Fintech

Dutch and Polish Banks May be Blocking Fintech Services

Dutch and Polish Banks May be Blocking Fintech Services

Brussels, Belgium – The European Commission is carrying out an investigation on Dutch and Polish banking associations for allegedly blocking access of financial technology services to customer account data. Last Monday, representatives from both associations confirmed that they were targeted by dawn raids by the Commission, who said that it would focus on finding out if banks and similar industry associations had abused their dominance. However, banking bodies from UK, Germany, and France said that they were not raided. Most fintech companies offer cryptocurrency-related services and mobile payment apps and have been snagging market share from traditional financial operators. Most […]

New Fintech Program Launched by DBS Bank and IMDA of Singapore

New Fintech Program Launched by DBS Bank and IMDA of Singapore

The Infocomm Media Development Authority (IMDA) authority of Singapore and DBS Bank have officially launched a program that envisions to provide specialist technology skills to professionals in the banking sector. The co-developed program, Skills Enhancement and Education (SEED), was launched last week. The 12-month long training program focuses on Information Security, DevOps, and Infrastructure Development. It includes on-the-job training and the participation of industry leaders to aid in the better understanding on how banks operate in a digital environment. DBS aims to hire the best performers of the SEED program as the company’s future tech leaders. The SEED program is […]

Hong Kong Fintech Week to be Held in October

Hong Kong Fintech Week to be Held in October

Hong Kong is set to host its second annual FinTech Week in October of this year. According to the InvestHK, the event will focus on the driving forces that have propelled the country into a major financial technology hub.   The the Hong Kong Special Administrative Region government department added that participants will include Hong Kong regulators, private sector partners, industry leaders, and entrepreneurs. Some of the themes for this year will showcase Hong Kong’s efforts on raising funds, blockchain applications, AI, incubator and accelerator programs, as well as regulatory, insurance, and wealth management technology. Source: Xinhua Net

Singapore to Speed Up E-payment Adoption

Singapore to Speed Up E-payment Adoption

Last Sunday, Singapore Prime Minister Lee Hsien Loong discussed the state of e-payment adoption in his annual National Day Rally Speech. Lee revealed that despite being a well-connected, digitally literate society, majority of transactions in the country still use cash and cheques. He said the reason for this is the lack of interoperability between systems; consumers feel encumbered with carrying multiple cards and costs discourage businesses to carry multiple readers. Lee added that to help promote cashless payments, the Monetary Authority of Singapore has launched a single, unified POS terminal, as well as a peer-to-peer transfer service..   Source: ZDNet

Fintech Startup N26 Acquires 500,000 Customers

Fintech Startup N26 Acquires 500,000 Customers

Berlin, Germany – German direct bank N26 has reported acquiring 500,000 customers in Europe, which is an additional of 200,000 since March. The company also disclosed that they get around 1500 more customers each day. However, co-founder and CEO Valentin Stalf said that their growth is still 60% organic, and they are still planning to increase ads and branding efforts. At present, customers who sign up get a current account with a Mastercard, send and receive money with German IBAN, and make card purchases without foreign transaction fees. N26 is also in the process of adding more financial services including […]

Singapore CFTE and MAS To Boost ASEAN FinTech Skills for Finance Professionals

Singapore CFTE and MAS To Boost ASEAN FinTech Skills for Finance Professionals

Singapore — The Centre for Finance, Technology and Entrepreneurship (CFTE) is collaborating closely with the Monetary Authority of Singapore (MAS) to develop a financial technology (fintech) education hub for finance professionals. The CFTE was established in May to provide an education program for professionals in the ever-changing field of digital finance. Working with MAS also enables them to extend the platform to the Association of Southeast Asian Nations (ASEAN), where professionals can share more information and strategies. MAS chief fintech officer Sopnendu Mohanty stated that people are a vital resource for success in fintech. The initiative came following the increasing […]

Fintech Finances Soar to a Noteworthy US$5.2 Billion in Q2

Fintech Finances Soar to a Noteworthy US$5.2 Billion in Q2

London, England — According to news last Tuesday, Financial technology (fintech) funds have reached a notable record of US$5.2 billion in the second quarter. This is attributed to the rise of 26 ‘unicorn’ fintech startups that are worth US$1 or more, and 5 rookie firms reaching a significant development in the previous quarter. According to CB Insights, an estimated 251 international deals were made during Q2, which is a noticeable increase from last quarter’s 245 deals. These figures specifically cited fintech companies supported by venture-capital investments. As for Asia, the deals ramped up from 43 in Q1 to 67 in […]

FINTQ Becomes Largest Fintech Company in the PH with New Digital Partnerships

FINTQ Becomes Largest Fintech Company in the PH with New Digital Partnerships

Manila, Philippines — In a report last Saturday, Smart and PLDT’s financial technology (fintech) division called FINTQ has proclaimed many new digital collaborations with various organizations. It is considered the country’s biggest running fintech company today. According to PLDT, Smart chairman Manuel V. Pangilinan, innovating the way the financial industry works requires solid cooperation between traditional banks, fintechs, and major industry players. He is proud that FINTQ can pioneer this change, which is a big leap into the direction of true financial inclusion. FINTQ’s digital lending application is called Lendr, a breakthrough platform. To date, Lendr is used most widely […]