger oversight, striking this balance is not a differentiator, it is a necessity. A shared responsibility No single institution can tackle fraud in isolation. Regulators play a central role in establishing standards and encouraging transparency. Merchants and payment networks must ensure that their systems are not the weakest links in the chain. Technology providers, like BPC, bring the tools and expertise to make enterprise-wide protection possible. But it is ultimately the responsibility of financial institutions to integrate these elements into a coherent strategy, before vulnerabilities can be exploited at scale. What Can We Conclude in Combating Fraud? Fraud has always shadowed the progress of finance. What has changed is its speed, scale, and sophistication. In today’s APAC digital economy, fraud prevention must be more than an afterthought or a compliance exercise; it must be treated as a cornerstone of resilience and growth. Financial institutions that invest in proactive, intelligent fraud management will not only limit losses but also build the trust that underpins long-term success. Those who fail to adapt risk far more than financial damage, they risk eroding the confidence that keeps customers engaged. For institutions seeking practical guidance, BPC has developed a guide “The Anatomy of the New Fraudster” to gain profound insights on modern fraud and how to oppose it effectively, what is the fraudster modus operandi and effective strategies to enhance every business channel security.  These insights, together with SmartVista’s proven capabilities, are already helping organisations across the region protect every transaction, on every channel.  The post The Silent Disruptor: Unmasking Digital Fraud in APAC’s Financial Networks appeared first on Fintech Singapore.

TenPay Global and Mastercard have formed a partnership that enables fast and secure remittances to Weixin Pay. This move lets eligible users abroad send salaries or family support to a recipient’s Weixin Pay Wallet Balance or linked bank card through Mastercard Move. TenPay Global is Tencent’s cross-border payment platform, and Weixin Pay is a widely used mobile payment service in China. China received about US$31.41 billion in personal remittances in 2024, according to the World Bank. Cross-border transfer needs continue to grow as more people work, study and travel overseas and as global commerce expands. The collaboration links Mastercard Move’s global network with the Weixin ecosystem to support money flows into the Chinese Mainland. Mastercard Move reaches nearly 10 billion endpoints, including bank accounts, cards, wallets and cash-out locations. It spans more than 200 countries and territories, supports over 150 currencies and covers more than 95 percent of the world’s banked population. Extending connectivity to more than 1.4 billion Weixin and WeChat users broadens available options for senders and recipients. Anouska Ladds “Across Asia Pacific, digital wallets are already an integral part of everyday life. With this collaboration, recipients gain fast, secure and transparent access to funds right where they already pay. It’s exactly how we’re driving payments modernisation across the region together with our partners: embedding financial services into everyday life, expanding access, and empowering people and organisations to thrive in today’s digitally connected economy,” said Anouska Ladds, Executive Vice President, Commercial New Payment Flows, Asia Pacific, Mastercard. Wenhui Yang “We are committed to helping users stay connected wherever they are. Together with Mastercard, we are unlocking new opportunities and greater convenience for people around the world to send money back home. This marks another step forward in supporting the growing money transfer needs of a globally connected user base, ensuring funds arrive swiftly and safely in an everyday platform they trust. We will continue to build solutions that foster cross-border connectivity and create meaningful value for both senders and recipients,” said Wenhui Yang, CEO of TenPay Global (Singapore).     Featured image: Edited by Fintech News Singapore, based on image by zendaIA via Freepik The post TenPay Global, Mastercard Enable Direct Remittances to Weixin Pay in China appeared first on Fintech Singapore.

Airwallex has acquired a majority stake in Skye Sab Indonesia, a Category 1 PJP (Penyedia Jasa Pembayaran) license holder. The acquisition enables Indonesian merchants seeking international expansion to access Airwallex’s financial infrastructure, while facilitating foreign businesses’ entry into Indonesia. It also extends Airwallex’s presence in Asia-Pacific markets, including Australia, China, Hong Kong, Japan, Malaysia, New Zealand, South Korea, Singapore, and Vietnam. This follows Airwallex’s US$330 million Series G funding round at an US$8 billion valuation, marking a roughly 30% increase from its previous round six months earlier. The investment will support the company’s growth in key markets, including Indonesia, and the development of AI-driven tools to streamline financial workflows and improve cross-border operations. Jack Zhang “As AI lowers software costs, infrastructure and data become the ultimate differentiator,” said Jack Zhang, co-founder and CEO of Airwallex. “Airwallex connects the full spectrum of a customer’s financial operations, money in, money out, and everything in between, giving our agents the contextual data to execute with precision. This proprietary visibility, built on our scalable financial infrastructure, is what powers agentic finance.” With over 64 million SMEs in Indonesia, demand for secure, cost-effective cross-border payment solutions is high. Airwallex’s global infrastructure, combined with PT Skye Sab Indonesia’s local capabilities, aims to support these businesses in expanding internationally. In Southeast Asia, Airwallex reported a 108% year-on-year revenue increase and 94% growth in transaction volume for Q3 2025. Globally, the company exceeded US$1 billion in annualised revenue and US$235 billion in transaction volume.     This article first appeared on Fintech News Indonesia.  Featured image credit: Edited by Fintech News Indonesia, based on image by ismode via Freepik The post Airwallex Acquires Majority Stake in Indonesian Payment Provider appeared first on Fintech Singapore.

