Singapore
Maybank SG prevents S$1.21m loss across 19 cases
Maybank SG prevents S$1.21m loss across 19 cases
The bank worked with the SPF to intervene in 19 scam cases.
Value of loans to SG SMEs fell by 42% in 2023
There were less SMEs earning $300,000 a month who took out loans.
DDEx’s digital token trade value triples in 5M 2024
Active trading clients have also grown by 36% during the period.
Singapore banks are phasing out OTPs for logins
Banks will instead use digital tokens to authenticate bank account login attempts.
OCBC unveils financial programme for SG’s 36,000 property agents
It offers preferential home rates and bonus interest, amongst others.
Maybank Singapore rolls out money lock feature
Customers will need to visit branches or use select ATMs to unlock funds.
CIMB SGoffers up to 3.88% limited-time rate for new business customers
The offer is valid until 31 August 2024.
Singapore proposes strengthened anti-money laundering bill
This includes empowering law enforcement agencies in prosecuting ML offences.
UOB winds down digital credit assessment subsidiary
It had promised to invest S$12m on Avatec when it launched in 2018.
SG banks turn to upskilling as hiring sentiments turn ‘cautious’
Roles related to wealth advisory and anti-ML and fraud are most in demand.
Hong Kong IPO market plummets to lowest in two decades
IPOs in Hong Kong only raised $1.5b to date, 35.2% lower than in H1 2023.
Silverlake Axis names Cass Goh as new CEO
Goh has been Silverlake Axis’ group deputy executive chairman since Oct 2023.
HSBC Singapore unveils Live+ credit card for lifestyle spending
It offers an 8% cashback and 15% discount on selected transactions.
Banking sector poses highest money laundering risks in Singapore
Non-banking sectors such as corporate service providers, real estate, casinos, and precious stones also pose high ML risks in the country.
Robo-advisors gain traction amongst younger Singaporeans
40% of respondents under 35 stated using robo-advisories.
Singapore and Cambodia launch financial transparency corridor for SME trade
Participating financial institutions include ANEXT Bank and Advanced Bank of Asia.
OCBC Securities launches Singapore’s first AI stock-picker
The AI-powered tool will be key to boosting its pool of active investors.
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1. Chocolate Finance to continue 3-6 day withdrawal time frame 2. SG millennials, Gen Z want rewards customisation in credit cards 3. OCBC CEO Helen Wong’s remuneration up 5.7% to S$12.8m in 2024 4. UOB unveils FDI Advisory Centre in South Korea 5. Trust Bank introduces money lock feature with digital unlocking capabilitiesResource Center
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Nearly 8 in 10 MSMEs still face barriers to accessing loans, an expert said.
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