Banking & Fintech.
Shinhan Bank Secures Incheon’s KRW 14.45 Trillion Treasury Account
Shinhan Bank will manage Incheon Metropolitan City’s main public funds until 2030, extending its nearly two-decade hold after fending off rival Hana Bank for the significant contract.
MoMo, Saigontourist Travel forge digital payment alliance
The partnership will expand digital travel product distribution and payment options for Vietnamese travellers, including cross-border transactions in over 60 countries.
Ant International Unveils Nearly 100 AI Fintech Products
The new AI-native financial technology stack spans payments, foreign exchange, and treasury, with a global rollout planned for later in 2026 across its Alipay+, Antom, WorldFirst, and Bettr platforms.
Singapore MAS Excludes Investment Scams from Shared Responsibility Framework
Singapore's financial regulator, the Monetary Authority of Singapore (MAS), will not extend its Shared Responsibility Framework to investment scams. This decision comes as investment scams, which involve self-authorised transfers, recorded the highest financial losses in the first half of 2026.
India's RBI Cancels Five NBFC Operating Certificates in August
The Reserve Bank of India revoked operating certificates for five non-banking financial companies last month, preventing them from transacting business under the RBI Act of 1934.
DBS Expands Gold Storage as SGX Prepares Gold Clearing
DBS has increased its Singapore gold storage capacity following client demand, ahead of the Singapore Exchange's planned launch of an over-the-counter gold clearing system by late 2026.
DBS Launches Chromo, TravelLah! Cards for Young Singaporeans
DBS introduced new Chromo credit and TravelLah! debit cards, targeting younger Singaporean customers. These products offer tailored cashback and fee-free overseas spending features.
Singapore's covered bond market reaches S$29.8 billion
The Monetary Authority of Singapore reported that new issuance reached a record S$11 billion in 2025, with the market growing 15% annually since 2021.
Marex Names Robert Cheeseman Asia Prime Services Head
London-headquartered financial services firm Marex appointed Robert Cheeseman as its Asia head of prime services. He will operate from Hong Kong, bringing experience from HKEX and major banks.
Morgan Stanley: Singapore, Hong Kong Banks Gain Most From Asia Capital Markets
Singapore and Hong Kong financial institutions will capture the largest gains as Asia's capital markets deepen in the second half of this year, Morgan Stanley analysts forecast. Regional wealth accumulation drives this shift from traditional deposits to diverse financial assets.
StashAway Names Nandini Joshi CEO, Ferrario Becomes Chairman
Singapore-based digital wealth platform StashAway has appointed Nandini Joshi as its new Group Chief Executive Officer, succeeding co-founder Michele Ferrario, who transitions to chairman after nine years.
Grab to acquire 60% of Atome Financial for US$1.49 billion
The initial cash transaction, including US$260 million in growth capital, is expected to close by the third quarter of 2027, with full ownership planned two years later.
Ant International Secures Brazil Payment Licence
Ant International obtained a payment institution licence from Brazil's central bank. This approval expands its local and cross-border payment services in the country. The move deepens Ant International’s presence through its Antom platform.
China Securities Association Proposes Offshore Pay Clawbacks
China's Securities Association seeks feedback by September 29 on draft rules introducing pay clawbacks and integrity reporting for brokerages' overseas operations.
RBI Drafts Rules for Indian Banks on Cyber Fraud Debit Holds
The Reserve Bank of India issued draft amendments on 11 September, outlining procedures for commercial and co-operative lenders to temporarily freeze accounts linked to financial fraud.
KB Financial Group names Lee Jae-keun chairman nominee
Korea's largest financial group, KB Financial Group, has nominated Lee Jae-keun, 60, as its next chairman, an unexpected move over the incumbent that signals a focus on new growth strategies.
Cake Digital Bank wins Euromoney's Vietnam Best Digital Bank 2026 award
The Vietnamese lender, operating for nearly six years, reported profitability in mid-2024 and serves over 7.6 million customers through its digital platform.