Microsoft will invest US$17.5 billion in India over four years to expand its cloud and artificial intelligence (AI) infrastructure, scale up skilling programmes and support local operations. It said this is its largest investment in Asia and follows the US$3 billion announced earlier this year, which is expected to be fully deployed by end-2026. The announcement came after Microsoft Chairman and CEO Satya Nadella met Prime Minister Narendra Modi to discuss India’s AI roadmap. When it comes to AI, the world is optimistic about India! Had a very productive discussion with Mr. Satya Nadella. Happy to see India being the place where Microsoft will make its largest-ever investment in Asia. The youth of India will harness this opportunity to innovate… https://t.co/fMFcGQ8ctK — Narendra Modi (@narendramodi) December 9, 2025 Microsoft said the plan aligns with the Prime Minister’s vision of scale, skills and sovereignty, which guides national efforts to build AI capabilities at population level. Much of the new funding will support data centre expansion, including a hyperscale region in Hyderabad scheduled to go live in mid-2026. Microsoft will also expand its existing regions in Chennai, Hyderabad and Pune to improve performance for enterprises, startups and public agencies. The company is working with the Ministry of Labour and Employment to bring AI tools to the e-Shram and National Career Service platforms, which serve more than 310 million informal workers. The updates include multilingual access, AI-assisted job matching, skills demand forecasting and automated resumé creation. Through e-Shram, workers are connected to 18 welfare schemes. Microsoft is doubling its skilling target to 20 million people by 2030. It said 5.6 million have been trained since early 2025, with more than 125,000 individuals securing jobs or entrepreneurial opportunities through its programmes. New digital sovereignty offerings, including Sovereign Public Cloud and Sovereign Private Cloud, were also introduced. Microsoft 365 Copilot will begin processing data within India by the end of 2025, making the country one of the top four global markets to receive in-country data handling for the service. The company said this will support compliance needs across government, finance and healthcare. Union Minister Ashwini Vaishnaw said the investment reflects India’s growing role as a global technology partner. Puneet Chandok Puneet Chandok, President, Microsoft India and South Asia, said, “Microsoft has been part of India’s fabric for more than three decades. As the nation moves confidently into its AI-first future, we are proud to stand as a trusted partner in advancing the infrastructure, innovation and opportunity that can power a billion dreams. Building on the US$3 billion investment announced in January 2025, our new US$17.5 billion commitment and deep partnership across India’s technology ecosystem are focused on turning India’s AI ambition into impact for every citizen.” Microsoft employs more than 22,000 people across several cities who work on AI development, engineering, data centre operations and customer support.     Featured image: Satya Nadella, chairman and CEO, Microsoft with Prime Minister Narendra Modi The post Microsoft to Invest US$17.5 Billion in India to Expand AI, Cloud Infrastructure appeared first on Fintech Singapore.

