Nexus Venture Partners (Nexus), a Silicon Valley venture capital firm investing in early-stage startups in the US and India, has closed Nexus Ventures VIII, a US$700 million fund focused on AI, enterprise software, consumer and fintech companies at the inception, seed and Series A stages. The fund includes long-standing limited partners who have supported the firm since its early years. Founded by entrepreneurs and engineers with technical and operating experience, Nexus has built a two-decade track record as an early-stage investor. The firm has backed more than 130 companies and recorded over 30 exits, including several IPOs. Its portfolio spans AI infrastructure, developer platforms, open-source technologies, AI agents, consumer businesses and fintech. In a statement, Nexus partners said: “From infrastructure to applications, every layer of the tech stack is getting rewritten by AI. Agentic AI is transforming how work gets done, bringing a whole new wave of augmentation and automation across industries.” They added: “Over the years, we have had the pleasure of backing several founders from the early days of their journeys, who have gone on to take their companies public or are poised to do so soon. With Fund VIII, we’re doubling down on visionary entrepreneurs solving the hardest problems and shaping the next wave of global innovation.” Nexus invests across the Bay Area and India, two of the world’s largest startup ecosystems, supported by its network and operational experience in both markets. The firm says this approach positions it to support founders building companies across these geographies.     Featured image credit: Edited by Fintech News Singapore, based on image by freepik The post Nexus Venture Closes US$700 Million Early-Stage Fund appeared first on Fintech Singapore.

Ho Chi Minh City (HCMC) is preparing to put its international financial center (IFC) into operation, with organizational and staffing arrangements largely finalized, Saigon Giai Phong, a Vietnamese Communist Party newspaper, reported on November 22, 2025, citing HCMC People’s Committee Chairman Nguyen Van Duoc. The IFC will be located in Saigon Ward, Ben Thanh Ward, and the Thu Thiem Urban Area in An Khanh Ward, covering a total area of nearly 900 hectares. It will be equipped with high-speed Internet network covering the entire IFC venue, while the municipal Department of Science and Technology currently building an online information portal for the hub. Associate Professor Dr. Nguyen Huu Huan, a member of the IFC consulting team, said that the city is working with leading global and Vietnamese technology corporations to prepare infrastructure for the IFC. It’s partnered with the US Nasdaq Stock Exchange on governance, capacity building, cross-listing, and product development. Nasdaq is providing technology and technical services for the development and operation of the IFC, in addition to training Vietnamese professionals in securities, bonds, derivatives, digital assets, and carbon credit markets. The two sides have also committed to exchange best practices and experiences in the development of legal frameworks, operating mechanisms, risk management, product development, and international investment attraction, and will focus on strengthening businesses connections between Vietnamese, US, and global financial communities. HCMC is also working with the New York Institute of Finance to implement practical financial and investment training programs following international standards. HCMC’s IFC is expected to completed within five years, with preliminary total investment for the project estimated at around VND 172,000 billion (US$7 billion). Speeding up IFC initiatives News of HCMC’s progress follows an official telegram issued earlier in November by Vietnam’s Prime Minister Pham Minh Chinh, which urged relevant authorities to accelerate efforts to launch IFCs. These authorities include the Ministers of Finance, Public Security, Industry and Trade, Agriculture and Environment, Home Affairs, Justice, the Governor of the State Bank of Vietnam, and the Chairmen of the People’s Committees of HCMC and Da Nang. The Prime Minister called for establishing a Government Steering Committee to oversee the development of these IFCs, and instructed HCMC and Da Nang to cooperate with relevant agencies to promptly issue preferential policies and create favorable working and living conditions for international investors, covering healthcare, insurance, education, culture, and sports. They were also urged to nominate personnel for review by the Ministry of Finance. The government wants to launch its two IFCs in HCMC and Da Nang, a coastal city in central Vietnam, by the end of the year. Da Nang IFC to focus on fintech, green finance In Da Nang, Chairman of the city People’s Committee Pham Duc An said in October that the city was still working on establishing its IFC, focusing especially on formulating policies, upgrading infrastructure, building data centers, improving airport and seaport facilities, establishing free trade zones, training human resources in international finance, and piloting different management models. Da Nang’s IFC is intended to serve as a “laboratory” for new financial models, particularly in green finance, trade finance, and fintech. It strives to boost fund management activities to support fintech startups, and will promote green finance products and initiatives to support Vietnam’s net-zero goals and global sustainability vision. The center also seeks to develop cross-border trade finance linked to its seaports, logistics, and international tourism, along with offshore financial services for organizations, foreign-invested enterprises, and global investors. Finally, it will focus on fostering a favorable financial environment for small and medium-sized enterprises (SMEs) and innovative startups, working with ministries and agencies to develop a conducive regulatory landscape. Da Nang established the Advisory Council for the Development of Vietnam’s IFC in August 2025, consisting of 17 stakeholders, Theinvestor.vn reported. The council is responsible for research and policy advice on development strategy, governance model, incentives for the center, training programs, and policies to attract global experts and overseas Vietnamese professionals. Da Nang has partnered with a number of stakeholders to reach its objectives, including Vietcombank, Saigon Securities (SSI), VNPay, Frankfurt Main Finance, Tether, Apex Group, ARK Global, the Global Green Growth Institute, the Swiss Fintech Association, and the Vietnam Young Entrepreneurs Association in Europe. These partnerships aims to help attract investors to the Da Nang IFC, promote joint outreach in international markets, connect the center with global capital markets, produce guidance materials, and develop regulatory frameworks for emerging technologies. Da Nang is targeting double-digit economic expansion for the year. To date, the city has attracted 1,282 foreign direct investment (FDI) projects with total registered capital of over US$10.96 billion. Vietnam’s IFC ambitions Vietnam’s National Assembly passed on June 27, 2025, a resolution on the development of IFCs in Vietnam. Effective from September 01, the resolution draws heavily on global models and outlines the development of IFCs located both in HCMC and Da Nang, with a unified regulatory framework but tailored products based on each city’s strengths. These IFCs aim to serve as hubs that connect markets, foster innovation, and improve governance and transparency while attracting investment and deepening global integration. They strive to create new momentum for socio-economic development, enable economic growth of at least 8% in 2025 and a double-digit expansion from 2026 onward, and help Vietnam achieve its long-term goal of becoming a modern, high-income nation. HCMC will focus on capital markets, banking, currencies, financial innovation sandboxes, and advanced trading platforms, serving as the nation’s main liquidity center. Meanwhile, Da Nang will focus on green finance, fintech, digital services, controlled testing of digital assets and currencies, and attracting investment and remittance funds, leveraging its strengths in logistics, tourism, coastal industries, and the East-West Economic Corridor. Within these IFCs, priority sectors will enjoy a preferential corporate income tax rate of 10% for 30 years, with a maximum corporate tax exemption of four years, as well as a 50% reduction on payable tax in the following nine years. Other projects will benefit from a 15% rate for 15 years, two years of tax exemption, and a 50% reduction for the next four years. Foreigners working in the center will be exempt from personal income tax until the end of 2030. By 2035, Vietnam aims of its IFCs to rank among the top 75 financial centers in the world and among the top 20 by 2045.   Featured image: Edited by Fintech News Singapore, based on images by Peter Nguyen and Anh Nguyen via Unsplash, and rachenzero via Freepik The post Ho Chi Minh City Readies International Financial Center; Da Nang Targets Green Finance, Fintech appeared first on Fintech Singapore.