Bank of Thailand to Mandate BNPL Licences by Q4 2026
The move aims to tighten oversight of online instalment lenders, with public consultation on the new framework scheduled by end-September.
Nam A Bank secures $30 million Proparco green finance for Vietnam
The five-year credit facility supports renewable energy, energy efficiency, and other green projects, boosting Nam A Bank's lending capacity across Vietnam.
DBS CEO Tan Su Shan: Bank to focus on Asia, not global expansion
South-east Asia’s largest bank will prioritise regional wealth management, capital markets, and trade, acknowledging US market dominance.
Alipay+, S&P Global: Consumers Wary of AI Payments
A survey of 6,000 consumers across nine markets by Alipay+ and S&P Global shows only 26% would use AI agents for transactions, despite strong interest in AI for travel planning.
Ant International Expands AI Payments to 1.5 Billion Asian Users
The Agentic Mobile Protocol, launched in April 2026, integrates AI agents with 10 digital wallets and seven payment acquirers, including Alipay and GCash, across Asia.
Grab, GXS Bank Launch EV Financing, Charging for Singapore Drivers
Singapore drivers can access up to 100% financing for electric vehicles and over 3,000 charging points via Grab's new integrated platform.
Mastercard Names Beena Pothen West Southeast Asia President
Mastercard has appointed Beena Pothen to lead its West Southeast Asia division. She will oversee operations across Singapore, Malaysia, Thailand, Brunei, and Myanmar, following a restructure of the company's regional leadership.
State Street names Tim Helyar as new Asia Pacific chief
Mr Helyar moves to Hong Kong from Sydney, taking over the regional leadership role from Lochiel Crafter at the US global banking giant.
Laters.com, Crypto Flight Booker, Raises US$1.5M Seed Led by XBO
Singapore's Laters.com secured US$1.5 million in seed funding. XBO Ventures led the round for the flight booking platform, which processes payments with 70+ cryptocurrencies.
Sumsub Launches Fraud Prevention Kit as Complex Attacks Jump 180%
Sumsub released a new fraud prevention kit. This tool addresses a 180% increase in complex fraud attempts, using onboarding data to assess applicant risk.
Hong Kong University Launches Wealth Academy Amid Talent Demand
The University of Hong Kong Business School has established a new wealth management academy. This initiative seeks to train professionals for Hong Kong's expanding private-wealth industry. The city recently surpassed Switzerland in cross-border wealth management.
Nextbank, Mount Carmel Rural Bank Launch Mobile Banking
Philippine banking tech firm Nextbank expanded its partnership with Mount Carmel Rural Bank Inc. (MCRBi). MCRBi will adopt Nextbank's Mobile Banking Solution, enhancing digital access for customers in the Calabarzon region.
Mynt CTOO Sy: AI Adoption Needs Trust, Not Just Speed
Mynt's Chief Technology and Operations Officer, Pebbles Sy, stressed that artificial intelligence (AI) integration demands strong governance and accountability. Speaking at the GCash iGnite Innovation Summit 2026, Sy noted that building user trust must accelerate faster than technology itself.
MAS Commits S$220 Million to Singapore Fintech Development
Singapore’s central bank, the Monetary Authority of Singapore (MAS), will inject S$220 million over three years into its financial technology sector. This funding, via the FSTI 4.0 scheme, aims to boost innovation and talent.
Crédit Agricole CIB Names Nicolas Vix Apac Regional Officer
Crédit Agricole CIB appointed Nicolas Vix as its Asia Pacific senior regional officer, effective today. He replaces Jean-François Deroche, operating from Hong Kong.
Societe Generale Names Sasai Japan Global Markets Head
Societe Generale has appointed Tomoyuki Sasai as its Head of Global Markets for Japan, effective September 1, 2026. He takes over from Marc Saffon, who now serves as the bank's Japan Country Head.