At this year’s Singapore FinTech Festival, one statistic kept coming up in our conversations with industry leaders. 79% of organisations were victims of payment fraud last year. This means nearly four in five companies suffered some form of financial loss due to increasingly sophisticated scams. The figure is rather jarring, considering the expectations around payments continue to rise. Customers now want their money to move instantly, and, at the same time, the systems moving those very same funds must stay secure at all times. Yet with criminals now trying new avenues to steal your money, staying secure isn’t as easy as it used to be. These very crooks now have the ability to operate with AI-generated deepfakes, hyper-accurate impersonations and advanced social engineering tactics that exploit legacy infrastructure that is, sadly speaking, not designed for today’s threats. That is why our conversation with Scott Manson, Senior Director and Global Head of Payments Product at LexisNexis Risk Solutions, felt particularly timely. In a world that demands speed but punishes mistakes harshly, what keeps the global payments ecosystem functioning safely? Scott placed the answer squarely on clarity. Scott Manson “At its core, Bankers Almanac gives financial institutions confidence in who they are dealing with,” he told us. “We deliver that certainty with verified counterpart intelligence, routing and identity so banks can move money globally with lower risk and more confidence.” It is a simple idea, but in a system where banks often cannot see the counterpart on the other end of a transaction, confidence becomes a form of infrastructure. Perhaps that explains why majority of major banks rely on Bankers Almanac data. Rather than reinventing the system, the organisation has quietly ensured global payments remain safe for nearly two centuries. A Legacy That Evolves With the Industry Bankers Almanac has come a long way since the days of the iconic “Orange Book”. Today, the platform powers global payments through APIs, interoperable data layers and AI-enriched tools. Yet Scott emphasised that longevity alone is not what keeps them relevant. “We are obsessively reliable,” he said. He explained that their long history and breadth of coverage have made Bankers Almanac one of the leading sources of verified financial data in the market, giving their AI models a strong foundation to work from. He explained that banks do not look to them or even trust them merely because LexisNexis Risk Solutions provides the data and information. “They trust us because we provide answers, and we provide certainty where there is uncertainty,” Scott enlightened us. In an industry where a single missing detail can have regulatory consequences, data quality becomes a critical form of risk mitigation. De-Risking Is Not a Strategy but a Symptom We then asked Scott about one of the most pressing issues in global finance. Around the world, banks have been withdrawing from higher-risk regions because the compliance burden feels overwhelming. Even global bodies such as the FATF have warned that unchecked de-risking can push legitimate financial activity underground. Scott offered a clear explanation of why this happens. “De-risking happens because banks are not confident in who their counterparty is,” he said. “Our role is to replace that uncertainty with certainty.” He added that the solution is precision, not withdrawal. You see, when banks have high-quality data, they can make surgical and complex decisions in a much more accurate manner. What this means is that instead of cutting off entire regions, banks can differentiate between legitimate partners and genuine risks. Better data can become a path to financial inclusion. Operating at the Edge of Sanctions To understand how this works in practice, we discussed the case of Bank of Jinzhou, an institution operating in close proximity to North Korea. The level of scrutiny for banks in such areas is intense, and even minor errors can trigger severe compliance ramifications. Scott summarised the situation succinctly. “Banks near sanctioned countries face higher regulatory scrutiny, and there is a high tariff to wrong decisions.” He then explained how Bankers Almanac supports institutions in these high-stakes environments. “We give clarity on three points. Who exactly is the entity, are they owned or influenced by anyone they should not be, and is their behaviour consistent with a clean correspondent bank?” Such a level of visibility allows banks to make informed decisions even in the most complex environments. Untangling the UBO Problem We also discussed the increasingly difficult task of uncovering the ultimate beneficial owner (UBO) of an entity, which has become one of the most time-consuming areas of compliance. Ownership trails often run through shell companies, offshore jurisdictions and deeply layered corporate structures. Scott shared an unexpected claim about their capabilities. “We go down to 0.01%, which is 99.9% accuracy on ultimate beneficial ownership, across eight layers of ownership.” That level of precision is not accidental. It stems from years of investment in multi-jurisdictional registry data and painstaking ownership mapping that newer entrants would struggle to replicate. LexisNexis Risk Solutions built this depth so that institutions no longer need to spend days unravelling complex structures. Their approach gives banks a way to complete UBO checks at a speed and level of certainty that would be nearly impossible through manual investigation alone. Payments Have Become Faster, but So Has Fraud Scott also noted that the industry’s rapid shift toward instant payments has introduced a new set of challenges. Speed delivers clear benefits for liquidity and customer experience, but it also leaves far less room to catch suspicious activity. “We have spent years talking about faster, faster, faster, but the problem is that with faster, there is less opportunity to stop fraudulent transactions.” He emphasised that banks cannot simply chase speed without considering the consequences. They must find a way to accelerate payments while maintaining sufficient time for meaningful checks. As Scott put it, institutions need to balance efficiency with the discipline of proper AML and fraud screening. The industry’s ability to strike that balance will heavily influence how future payments infrastructure develops. Preventing Failed Payments at the Source Failed payments are not just an operational annoyance. They slow down transactions, increase back-office workload and gradually erode customer confidence. Some studies place the cost of each failure at roughly US$12, which adds up quickly for large institutions. Scott explained how Bankers Almanac tackles this issue directly. He noted that LexisNexis Risk Solution offers Validate, the company’s pre-payment verification tool that checks and enriches account and routing information across more than 200 countries. “Validate uses our data to make sure payments have the right information before they leave, so they do not fail.” He pointed out that LexisNexis Risk Solution supports this process with one of the most extensive datasets in the market. The company maintains roughly a third of the world’s routing data, which allows it to signal to a bank whether a transaction is correctly configured or needs correction before going out the door. With stronger verification at the point of initiation, banks are able to improve straight-through processing rates and significantly reduce avoidable rework. The Human Cost of APP Fraud We then moved to the surge in authorised push payment fraud, where victims are deceived into sending money themselves. This category of fraud has become one of the most damaging forms of financial crime globally. Scott has worked on this issue since the early days of the UK’s approach to Confirmation of Payee. “Confirmation of Pay is a tremendous tool in the fight against global fraud, particularly APP scams,” he said. “Before the payment leaves, you can be assured the owner of that account is the person they say they are.” The results have been encouraging. Scott mentioned that it has significantly reduced APP fraud in countries like the United Kingdom. It comes as no surprise, he said as now, more and more countries are exploring similar systems to protect both consumers and banks. AI Works Only When the Underlying Data Works We mentioned earlier that criminals are known to begin to use AI to sharpen their scams. Thus, we asked Scott how LexisNexis Risk Solutions approaches the same technology from a defensive standpoint. He explained that AI’s effectiveness depends entirely on the quality of the data beneath it. If the foundation is weak, the insights will be too. LexisNexis Risk Solution considers its advantage to be the sheer depth of its historical datasets, which span decades of cross-border payment patterns and correspondent banking relationships. This gives the company a level of context and training material that most newer players cannot replicate. Scott also pointed out that the organisation does not rush to apply AI for the sake of innovation. They approach it deliberately, evaluating where automation genuinely supports better decisions rather than introducing unnecessary risk. It is a disciplined stance shaped by the realities of compliance, where even a small error can escalate into regulatory consequences. What Comes Next for Correspondent Banking To close the conversation, we asked Scott how he envisions the future of correspondent banking. He expects the industry to move steadily toward deeper automation and more intelligent systems that take on the heavy operational lifting. In his view, technology will increasingly handle the routine work, while people concentrate on higher-value tasks that rely on judgment rather than repetition. “We want to help customers use our data more effectively by building applications that go further into the value chain,” he said. He explained that the goal is not to replace human decision-making but to ensure that experts are spending their time on meaningful analysis instead of administrative checks. Scott also highlighted that Bankers Almanac is preparing for the next generation of payment ecosystems, particularly those involving digital currencies and stablecoins, where new forms of risk and compliance will emerge. Our discussion made it clear that Bankers Almanac is far more than a 180-year-old institution preserving its legacy. It is an organisation that has adapted repeatedly to meet the demands of modern banking. In an environment where speed and security must advance in tandem, and where fraudsters increasingly wield advanced technologies, the ability to deliver clarity may be one of the most valuable capabilities in global finance. For many of the world’s largest banks, that clarity still comes from Bankers Almanac. Featured image: Edited by Fintech News Singapore based on images by watercolor_vect via Freepik and Scott Manson via LinkedIn. The post Inside the Platform, Majority of the World’s Biggest Banks Rely On Every Single Day appeared first on Fintech Singapore.