Singapore’s fintech scene never really has a slow season, but 2025 has been unusually packed. Some stories shook consumer confidence, others sparked long debates about trust and regulation, and a few reminded the region that Singapore is still pushing big ideas on the global stage. Here’s a look at five of the biggest stories that shaped the conversation this year, in no particular order. Tokenize Xchange Collapses And Leaves A S$266 Million Hole The year began with a jolt when Tokenize Xchange, once a familiar name among local crypto users, collapsed and left more than S$266 million owed to customers. Over 2,200 users filed claims, and many more continued surfacing as details came out. The company had been running under a temporary exemption while waiting for a licence under the Payment Services Act. When MAS rejected the application, everything unraveled at once. Withdrawals were delayed, client assets were suspected to be mishandled, and the firm’s director found himself facing charges. The situation didn’t just hit Tokenize users. It reopened the broader conversation about whether temporary exemptions still make sense in a market where consumer protection is becoming non-negotiable. Reality quickly shattered the illusion that ‘grey areas’ offered safety. Now, news are swirling that its users are sueing the founder and his wife, over S$60 Million for alleged losses. And as if one headline about trust wasn’t enough, the country then found itself dealing with a very different kind of crisis. Singapore’s New Transfer Safeguard Sparks a Nationwide Debate The news above confirms that scams have been getting more convincing, so banks stepped in with a safeguard that slows down large digital transfers. From 15 October, anyone with at least S$50,000 in their account will have a transfer paused if it moves more than half the balance in a day. The idea is to give people a moment to think before acting under pressure, especially since most scam cases happen through digital channels. What sounded simple quickly turned into one of the biggest debates of the year. Reddit users worried about missed property deadlines, stalled investment moves and frozen business payments. Some felt the rule was too blunt, especially when transfers between one’s own accounts were treated the same as transfers to strangers. In industry circles, the view was different. Regulators and banking leaders reminded the public that the safeguard is there to protect people during moments of stress, not to make banking more convenient. Under the Shared Responsibility Framework, banks must step in if something looks off, even if it means slowing everyone down a little. It ultimately became a question about how people think digital banking should work. Some want full speed and no friction, while others are willing to trade a bit of convenience for peace of mind. Either way, the debate showed that Singaporeans care deeply about how their money moves and how the system evolves. Chocolate Finance’s Turbulent Month Becomes a Test of Trust While Singapore was arguing about transfer rules, Chocolate Finance ended up facing its own pressure test. The company paused instant withdrawals after a wave of customers rushed to cash out. It all started when Chocolate removed AXS payments from its debit card, a feature that had become popular thanks to a generous two-miles-per-dollar partnership. Taking it away sparked immediate confusion and left people anxious. Withdrawals suddenly took days instead of minutes. MAS stepped in to ensure everything was handled properly and assured the public that customer funds were safe and held by independent custodians. Over the next week, Chocolate cleared most of the backlog, raised spending caps again and slowly returned to normal operations. The firm explained that the pause wasn’t a liquidity problem but a spike in transaction volume that overwhelmed their systems. Walter de Oude took responsibility for the communication gaps and acknowledged how quickly trust can be shaken in financial services. The episode became a reminder of how sensitive customer confidence can be. Even a well-regulated fintech can stumble when rewards, user behaviour and product limits collide. For customers, it was a lesson in patience. For the industry, it reinforced the idea that bold ideas still need steady foundations. Singapore Forms SPaN to Strengthen National Payment Governance Singapore also had a story that pointed in a different direction, you know, after these news about scams, safeguards and service disruptions. It is taking a step to tidy up its payments landscape with the launch of SPaN, the Singapore Payments Network. It is a new hub designed to oversee the country’s national payment schemes, make governance smoother, and give innovation a bit more room to breathe. SPaN is a not-for-profit company, backed by the Monetary Authority of Singapore (MAS) and the country’s major banks, including Singapore’s Domestic Systemically Important Banks (D-SIBs). The idea is simple. It is going to get all the key players together, make sure the rules are clear, and create a framework where both national and cross-border payment schemes can operate efficiently and safely. A board of directors is already in place to guide SPaN through its early stages, aiming for full operational readiness by the end of 2026. The 11-member board includes representatives from MAS, both bank and non-bank financial institutions, and four independent industry directors. Beyond just setting the rules, SPaN will personally handle who gets to join the national payment grid, ensuring every player sits under the same roof. The payment schemes moving under SPaN’s watch include familiar names like FAST, PayNow, Inter-bank GIRO, the Singapore Dollar and US Dollar Cheque Clearing Systems, eGIRO, Electronic Deferred Payment, and the Singapore Quick Response Code. It’s a comprehensive list that touches nearly every corner of Singapore’s payment ecosystem. Nexus Global Payments Officially Launches In Singapore Singapore also had a story that pointed in a different direction, you know, after these news about scams, safeguards and service disruptions. While the city was tightening its defences, it also became the home base for one of the region’s most ambitious payment infrastructure projects. Nexus Global Payments, built by the central banks of Singapore, Malaysia, Thailand, India and the Philippines, officially moved into its operational phase. The idea behind Nexus is refreshingly straightforward. Instead of every country trying to link up one by one, Nexus provides a single connector that joins domestic instant payment systems together. Connect once and gain access to multiple markets. It is still early, but the potential is significant. With Singapore hosting the managing entity and the European Central Bank observing the rollout, Nexus could shape how Asia handles cross-border payments over the next decade. It also stood out because it wasn’t the usual crisis-management headline. At a time when scams and service hiccups grabbed the public’s attention, this was the rare story that showed the region still moving forward with long-term infrastructure. It reminded everyone that even in a noisy year, Singapore’s fintech ambitions didn’t slow down. Wrapping Up Singapore’s Fintech Rollercoaster Year Seen together, these stories show how much the fintech landscape shifted this year. Tokenize Xchange’s collapse forced a rethink of trust and regulation. The surge in scams made Singaporeans more aware of how easily authority can be imitated. Banks introduced stronger guardrails to protect customers, which sparked a national debate about how much friction people are willing to accept. Chocolate Finance’s withdrawal pause added another lesson on how sensitive user confidence can be in digital finance. And through all of this, Singapore still pushed ahead with Nexus, a project that could redefine regional payments for years to come. It has been a year of adjustment and accountability, but also one of progress. Singapore’s fintech sector is not just responding to challenges as they arise. It is still building for the future, even when the present feels chaotic. Featured image: Edited by Fintech News Singapore based on images by kongchuenjit and pranavkr via Freepik. The post A Look Back at the Moves and Missteps Driving Singapore Fintech in 2025 appeared first on Fintech Singapore.