China's 6 State Banks Post H1 Growth, First Since 2022
China's six largest state-owned banks recorded their first simultaneous revenue and net profit growth in the first half of 2026 since 2022, signalling a tentative rebound in net interest margins.
Techcombank CEO Jens Lottner's H1 2026 Pay Rises 29 Percent
Techcombank Chief Executive Jens Lottner collected US$650,000 (VND16.9 billion) during the first half of this year, a 29% increase from the prior year period. The bank's financial statements reveal total remuneration for its board and CEO also rose.
ACI Worldwide Acquires Cranium Ventures for Card Switching Tech
ACI Worldwide will acquire Cranium Ventures, a company with key operations in Singapore and Malaysia, for its cloud-native card switching technology. The deal expands ACI's payment platform capabilities.
Asian Cybercrime Networks Use AI, Deepfakes; APG Warns Businesses
Asian cybercrime groups are shifting to decentralised operations and deploying advanced artificial intelligence (AI) to scale their scams and avoid detection, according to a new report from the Asia/Pacific Group on Money Laundering (APG).
UOB, HSBC Finalise Tokenised Hong Kong Dollar Payments
UOB and HSBC completed live cross-border Hong Kong dollar transactions using tokenised deposits on Swift's shared ledger. UOB marks the first Singapore-headquartered bank to use this system.
India NCDRC: Insurers Can Surrender Loan-Assigned Policies
India's top consumer body ruled life insurers may surrender policies assigned to banks as loan security if loans default, without policyholder consent.
DBS, Stripe Expand Asia Cross-Border Payments, Explore AI Tools
DBS and Stripe will broaden international payment services for Asian businesses. The partnership also investigates agentic artificial intelligence (AI) to boost transaction efficiency.
ASEAN Fintech Grapples With AI Skill Shortage, ADB Report Finds
A new report from the Asian Development Bank (ADB) and Global Fintech Institute (GFI) reveals a significant shortage of artificial intelligence (AI) skills across Southeast Asia’s financial technology sector. This deficit is most pronounced in Indonesia and Vietnam, despite both countries showing rapid AI adoption rates.
Singapore Asset Management Seeks Regulatory Clarity
Singapore's asset management sector is pressing for clearer, faster rules on new government initiatives. Firms need specific details on eligibility, scheme operations, and tax treatment to drive investment decisions amidst competition from Hong Kong.
Prudential Buys Back US$300 Million in Shares as Profit Growth Slows
British insurer Prudential announced a US$300 million share buy-back. New business profit growth slowed to 8% in H1, raising concerns over Hong Kong's mainland visitor impact.
UOB Prices €1 Billion Euro Covered Bond, First From Asia
Singapore's UOB completed a landmark €1 billion euro-denominated covered bond offering, becoming the first Asian issuer to do so. Strong investor demand allowed the bank to achieve tighter pricing for both two-year and five-year tranches.
Philippine Life Insurers Net P21.42 Billion, Assets Exceed P2 Trillion
The Philippines' life insurance sector reported a P21.42 billion net income for the first half of 2026. This 3.4 percent rise comes as total industry assets surpassed P2 trillion, according to the Insurance Commission. Premium collections also saw significant growth.
Philippine SEC Warns Fraudulent Apps Harm Fintech Trust
The Philippine Securities and Exchange Commission (SEC) warns of a rise in fraudulent lending applications. These apps impersonate legitimate brands and obscure true costs. This damages public trust in the online lending sector. It also increases operational costs for compliant fintech firms.
UOB vs Lippo Marina: Singapore Court Quadruples Damages to S$76.1M
Singapore's Appellate Division of the High Court significantly increased damages awarded to UOB against developer Lippo Marina Collection for fraudulent housing loan disbursements.
Philippine Supreme Court Rejects BDO Unibank Claim, Cites Bank Negligence
The Philippines' Supreme Court denied BDO Unibank's bid to reclaim funds, ruling the bank's gross negligence caused the loss. The decision establishes banks cannot recover money when their own operational errors lead to premature withdrawals.
