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It will cover various services such as multi-channel loan applications, credit assessment, and loan disbursements.

It also got its Capital Markets Services Licence.

It uses advanced analytics, AI and machine learning to detect irregularities.

Companies can identify inefficient use of liquidity and improve internal funding sources.

Despite suspicions of trading error, the SGX upheld the trade.

Zilingo merchants and manufacturers can directly access UOB's banking solutions.

CapBridge’s investment syndication platform will match UOB clients to anchor and accredited co-investors.

Indonesian travellers will soon be able to use local payment apps at Changi airport.

It will utilise a linked customs declarations number.

It allows clients to personalise watchlists and price alerts.

The move aims to encourage users to adopt digital payments.

It will also enable customers to access eKYC checks. UK-based fintech firm TransferWise obtained its remittance license in Malaysia which will allow the firm to launch remittances from its fourth Asian location. Previously, TransferWise was only able to enable customers to send money to but not from Malaysia. Apart from this, the license will also allow TransferWise customers in Malaysia to access eKYC (electronic Know Your Customer) checks, instead of having to fulfil KYC requirements face-to-face. “That means customers can open an account by simply submitting documents online, via the TransferWise app or website, without having to travel to a physical branch. This is similar to the experience new Singapore customers currently get,” the firm said in an announcement. TransferWise currently sends money from 43 countries, of which four are in Asia - namely Singapore, Japan and Hong Kong and Malaysia. Meanwhile, it allows money to be sent to 71 countries. “With an online banking penetration rate of over 85% as well as high smartphone adoption, Malaysia is well poised to become an important hub for fintechs in the region,” Malaysian minister of communications and multimedia Gobindh Singh Deo said. Launched in 2011 and headquartered in London, TransferWise handles $5.12b of cross-border transfers every month for its 5 million customers.  

It is available in the Philippines and will be launched in Thailand later.

It only launched the feature four months ago. DBS revealed that it has seen a 70% increase in digital transactions from its SME customers and 25% increase in transaction value since the bank launched DBS MAX four months ago, a mobile-based QR payment collection solution. The bank said that the adoption of DBS MAX has been steadily expanding with close to 2,000 merchants and 3,000 over outlets across Singapore, enjoying its popularity the most from customers in the F&B and retail sectors. The scheme is especially helpful for SMEs adopting digital forms of payment collection as it eliminates the time and effort in managing and depositing cash in banks. Overall cash transactions for SME customers using DBS MAX have significantly decreased by about half. “This correlates to the over four in five Singaporeans who are already using some form of e-payment, as digitalisation brings about more ease and convenience. This trend is set to continue with the increase in digital payments collections solutions targeted directly at SMEs such as DBS MAX,” the announcement said. DBS MAX has been rolled out in Hong Kong and India. DBS expects that more than three in five retail SMEs will sign up for the DBS MAX solution in the next 12 months.  

It will allow LINE Pay users to transact at over 54 million Visa merchant locations. Visa and LINE Pay will team up to create new financial services experience for their collective user bases of millions of consumers and merchants worldwide. In consumer payments area, active users of LINE will be able to apply for a digital Visa card from within the LINE app, and over time, add any of their existing Visa cards to make payments from their mobile phone. The companies will also offer users additional and enhanced experiences like integrated loyalty programmes and tailored offers and new payment capabilities for users when they travel overseas. The partnership will also allow LINE Pay users to use LINE Pay at Visa’s 54 million merchant locations. These transactions can be viewed through their LINE Pay digital wallet, even where LINE Pay is not directly accepted. Additionally, the team will develop new experiences based on blockchain that enable B2B and cross-border payments and alternative currency transactions and will partner on exclusive marketing campaigns and promotions to contribute to Japan’s acceleration towards a cashless society in the lead-up to and after the Olympic Games. The Visa co-brand programme currently serves 2.3 million customers in Taiwan, and will be launched later in 2019 in Japan.

It will allow FX e-trading of over 130 currencies.