Stripe has agreed to acquire Metronome, bringing the billing startup’s monetisation tools into its payments ecosystem. Metronome, which provides monetisation and billing software for businesses, said customers will continue to access its services after the deal closes. The company will become part of Stripe’s product suite, connecting its monetisation logic with Stripe’s payments infrastructure. Scott Woody Co founder and CEO Scott Woody said alignment on customer focused product development was a key consideration in joining Stripe. “As part of Stripe, our mission accelerates dramatically. Customers will continue getting world-class software, and now many more people will have access to Metronome.” Metronome said the integration will accelerate improvements across its platform, including real time spend alerts, seat based credits and hierarchical account structures. It added that customers will benefit from Stripe’s global financial infrastructure and higher reliability once the acquisition is complete. The deal is subject to customary closing conditions.     Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik The post Stripe Acquires Metronome to Bolster Monetisation and Billing Tools appeared first on Fintech Singapore.

Thailand has seized more than US$300 million in assets connected to regional cyberscam groups, according to information reported by AFP through Channel News Asia. The action follows coordinated efforts in Asia, Europe and the United States that have targeted Cambodia’s Prince Holding Group and its associated businesses with sizeable freezes and confiscations. Prime Minister Anutin Charnvirakul said the seizures involve key figures flagged in earlier cross-border investigations. Those identified include Prince founder Chen Zhi, a Cambodian senator and two Thai nationals. Chen was indicted in the United States in October, where prosecutors allege he oversaw compounds in Cambodia where trafficked workers were forced to carry out online fraud. Thailand’s Anti-Money Laundering Office said about 373 million baht worth of assets linked to Chen have been taken into state custody. These include property, cash and other high-value items. Nearly US$15 million was confiscated from Cambodian senator Kok An, while roughly US$290 million was traced to two Thai suspects. Officials did not indicate when the seizures were executed. The move comes as cyberfraud hubs continue to expand across Southeast Asia, often operating from ordinary commercial spaces yet targeting victims globally. Some workers are recruited willingly, while others are trafficked and held in restrictive conditions. Authorities outside Thailand have mounted similar actions. Britain has frozen more than US$130 million in business and property assets connected to the same network, and regulators in Taiwan, Singapore and Hong Kong have issued additional orders, in some cases involving several hundred million dollars. The US Justice Department has described Prince Group as a major transnational criminal organisation and recently seized bitcoin valued at around US$15 billion that investigators believe to be illegal proceeds. Prince Holding Group has denied the allegations against the company and its founder.     Featured image: Edited by Fintech News Singapore, based on images by Freepik and Prince Group  The post Thailand Seizes Over US$300M in Assets From Prince Founder, Other Scam Suspects appeared first on Fintech Singapore.

