Financial Services
Fintech startup soCash raises $8.17m in Series B funding round
Fintech startup soCash raises $8.17m in Series B funding round
The funds will be used to expand into Malaysia, Indonesia, and Hong Kong.
Banks' NIM expansion could hit 1-2bp in Q2
Both OCBC and UOB could have a NIM expansion of 2bp during the period.
Daily Briefing: GIC mulls bid for Brussels settlements firm Euroclear; Smart City Kitchens files complaint against Deliveroo and GrabFood
And Thai accelerator Rise forays into Singapore with its corporate AI programme.
Digital consumers power up Singapore's big three banks
DBS and OCBC generate twice or thice as much revenue from digital retail and SME customers than traditional customers, on average.
Global Innovation Alliance network expands to Vietnam
ESG, Quest Ventures and SIHUB will help Singapore startups set up, test-bed and commercialise their solutions in Ho Chi Minh City.
Daily Briefing: Check out investment bankers' salaries at JP Morgan; US VoIP firm 8×8 buys local startup Wavecell for $169.9m
And UOB partners with SG Enable, ARC, MINDS and SPD to boost inclusive hiring in Singapore.
Singapore Life partners DBS to roll out QR code payable premiums
More than $11m of premiums have been remitted via the unified scan-and-pay function.
International banking heads take home highest salaries in financial sector
The average base monthly salary for this role can hit $33,000.
Digital wealth manager Syfe launches in Singapore after $5.2m seed round
It also got its Capital Markets Services Licence.
Citi launches payment outlier detection service
It uses advanced analytics, AI and machine learning to detect irregularities.
Chart of the Day: Virtual banks may only account for less than 1% of Singapore loan market by 2022
The retail upstarts may account for 0.3% market share and wholesale challengers will take 0.9% of the market.
UOB to issue $750m 3.58% perpetual capital securities
They will be issued under its US$15b global medium term note programme.
Binance and Vertex Ventures set up fiat-to-crypto platform
It will provide real-time, 24/7 SGD deposit and withdrawal functionality via the Singapore FAST electronic funds transfer system.
How GoBear makes financial comparison easy for the everyday consumer
Its platform matches users with financial products, including insurance, credit cards, and trade financing.
Wealth protection gap hindering Singapore's affluent from growing their wealth for the long term: AIA Affluence Barometer 2019 reveals
AIA Singapore today unveiled AIA Platinum Wealth Elite to address a crucial gap that exists for the affluent; a single plan to meet both their wealth...
Standard Chartered Bank launches new savings account Unlimited$aver
It unlocks up to 5% cashback on Unlimited Credit Card spend with funds deposited into the Unlimited$aver account.
State Street Corporation gets new trust business license
It will now able to act as a trustee for collective investment schemes offered to institutional investors and restricted schemes offered to accredited...
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