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MAS issues digital banking licences in Singapore

News | Online & Mobile Banking | 26 Jan 2021

The Monetary Authority of Singapore (MAS) has announced that four entities were awarded digital banking licenses in early December 2020, according to

Monetary Authority of Singapore, MAS, Singapore, digital banking, licence, Singtel, Grab, banks, Ant Financial, Sea Limited

Digital wallet provider TNG Digital to secure USD 150 mln investment

News | Cryptocurrencies | 25 Jan 2021

Digital wallet provider TNG Digital, launched by CIMB Bank and Ant Group, has plans to secure $150 million in capital, according to Crowdfund Insider.

digital wallet, TNG Digital, investment, CIMB Bank, China, Ant Financial, Ant Group, online wallet, digital payment, Malaysia, COVID-19, Touch ‘n Go, money market unit trust fund

ByteDance to apply for Singapore banking licence

News | Online & Mobile Banking | 15 Jun 2020

China-based ByteDance, an internet technology company, has announced it is going to expand its services into banking by joining forces with Singapore’s Lee family.

ByteDance, partnership, Lee, Singapore, banking, banking licence, internet, technology, digital bank, OCBC Bank, Monetary Authority of Singapore, Alibaba, Ant Financial, Xiaomi, Hong Kong, China

Ant Financial to invest USD 73.5 mln into Wave Money

News | Payments General | 18 May 2020

Ant Financial has announced plans to pour over USD 73.5 million in fintech company Wave Money to boost financial inclusion in Myanmar.

Ant Financial, Wave Money, financial inclusion, digital banking, fintech, Asia, funding

MYbank to release USD 282 bln lending plans during pandemic

News | Online & Mobile Banking | 06 May 2020

Online lending platform MYbank, backed by Jack Ma, has planned to issue USD 282 billion worth of loans to small- and medium-sized companies in 2020.

MyBank, pandemic, online lending platform, Jack Ma, SME, China, lending surge, Ant Financial, loan algorithms, real time payments

AlipayHK and Kakao Pay to become available to PayPay merchants

News | Mobile Payments | 28 Apr 2020

Japan-based mobile payments venture PayPay has announced it will support code payment services Kakao Pay and AlipayHK

PayPay, Alipay, AlipayHK, Kakao Pay, Asia, mobile payments, Ant Financial, QR payments

Ant Financial launches blockchain solution for small business developers

News | E-invoicing, SCF & E-procurement | 21 Apr 2020

China-based fintech group Ant Financial has opened its OpenChain distributed ledger blockchain platform to small business developers to help with the creation of distributed apps.

Ant Financial, Openchain, blockchain, China, ledger, transaction, data, network, technology, authentication, decentralized apps, security, Asia, APAC

Agricultural Bank of China to trial interface for PBoC's central bank digital currency

News | Cryptocurrencies | 16 Apr 2020

The Agricultural Bank of China (ABC), a large state-owned bank, has started testing an interface for the country’s central bank digital currency (CBDC).

Ant Financial, Tencent, mobile app, DC/EP, Agricultural Bank of China, PBOC, central bank digital currency, China

Singapore extends period for approving digital bank licences

News | Online & Mobile Banking | 09 Apr 2020

The Monetary Authority of Singapore (MAS) has extended the assessment period for approving digital bank licences, citing the global escalation of the COVID-19 pandemic.

Singapore, digital bank, licence, COVID-19, MAS, retail, wholesale, China, Ant Financial

Ant Financial and ICBC deepen strategic collaboration

News | Online Payments | 31 Mar 2020

Ant Financial and Industrial and Commercial Bank of China have announced a collaboration as part of a strategic partnership unveiled in December 2019.

Ant Financial, Industrial and Commercial Bank of China, ICBC, China, Asia, APAC, online payments, financial technology, Alipay, payment collection, QR payments, merchants

Smart2Pay adds Ant Financial's HUABEI credit card to its payments portfolio

News | Online Payments | 25 Mar 2020

Smart2Pay, a company that covers online alternative payment solutions worldwide, has added Huabei credit solution to its 200+ payment methods portfolio.

Smart2Pay, Huabei, Ant Financial, Alipay, merchants, cards, alternative payment, credit card

ZA bank, a Hong Kong-based online-only bank, starts operating

News | Online & Mobile Banking | 24 Mar 2020

ZA bank, a Hong Kong-based online-only bank, has begun operating. 

Hong Kong, online banks, banking licences, Ant Financial, Standard Chartered, Tencent, HSBC, Bank of China, virtual banking

Singapore to licence neobanks and wholesale banks

News | Payments General | 11 Mar 2020

Singapore’s regulatory authority has announced that in June 2020 they will issue operational licences to three neobanks in order to provide better services to underbanked enterprises.

digital banking, Singapore, fintech, MAS, Ant Financial, TikTok, licences, neobanks, Monetary Authority of Singapore

Fintech fundraising grew strongly in major markets in 2019, Accenture

News | Payments General | 20 Feb 2020

Investment in fintech ventures has risen sharply in most major markets in 2019, led by gains in the US and UK and emerging economies such as India and Brazil, according to Accenture.

challenger banks, fintechs, banks, insurtech, investment, Nexi, Ant Financial, Figure Technologies, NAVER Financial, Chime, study, Accenture

Hong Kong's ZA Bank offers 6% deposit rate, challenging incumbents

News | Online & Mobile Banking | 13 Jan 2020

Hong-Kong-based challenger ZA Bank has announced its arrival with an introductory rate of 6% or higher for deposits.

Za Bank, HSBC, Standard Chartered, interest rate, deposit rate, challenger bank, digital bank, online banking, Hong Kong, Asia, APAC, banking, Hong Kong Monetary Authority, Ant Financial, Tencent

Ant Financial applies for digital banking license in Singapore

News | Online & Mobile Banking | 03 Jan 2020

China-based Ant Financial, an affiliate of ecommerce giant Alibaba Group, has joined the race for a digital banking license in Singapore, Business Standard reports.

Ant Financial, Singapore, China, digital banking, ecommerce, banking license, Monetary Authority of Singapore

Alibaba, Ant Financial strengthen cooperation with ICBC

News | Mobile Payments | 17 Dec 2019

Alibaba, Ant Financial, and ICBC have signed an agreement to fully enhance their strategic cooperation, thus promoting the wider use of digital technology in financial services.

ICBC, Alibaba, Ant Financial, partnership, China, digital technology, financial services

Vanguard, Ant Financial work together for inclusive wealth management services in China

News | Online Payments | 16 Dec 2019

Vanguard and Ant Financial Services Group have partnered to bring a broadly-available investment advisory service to retail consumers in China.

Vanguard, Ant Financial, partnership, management services, China, payments , fund investment, risks, Alipay

Postal Savings Bank of China, Ant Financial to enable fintech innovation in the country

News | Payments General | 27 Nov 2019

Postal Savings Bank of China, the state bank with the largest branch network, has signed a strategic cooperation agreement with fintech tech company Ant Financial.

Postal Savings Bank of China, Ant Financial, fintech, partnership, banking, payments , China, lending, innovation

Alipay, Worldline to enable mobile payment in Europe for Asian tourists

News | Mobile Payments | 14 Nov 2019

Alipay, operated by Ant Financial Services Group, and Worldline have announced the expansion of their long-lasting partnership.

Alipay, Worldline, partnership, Europe, Asia, Ant Financial, merchants, POS, e-wallet, mobile payment