HSBC has appointed Brendan Nelson as Group Chair, following his tenure as interim Group Chair since 1 October 2023. Brendan joined the Board in September 2023. The appointment follows a rigorous selection process that considered both internal and external candidates. Brendan brings extensive experience in financial services. He led KPMG’s Global Financial Services Practice, advising and auditing international banks, and has held board positions at BP, RBS, and HSBC. Commenting on his appointment, Brendan Nelson said: Brendan Nelson “I am honoured to be HSBC Group Chair. I look forward to continuing to work with the Board, Georges [Georges Elhedery, HSBC CEO] and the wider management team as we deliver on our strategic and financial objectives.” Brendan will continue as Chairman of the Group Audit Committee until the publication of HSBC’s Annual Results 2025 in February, after which a successor will be announced.     Featured image credit: Edited by Fintech News Singapore, based on image by lifeforstock via Freepik The post HSBC Appoints Brendan Nelson as Group Chair appeared first on Fintech Singapore.

LexisNexis Risk Solutions has upgraded its IDVerse platform to help organisations spot deepfakes and synthetic identities more accurately. The enhanced platform strengthens document checks, biometric verification and liveness detection while reducing steps in the onboarding flow. The company said the update improves accuracy, speeds up document capture and supports a simpler verification journey. Fraud attempts are becoming more complex as generative AI is used to forge identification and attempt account takeovers. Many organisations still depend on separate tools for device assessment, behavioural analysis and identity checks, creating gaps that add cost, complexity and friction. Kimberly Sutherland “Fraudsters innovate with speed and precision. Organisations can have both strong defenses and a seamless customer experience. This enhanced version of IDVerse delivers both. It enables efficient onboarding, sharper fraud detection and renewed trust at every stage of the customer lifecycle. We integrate innovative deepfake defenses and a more intuitive user experience, so organisations gain stronger protection without adding barriers for legitimate users.” said Kimberly Sutherland, Global Head of Fraud and Identity, LexisNexis Risk Solutions. IDVerse is now integrated with the LexisNexis Dynamic Decision Platform, which combines device risk insights, digital identity profiling, behavioural signals and fraud controls in a single workflow through one API. The integration is designed to give organisations a broader and more consistent view of identity risk while maintaining a smoother user experience. The upgrade expands global ID coverage across more than 220 countries and territories and supports over 140 languages and typesets. It recognises and extracts PII data from government-issued photo IDs and improves document capture through video-based liveness checks, dynamic frame optimisation and OCR stitching to reduce glare, blur and manipulated images. Capture times have dropped from an average of 12 seconds to near-instant results, with support for both front and back cameras. The verification flow now consists of six main screens, removing three steps from the previous version and reducing friction and drop-offs. A conceal mode hides the user’s image during selfie capture, which the company said improves liveness accuracy, lowers false positives and reduces abandonment. Advanced depth perception models eliminate the need to smile, improving accessibility for users with diverse abilities. A server-side deepfake detection engine identifies impersonation attempts without requiring additional user actions. LexisNexis Risk Solutions said the strengthened platform is aimed at helping financial services, gaming, retail, telecommunications and other sectors manage rising identity fraud risks while keeping digital onboarding efficient.     Featured image: Edited by Fintech News Singapore, based on image by suradechprapairat via Freepik The post LexisNexis Risk Solutions Upgrades IDVerse Platform to Counter Deepfake Fraud appeared first on Fintech Singapore.