Endowus, an independent wealth advisor and investment platform in Asia, has launched its Income Enhanced Portfolio, available to professional and accredited investors in Hong Kong and Singapore. The portfolio is designed to provide diversified income solutions, drawing on a broader range of opportunities to manage risk and potentially enhance returns. As global interest rates begin to ease and yields on traditional income products decline, investors are seeking reliable income without excessive concentration risk. The Income Enhanced Portfolio offers two approaches: Conservative and Aggressive. The Income Enhanced Conservative strategy aims for reliable income with a focus on capital preservation. It combines an investment-grade fixed income core with additional return sources, including absolute-return fixed income funds, where returns are less dependent on market movements. Specialist manager selection also contributes to portfolio performance. Samuel Rhee, Chairman and Group Chief Investment Officer, said, Samuel Rhee “Income investing isn’t about chasing the highest yield. It’s about achieving better risk-adjusted outcomes while still meeting your income needs. With this strategy, we’ve taken a more intentional approach to manage risks more deliberately so investors can pursue yield with greater resilience through different market cycles.” The Income Enhanced Aggressive strategy targets higher potential income for investors willing to accept greater risk. It draws on a broader range of income sources, including frontier and emerging market bonds, as well as financial credit instruments. These markets are diversified within the portfolio, and experienced fund managers actively manage it to deliver a more resilient income stream. The portfolio balances return drivers across different market conditions instead of relying on a single asset class, providing a considered approach to income investing in a changing market environment.     Featured image credit: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik The post Endowus Launches Income Enhanced Portfolio for Professional Investors appeared first on Fintech Singapore.

Singapore-based payment services provider MetaComp has raised US$22 million in a Pre-A funding round aimed at scaling its cross-border stablecoin payment infrastructure. The company announced the funding on 9 December 2025. It is regulated as a Major Payment Institution by the Monetary Authority of Singapore (MAS). Eastern Bell Capital, Noah, Sky9 Capital, Freshwave Fund, and Beingboom Capital participated in the funding round. According to the company, the funds will support the expansion of its StableX Network. This hybrid payment rail is designed to bridge traditional finance systems like SWIFT with stablecoin networks. MetaComp stated that the capital injection will facilitate its expansion across Southeast Asia, South Asia, and the Middle East. The company aims to boost its technological capabilities by enhancing the StableX Engine for liquidity management. Additionally, it will upgrade the VisionX risk-intelligence engine to strengthen compliance measures. Dr Bo Bai “Asia is entering a new stage of digital finance where settlement infrastructure must meet the standards of global trade,” said Dr. Bo Bai, Chairman and Co-Founder of MetaComp. “StableX and VisionX give enterprises the speed of stablecoins with the safeguards of regulated finance.” Tin Pei Ling, Co-President of MetaComp, noted that clarity in stablecoin regulations is encouraging enterprises to modernise settlement processes. Tin Pei Ling “Our volumes, now exceeding US$1 billion a month across more than 30 markets, show that businesses want real-time payments that combine speed with compliance. This funding allows us to scale StableX and VisionX across Southeast Asia and build the Web2.5 infrastructure that the region’s digital economy can depend on,” she said. Launched in May 2025, the StableX Engine accommodates more than 10 stablecoins, such as USDT and USDC. Ron Cao of Sky9 Capital pointed out that MetaComp occupies a strategic position to benefit as the stablecoin payment sector enters a phase of structural growth. Featured image: Edited by Fintech News Singapore based on an image by Sajawal via Freepik and Dr Bo Bai via LinkedIn. The post MetaComp Raises US$22 Million to Scale Stablecoin Payment Network appeared first on Fintech Singapore.

