FinTech

The initiative includes a trial involving a local payment gateway.

This enables over 63% of all Wise transactions to be completed instantly, with an average fee of 0.62%.

The service allows foreign customers to pay in their home currency

Customization and security drive engagement and trust.

Virtual asset service providers will now need to be licensed.

The agreement will promote regulatory collaboration between the two markets.

It will run for 2 years and provide incubation support to institutions.

WealthTech captured most of the seed funding; Marketplace Lending unlikely to rebound.

Payment gateway Xendit raised $300m in its Series D funding to help push up the numbers.

If it continues this trend, fintech investments will be down 39% in 2022.   Financial technology (companies in Australia raised $0.8b of capital during the first six months of the year, according to data gathered by Fintech Global. 

There were only eight investment transactions during the quarter.

Beyond attractive compensation, fintechs should also emphasise wellbeing, flexiwork.

In November, Singapore’s National AI Office (NAIO) collaborated with the Monetary Authority of Singapore (MAS) and the Smart Nation and Digital Government Office (SNDGO) in a programme to strengthen AI capabilities within Singapore’s financial sector by providing financing and access to government data. In fact, even before the pandemic, the financial services industry has already been witnessing an acceleration in digital transformation. 

More than one in three APAC SMEs consider switching to fintech.

The total transaction value is smaller than in H1 2020 but deal numbers are at a three-year high.

It will take place from 8 to 12 November as a hybrid event.