Mastercard has introduced Mastercard Credit Intelligence, a suite of analytics tools designed to help lenders assess consumers and small businesses more efficiently. The solution is available in select markets. Credit Intelligence draws on Mastercard’s network data and proprietary insights to support faster analysis, more transparent decision-making and a broader view of potential borrowers. When combined with information such as credit bureau files and telco data, the tools can help lenders form a more complete picture of applicants and tailor underwriting decisions. Kaushik Gopal “A healthy digital economy is an inclusive one – and with the right insights, our trusted network and deep expertise, we can create new opportunities for consumers and small businesses who may have traditionally been overlooked. Together with our partners, we’re making lending smarter, more personalized and more secure – and in the process, helping to drive more entrants into the digital economy.” said Kaushik Gopal, Executive Vice President, Business & Market Insights, Mastercard. The tools can support assessments of applicants with limited credit histories. With the borrower’s permission, a bank can access network insights such as transaction categories and identity signals to supplement traditional checks. Mastercard says this approach can also help lenders evaluate small businesses planning to expand or open new locations by providing historical transaction insights that are not typically included in standard assessments. Mastercard is rolling out the suite across several markets, including the United States, Philippines, UAE, Australia and Brazil. In Brazil, acquirer Stone is using the tools to strengthen its credit offerings for merchants. In the United States, Mastercard’s open finance program is being applied to small business underwriting by integrating permissioned financial information, including cash flow analytics and payment risk insights. Jess Turner “Securely permissioned data is the cornerstone of open finance – fueling not only new financial experiences, but strengthening traditional ones like small business lending. Working with our partners to intelligently put alternative data to work, we can empower small businesses to start, grow and thrive.” said Jess Turner, Executive Vice President, Global Head of Open Finance and Developer Experience, Mastercard. Mastercard is inviting financial institutions, fintech firms, credit bureaus and technology partners to explore Credit Intelligence through Mastercard Developers, where documentation and integration tools are available. The company said availability varies by jurisdiction. Initial activities in the United States will focus on small business solutions that use permissioned open finance data together with Mastercard network insights.     Featured image: Edited by Fintech News Singapore, based on image by HobieArt via Freepik   The post Mastercard Introduces Analytics Suite for Smarte Credit Decisions appeared first on Fintech Singapore.

Circle Asia Technologies, Visa and Pismo have partnered to launch an AI-powered PayLater card in Vietnam. The card, scheduled for a phased rollout in early 2026, uses AI to assess risk, underwrite customers, and provide virtual credit cards with flexible installment options, allowing users to manage finances without a traditional bank account. The initiative involves a major commercial bank in Vietnam to ensure regulatory compliance and market reach. Arnab Ghosh “Our mission is to deliver a seamless, rewarding and inclusive financial experience for Vietnamese consumers,” said Arnab Ghosh, Founder and CEO of Circle Asia Technologies. “Circle is fundamentally redesigning the financial experience in Vietnam. By starting with a modern credit product, we can build deeper customer relationships than traditional banks or debit-focused neobanks. Working with Pismo and Visa enables us to innovate rapidly and offer convenience and security.” Varun Dudeja, Head of Business Development, APAC at Pismo, said: Varun Dudeja “Our collaboration with Circle and Visa shows how combining core processing technology with global payments infrastructure can create more transparent and accessible consumer experiences. It supports the development of a smarter digital financial ecosystem.” Pismo provides a microservices-based platform and APIs for continuous innovation. Acquired by Visa in 2024, Pismo remains network-agnostic, supporting multiple card networks.     Featured image credit: Edited by Fintech News Singapore, based on image by brilian via Freepik The post Circle Asia, Visa and Pismo Launch AI PayLater Card in Vietnam appeared first on Fintech Singapore.

Across Southeast Asia, leaders are shipping new customer experiences at record speed, yet many still run into the same wall: the core. When every change depends on vendor queues, tightly coupled code, or batch based processes, product velocity drops, compliance becomes a bottleneck, and engineering time disappears into maintenance. A better pattern is emerging among high growth institutions in the region. Move core capabilities to a modern, cloud native, API first platform that is designed for rapid change and regional compliance. This is not a rip and replace ideology. It is a pragmatic, staged approach that protects live operations while unlocking speed where it matters. Why the core is now a growth decision Source: Fujin via Freepik For fintechs, neobanks, and embedded finance platforms, the edge has moved faster than the center. Teams launch new flows in weeks, but underlying systems can take months to adapt. The result is tension between product ambition and operational reality. In Southeast Asia’s competitive market, that gap is costly. A modern core resolves the tension in three ways: 1. Time to market. Configurable products and workflows move from spec to production in weeks, not quarters. 2. Open integration. API first design lets you plug in scoring engines, onboarding, and payments without brittle workarounds. 3. Compliance agility. Real time reporting and embedded controls keep releases moving while meeting regulatory expectations. Build versus buy with clear economics Many teams start with a custom core. It works until growth, audits, and expansion expose fragility. Others inherit a legacy vendor that was not built for API ecosystems. The white paper created with IBS Intelligence details the trade offs and a simple rule of thumb: build what differentiates your customer experience, and buy the core infrastructure so your teams can focus on the edge. The research also provides a 90 day sprint to evaluate options, model total cost of ownership, and pilot safely without disrupting live operations. Proof from the region The shift is already delivering outcomes. • Salmon in the Philippines went live in under six months, with real time alerts and custom logic enabling rapid product rollout and strong early engagement. • Esquire Financing in the Philippines tripled its loan portfolio in three years, cut approvals from days to hours, and moved to paperless operations through API enabled integrations. The common thread is not a single feature. It is the operating model: an API first core, data that is accessible in real time, and a delivery cadence that lets product, risk, and compliance move together. What to do in the next 90 days Source: Freepik Baseline the bottleneck. Identify where launches slow, whether in product definition, integration, or controls. Open the data path. Ensure critical product, risk, and customer data is accessible through APIs or governed database access. AI pilots depend on this. Pilot with guardrails. Stand up a targeted product on a modern core alongside existing systems. Define success metrics, timelines, and a clear path to scale if it works. Who this helps • CEOs and founders who want faster growth without risky rewires • CTOs and CIOs who need their teams building features, not maintaining plumbing • COOs and CROs who seek real time visibility and simpler controls If your roadmap is bigger than your current foundation, now is the time to change the base in phases and with clear guardrails. The institutions winning in Southeast Asia are not the ones with the most features. They are the ones with a core that lets those features ship, learn, and improve quickly. Download the Oradian and IBS Intelligence white paper for the full analysis, real world timelines, and a 90 day plan to modernise with lower risk.   Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik The post What a Modern Core Means for Fintechs Looking to Scale in Southeast Asia appeared first on Fintech Singapore.

