Vietnam’s Ministry of Public Security said authorities had launched a large-scale investigation into alleged cryptocurrency fraud across Hanoi, Ho Chi Minh City, Can Tho, Da Nang, and Dak Lak. Following directives from the ministry, the Economic Security Department, in coordination with the Investigation Security Department and local police forces, conducted coordinated searches over two days in March, summoning more than 140 individuals. According to the statement, they confiscated computers, mobile devices, documents, and other evidence linked to the alleged offences, “successfully dismantling” a network that reportedly embezzled billions of US dollars from investors in the ONUS ecosystem. On 23 March 2026, the Investigation Security Agency initiated criminal proceedings for “using computer networks, telecommunications, or electronic means to commit asset misappropriation” and “money laundering,” covering activities from 2018 to the present. Authorities temporarily detained Vuong Le Vinh Nhan, General Director of Digital Asset Management JSC; Tran Quang Chien, technical administrator of the ONUS cryptocurrency exchange; Ngo Thi Thao, Director of HANAGOLD Jewelry JSC; and five others. One additional individual faces charges of money laundering, though their identity remains undisclosed. The Supreme People’s Procuracy approved all prosecution and detention decisions. Investigators allege the suspects created tokens including VNDC, ONUS and HNG, promoted them using false information, and used artificial trading activity to manipulate prices and misappropriate investor funds. Authorities also blocked attempts to destroy evidence or disperse assets. ONUS, formerly known as VNDC Wallet, launched in 2020 and has been widely marketed to Vietnamese users, though reports have described it as Singapore-headquartered. The platform had previously said it had more than 7 million users globally by end-2025, with VNDC positioned as a stablecoin pegged to the Vietnamese dong.   Featured image credit: Edited by Fintech News Singapore, based on image by ganzevayna1 and pvproductions via Freepik The post Vietnam Police Detain ONUS-Linked Suspects in Multi-Billion Dollar Crypto Fraud Probe appeared first on Fintech Singapore.

Visa has launched Enhanced Subscription Manager, a new service that lets issuers help customers manage recurring payments through their mobile apps. Part of Visa’s Digital Issuer Solutions platform, the service allows cardholders to view subscriptions, get alerts, and receive insights through their banking app. It also allows them switch eligible subscriptions paid with any card to a Visa card and cancel certain subscriptions without leaving the app. Visa said the launch comes as subscription use continues to grow, with the total projected to reach 12 billion by 2030 and consumers seeking clearer ways to track recurring charges. The company is working with Pinwheel, a fintech firm that provides in-app bill management and switching tools, to expand those features. Through the integration, issuers will be able to offer card switching and subscription cancellation across more than 100 major merchants, with cancellation available for select merchants and guided workflows offered for others. Visa said the service could help issuers reduce disputes and chargebacks linked to recurring payments while improving customer engagement and retention. Kathleen Pierce-Gilmore Kathleen Pierce-Gilmore, Global Head of Issuing Solutions at Visa, said, “Consumers today want clarity, control, and convenience when it comes to managing the subscriptions that touch so many parts of their lives. By enhancing subscription management capabilities with Digital Issuer Solutions, and expanding through strategic collaborations with companies like Pinwheel, we’re helping issuers deliver digital experiences that keep them top‑of‑wallet.” Enhanced Subscription Manager will be available to North American issuers in summer 2026, followed by expansion to Latin America and the Caribbean. Further updates to its subscription-related offerings are planned throughout 2026.   The post Visa Offers In-App Subscription Management Tool for Card Issuers appeared first on Fintech Singapore.

Sumsub has partnered with ComplyAdvantage to strengthen anti-money laundering screening across its compliance platform. The partnership brings ComplyAdvantage’s Mesh risk intelligence technology into Sumsub’s AML screening tools across Know Your Customer, Know Your Business and transaction monitoring. It is aimed at helping compliance teams manage sanctions checks, politically exposed person screenings and watchlist monitoring more accurately within one system. Sumsub said the integration is designed to improve screening accuracy and give compliance teams more flexibility to tailor workflows based on their risk appetite and regulatory requirements. The company is also introducing a Bring Your Own Key option, allowing customers to connect their own ComplyAdvantage Mesh API credentials directly to the platform. For ComplyAdvantage, the partnership gives existing Mesh customers access to Sumsub’s review tools and case management while continuing to use Mesh as their screening intelligence source. Andrew Novoselsky “Compliance teams don’t need more tools—they need one powerful system that does it all. With ComplyAdvantage Mesh fully embedded into our platform, we’re not just enhancing AML screening—we’re redefining how compliance operates. Sumsub brings together verification, screening, monitoring, and intelligent decisioning into a single environment, giving teams complete control, real-time intelligence, and the ability to scale with confidence in an increasingly complex regulatory landscape.” said Andrew Novoselsky, Chief Product Officer at Sumsub. Featured image: Edited by Fintech News Singapore, based on image by MH Stock via Freepik The post Sumsub Taps ComplyAdvantage to Expand AML Screening Capabilities appeared first on Fintech Singapore.

