UOB to launch digital bank in Thailand

February 14, 2019 Digital Banking

        Singapore’s United Overseas Bank will launch its first ever mobile-only digital bank next week in Thailand, joining a swath of regional players that are coming out with offerings aimed at young and digitally savvy consumers in Southeast Asia. Called TMRW, UOB’s offering will initially comprise a transaction account, a savings account and a credit card. The Singapore bank...Continue reading

HSBC uses Blockchain to settle $250bn of FX transactions

January 16, 2019 Blockchain

        HSBC says its use of distributed ledger technology over the last year to settle more than three million foreign exchange transactions has proved a big hit. The bank has used its HSBC FX Everywhere platform to orchestrate payments across its internal balance sheets, making more than 150,000 payments worth $250 billion. Using a shared permissioned ledger, which provides...Continue reading

Mashreq Bank rolls out Samsung Pay

January 14, 2019 Payments

        Mashreq Bank, the UAE’s leading financial institution, has rolled out a service that allows customers to instantly add their credit cards to Samsung Pay via Snapp, enabling them to make easy, fast and secure payments. Aref Al Ramli, Head of Digital Banking and Innovation, Mashreq Bank said: “Mashreq Bank has always been at the forefront of the UAE’s...Continue reading

CBA launches Alipay in Australia

December 20, 2018 Uncategorized

        Leading payments technology in Australia, Commonwealth Bank will become the first major bank to provide Alipay to customers in store. With around 900 million users choosing to pay for goods and services globally via Alipay and its strategic partners, Commonwealth Bank today launched the payment app on its Albert touchscreen device. Alipay will be available for in-store payments,...Continue reading

Real-time payments market – global forecast to 2023

December 12, 2018 Payments

          MarketsandMarkets forecasts the global RTP market size to grow from USD 6.8 billion in 2018 to USD 25.9 billion by 2023, at a CAGR of 30.6% during the forecast period. The major growth factors expected to drive the growth of the RTP market include the high proliferation of smartphones, adoption of cloud-based solutions, customers’ demand for immediacy...Continue reading

DBS expands in the Middle East, will double the number of private bankers over 5 years

December 4, 2018 Private Banking

        DBS has unveiled expansion plans in the Middle East, homing in on a growing wealth segment that looks towards Asia for investment opportunities. It will make its Dubai office a strategic hub for the Middle East, positioning itself as the partner of choice for clients wishing to access the Asian market. Over the next five years, South-east Asia’s...Continue reading

Bank of Georgia is the first JCB card acquiring bank in Georgia

November 26, 2018 Payments

        JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., and Bank of Georgia, a bank in Georgia, are proud to announce that Bank of Georgia has started to accept JCB Cards across the country. Bank of Georgia, one of the largest bank of the country by assets, has begun to service JCB Cards in its...Continue reading

Tandem Bank to enter the Hong Kong Market

November 21, 2018 Digital Banking

        Convoy Global Holdings will invest £15 million (US$19.29 million) for a significant stake in British virtual bank Tandem Bank, as it seeks to apply for a virtual bank licence from the Hong Kong Monetary Authority, according to a stock exchange filing on Tuesday. Under the agreement, subsidiary Convoy Technologies will buy an undisclosed stake in Tandem Money, which...Continue reading

Grab lands $50M from Thailand’s Kasikorn Bank to further its fintech push

November 9, 2018 Fintech

        Southeast Asia ride-hailing firm Grab is continuing to add strategic investors to its ongoing Series H round — which is targeted at more than $3 billion — after it revealed Thai bank Kasikorn put in $50 million as part of a strategic partnership to advance its financial services strategy. Kasikorn joins Hyundai ($250 million), Microsoft (undisclosed) and travel...Continue reading