Banking software company Temenos has appointed Takis Spiliopoulos as its new CEO, effective immediately. He has served as the company’s Chief Financial Officer since 2019 and took on the role of Interim CEO in September 2025. He now holds the positions of CEO and interim Chief Financial Officer. The appointment follows a search process led by the board and supported by an external executive search firm, which considered both internal and external candidates. Temenos said the decision reflects the board’s assessment of his leadership experience, familiarity with the company’s long-term plans and his background in software, product development, finance and operations. Spiliopoulos has been involved in shaping the company’s strategic roadmap and overseeing its execution over the past year. Before joining Temenos, he held senior roles in investment research and technology coverage at Vontobel, where he advised clients on capital market transactions and technology investments. Earlier in his career, he worked in venture capital and in management and technology consulting for financial institutions. The company has also noted his experience working with teams and contributing to organisational culture. Temenos will now begin a search for a new Chief Financial Officer, with updates to follow. Thibault de Tersant Thibault de Tersant, Chair of the Board, said, “On behalf of the board, I congratulate Takis on his appointment as CEO. He has been instrumental in defining and executing our strategy, delivering strong results while continuing to invest for long-term growth. In his role as Interim CEO, Takis clearly demonstrated he was the right choice for the CEO role, having brought stability and an execution-focused mindset to the company. In addition to bringing our employees together, he has also helped preserve our corporate culture and values, empowering his team to deliver for all stakeholders. We are confident he will continue to drive Temenos forward.” Takis Spiliopoulos Takis Spiliopoulos, Chief Executive Officer, said, “I am honored to lead Temenos in its next chapter of growth and thank the board for their trust and confidence. Our strategy and investment plan are clear, and our strategic roadmap and priorities remain unchanged; delivering value for our clients and shareholders. Temenos has a strong set of values built on collaboration, empowerment and trust. I look forward to working with our Executive Committee and across the business, to further strengthen our people-first culture and drive our future growth.”     Featured image: Edited by Fintech News Singapore, based on image by brilian via Freepik The post Temenos Confirms Takis Spiliopoulos as CEO Following Interim Role appeared first on Fintech Singapore.

bolttech has acquired Kenya-based digital insurance platform mTek, strengthening its presence in East Africa and expanding its global embedded insurance capabilities. Founded in 2019, mTek offers a digital platform that lets customers in Kenya compare, purchase and manage insurance online. The company works with GA Insurance, Sanlam and Britam, and in September announced a collaboration with Mastercard to introduce embedded insurance solutions across East Africa. Its platform is designed to improve access to insurance through simple, transparent and paperless experiences. bolttech said it will integrate mTek’s technology and local market expertise into its global insurance and protection ecosystem. The acquisition supports bolttech’s strategy to grow its footprint in East Africa and enhance its embedded insurance capabilities worldwide. mTek’s leadership team, led by chief executive Bente Krogmann, will continue to oversee operations in East Africa to provide stability for customers, partners and employees during the transition. The company will adopt bolttech branding at a later stage. bolttech and mTek said they will work together to ensure continuity for employees, customers and partners throughout the integration. Stephan Tan Stephan Tan, Chief Executive Officer, EMEA, bolttech said, “This represents an exciting step forward for bolttech as we expand our footprint in Africa. mTek’s innovative platform and talented team share our vision of using technology to make protection more accessible. Together, we can accelerate digital transformation in insurance and extend the reach of embedded protection across the region.” Bente Krogmann Bente Krogmann, Chief Executive Officer, mTek, said, “Joining the bolttech family marks an exciting next chapter for mTek. Our technology, local insight, and commitment to inclusive insurance have transformed how customers access protection in Kenya, and this partnership allows us to scale that impact even further – bringing more innovative and relevant insurance solutions to customers at scale.”     Featured image: Edited by Fintech News Singapore, based on image by tsyhun via Freepik   The post bolttech Acquires Kenya’s mTek as It Expands Footprint in East Africa appeared first on Fintech Singapore.

Binance has named co-founder Yi He as co-CEO alongside Richard Teng, marking a shift to joint leadership as the exchange enters its next phase of global growth. The appointment was announced in a company blog post and follows Teng’s comments at Binance Blockchain Week, where he described the move as a natural progression given Yi’s influence since the firm’s launch. Teng said Yi has been central to Binance’s strategy, product development and community expansion. He added that her new role strengthens the leadership team as the company scales and works through regulatory requirements across markets. Yi said she looks forward to partnering more closely with Teng, noting the value of their different experiences. Teng comes from decades in regulated financial markets, while Yi has helped shape Binance’s culture and user-focused approach. Binance said the co-CEO structure supports its goal of responsible global expansion, stronger compliance and continued work in Web3.0 development. The company added that both leaders will guide long-term strategy with an emphasis on user trust and product innovation. Richard Teng Teng said in a LinkedIn post, “As we move forward, Yi and I are fully aligned in our mission to strengthen Binance as a trusted and responsible global platform. Our focus remains clear: deepen our regulatory foundations, advance innovation, and ensure that users remain at the center of everything we do. Together, we will continue building a more resilient, transparent, and long-term ecosystem for digital assets, an ecosystem that empowers people everywhere to participate in the future of finance.”     Featured image: Edited by Fintech News Singapore, based on image by Frolopiaton Palm via Freepik   The post Binance Names Co-founder Yi He as Co-CEO appeared first on Fintech Singapore.