Mastercard is considering a sale of the account-to-account payments business it picked up from Nets in 2019, the Financial Times reported. The company declined to comment. A sale would put Mastercard’s largest acquisition to date back in play, after the company bought the business for about US$3.2 billion as part of its push beyond traditional card payments. According to the report, Mastercard has appointed bankers to explore a sale of the unit, which could draw interest from private equity firms. People familiar with the matter told the Financial Times that the company is unlikely to recover the price it originally paid. The business, which supports real-time payments between bank accounts in Europe, is said to generate about US$370 million in annual revenue and roughly US$100 million in EBITDA. Mastercard bought the asset from Denmark’s Nets Group in 2019 to expand its presence in account-to-account payments and broaden its offering beyond its core card business. The reported sale comes shortly after Mastercard announced a deal to acquire stablecoin infrastructure provider BVNK for up to US$1.8 billion, as it continues to expand into newer areas of payments infrastructure. Nets itself was acquired by Italian payments group Nexi in 2020 in a deal valued at €7.2 billion, helping create one of Europe’s largest payments operators.     Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik The post Mastercard Weighs Sale of Nets Payments Unit Acquired in US$3.2 Billion Deal appeared first on Fintech Singapore.

Xero is teaming up with Anthropic in a multi-year deal that will enable small businesses to use Claude for financial analysis and workflow tasks. The partnership will bring Claude into Xero’s platform while also making Xero’s financial data and tools available through Claude.ai. This is intended to help small businesses and their accounting and bookkeeping advisors get real-time insights and act on them more easily. Within Xero, Claude will support automation across accounting, payroll and payments. Customers will also be able to use Xero financial data and insights in Claude.ai for analysis and planning, including scenario testing and follow-up actions. Any financial information shared between the two services will only be used for the user’s specific session and will not be used to train Anthropic’s AI models. As part of the agreement, Xero’s engineering teams will also use Claude Code and Cowork to support product development. Claude-powered insights in Xero and the Claude.ai integration are expected to become available in the coming months. Diya Jolly Diya Jolly, Chief Product & Technology Officer, Xero said, “Small businesses and advisors don’t just need data; they need a digital partner that acts on it. Integrating Claude moves Xero into agentic workflows, where Xero’s AI superagent, JAX (Just Ask Xero), does the heavy lifting, from predicting cash flow gaps to executing complex financial tasks. Crucially, this trusted intelligence isn’t locked into one platform; it follows the user securely wherever they choose to work, empowering advisor collaboration. By shifting the admin burden to a team of agents orchestrated by JAX, we’re giving our customers time back and providing them with clarity so they can make informed decisions and focus on the future.” Chris Ciauri Chris Ciauri, Managing Director of International, Anthropic, said, “Claude brings a reasoning layer to that foundation. Now, instead of spending hours trying to make sense of their financials on top of everything else it takes to run a business, customers get clear answers and recommended actions in real time. This provides small businesses and their advisors with the kind of financial intelligence that used to require a dedicated analyst or CFO.”     Featured image: Edited by Fintech News Singapore, based on image by user4894991 via Freepik   The post Xero Users to Get Access to Claude for Real-Time Financial Analysis, Planning appeared first on Fintech Singapore.

Revolut plans to take its India workforce to 5,500 by the end of 2026 under a five-year £500 million investment plan, Reuters reported. The expansion will add 1,600 roles across product development, support and financial services functions such as payment processing and fraud investigations. The move will deepen Revolut’s global capability centre in India, which is separate from its local consumer business. India already handles about a third of Revolut’s processes, including transaction monitoring and AI-led alert systems. The company has also used tools developed there, such as video KYC capabilities, to improve onboarding in other markets. Revolut currently employs about 12,000 people worldwide, meaning India is set to make up a much larger share of its global workforce by the end of next year. The company said group revenue rose 46% to US$6.0 billion in 2025 from US$4.0 billion a year earlier, while its Singapore operation remained net profitable for a second straight year in 2025. Revolut’s local unit holds a Reserve Bank of India licence to issue prepaid payment instruments and already has permissions to offer certain foreign exchange services. The company is targeting a product launch next quarter and has said it aims to reach 20 million customers in India by 2030. Founded in 2015, Revolut was valued at US$75 billion. The £500 million India commitment also sits within a wider US$13 billion, five-year global investment plan announced by the company last year.     Featured image: Edited by Fintech News Singapore, based on image by mabrouksamira25 via Freepik   The post Revolut Targets 5,500 India Staff by End-2026 Under £500 Million Investment appeared first on Fintech Singapore.

