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OCBC Bank, HSBC and MUFG in KYC blockchain breakthrough

It's blockchain story time!

OCBC Bank, HSBC and Mitsubishi UFJ Financial Group (MUFG), together with the Infocomm Media Development Authority (IMDA), has become the “first consortium” in South East Asia to complete a proof of concept for a know your customer (KYC) blockchain. The parties say the development “raises the possibility” of using blockchain to make KYC “more efficient […]

Hong Kong’s SFC unveils regtech sandbox

Hong Kong

Hong Kong’s Securities and Futures Commission (SFC) has launched its SFC Regulatory Sandbox to provide a place for firms to test out their ideas. Like other regulators, the SFC says: “For the sake of market integrity and better investor protection, the reliability of the delivery of such financial services as well as the firms’ internal […]

Hong Kong regulator’s no phoney for banking plans

Hong Kong

The Hong Kong Monetary Authority (HKMA) has unveiled a number of initiatives as it looks to improve the region’s use of payments, APIs and innovation. In a speech delivered during the Annual Banking Conference of the Hong Kong Institute of Bankers, Norman Chan, chief executive of the HKMA, outlined its grand ambitions. Chan says: “The […]

Funding Societies interns introduce chatbot Miyu

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Funding Societies, a Singapore-based crowdfunding platform, has launched its chatbot Miyu. A first for such a chatbot created by a crowdfunding company in Southeast Asia. Developed by two interns at Funding Societies using bot platforms meya.ai and api.ai, combined with machine learning and natural language processing, Miyu works round the clock to answer queries about […]

Singapore payments start-up Instarem lands in Lithuania

Lithuania keen on fintech

Singapore-headquartered start-up Instarem has entered the European paytech arena and will now provide international money transfer services from Vilnius in Lithuania. The Bank of Lithuania has issued an approval for the electronic money institution (EMI) licence. As reported last year, the bank, the country’s central bank and regulator, promised to provide preliminary answers to financial […]

Fintechs – friends or foes?

Fintech – friend or foe?

Visa employees have a saying that “cash is our biggest competitor.” Mightier threats, however, are looming.

Ayondo remains private company after reverse takeover bid lapses

ayondo 1

Social trading company Ayondo may no longer be the first fintech company to go public on the Singapore Stock Exchange (SGX), reports Julie Muhn at Finovate (Banking Technology‘s sister company). That’s because the reverse takeover (RTO) bid offer from Singapore-based property developer, Starland Holdings, lapsed this week. The RTO bid, initiated in June of 2016, was for $117 […]

SCU launches AI service for customer queries

Australia flag

SCU (formerly Sydney Credit Union) has partnered with Australian fintech firm Epictenet to implement an artificial intelligence (AI) powered platform for customer queries. The new platform, called “Let’s Chat” (in its initial phase), is programmed to respond to general queries related to home loans, personal loans, credit cards and insurance products. At a later phase, […]

CFTE Supercharger-s fintech learning in Asia

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The Centre for Finance, Technology and Entrepreneurship (CFTE) has teamed up with SuperCharger, a fintech accelerator in Asia with offices in Hong Kong and Malaysia, to help its students learning with CFTE. UK-based CFTE cites SuperCharger’s accelerator programmes – which offer a B2B sales focus, closing 14 commercial proofs of concept (PoCs) in 12 weeks […]

CK Hutchison and Ant Financial form JV for Hong Kong payments plan

ant financial

Conglomerate CK Hutchison and Ant Financial have formed a joint venture (JV) to offer a digital wallet under the AlipayHK brand, with the aim to integrate online and offline payments in Hong Kong. Ant Financial says AlipayHK got over 100,000 active users in the first two weeks after its launch last May. The mobile app […]

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