Senior UBS banker Sarah Tsao is poised to join DBS Group in a government-linked corporations coverage role, according to individuals with knowledge of the planned hire. Bloomberg reported that Tsao is expected to oversee DBS’ relationships with key state investment institutions, including Temasek Holdings, GIC and their portfolio companies. She is slated to begin in early 2026, the sources said, noting that details of the move remain confidential. DBS said it has agreed to bring Tsao on board. UBS did not respond to queries about her departure. The transition comes shortly after Tsao was promoted to head of global banking for Singapore at UBS in April. Public information shows she had earlier led corporate finance for Southeast Asia within UBS’ investment banking division, a role she has held since 2016. Her background also includes positions at Temasek, Goldman Sachs and ANZ. The hire fits into DBS’ expansion of its institutional and wealth management units. It comes at a time when Temasek is preparing to reshape its portfolio into three subsidiaries next year.     Featured image: Edited by Fintech News Singapore, based on image by DBS The post DBS Reportedly Poised to Hire UBS’ Sarah Tsao as to Bolster GLC Coverage appeared first on Fintech Singapore.

Singapore’s GXS, the Grab and Singtel backed digital bank venture, is preparing to lay off staff as part of a shift in its operating model. Information reported by The Business Times indicates that the group is reducing 82 positions across its operations in Singapore, Malaysia and India, representing about 10 percent of its workforce. The restructuring comes after GXS posted higher net interest income of S$30.2 million for the 2024 financial year, up from S$14.9 million the year before. Losses, however, widened slightly to S$214.3 million from S$208.2 million. The decision follows a strategic review of the bank’s organisational structure as it moves from its early build stage into a period focused on steady-state operations. Management concluded that the roles required to run a full banking business differ from those needed when the bank was being established. According to an internal communication from group chief executive Lai Pei-Si, the streamlining reflects this transition in operational priorities. As part of the review, GXS examined functions across GXS Bank in Singapore, GXBank in Malaysia and its technology centre in India to determine which roles remain essential for the next phase of growth. Lai said the bank had tried to reshape its structure through natural attrition and by hiring only for positions considered necessary in the coming years, but the pace of organic adjustments was slower than needed. The Business Times also reported that the roles identified for removal were based on organisational needs rather than individual performance. Employees affected by the review will receive support measures such as extended medical coverage, career transition assistance, counselling and severance packages that align with market norms. The workforce changes come as GXS continues to scale its banking operations following the rollout of services in Singapore and Malaysia.     Featured image: Edited by Fintech News Singapore, based on image by Freepik The post Digibank Group GXS to Lay Off 10% of Staff Across Singapore, Malaysia and India appeared first on Fintech Singapore.

Payments firm Nuvei and Microsoft have announced a major expansion of their strategic partnership, moving Nuvei’s core payment processing APIs onto Microsoft Azure. The deployment expands Nuvei’s global processing capabilities beyond the 10,000 transactions per second the platform already supports and targets 99.999 percent availability for enterprise merchants worldwide. The migration establishes an AI-driven foundation designed to support more than US$1 trillion in annual payment volume as businesses scale internationally. It reflects a multi-year effort to move all Nuvei platforms to the cloud to strengthen real-time performance, improve efficiency and deliver always-on availability. As part of this modernisation, Nuvei has refreshed key infrastructure components and reduced reliance on third-party technologies, creating more room for continuous innovation. Running core services on Azure improves elasticity, speed and global reliability. The distributed architecture absorbs peak transaction volumes, maintains continuous uptime and enhances latency and authorisation outcomes across regions. Nuvei said ongoing updates will focus on global performance, onboarding efficiency and Azure AI-driven transaction optimisation, with improvements compounding as the platform processes more transactions. The company is using Azure ExpressRoute for private connectivity, Azure Firewall for network protection and Azure Kubernetes Service for containerised workloads. Security and compliance are strengthened through Azure Defender for Cloud and Azure Application Gateway with Web Application Firewall. The system spans four Azure regions in UK South, Sweden Central, US West and US East to ensure high availability and consistent performance. Philip Fayer “Every payment should succeed with speed and accuracy, every time, wherever our customers operate. Running our core processing on Microsoft Azure gives us an AI-native foundation that adapts in real time, optimises transactions globally, and meets regional data-residency requirements. It strengthens performance today and enables us to deliver new AI-driven capabilities as our clients scale.” said Phil Fayer, Chair and CEO, Nuvei. Tyler Pichach “Microsoft Azure’s AI-ready infrastructure complements Nuvei’s enterprise payments expertise. This step positions Nuvei to deliver the resilient, responsive, and optimised payment experiences required for the future of global commerce.” said Tyler Pichach, Global Head of Payments Strategy, Microsoft.     Featured image: Edited by Fintech News Singapore, based on image by mkmult via Freepik   The post Nuvei Shifts Core Payment Platform to Microsoft Azure appeared first on Fintech Singapore.