Tazapay has raised a Series B extension led by Circle Ventures, taking its total funding for the round to US$36 million. New investors in the extension include CMT Digital and Coinbase Ventures. Circle Ventures, Peak XV Partners, GMO Venture Partners, and January Capital also participated in the extension. Existing backers of Tazapay include Ripple, Norinchukin Capital, ARC180, and RTP Global. The fresh funding will support licensing expansion, commercial growth across Asia, Latin America, the Middle East, and the Americas, as well as the development of infrastructure for AI-driven payment use cases. Kanupriya Sharda Kanupriya Sharda, Chief Business Officer at Tazapay, said, “The demand we’re seeing from enterprises and fintechs across Asia, LATAM, and the Middle East is unmistakable; businesses want to move money faster, cheaper, and with full regulatory confidence. Tazapay’s infrastructure was built precisely for this moment. With Circle Ventures’ backing and the addition of CMT Digital and Coinbase Ventures, we now have the fuel to scale our go-to-market across the corridors where this matters most.” Tazapay provides cross-border payment infrastructure for businesses in emerging markets. Its platform supports faster and more capital-efficient settlement than traditional banking rails. The firm now serves more than 1,000 enterprises and fintechs across 30 countries and has doubled revenue for three consecutive years. Tazapay currently holds licences and registrations in Singapore, Canada, Australia, and the United States. It also has active licence applications underway in the UAE, the European Union, and Hong Kong. Brian Schultz Brian Schultz, Vice President at Circle Ventures, said, “Stablecoin adoption in cross-border commerce depends on regulated, operationally reliable infrastructure. Tazapay has built that capability across key emerging markets. Their licensing footprint and local market integration address an essential requirement for enterprise stablecoin-to-fiat settlement.”     Featured image: (From left) Aayush Singhania (CPO), Kanupriya Sharda (CBO), and Rahul Shinghal (CEO). The post Tazapay Raises US$36 Million in Series B Extension Led by Circle Ventures appeared first on Fintech Singapore.

Visa will join the Canton Network as a Super Validator, becoming the first payments firm to take on the role. The company said it will be one of 40 Super Validators on the blockchain network, which is built for regulated finance and designed to keep sensitive data private. Visa said it will help support operations on Canton Network as banks and financial institutions explore onchain payment flows, including stablecoin payments, settlement and treasury use cases. The move addresses a key hurdle for financial institutions using blockchain. While transparency is one of blockchain’s core features, it can also raise privacy concerns for institutions operating under strict compliance and risk rules. Rubail Birwadker Rubail Birwadker, Global Head of Growth Products and Strategic Partnerships at Visa, said, “Many banks see the lack of privacy as a dealbreaker for moving meaningful activity onchain. By operating as a Super Validator on Canton Network, we’re bringing Visa-grade trust, governance and operational rigor that define Visa’s global network to privacy‑preserving blockchain infrastructure, so regulated FIs can bring payments onchain without having to rethink how they operate.” Canton Network has mainly been used in capital markets, including for the issuance and trading of tokenised assets. With Visa joining, the network is looking to expand further into payments and connect those use cases more directly with its broader financial ecosystem. The move builds on Visa’s broader stablecoin push, which includes settlement, card-linked programmes and advisory work for financial institutions and fintechs.     Featured image: Edited by Fintech News Singapore, based on image by Visa The post Visa Joins Canton Network to Support Onchain Payment Flows appeared first on Fintech Singapore.

