BANKS AND FINANCIAL INSTITUTIONS

Start-ups may grab $385b slice of payments pie by 2025: Report

LONDON • Banks are set to miss out on as much as US$280 billion (S$385 billion), or 15 per cent, of their global payments revenue by 2025, as new start-ups muscle in and more of the business of...

A crypto firm hopes to get a Singapore banking licence

SINGAPORE (BLOOMBERG) - Cryptocurrency-related financial services are hard to find in Singapore, as digital assets are a market traditional lenders have tended to avoid. Sygnum, one of the first...

UBS launches Future of Finance Challenge contest for the region in Singapore

SINGAPORE - UBS has launched its Future of Finance Challenge competition for the Asia-Pacific region in Singapore, one of six cities around the world to invite innovators and fintechs to take part...

Singtel, Grab and Razer to study feasibility of applying for digital banking licence

Industry and digital players will be studying closely how a digital bank will complement their businesses in what has been described as one of the biggest policy moves in Singapore's bank...

Singapore to allow digital banks; MAS issuing up to 5 new licences: Tharman

The new licences are in addition to any digital banks local lenders have set up under the existing Internet banking framework.

Singapore's 3 big banks can defend market share against fintech threats: Moody's

SINGAPORE - The three largest banks by assets in Singapore will be able to defend their market share against fintech competitors, despite the rapidly growing threats to their bank business from...

Why I would welcome virtual banks

MAS' move to allow digital-only banks in Singapore will be a big deal and will change banking in Singapore as we know it, says ST associate editor Vikram Khanna.

Chinese fintech Pintec opens international HQ in Singapore, with plans to add R&D centre

SINGAPORE - Nasdaq-listed Chinese fintech solutions provider Pintec Technology has opened an international headquarters (HQ) in Singapore to further expand its global business.

Wirecard boosts profit forecast after payment growth jumps

BERLIN (BLOOMBERG) - Wirecard AG raised its earnings forecast for the year after first-quarter profit jumped on growing transactions, suggesting allegations of accounting irregularities aren't...

DBS offers digital token with increased security for corporates, SMEs

SINGAPORE - DBS Bank has introduced a new digital token to provide a higher level of security and an improved user experience to more than 200,000 of its corporate and small and medium-sized...

Big changes afoot for financial sector

Singapore's financial sector is on the cusp of a workplace revolution. A report by the Monetary Authority of Singapore (MAS) and the Institute of Banking and Finance (IBF) released on Tuesday...