Grab and Singtel form consortium for Singapore digital banking licence

SINGAPORE: Grab Holdings Inc and Singtel have partnered to form a consortium to apply for a digital full bank licence in Singapore. Grab, Southeast Asia’s leading super app, will have a 60 percent stake in the consortium entity while Singtel, Asia’s leading communications technology group, will hold a 40 percent… Continue reading

Life, annuity insurers keep appetite for long-term debt in check

OLDWICK: Long-term debt obligations among publicly traded U.S. life/annuity (L/A) insurance companies has declined by 14% over an eight-year span, to $89.3 billion in 2018 from $103.8 billion in 2010, according to a new AM Best report. A new Best’s Special Report, titled, “Life/Annuity Companies’ Appetite for Long-Term Debt Kept… Continue reading

Finablr and Samsung Electronics America launch money transfer feature in Samsung Pay

LONDON: Finablr PLC, a global platform for payments, and Samsung Electronics America, announced the launch of the Money Transfer feature in Samsung Pay. This new in-app international money transfer service offers users seamless and secure cross-border payments to 47 countries through a variety of payout methods, all within Samsung’s native… Continue reading

DFM launches ‘myAccount’ electronic service

DUBAI: As part of its strategy to provide market participants with smart and efficient solutions in line with the leadership’s digital transformation vision, the Dubai Financial Market (DFM) launched “myAccount” service, an electronic account that enables investors to seamlessly transfer dividends amounts to their iVESTOR Card accounts, bank accounts as… Continue reading

SGX invests in fintech Smartkarma, advances investment research

SINGAPORE: Singapore Exchange (SGX) has announced a strategic investment in Smartkarma, a Singapore-based fintech that is building a global presence with its pioneering investment research platform. This investment comes on the back of a growing trend towards self-directed and independent research, creating growth opportunities for Smartkarma’s platform that facilitates the… Continue reading

Strategic fintech partner signs new Clareti technology licence agreement

LONDON: Gresham Technologies plc, the leading software and services company that specialises in providing real-time data integrity and control solutions, has signed a licence agreement with ANZ Bank (ANZ), its strategic fintech partner, for new digital open banking technology arising from the innovation service first announced on 26 September 2018…. Continue reading

Augmentum Fintech announces further investments totalling £8.5 million

LONDON: Augmentum Fintech plc, the UK’s only publicly listed investment company focusing on the fintech sector, has made an aggregate of £8.5 million of follow-on investments into three portfolio companies as follows: £5 million investment in Tide, an emerging force in SME challenger banking £2.5 million investment in Monese, the… Continue reading

Mashreq Bank posts AED 628 million net profit for 1Q 2019

DUBAI, UAE: Mashreq, one of the leading financial institutions in the UAE, has reported its financial results for the first quarter ending 31st March 2019.[the_ad id=”31605″]Key highlights [1Q 2019 vs 1Q 2018]: Healthy Net Profit: Net profit for 1Q 2019 stood at AED 628 million – a 5.0% increase YoY;… Continue reading

SBP launches Electronic Money Institutions Regulations

KARACHI: The State Bank of Pakistan (SBP) held Monday the launching ceremony of regulations of Electronic Money Institutions (EMIs) in Islamabad. Federal Minister for Finance, Revenue and Economic Affairs, Asad Umar was the chief guest. EMIs are non-bank entities that will be licensed by the SBP to issue e-money for… Continue reading

Visa announces Fintech Fast-Track Program in Central & Eastern Europe, Middle East and Africa

KARACHI: Visa has announced it is expanding its Fintech Fast-Track Program in the Central and Eastern Europe, Middle East and Africa (CEMEA) region as part of its efforts in developing the next generation of digital payment solutions. Already rolled out in Europe, Latin America and Asia Pacific, the program provides… Continue reading

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