Trip.com is working with Checkout.com to improve payments for travelers booking across its global platform. The partnership will see Trip.com roll out digital card payment services through Checkout.com in markets including the UK, Japan and Saudi Arabia, with further expansion planned in North America, Europe, Australia and New Zealand. Trip.com offers hotel bookings, flights, trains, car rentals and attractions, and operates in 24 languages across 39 countries and regions. The two companies are also exploring additional local payment methods beyond online card payments, including e-wallets and bank transfers, to support customers in different markets. Trip.com has adopted Checkout.com’s standalone 3D Secure authentication service and is also exploring tools for card storage, identity verification and issuing as it expands its payments setup. Brian Sze Brian Sze, President of Checkout.com Asia Pacific, said, “As one of the fastest-growing travel platforms globally, Trip.com is at the forefront of digital travel, and we’re proud to support its global expansion with the payment infrastructure needed to thrive in today’s digital economy. Our collaboration goes beyond processing transactions – it’s about co-creating a payment strategy that drives performance, reduces friction, and supports the growth of the tourism industry through digital innovation.” Wang Zhe Wang Zhe, Vice President of Trip.com Group, said, “ Checkout.com’s global acquiring capabilities and modular technology give us the flexibility to tailor our payment strategy by market – improving success rates, reducing costs, and ultimately delivering a better experience for our customers. This partnership strengthens our ability to innovate at speed and scale as we connect travelers with the world around them.”     Featured image: Edited by Fintech News Singapore, based on image by Wavebreak Media via Freepik The post Trip.com Taps Checkout.com to Ease Travel Payments appeared first on Fintech Singapore.

Airwallex has appointed former New Zealand Prime Minister and Finance Minister Sir Bill English as Chair of its New Zealand board. Sir Bill joins as an independent director, bringing extensive experience in public finance, economic policy and international trade. His appointment comes as global payments and financial services grow in importance for New Zealand’s export-led economy, and as more businesses adopt digital platforms to operate internationally. Airwallex provides financial infrastructure to a range of high-growth New Zealand companies, including Halter, Partly and Tracksuit. It also supports international businesses operating in New Zealand, such as Afterpay and Bolt. Since entering New Zealand in 2023, nearly 20% of the country’s digital and tech sector relies on the platform. Airwallex has enabled over 1,000 Kiwi startups and modern businesses to operate internationally. The platform now facilitates approximately NZ$2.4 billion in annual payment flows, representing 240% year-on-year growth. It allows businesses to open local bank accounts in over 20 countries. Companies can also manage foreign currencies, pay suppliers and employees abroad, and collect revenue in 70 markets worldwide. Airwallex is also embedding AI into payments, treasury and spend management, enabling businesses to automate routine operations, optimise cash flow decisions and gain real-time insights into their global performance. Sir Bill said he was drawn to Airwallex’s role in supporting New Zealand’s high-growth exporting and technology firms. Sir Bill English “I’m looking forward to supporting a business that is helping New Zealand companies participate more effectively in the global economy, and contributing to the long-term direction of Airwallex in New Zealand as it continues to grow,” he said.     Featured image credit: Edited by Fintech News Singapore, based on image by mrsiraphol via Freepik This article first appeared on Fintech News Australia The post Former New Zealand Prime Minister Sir Bill English Joins Airwallex as Board Chair appeared first on Fintech Singapore.

DV8 Public Company plans to fully acquire Rakkar Digital and inject up to THB100 million (about US$3.05 million) into the Thai digital asset custody provider. The listed company has signed a share sale and purchase agreement to buy Rakkar’s ordinary shares from its existing shareholders, according to a filing with the Stock Exchange of Thailand. The deal remains subject to regulatory approvals and other conditions under the agreement. Rakkar is a digital asset custodial wallet service provider authorised by Thailand’s Minister of Finance under the supervision of the Securities and Exchange Commission. The firm was founded by Arthit Sriumporn, who now serves as EVP for Digital Channels at Siam Commercial Bank. The planned capital injection will support its operations and help it meet regulatory net capital requirements for digital asset business operators. The company said the transaction does not meet the threshold for a material asset acquisition under Thai capital market rules and that Rakkar and its existing shareholders are not connected persons under the relevant connected transaction rules. DV8 added that SEC approval will still be required for it to become a major shareholder in Rakkar. After the deal closes, DV8 will appoint three directors to Rakkar’s board, namely Jason Kin Hoi Fang, Theng Wei Tan and Kittiwut Horthong following SEC’s approval. DV8 will fund the investment through internal working capital.     Featured image: Edited by Fintech News Singapore, based on image by yogiermansyah22 via Freepik The post DV8 to Acquire Rakkar Digital, Plans Up to US$3 Million Capital Injection appeared first on Fintech Singapore.