Singapore Digital Banks GXS, Trust, MariBank Offer Six Credit Cards
Singapore's three digital banks now collectively provide six consumer credit cards. GXS Bank, Trust Bank, and MariBank products vary in rewards, cashback, and eligibility criteria. These offerings target distinct user segments within the market.
Green Link Digital Bank Posts S$16.1 Million Profit in FY2025; GXS Bank Records S$132 Million Loss
Singapore’s digital banking sector shows varied financial results for FY2025. Green Link Digital Bank (GLDB) achieved profitability, while GXS Bank, MariBank, Trust Bank, and ANEXT Bank reported significant losses.
LankaPay, Alipay+ Enable Wise QR Payments for Sri Lanka Tourism
Wise customers from seven markets can now make QR payments at LankaQR merchants across Sri Lanka. This service, enabled by LankaPay and Alipay+, aims to boost the country's tourism sector.
JP Morgan Upgrades UOB to Neutral, Maintains DBS Neutral
JP Morgan has upgraded UOB to neutral from underweight, citing attractive valuations and improving asset quality. The bank maintains a neutral rating on DBS and an underweight stance on OCBC, based on its August 23 analysis.
Indian Banks Face Up To Four-Day Closures This Week
India's banks will close for up to four days between 24 and 30 August, according to the Reserve Bank of India. Digital banking services remain operational, mitigating disruption.
Global Banks Slash 70,000 AI-Linked Jobs This Year
Financial services firms, led by major global banks, have eliminated over 70,000 roles linked to artificial intelligence this year, an eight-fold increase from 2025.
Peter Seah exits National Wages Council; DBS begins chairman search
Peter Seah, 79, stepped down as Singapore's National Wages Council chairman on August 19 for personal reasons. DBS Group Holdings has now commenced a search for a successor to its long-serving chairman.
Singapore FinTech Association Refreshes Advisory Council
Singapore's FinTech Association appointed four new members to its Strategic Advisory Council, bringing expertise in public-private partnerships, banking, investment, and industry development.
GCash, EMCOR Expand Digital Payment Access Across Mindanao, Visayas
Digital payments firm GCash partnered with Mindanao-based retailer EMCOR to introduce scan-to-pay and installment options. This collaboration covers 174 branches, extending digital finance to new areas.
Singapore Private Bank Onboarding Still Takes Months Despite MAS Goal
Wealthy clients in Singapore still face lengthy private bank account opening times, often taking months. This persists despite a Monetary Authority of Singapore-backed industry target to complete most onboarding within a month by end-2026.
Thunes, Circle Launch EURC Payments for 24/7 Global Treasury
Thunes now allows network members to fund cross-border transactions around the clock using Circle's euro-backed stablecoin, EURC. This service enables treasury management outside traditional banking hours for businesses globally, including those in Asia.
Peter Seah Steps Down as Singapore National Wages Council Chairman
Veteran banker Peter Seah has relinquished his chairmanship of Singapore's National Wages Council. He continues to lead DBS Group and Singapore Airlines boards.
ShopeePay Users in Singapore, Thailand Gain Weixin Pay Access in China
ShopeePay users from Singapore and Thailand can now make QR payments across China via Weixin Pay. The service will later expand to Malaysia, Vietnam, and the Philippines, enhancing cross-border digital connectivity.
Ant International FalconTST 2.0 AI Boosts FX Hedging for Barclays, Citi, Deutsche Bank, Standard Chartered
Ant International's FalconTST 2.0 artificial intelligence model now powers foreign exchange forecasting for four global banks. The system aims to improve cross-border payment risk management.
DBS Deploys AI to Cut Corporate Credit Assessment Time by 30%
DBS has introduced an agentic artificial intelligence tool for 1,500 global employees, aiming to reduce corporate credit memo preparation by at least 30%. The bank states the tool handles over 70 tasks, streamlining client financing evaluations.