Universities have long operated beyond the boundaries of traditional classrooms. Their value lies in academic instruction while also acting as connectors, linking students, researchers, employers, and industry leaders in ways that accelerate learning and innovation. This symbiotic ecosystem matters as it exposes students to real-world expectations early, gives companies access to emerging talent, and allows research to be tested against practical industry needs. This was evident at the NTU FinTech Industry Day 2025, hosted by the School of Physical and Mathematical Sciences (SPMS) in November. The event brought together more than 450 participants and over 20 industry partners, supported by the Monetary Authority of Singapore (MAS) and the Singapore FinTech Association (SFA), creating a curated environment where ideas, expectations, and emerging trends converged. Emerging Trends and Shifting Talent Expectations Discussions throughout the event converged to deliver first-hand exposure on career pathways in digital finance, real-world fintech use cases, and hiring expectations and in-demand skills, all of which are reshaping how fintech works today. Industry leaders delivered insights on emerging technologies, industry shifts, and talent expectations in the digital finance field. Building on these observations, Professor Boh Wai Fong, NTU’s Vice President of Lifelong Learning and Alumni Engagement, highlighted the broader national context. Prof Boh Wai Fong She reiterated that Singapore’s Smart Financial Centre vision depends on developing a world-class talent pool equipped for emerging roles across AI, blockchain, and other technology-driven sectors. Citing the World Economic Forum, she emphasised that 39% of today’s skills will be outdated by 2030. She added that this shift will intensify demand for capabilities in areas such as regtech, compliance, blockchain and Web3, and cybersecurity. Kenneth Gay, Chief Fintech Officer at MAS, shared how the next decade of finance will be shaped by three forces: agentic AI, programmable money, and quantum-safe infrastructure in his industry keynote speech. Following the event, he shared on LinkedIn, Kenneth Gay “Singapore needs your curiosity, your boldness, and your commitment to innovation that creates trust. The world is watching what you’ll build next.” The conversations underscored what future professionals already foresaw: that fintech will need more than technical proficiency to truly come alive. Exclusive Real-World Exposure Through Industry Participation The exhibition grounds served as a lively ecosystem of ideas, with companies ranging from global financial institutions to emerging fintech innovators. Students engaged directly with teams from Fiuu, Huawei, Bank of Singapore, EY, GfK, Monee, Citadel, Murex, Quantedge, and GFI, as well as spotlight partners including FOMO Group, AXS, Marex Group, UOB Kay Hian, and Fintech News Network. These interactions gave students a clearer view of market expectations and provided clarity on career trajectories, helping them connect their academic training with the dynamic realities of the industry. For Jinsheng (Justin) Chong, an incoming MAS intern and undergraduate student from NTU SPMS, the keynote address by Kenneth Gay stood out as a defining moment of the day. In his LinkedIn post, Justin shared how the keynote covered AI’s transformation in the financial sector, from “behaviour-based fraud detection to Singlish-capable customer service models.” The subsequent panel discussion further shaped students’ understanding of what drives long-term career success. It featured Alvinder Singh, Head of Innovation, Acceleration Office at MAS; Holly Fang, President of the Singapore FinTech Association; Lim Keng Swee, Head of Product Management and Country Head at Fiuu; and Professor Boh Wai Fong. For Justin, this panel provided him with crucial takeaways, like how academic proficiency delivers a strong foundation, but success in the industry increasingly hinges on curiosity and motivation. He also noted the emphasis recruiters place on team contribution, observing that individuals who elevate team performance create the greatest impact. Jinsheng (Justin) Chong “As an incoming intern, I appreciated the chance to speak with MAS. I also enjoyed visiting the company booths, including Citadel. Grateful to the school for organising this for us students.” These insights and interactions left him and his peers feeling more confident and better prepared for their futures in the fintech sector. Alumni Reflections and the Strength of Community A standout moment of the NTU FinTech Industry Day 2025 was the return of NTU alumni who have since carved out notable careers across research, banking, technology, and fintech. Their reflections gave students a glimpse into what it would take to thrive in competitive fields, from deepening technical expertise to staying adaptable and in-the-know as industries evolve. Louis Liu, Founder and CEO of FOMO Pay, shared how his journey began at NTU, where he received the NTU Excellent Graduate Award in 2015 before going on to be included in Forbes 30 under 30 in 2018. Louis Liu Louis spoke about the opportunities and challenges ahead for the industry, touching on evolving regulatory frameworks for stablecoins and tokenised assets, as well as how global corporations such as Visa are beginning to adopt stablecoins at scale. Another such voice was Hazelle Lim, now a business analyst at Standard Chartered Bank. Hazelle completed her Bachelor’s in Communications with a second major in Business at NTU, and is now pursuing her MSc Fintech at NTU’s School of Physical and Mathematical Sciences. She is also a recipient of the SG100 Women in Tech Award 2025. Hazelle Lim Hazelle spoke openly about life after graduation and offered grounded advice on building a career, reminding students that their network is, quite literally, their net worth. Speakers like Hazelle reinforced the strength of the NTU community, showing students that there is no single path into fintech. Instead, success is built on continuous learning, resilience, and the willingness to grow alongside a dynamic industry. Strengthening Singapore’s Fintech Talent Pipeline The strong turnout, high-quality dialogue through industry spotlights, and multi-sector participation affirmed NTU’s position as a key contributor to Singapore’s fintech talent landscape. The event showcased the university’s commitment to equipping students with the analytical, quantitative, and technological competencies needed to thrive in a digital-first economy. But beyond the technical takeaways, the NTU FinTech Industry Day 2025 also highlighted something less tangible yet equally important: the power of a connected community working together to prepare future talent. In line with the themes discussed during the event, NTU offers a range of postgraduate fintech programmes in areas such as applied AI, analytics, and enterprise AI. These programmes represent some of the academic pathways available to individuals who want to deepen their capabilities in the fields discussed during the event. Featured image: Edited by Fintech News Singapore based on image by Nanyang Technological University Singapore The post NTU FinTech Industry Day 2025 Showcased What “Future Fintech Talent” Really Means appeared first on Fintech Singapore.

Bybit has announced a strategic partnership with an affiliate of Circle. The partnership will expand USDC access across Bybit’s global ecosystem and will strengthen liquidity in the stablecoin and support Bybit’s position as a regulated platform. Under the partnership, Bybit will enhance USDC liquidity across spot and derivatives markets. This aims to provide a more efficient trading environment for retail and institutional users. Both companies plan to introduce initiatives to increase the use of USDC across Bybit’s products. These include Bybit Earn for savings, Bybit Card for cashback rewards, and Bybit Pay for everyday transactions. Fiat on- and off-ramp solutions will also be expanded. This will leverage Circle’s infrastructure alongside Bybit’s global reach to facilitate deposits and withdrawals in key markets. Bybit was among the first companies to join the public testnet of Circle’s Arc network. Arc is a layer-1 blockchain designed for stablecoin-native finance. The testnet, launched in October 2025, has seen broad participation from financial and infrastructure stakeholders worldwide. Regulatory compliance remains a central focus for Bybit. The exchange recently obtained a full Virtual Asset Platform Operator License from the UAE’s Securities and Commodities Authority and has expanded regulatory oversight across the European Economic Area, Turkey, and other jurisdictions. USDC maintains full backing with liquid cash and cash-equivalent assets and redeems at a 1:1 ratio with the US dollar. Regulated financial institutions hold the reserves, and independent third parties provide monthly attestations. Ben Zhou, Co-founder and CEO of Bybit, said: Ben Zhou “Bybit’s partnership with Circle represents a major milestone in our mission to offer a fully compliant, liquid, and user-friendly ecosystem. From trading to payments to savings, we are integrating USDC to power the next phase of our platform’s growth and stability.” Jeremy Allaire, Chairman, Co-founder, and CEO of Circle, added: Jeremy Allaire “Together, Circle and Bybit are making it easier for users to access and use USDC with the confidence, transparency, and speed they expect.”       Featured image credit: Edited by Fintech News Singapore, based on image by jimjemrangga and smartmalik6384 via Freepik The post Bybit Partners with Circle to Expand USDC Access and Liquidity appeared first on Fintech Singapore.