iPiD has struck two deals in Korea, bringing its payee verification tools to DOZN’s clients and Hana Bank’s cross-border payment operations. DOZN, a Korean digital commerce and payments platform, will resell iPiD Validate to financial institutions, payment service providers and corporates in Korea. The real-time payee verification service allows users to check account details before a payment is made through features such as name matching, account confirmation and pre-payment validation. The partnership comes as Korean payment providers and businesses handle more cross-border transactions and face pressure to reduce fraud, prevent misdirected payments and improve efficiency. Damien Dugauquier “Korea is one of the world’s most dynamic digital economies. Our partnership with DOZN brings trusted, accurate payee verification to a market that is scaling rapidly across borders. Together, we’re helping Korean institutions strengthen trust in every transaction,” said Damien Dugauquier, Co-Founder & CEO of iPiD. Meanwhile, Hana Bank has deployed iPiD Node to support payee verification under the UK’s Confirmation of Payee framework and Europe’s Verification of Payee requirements. Through a single integration, the bank can confirm whether a beneficiary’s name matches the account details before funds are sent across UK and European payment corridors. The setup is intended to reduce payment errors and lower the risk of authorised push payment fraud without adding operational complexity. Hana Bank said the service will support cross-border payments by businesses and individuals, including overseas transfers for expenses such as tuition and rent.     Featured image: Edited by Fintech News Singapore, based on image by mrsiraphol via Freepik   The post iPiD Expands Korea Footprint Through DOZN and Hana Bank Partnerships appeared first on Fintech Singapore.

DBS and Bank of China (BOC) have announced plans to strengthen their long-standing partnership, focusing on financial innovation to support trade and investment across the region. Key areas of cooperation include fintech development, regional connectivity, cross-border RMB solutions, third-party market expansion, and sustainable finance. The banks will leverage their respective strengths to deepen strategic cooperation in China and regional overseas markets, including Singapore, Indonesia, and Vietnam. Initiatives aim to facilitate cross-border trade, support Chinese companies expanding abroad, and enable global enterprises and long-term investors to access the Chinese market. Tan Su Shan, CEO of DBS Group, said: Tan Su Shan “Economic and trade cooperation between China, Singapore and the region has continuously deepened, demonstrating resilience and structural growth. BOC is a long-term valued partner of DBS. Building on that foundation, this MOU symbolises our renewed commitment to support global growth, drive regional development and create more impactful collaboration.” Ge Haijiao, Chairman of BOC, added: Ge Haijiao “Looking ahead to the 15th Five-Year Plan period, we will continue to explore broader cooperation, enabling the international use of RMB, advancing financial innovation and green finance, and supporting intra-regional collaboration to deliver results for our stakeholders.”       Featured image credit: Edited by Fintech News Singapore, based on image by K8 via Unsplash This article first appeared on Fintech News Hong Kong The post DBS and Bank of China to Deepen Cooperation on RMB, Trade, and Regional Finance appeared first on Fintech Singapore.

Triple-A has joined Circle Payments Network to support stablecoin-based cross-border settlements in local currencies. Operated by Circle Technology Services, the network connects banks, payment service providers, virtual asset providers and enterprises to enable near real-time payments using stablecoins. With the integration, Triple-A joins the network as a Beneficiary Financial Institution. The company said this will support use cases such as remittances, payroll, supplier payments and global treasury management. Eric Barbier Eric Barbier, CEO of Triple-A, said, “Through Circle Payments Network, we enable last-mile settlement in USDC on the backend and deliver in local currency through domestic payment systems. This allows businesses to benefit from stablecoin infrastructure without needing to directly handle digital assets.” Irfan Ganchi Irfan Ganchi, SVP of Product Management, Payments at Circle, said, “Triple-A’s integration with Circle Payments Network expands stablecoin-to-fiat settlement capabilities across major financial markets. As a Beneficiary Financial Institution on CPN, Triple-A supports local currency payouts through established domestic rails, helping institutions streamline cross-border payment operations.”     Featured image: Edited by Fintech News Singapore, based on image by Triple-A   The post Triple-A Taps Circle for Cross-Border Stablecoin Settlement appeared first on Fintech Singapore.

