Fintech Singapore
2022 - 11 - 2
Embedded Finance Firm Weavr Expands to Singapore - Fintech ... (Fintech News Singapore)
Weavr is setting up in Singapore as part of its efforts to make embedded financial services available to any digital business.
“I am delighted to see UK fintech Weavr expand into Southeast Asia with the opening of its office in Singapore as a launchpad into the region. We see few better opportunities for deploying a significant portion of the US$40 million of capital we raised earlier this year to bring the benefits of embedded finance to digital innovators and ultimately to their customers in the region”. Weavr is setting up in Singapore as part of its efforts to make embedded financial services available to any digital business.
Rapyd Rolls Out Its Multi-Currency Treasury Solution - Fintech ... (Fintech News Singapore)
Rapyd revealed its Treasury Solution – the first of its kind in Asia-Pacific at the 2022 Singapore Fintech Festival today.
That added more cost reduction in daily operational overhead for collecting, paying out, and rebalancing funds. This can lead to 70 to 90 percent cost savings for businesses. [designed](https://www.rapyd.net/) a collection of cash management features in its Treasury Solution for simpler cross-border funds management for international businesses of any size, from mature global enterprises to emerging regional exporters and startups. Aside from same-day collection access and instant payments, businesses can settle the remaining funds as quickly as instantly to their local lead bank. Businesses in Singapore have been asking for a cohesive Treasury Solution for years, and the Rapyd team is pleased to be the first in the market to bring this game-changing solution to our clients in APAC.” Rather than set up and keep track of numerous overseas bank accounts to deal with various countries and currencies, Rapyd’s Treasury solution streamlines the process of settling with the business’ lead bank regardless of where the funds are coming from and going out to.
Mastercard to Expand Farm Pass Programme Across APAC ... (Fintech News Singapore)
Mastercard announced today at the Singapore Fintech Festival that it would expand its Farm Pass digital platform across the Asia Pacific region.
The expansion will build on the success of the Farm Pass platform in India, where it has helped smallholder farmers connect to vital services and markets. The success of the programme in India has benefited two million farmers. Rabo Partnerships will be providing accessible financial services to farmers to improve their credit score, via credit analytics and product development within partner financial institutions. This way, farmers do not need to own a smartphone, pay for data, or be digitally literate in order to participate in the programme. Importantly, Farm Pass isn’t an aid program or philanthropy—rather, it enables farmers to be properly paid. The expansion of the Farm Pass platform is part of Mastercard’s
Opening Address by Mr Lawrence Wong, Deputy Prime Minister and ... (Monetary Authority of Singapore)
At the Singapore FinTech Festival 2022, Mr Lawrence Wong, Deputy Prime Minister and Minister for Finance, and Deputy Chairman, MAS spoke about the 5 Es of ...
And all of us in the Singapore Government and MAS will walk this journey with you, to support and collaborate with the FinTech community in this joint endeavour. But amongst the remaining individual users of cheques, we recognise there are some, especially seniors, who are still not comfortable with shifting to e-banking and e-payments. This will help to bring down a substantial portion of the cheque transaction volume in Singapore. More than 200 jobs have been created with the setting up of new innovation labs, and the scheme has also supported the growth of young start-ups into technology players with a strong nexus to financial services. In particular, it can help to ensure the quality and accessibility of ESG data, and address concerns associated with green-washing. MAS has made clear our stance on speculative trading of crypto currencies by retail investors – we believe this is highly risky, not suitable for the public, and we aim to reduce the risk of potential harm to consumers. This will enable Singaporeans to identify potential gaps in their protection more easily, and have a more comprehensive view of their financial positions. This extends the same benefits that we have in PayNow, to fund transfers between Singapore and Thailand. One specific approach that we are taking in Singapore is to establish linkages between the real-time payment systems of our key regional partners. This collaboration will lead to a significant reduction in the time and effort needed to process these guarantees, and ultimately benefiting the individual and business users. It enables us to be more productive, to improve our standards of living, and to build greater resilience. These 5 Es – Enhance; Empower; Envision; Encourage and Engage – sets the backdrop for Singapore’s FinTech journey to harness the full potential of technology and innovation.
Lawrence Wong outlines govt's new tech initiatives, including "digital ... (Vulcan Post)
The government intends to trial purpose bound digital Singapore Dollars, which opens up a wide variety of use cases.
This also provides more time for MAS to consider those who are unable to adopt e-payments, and look into necessary transitional support. But to do an in-depth review of your financial situation, you need access to data.– Lawrence Wong, Deputy Prime Minister of Singapore However, the ESG fintech landscape is still nascent in Singapore. He announced that SGFinDex has a new update today — individuals will now be able to view their insurance policies. More details will be unveiled in the first quarter of next year. For its second round of funding, the government provided over S$200 million in committed funding for more than 1,000 projects. This will not only benefit businesses by reducing cost and improving access to foreign markets, but also provides a faster and cheaper alternative for individuals. This trial will provide immense learning opportunities as Singapore advances its financial infrastructure. The pandemic has been a significant catalyst to digitalisation. This ability opens up a wide variety of use cases. This can now be done over a day, fully online. Singapore introduced the financial sector technology and innovation scheme (FSTI) to support the creation of a vibrant ecosystem for innovation in the financial sector back in 2015.
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