AIA Group First-Half Profit Rises 11% on Hong Kong, China Sales
AIA Group reported an 11% increase in first-half operating profit, reaching US$4.16 billion. Strong sales in Hong Kong and mainland China, plus Southeast Asian expansion, drove the results.
DBS Hong Kong Names Ng Sier Han CEO; Paredes Retires March 2027
DBS Hong Kong appoints Ng Sier Han as its next Chief Executive Officer. He will take over from Sebastian Paredes, who retires in March 2027 after 16 years with the bank.
GCash CEO Ren-ren Reyes: Digital Tools Must Transform Philippine MSME Operations
G-Xchange Inc. CEO Ren-ren Reyes stated that digital tools for Philippine micro, small, and medium enterprises (MSMEs) must move beyond payments. They should improve overall business management and financial inclusion, he added.
Thai Bank Lending Grows 2.0% in Q2 2026, NPLs Decline
Thailand's commercial banks expanded lending for a second consecutive quarter in Q2 2026. Non-performing loans also saw a slight decrease, the Bank of Thailand reported.
Grab, Sea Digital Lending Soars, Fuels Q2 Earnings Growth
Southeast Asian tech giants Grab and Sea saw significant growth in their financial services arms during the second quarter. Lending portfolios expanded sharply, driving increased earnings contributions for both companies.
UOB Digital Wealth Sales Grow Nearly 50% Amid Regional Expansion
UOB's digital wealth sales and transactions increased almost 50 per cent in the year to April. Regional expansion and client comfort with online investing drove this growth.
Visa, UMSI Launch Phone Payments for Philippines SMEs
Visa and USSC Money Services Inc. (UMSI) introduced a new payment solution in the Philippines. Small businesses can now accept contactless card payments directly via NFC-enabled smartphones, eliminating traditional point-of-sale terminals.
Yuno Secures US$45 Million Series B, Gulf Investors Back Expansion
Payments infrastructure firm Yuno has closed a US$45 million Series B round. Gulf investors participated, reinforcing Yuno's regional expansion strategy and recent regulatory wins in Saudi Arabia. The funding will accelerate Yuno's path to profitability.
Aspire Adopts Flagright AI for Enhanced Compliance
Singapore-headquartered fintech Aspire has integrated Flagright’s AI technology to bolster its financial crime compliance, enhancing monitoring and risk controls for its 50,000+ business clients.
India's Irdai Pitches Public Register for Insurance Seller Accountability
India's insurance regulator, Irdai, proposes a public register to identify individual policy sellers, aiming for greater accountability in mis-selling. However, an analyst suggests this approach overlooks systemic incentive issues.
FIS Launches Digital One Commercial to Unify APAC Bank Operations
Financial technology firm FIS has launched its Digital One Commercial banking platform across Asia-Pacific. This system allows banks to serve diverse business clients without replacing core technology, integrating multiple financial services.
Thailand Central Bank Steps Up Non-Bank Financial Scrutiny
Thailand's central bank will increase oversight of non-bank lending and payment services. This aims to protect consumers and prevent illicit financial transactions, Governor Vitai Ratanakorn stated.
Singapore Digital Banks: GLDB, Trust Bank Reach Profitability
Two of Singapore's five digital banks, GLDB and Trust Bank, achieved profitability in FY2025 and early 2026, according to the 2026 Singapore Digital Banking Report. Their success stems from distinct client-focused strategies.
HSBC Names Tsang, Zhang Co-CEOs for Insurance After Moncreiffe Exit
HSBC has reorganised its global insurance division, appointing two Asia-based executives as co-CEOs. This follows the unexpected resignation of former global insurance chief Edward Moncreiffe.
Hanwha Life Overseas Profit Nears 2025 Full-Year Level in H1
Hanwha Life Insurance’s overseas operations generated 103 billion won net profit in H1 2026, almost matching its entire 2025 foreign earnings. This demonstrates the South Korean insurer’s diversification strategy is yielding results, with strong contributions from Vietnam, the US, and Indonesia.