Discussions about the future of banking often revolve around digital channels, cloud migration and mobile apps. At Mobile World Congress 2026 in Barcelona, Huawei placed the spotlight on what comes next. During its Digital Finance session, the company gathered financial institutions and technology partners to discuss how artificial intelligence is beginning to reshape the foundations of modern banking. The event carried the theme “Powering Resilient Intelligence, Co-creating Finance Future” and served as the backdrop for Huawei to introduce upgrades to its Banking AI and Foundation Model Solutions aimed at supporting the next phase of industry transformation. Attention quickly turned to the keynote delivered by Alvin Feng, President of International Financial Business at Huawei’s Digital Finance division. His presentation explored the growing role of AI in banking operations and why many financial institutions are now rethinking how technology fits into their long-term strategy. According to Alvin, the industry has spent the past two decades focused on digital optimisation. Online banking and mobile services changed how customers interact with financial institutions while data platforms helped banks improve operational efficiency. Artificial intelligence now opens the door to a deeper transformation, one that is beginning to influence how banks operate at every level. “AI is becoming the defining force reshaping the global financial industry,” Alvin said during his speech, noting that intelligence is starting to influence everything from customer engagement to risk management and internal decision making. Banking Begins Another Technology Transition Banks have moved through several waves of technological change. Early systems focused on automating back office processes and digitising records. Internet banking expanded customer access. Mobile technology later made financial services available almost anywhere. Another transition is beginning to take shape. Growing adoption of artificial intelligence is pushing banks to reconsider how services are delivered and how internal workflows operate. Customer interaction already offers a clear example. Instead of navigating menus and structured forms, users increasingly interact through conversational interfaces where systems interpret requests expressed in everyday language. Personalisation also begins to operate at a different scale. In the past, tailored financial advice often remained limited to high value customers. AI systems now analyse patterns across large datasets which allows banks to deliver personalised insights and recommendations to far wider segments of their customer base. Inside financial institutions, work patterns are also changing. Many teams already rely on automated tools for data analysis and reporting. AI agents add another layer by assisting staff in tasks such as reviewing applications, analysing documents or identifying unusual transaction activity. Alvin described the shift as one that extends across several dimensions of banking operations including customer engagement, decision making processes and the technology architecture supporting financial services. As he put it: “The transition from traditional banks to AI-driven banks brings profound changes in customer interactions, human-machine collaboration, decision-making approaches, system architecture, and customer experience.” Linking Business Strategy With Technology Execution A recurring theme throughout the session centred on how technology is gradually moving closer to the heart of business strategy. For a long time, banks viewed technology primarily as infrastructure that enabled services or reduced operational costs. Increasing reliance on artificial intelligence has started to change that perspective, prompting a reassessment of how technology contributes to growth and competitiveness. Alvin explained that many financial institutions now recognise the need for a clearer connection between business goals and technology deployment. He said this while pointing to a gap that many institutions are still working to close. Building that link requires more than adding isolated AI projects. Drawing on its work with global banks, Huawei introduced a framework known as the Intelligent Finance Value Implementer. The model is intended to help financial institutions identify meaningful AI scenarios, design supporting enterprise architecture and deploy intelligent systems in ways that align with long term business priorities. Selecting the right use cases plays a central role in that process. Projects tied to customer experience, risk control and operational efficiency often deliver the most immediate impact. Once those foundations are in place, institutions can expand AI capabilities across additional services and departments. Underpinning this shift is a broader change in mindset. “Technology is no longer a support function. It is now a value center at the heart of the business,” Alvin mentioned. Where Banks Are Testing AI Todays Several real world examples shared during the event illustrated how these ideas are already being tested in banking environments. Document processing for credit card applications offers one illustration. Staff members traditionally review customer documents manually, a process that can take around twenty minutes per application. AI assisted systems now perform the initial review in roughly twenty seconds while maintaining optical character recognition accuracy above 95 percent. Conversational services provide another glimpse into how banking experiences may evolve. Natural language interfaces combined with specialised AI agents allow customers to interact with digital assistants that guide them through tasks such as checking balances, making deposits or exploring investment options. Over time, these systems build a more detailed understanding of user behaviour by analysing patterns in transactions and previous interactions. The result is a service experience that adapts to individual customers rather than offering the same responses to everyone. Small and medium enterprise lending represents another area where AI tools are beginning to appear. Loan applications in this segment often require coordination between multiple teams. Some banks are experimenting with systems that simulate these roles through separate AI agents that support relationship managers, operations teams and risk analysts during the evaluation process. Human oversight remains essential, yet intelligent tools help reduce the time required to gather information and prepare recommendations. Bringing these elements together requires more than isolated tools. As the President of Huawei Digital Finance International noted, the key to AI banking lies in using systems engineering to unify AI infrastructure with open ecosystems, reengineering banking processes through human and artificial intelligence collaboration. Preparing Banking Systems for AI Workloads Applications such as these depend on a strong technical foundation. Financial institutions operate under strict requirements for reliability, security and performance. Infrastructure must therefore support demanding AI workloads without compromising stability. Huawei used the Digital Finance session to introduce several upgrades designed for that purpose. Among the technologies highlighted were the SuperPoD computing platform, an AI data platform and the Xinghe AI network architecture. Together these systems aim to provide the computing capacity and connectivity required to support advanced financial applications powered by artificial intelligence. Engineering improvements were also discussed. Huawei reported that new optimisation techniques have shortened AI agent development cycles from months to weeks while improving prompt accuracy and reducing end to end processing latency. Such changes matter for large banks that must integrate new technologies with long established core systems. Scaling AI Innovation Through Industry Partnerships No single technology provider can address the complexity of financial services on its own. Huawei therefore emphasised the importance of collaboration through its RongHai partner program. The initiative brings together technology vendors, consulting firms and system integrators working on financial solutions across different markets. More than 150 solution partners now participate alongside over 11,000 consulting, sales and service partners worldwide. Joint development through this network allows banks to deploy solutions tailored to specific regulatory environments while benefiting from shared expertise across the ecosystem. Banks Face the Next Stage of Digital Change Huawei’s digital finance business now supports thousands of financial institutions across more than eighty countries. Over the years, the company has worked with banks on projects ranging from infrastructure modernisation to large scale data platforms. Conversations at the MWC session suggested that the industry may be approaching another turning point. Artificial intelligence continues to expand into areas that were once handled entirely by human teams. Institutions experimenting with these tools are beginning to uncover new ways of serving customers, managing risk and improving operational efficiency. Alvin closed his thoughts with a simple observation about what lies ahead for the sector. Featured image: Edited by Fintech News Malaysia based on an image by Austler via Freepik The post Alvin Feng Shares Huawei’s Vision for AI-Driven Banking at MWC 2026 appeared first on Fintech Singapore.