The way we pay has changed more in the past five years than in the previous fifty. But as real-time payments become the global standard, the industry is entering a new phase. In this interview, Fintech News Network’s Vincent Fong sits down with Hasan Khan, Business Head for Cards & Unsecured Lending at Trust Bank, to unpack what The Next Chapter in Payments looks like. They discuss why the industry’s obsession with “speed” is shifting toward “strategic friction” to combat the $4 billion lost to scams in Singapore. Hasan also reveals how Trust Bank utilizes cloud-native infrastructure to achieve the world’s fastest onboarding journey and how they use gamification to make financial wellness engaging. Key Topics Discussed: The Next Chapter: Why real-time payments are now “table stakes” and safety is the new differentiator. The Fraud Crisis: With money moving faster than ever, Hasan explains why “strategic friction” is necessary to protect customers. Disrupting FX Fees: How a 0% foreign exchange strategy became a primary tool for customer engagement. Tech-Driven Scale: Inside the AWS and Euronet partnership that powers a net 3-minute onboarding journey. Gamification: Moving beyond boring charts to create “Budget Buddy,” a character-driven payment analysis tool. The post The Next Chapter in Payments: Safety, Experience & Speed | Hasan Khan (Trust Bank) appeared first on Fintech Singapore.

Granite Asia has completed the first close of its Pan-Asia private credit strategy, Libra Hybrid, raising more than US$350 million. The strategy, which targets US$500 million in total commitments, is anchored by Temasek through its private credit platform Aranda Principal Strategies, Khazanah Nasional Berhad, and the Indonesia Investment Authority (INA). It also drew capital from global institutional investors and sovereign wealth funds. Additional commitments came from Granite Asia’s general partners and the firm’s long-standing network of founders and entrepreneurs. The fund has deployed and committed around 30% of its available capital across six transactions. Several additional deals are in progress across a diversified pipeline. This move into private credit builds on Granite Asia’s 25-year track record in technology investment. Over that period, the firm has supported more than 500 companies and 63 global IPOs. The credit strategy focuses on performing credit opportunities across Asia. It provides structured, non-dilutive capital to profitable enterprises pursuing growth and business transformation. Ming Eng “We’re seeing strong demand for private credit from companies undergoing transformative growth, redesigning supply chains, expanding into new markets, or modernising through technology,” said Ming Eng, Managing Partner at Granite Asia, who leads the private credit strategy. “These businesses require not just financing solutions beyond traditional equity or debt, but a trusted partner with specialised expertise and a deep regional track record.”     Featured image credit: Edited by Fintech News Singapore, based on image by smartmalik6384 via Freepik The post Granite Asia Raises Over US$350M, Anchored by Temasek appeared first on Fintech Singapore.

Identity verification platform Trulioo has announced it is joining Google’s Agent Payments Protocol (AP2) initiative to support secure, agent-led payments across digital platforms. The collaboration aims to establish a framework for trust and accountability as AI agents increasingly handle transactions on behalf of users. Google launched AP2 to provide an open, standardised framework for digital payments that connects financial institutions, fintechs, and merchants. The protocol creates a common language designed to allow AI agents to initiate and complete transactions. Crucially, it maintains necessary transparency, authorisation, and compliance standards across different ecosystems. As part of the initiative, Trulioo will apply its identity verification infrastructure. The goal is to demonstrate the utility of a “Digital Agent Passport” (DAP). The DAP intends to introduce a verifiable trust layer within AP2. This mechanism works in tandem with the company’s “Know Your Agent” (KYA) framework. This mechanism is designed to ensure that digital agents are authenticated, authorised, and held accountable prior to executing any transaction. Vicky Bindra, CEO of Trulioo, commented on the necessity of establishing trust within autonomous commerce. Vicky Bindra “The future of commerce belongs to agents that can think, act and transact independently, but only if they can be trusted,” Bindra said. “By joining AP2, we’re helping define the identity backbone for autonomous payments, where verified agents transact transparently, responsibly and at machine speed”. This move deepens the existing relationship between the two companies, as Google currently leverages Trulioo’s Global Identity Platform for Know Your Customer (KYC) verification, fraud prevention, and abuse mitigation across its payments organisation. Featured image: Edited by Fintech News Singapore based on an image by rawpixel.com via Freepik. The post Trulioo Joins Google Agent Payments Protocol to Secure AI Transactions appeared first on Fintech Singapore.