Apple has rolled out Tap to Pay on iPhone in Singapore, allowing thousands of businesses to accept in-person contactless payments using only an iPhone. The feature is already available through partner-enabled iOS apps and works on iPhone Xs or later running the latest iOS version. Merchants can take payments from contactless credit and debit cards, Apple Pay and other digital wallets without additional hardware. Customers hold their card or device near the merchant’s iPhone to complete the transaction using NFC technology. This setup allows businesses to process payments wherever they operate. The first payment platforms supporting the feature in Singapore include Adyen, Fiuu, HitPay, Revolut, Stripe and Zoho. Grab will add support early next year. The feature works with major card networks in Singapore, including American Express, JCB, Mastercard, UnionPay and Visa. Apple said the system processes transactions through the Secure Element and does not store card numbers or transaction details on devices or Apple servers. The company added that payment data for Store and Forward transactions may be stored temporarily on the device in encrypted form. Apple also noted that some contactless cards may not be accepted and that transaction limits may apply.     Featured image: Edited by Fintech News Singapore, based on image by Apple Developer  The post Apple iPhones Can Now Function as Payment Terminals for Singapore Merchants appeared first on Fintech Singapore.

UnionPay International (UPI) and the National Payment Corporation of Vietnam (NAPAS) have launched a pilot programme for cross-border QR payments between China and Vietnam. The initiative aims to improve mobile payment options for Chinese visitors in Vietnam and strengthen links between the two countries. The pilot builds on earlier agreements. In October 2024, UPI and NAPAS signed a Memorandum of Understanding on cross-border payment cooperation. Leaders from both governments witnessed the signing. In April 2025, UPI, NAPAS, the Industrial and Commercial Bank of China (ICBC), and Vietcombank signed a four-party agreement in Hanoi. The deal confirmed their plan to introduce QR payment interconnection within the year. Chinese tourists can now scan VietQR Global QR codes at participating merchants using the UnionPay App or partner bank apps. This allows cashless payments in major shopping areas, tourist sites, restaurants, and other outlets. Participating institutions expect more than 30,000 merchants to accept QR payments by the end of 2025. In 2026, NAPAS plans to expand the programme to all member institutions, including banks, payment companies, and major local e-wallets. This will widen acceptance across the country. UPI and NAPAS also intend to enable Vietnamese users to scan UnionPay QR codes in China through NAPAS member bank apps. This will create two-way QR compatibility for travellers and residents. Larry Wang, CEO of UnionPay International, said: Larry Wang “Vietnam is an important destination for Chinese tourists and a key market for Chinese enterprises’ international business. As economic and cultural exchanges between the two countries deepen, the China-Vietnam QR code interconnection will enhance payment convenience and boost regional financial cooperation.”     Featured image credit: Edited by Fintech News Singapore, based on image by freepik, maksin_priestess and maksin_priestess via Freepik The post China and Vietnam Begin Cross-Border QR Payment Pilot appeared first on Fintech Singapore.

From navigating ‘irrational’ market incentives to achieving operational profitability, DANA CEO Vince Iswara breaks down the contrarian strategies behind scaling Indonesia’s leading digital wallet to 200 million users. He reveals the critical pivot from high-burn growth to sustainable unit economics and why maintaining an ‘underdog’ mindset was essential for survival. The post How a Second Chance Led to Indonesia’s Largest E-Wallet | Vince Iswara, Co-Founder, DANA appeared first on Fintech Singapore.

RedotPay has partnered with Ripple to expand its stablecoin payment capabilities. Concurrently, RedotPay is launching its “Send Crypto, Receive NGN” feature and extending multi-market payouts via Ripple’s cross-border payment solution, Ripple Payments. The new feature allows verified users with local bank accounts to convert digital assets into Nigerian naira (NGN), providing faster and lower-cost payouts. Michael Gao “Delivering near‑instant, cost-effective NGN payouts is a significant milestone,” said Michael Gao, CEO and Co‑Founder of RedotPay. “RedotPay is building stablecoin-powered payments that make digital assets as easy to use as local currency, where users can send XRP or stablecoins securely and receive NGN within minutes. The integration of Ripple Payments will expand RedotPay’s global reach and better serve the evolving needs of our users, we will remain focused on making digital finance accessible, secure, and efficient for everyone.” Global remittances remain slow and expensive, with average fees of 6.49% and settlement times often taking one to five business days. Demand for digital alternatives has increased, particularly in the Asia Pacific region, which has seen the fastest growth in on-chain stablecoin activity, driven mainly by trading and remittances. RedotPay’s integration with Ripple Payments addresses these issues, offering enterprise-grade blockchain speed, reliable payout infrastructure, transparent pricing, and near-instant settlement. The feature supports a wide range of cryptocurrencies including USDC, USDT, BTC, ETH, SOL, TON, S, TRX, XRP, and BNB, with Ripple’s RLUSD to be supported in the future. Jack Cullinane, Head of Commercial, Asia Pacific at Ripple, said, Jack Cullinane “Our partnership with RedotPay demonstrates the real-world utility of our licensed payments solution in solving the immense friction of global cross-border payments. Ripple Payments makes sending money across borders faster, more reliable and affordable for consumers and businesses alike.”     Featured image credit: Edited by Fintech News Singapore, based on image by Frolopiaton Palm via Freepik This article first appeared on Fintech News Hong Kong The post RedotPay Partners with Ripple to Launch NGN Crypto Payouts appeared first on Fintech Singapore.