FOMO Pay is launching a new soundbox in Singapore that allows merchants to accept cards, PayNow, QR payments, e-wallets and stablecoins through one terminal. The FOMO AI Soundbox also provides real-time audio confirmation for each transaction and is designed to reduce the need for merchants to manage separate devices or integrations for different payment options. The Singapore-headquartered payment firm said the launch is part of a broader push to support both traditional payment rails and emerging on-chain payment methods in everyday commerce. FOMO Pay is also developing an AI-powered merchant intelligence layer linked to its merchant portal, which is intended to help merchants access insights from their transaction data more easily. The device includes a built-in microphone that could support future AI features, including tools that let merchants query business data in real time through the terminal. These planned features are aimed especially at small and mid-sized businesses that may not have the time or resources to analyse transaction data on their own. Louis Liu Louis Liu, Founder and CEO of FOMO Pay, said, “AI agents are increasingly becoming active participants in commerce, capable of researching options, making decisions, and completing purchases on behalf of the people they serve. This shift will change consumer behaviour more profoundly than anything we have seen since the advent of mobile payments, and the infrastructure that powers those transactions must evolve with them. At FOMO Pay, we are building the infrastructure that makes this possible, payment rails that are not just fast and connected, but intelligent enough to support a world where AI agents, businesses and consumers move as one.”     Featured image: Edited by Fintech News Singapore, based on image by FOMO Pay via YouTube The post FOMO Pay Launches Merchant Soundbox for Cards, PayNow and Stablecoins appeared first on Fintech Singapore.

Singlife has appointed Leo Mun Wai as an Independent Non-Executive Director to the boards of Singapore Life Holdings and Singapore Life. He will also serve on the company’s Risk and Audit Committees. Mun Wai has more than 30 years of experience in the financial sector, including over two decades in senior regulatory roles and about a decade in board positions. Before moving into board roles, he held senior positions at the Monetary Authority of Singapore and retired as Assistant Managing Director, where he was responsible for the regulation and supervision of Singapore’s capital markets. He also served as Executive Director of Banking Supervision, overseeing foreign banks operating in Singapore. His public service roles included serving as a founding board member of the Casino Regulatory Authority and as a member of the Securities Industry Council. Mun Wai has also served on the boards of Great Eastern Life Assurance Singapore and Great Eastern General Insurance. He currently sits on the board of CapitaLand Integrated Commercial Trust, where he is a member of its Risk and Audit Committees. Ray Ferguson Ray Ferguson, Board Chairman of Singlife, said, “His extensive experience in regulatory oversight and governance, coupled with his expertise in market conduct and digital transformation, will further strengthen the skillset of our board. His insights will be valuable as we continue delivering innovative financial solutions and building long-term trust with our customers.”     Featured image: Edited by Fintech News Singapore, based on image by topntp26 via Freepik   The post Singlife Appoints Former MAS Official Leo Mun Wai to Board appeared first on Fintech Singapore.