PvX, a Singapore-based financial services platform for consumer applications, has announced it has surpassed US$250 million in committed user acquisition (UA) financing facilities. The platform has committed this capital to 20 mobile gaming and consumer app companies in its existing portfolio. The balance sheet for these financing commitments is provided by General Catalyst, an existing investor, through its Customer Value Fund (CVF). Alongside this milestone, PvX has raised a US$4.7 million seed extension led by Z Venture Capital, the corporate venture capital arm of LY Corporation. The round also saw participation from Drive by DraftKings and existing investors General Catalyst, Play Ventures, and Storyhouse Ventures. The firm will use the proceeds from the seed extension to build out its SaaS services, specifically its proprietary machine-learning platform, PvX Lambda. Lambda analyses industry trends and forecasts outcomes to support underwriting and capital allocation decisions. According to the company, this technology was central to evaluating the 20 companies eligible to access the new capital commitment. PvX operates using a “cohort financing” model, which provides non-dilutive funds for marketing. Unlike traditional venture capital, PvX does not take an equity stake in exchange for this financing. Instead, the capital functions as a revolving facility where companies draw funds over 12 to 24 months and repay the principal plus a fixed, capped percentage of the revenue generated from the deployed capital. Joe Wadakethalakal “Surpassing US$250 million in commitments alongside this new round underscores the demand we’re seeing for financing that is both flexible and tied directly to growth,” said PvX Co-Founder and CEO Joe Wadakethalakal. Daniel Song of Z Venture Capital pointed out that high acquisition costs and restrictive financing are significant hurdles for founders, praising PvX for using its combined gaming and financial expertise to help startups scale efficiently. Featured image: Edited by Fintech News Philippines based on an image by pvproductions via Freepik and PvX Partners. The post PvX Secures US$250M Financing Capacity and Raises US$4.7M Seed Extension appeared first on Fintech Singapore.

Airwallex has raised US$330 million in a Series G funding round led by Addition, with participation from T. Rowe Price, Activant, Lingotto, Robinhood Ventures, and TIAA Ventures. The round values the company at US$8 billion, a roughly 30% increase since its Series F six months ago. The funding will support growth in the US and other key markets, alongside expanded AI recruitment and product development. The company has established a second global headquarters in San Francisco and plans to invest over US$1 billion from 2026 to 2029 to scale US operations, attract talent, and extend its presence. Jack Zhang “We believe the future of global banking will be borderless, real-time, and intelligent,” said Jack Zhang, co-founder and CEO. “Legacy providers are fundamentally incompatible with how modern businesses operate. We’re building a modern alternative, a single platform that powers global banking, payments, billing, treasury, and spend on top of proprietary financial infrastructure. This capital will accelerate our growth, extend our technical leadership, and strengthen our position in the US and across key markets worldwide.” Airwallex reported annualised revenue of more than US$1 billion in October, up 90% year-on-year, and annualised transaction volume of over US$235 billion, doubling year-on-year. Around half of its customers use multiple products. The company holds 80 licenses worldwide, enabling operations in more than 200 countries. It expanded regulated operations in 12 new markets in 2025, including France, the Netherlands, Israel, Canada, Korea, Japan, New Zealand, Malaysia, Vietnam, Brazil, Mexico, and the UAE. The San Francisco office will house core product, engineering, partnerships, and go-to-market teams. The company plans to double its US headcount to over 400 employees within 12 months. Airwallex currently employs over 2,000 people globally. It expects to increase its workforce by more than 50% by the end of 2026. The company is developing AI agents to automate financial workflows across payments, treasury, and spend. The first, an Expense Submission Agent, collects receipts, matches transactions, categorises expenses, and completes submissions. A forthcoming Expense Policy Agent will verify submissions against company policies, reducing manual review and streamlining processes.     Featured image credit: Edited by Fintech News Singapore, based on image by fledermausstudio via Freepik The post Airwallex Secures $330M Series G, Eyes US Growth and AI Expansion appeared first on Fintech Singapore.

10x Banking, a cloud-native core banking platform, has partnered with audax, a digital banking technology provider supported by Standard Chartered, to help banks in Asia Pacific, Europe and the Middle East modernise their core systems and expand digital offerings. Research by 10x Banking indicates that 93% of APAC banking leaders consider the right platform critical to future success, yet two-thirds remain concerned about migration risk. In APAC, 67% of executives acknowledge they are falling behind in digital transformation, while only 8% prioritise core banking. Fintech in the region is expected to grow at over 21% CAGR through 2028, as QR payments, digital wallets, and cross-border transactions drive expansion. The partnership allows audax to deploy digital banking capabilities in as little as six months while banks use 10x Banking’s platform, adopted by institutions including Chase UK, Westpac and Old Mutual. Antony Jenkins, Founder and CEO of 10x Banking, said: Antony Jenkins “This partnership shows banks don’t need to choose between speed and resilience, they can have both. By combining 10x Banking’s modern core with audax’s digital agility, banks in high-growth regions can innovate at pace, minimise risk, and deliver lasting customer value.” Kelvin Tan, CEO of audax, added: Kelvin Tan “Traditional core banking projects take years and cost tens of millions. Our partnership with 10x Banking changes that equation entirely, banks can launch full digital services in as fast as six months for a fraction of the cost.” 10x Banking processes over a billion real-time transactions annually and maintains 99.99% uptime. It can also onboard 60,000 customers in a single day. audax has implemented digital banking solutions integrated with ecosystem platforms serving over 150 million users. The company is also leading Maybank Islamic’s digital transformation. Together, the firms help banks modernise infrastructure incrementally and reduce technical debt. They also support the introduction of new services such as Banking-as-a-Service, digital wallets, and super apps. The partnership ensures compliance across diverse regulatory environments.     Featured image credit: Edited by Fintech News Singapore, based on image by Borin via Freepik The post 10x Banking, audax Partner on Core Banking Modernisation appeared first on Fintech Singapore.

