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Matchmove partners with OpenPayd in bid for digital bank license in Singapore

Monday 23 March 2020 09:55 CET | News

Singapore-based fintech MatchMove has submitted an application for a Digital Full Bank License to the Monetary Authority of Singapore. 

 

With the innovative Wallet-as-a-Service platform and the full Spend.Send.Lend suite, MatchMove today manages the end to end process for millions of customer transactions across multiple countries in Asia. Providing full digital banking is a step for MatchMove’s current capabilities towards a holistic and integrated banking proposition.

The MatchMove led application brings together a consortium comprising Singapura Finance, Lightnet and OpenPayd, all regulated financial institutions in their respective markets, with capabilities and experience across the spectrum of digital financial services. These partners bring along regional and global connectivity to enhance the proposed Digital Bank’s value proposition. For Singapura Finance, participating in the DFBL application comes on the back of their close strategic relationship with MatchMove. Singapura Finance is leveraging the MatchMove Banking-as-a-service platform to power its Vivid Card solution and is also a strategic investor in MatchMove. 


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Keywords: MatchMove, OpenPayd, Singapura Finance, partnership, banking-as-a-service, BaaS, Monetary Authority of Singapore, Vivid Card, banking licence, Singapore, Asia, APAC
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Singapore
This article is part of category

Banking & Fintech