India and Bhutan are set to introduce a cross-border remittance service through their postal networks under the planned UPU-UPI initiative. UPI, or Unified Payments Interface, is India’s real-time payments system that allows money to be sent and received instantly. The service will link the Universal Postal Union’s PosTransfer system with UPI to support remittances between the two countries. The initiative was one of the key highlights of a visit by India’s Secretary of Posts to Bhutan during which both sides also signed a memorandum of understanding on postal cooperation. The agreement sets out a broader framework for collaboration between India Post and Bhutan Post in areas including postal operations, technology, logistics, training and knowledge exchange. Both sides said the remittance link is expected to improve financial connectivity and widen access to digital remittance services in both countries. India also said it is ready to share its experience in postal financial services, including how postal networks can support financial inclusion and expand access to savings and other basic financial services.     Featured image credit: Government of India The post India and Bhutan to Launch UPI-Linked Postal Remittance Service appeared first on Fintech Singapore.

Ripple has joined the Monetary Authority of Singapore’s BLOOM initiative and teamed up with Unloq to pilot a programmable trade settlement use case. The initiative, led by MAS, is aimed at extending settlement capabilities using tokenised bank liabilities and regulated stablecoins. The pilot is intended to showcase a model for Singapore’s future development of interoperable settlement infrastructure for cross-border trade. The project will use Unloq’s SC+ trade finance infrastructure, which combines trade obligations, settlement conditions and financing workflows in a single execution layer. It will also use Ripple’s infrastructure, the XRP Ledger and Ripple USD, or RLUSD. The pilot will test how digital settlement assets can be used to address inefficiencies in cross-border trade settlement. Under the model, payments are released only when pre-agreed commercial conditions are met, such as shipment verification. The companies said this could improve risk transparency and support access to financing for SMEs. Fiona Murray Fiona Murray, Managing Director, Asia Pacific at Ripple said, “Singapore continues to take a leading role globally in providing the regulatory clarity necessary for the digital asset space to thrive. Ripple is incredibly excited to be part of BLOOM, an initiative that perfectly aligns with our commitment to compliant, real-world utility for blockchain technology.” Letitia Chau Letitia Chau, President and Chief Risk Officer of Unloq said, “BLOOM represents an important step toward modernising trade finance infrastructure in a controlled and regulated environment. Through SC+, we are demonstrating how digital settlement rails can be integrated into existing trade and financing workflows without disrupting commercial relationships. Collaboration with MAS and Ripple enables us to explore scalable, interoperable models for cross-border trade.”     Featured image: Edited by Fintech News Singapore, based on image by MAS The post Ripple Joins MAS’ BLOOM Initiative for Trade Settlement Pilot appeared first on Fintech Singapore.

Grab will buy back up to US$400 million of its shares over the next four months under its existing repurchase plan. The repurchases will be carried out through two agreements. They include a US$250 million accelerated share repurchase deal with JPMorgan Chase Bank and a contingent forward purchase agreement with Morgan Stanley worth up to US$150 million. Both transactions fall under the US$500 million share repurchase programme approved by Grab’s board in February 2026. Once completed, Grab will have used US$400 million of that amount, leaving US$100 million for further buybacks. Peter Oey “We view the current share price dislocation as a clear opportunity to enhance shareholder value. Our trajectory toward our 2028 $1.5 billion Adjusted EBITDA and 80% Adjusted Free Cash Flow conversion targets also underscores the operational leverage we are now realizing. By leveraging our robust balance sheet and net cash liquidity position, we continue to maintain a disciplined approach to capital allocation by investing in our rapidly scaling ecosystem while being committed to returning excess cash to investors.” said Peter Oey, Chief Financial Officer of Grab. Under the accelerated share repurchase agreement, Grab will pay US$250 million to JPMorgan for an initial delivery of about 54.9 million Class A ordinary shares. This represents around 80 percent of the total shares that may be repurchased based on the last closing price of the shares. The final number of shares repurchased under the agreement will be based on the average volume-weighted average price of Grab’s Class A ordinary shares on specified dates during the term of the transaction. That figure will be subject to a customary discount and other adjustments under the agreement. Grab expects the transaction to be completed by the second quarter of 2026. Under the contingent forward purchase agreement, the number of shares Grab may acquire will depend on the company’s share price performance over the term of the deal, subject to the agreement’s pricing terms and thresholds. The total amount payable under the agreement will not exceed US$150 million, with settlement scheduled for July 2026. Grab said both transactions will be funded from existing cash reserves. As of 31 December 2025, the company had gross cash liquidity of US$7.4 billion and net cash liquidity of US$5.4 billion. The remaining US$100 million under the repurchase authorisation gives it flexibility for further buybacks.     Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik The post Grab to Buy Back Up to US$400 Million in Shares Over the Next Four Months appeared first on Fintech Singapore.