Vietnamese consumers are favoring digital channels and social commerce for their Tet shopping, leveraging e-commerce platforms, social media, and messaging apps, to discover products, gather information, and make purchases. This trend underscores the profound shift in consumer shopping habits fueled by the rise of the digital economy, according to a new consumer study by market research agency Decision Lab. Tet, Vietnam’s lunar new year, is the country’s biggest cultural and economic period in the year. While the holiday is traditionally centered on giving and togetherness, consumer behavior has evolved far beyond a mere pre-holiday shopping rush. Spending now stretches across an extended period, rising in the days leading up to Tet as consumers prepare for celebration and gifting, then rebounds strongly afterwards as they shift from rewarding others to rewarding themselves. This evolving spending pattern creates distinct opportunities for brands throughout the entire Tet season. The Decision Lab study, produced in collaboration with Meta, polled more than 800 consumers in Vietnam to understand their shopping habits and preferences during Tet season. It found that digital-first behaviors dominate the purchasing journey. For retail products in particular, social media and e-commerce platforms are the primary sources of product awareness, research, and purchase. Notably, a brand’s official page on e-commerce platforms like ShopeeMall and LazMall is the most used channel for product discovery (49%), product consideration and information gathering (54%), and final purchase (44%). Retail and health and beauty products discovery phase, Source: Unveiling Tet Consumer Trends, Decision Lab, 2025 Results vary for health and beauty (H&B) products. During discovery, 40% self-search for information online or contact sellers via messaging apps. During the consideration phase, 58% gather additional information by directly contacting the seller through messaging apps, or by searching for information on social media posts. For final purchase, shoppers typically complete the transaction directly with the seller through messaging apps like Facebook Messenger, or Zalo. Retail and health and beauty products consideration phase, Source: Unveiling Tet Consumer Trends, Decision Lab, 2025 The popularity of social media platforms and messaging apps across the discovery and consideration phase underscores the growing influence of digital ecosystems in shaping consumer decisions across the purchase journey. This influence is concentrated within a handful of channels. Among Tet shoppers, 27% said that Meta’s Family of Apps (FOA), comprising Facebook, Instagram, Messenger, and WhatsApp, was the only channel that they used to purchase a retail product most recently. For H&B products, this figure rises to 53%. Retail and health and beauty products purchase channels, Source: Unveiling Tet Consumer Trends, Decision Lab, 2025 Changing spending patterns and payment preferences Vietnamese consumer spending accelerates during the Tet season, with several key trends and shifts emerging over the past years. 2024 data from Visa reveal that international expenditure is growing twice as fast as domestic spending, an increase which is attributed to rising overseas travel and a strong growth in cross-border e-commerce. Vietnamese consumers are also growing more confident in online shopping, even for traditionally physical interaction-heavy categories like insurance, transport, and lodging. These areas were the top three categories for e-commerce transactions last year. Payment methods used are also changing. Between January and February 2024, 64% of Visa card transactions in Vietnam were contactless, reflecting growing acceptance of contactless payments. According to Visa’s Consumer Payment Attitudes 2023 study, at least 74% of Vietnamese consumers frequently use contactless payments, particularly mobile wallets, for food and dining, shopping, and convenience store purchases. An increasing number of consumers are also using their credit cards domestically. A separate study that more than half (55%) of the Vietnamese consumers polled preferred using their credit cards when shopping in Vietnam because of rewards, miles and cashback offers. Vietnamese consumers embrace AI The Decision Lab study also reveals rising consumer adoption of AI tools throughout the purchase journey. Of the consumers polled, 20% use AI to search for shopping information, and 18% to find locations, reflecting increased reliance of AI for information retrieval and real-time assistance. Furthermore, 13% use AI to track spending and budget planning, highlighting AI’s growing role as a real-time personal financial management tool. But AI adoption in Vietnam extends well beyond shopping. A separate study by Decision Lab shows that 78% of consumers have used at least one AI platform in the past three months, and 33% are now integrating AI into their daily routines. Vietnamese users mostly use AI for work and education purposes, entertainment, and daily routines. Top applications include getting updates and information (37%), learning new skills (34%), and translating content (33%).  When asked about their main motivations for using AI, consumers most often cites saving time (67%), simplifying learning (60%), boosting creativity (51%), and improving accuracy (48%). Though consumer AI usage in Vietnam is led by global leaders ChatGPT (81%), Gemini (51%) and Meta AI (36%), homegrown platform AI Hay ranks second in users satisfaction. This underscores the relevance of local AI solutions tailored to Vietnamese users’ needs and context. AI adoption in Vietnam by activity, Source: Unveiling Tet Consumer Trends, Decision Lab, 2025 Vietnam’s booming e-commerce market Total e-commerce transaction value in Southeast Asia reached US$100 billion in 2024. Vietnam accounted for US$25 billion of this, making it one of the fastest-growing e-commerce markets in the region and placing it among the top ten globally with over 60 million online shoppers, according to Lai Viet Anh, deputy director general of the Vietnam’s Department of E-commerce and Digital Economy. Growth continues into 2025, with sales across the country’s four major e-commerce platforms, namely Shopee, Lazada, Tiki, and TikTok Shop, rising nearly 42% year-over-year (YoY) in H1 2025 to reach VND 202.3 trillion (US$7.8 billion). Total sales volume also increased, growing 25.4% YoY to 1.9 billion products. Within this market, social commerce subset is expanding rapidly, with “shoppertainment” gaining particular momentum. This model blends video content with real-time shopping, making the shopping process more interactive and enjoyable, which in turn increase sales and customer loyalty. Among the Vietnam’s biggest e-commerce platforms, TikTok Shop, a leading shoppertainment channel in the country, led in growth with a 69% YoY surge in revenue. The platform also saw its market share increase from 29% to 39%, further underscoring the growing influence of shoppertainment.   Featured image: Edited by Fintech News Singapore, based on image by mohammadhridoy12 and ganzevayna1 via Freepik The post Vietnamese Consumers Turn to Digital Channels and Social Commerce for Tet Shopping appeared first on Fintech Singapore.