Singapore MAS Eases Family Office Tax Rules, Heightens AML Checks
Singapore's central bank eased tax incentives for family offices from August 1, simplifying hiring and investment criteria. It simultaneously tightened scrutiny on wealth sources.
Southeast Asia Lenders Use AI to Reach Unbanked, FICO Data Shows
Over 70% of Southeast Asian adults lack full banking access, representing a significant credit market. AI-driven credit decisioning helps lenders assess these "credit-invisible" borrowers, expanding financial inclusion and unlocking billions in revenue.
GCash, Fuse Financing Train 200+ Philippine MSMEs in Digital Finance
GCash and Fuse Financing conducted a financial literacy programme in Cebu for over 200 micro, small, and medium enterprises (MSMEs), focusing on digital tools and responsible lending.
DBS, OCBC Post Strong H1 2026 Results; UOB Continues Buybacks
Singapore's largest lenders, DBS and OCBC, delivered solid first-half 2026 financial results. Their performance, alongside UOB's, stabilised market sentiment despite rich valuations, driven by wealth management and asset growth.
Franklin Templeton Reshuffles Leadership, Boosts Asia Focus
Franklin Templeton appointed Rene Buehlmann as Asia Pacific Head and Elizabeth Hogbin as Global Product Head. The asset manager also repositioned its global client group, prioritising Asian markets and exchange-traded funds (ETFs).
SBI Q1 FY27 Profit Up 10% on Margin Growth, Credit Expansion
State Bank of India (SBI) reported a 10% increase in Q1 FY27 net profit, reaching ₹21,121 crore. Stronger net interest margins and credit expansion drove the earnings. While asset quality remains sound, the bank's current valuation requires sustained returns for further share price appreciation.
LuLu Exchange Streamlines Multi-Currency Cards with Stitch Platform
UAE-based LuLu Exchange adopted Stitch’s unified platform to manage its multi-currency card programme. This move simplifies transaction processing, foreign exchange, and settlement, addressing complexities driven by rising cross-border payments.
APAC Firms Want AI Traceability, Most Lack Audit Trails
Nearly all Asia-Pacific companies seek to trace artificial intelligence (AI) decisions to human accountability. However, a Sumsub report reveals only 38% possess tamper-proof audit trails for this purpose, creating significant regulatory and operational risks for businesses deploying AI.
DBS, OCBC Upgrade Outlooks; UOB Cautious on Fees After Q2 Results
Singapore's three largest banks reported Q2 earnings, with DBS and OCBC revising full-year forecasts upwards. UOB, however, adopted a more conservative stance, particularly on fee income. Wealth management remained a primary earnings driver for all three lenders.
HSBC US$1 Billion Buy-Back Misses Estimates, Shares Fall 2.5%
HSBC Holdings announced a US$1 billion share repurchase, its first since October. This amount fell below market expectations, causing shares in Hong Kong to drop 2.5%. The lender reported strong second-quarter profits, but prioritises capital for dividends and loan demand.
UOB Sells Asset Management Arm to Allianz Global Investors for S$555 Million
UOB will divest its asset management division to Allianz Global Investors for S$555 million. The agreement also establishes a long-term distribution partnership, sharpening UOB's wealth advisory focus across Asia.
Singapore FinTech Association Unveils Payments Conduct Code
The Singapore FinTech Association (SFA) introduced a voluntary Payments Industry Code of Conduct. This framework establishes professional standards for payment service providers (PSPs) in Singapore, aiming to boost transparency and ethical dealings within the sector.
HSBC H1 2026 Pre-Tax Profit Rises 23% as Asia Operations Drive NII
HSBC reported a 23% increase in first-half 2026 pre-tax profit, reaching US$19.5 billion. Higher net interest income and wealth fees drove the gains. The bank also raised its full-year net interest income outlook.
TNG Digital Revenue Shifts Beyond Payments, Malaysian E-Wallet Diversifies
Malaysia's largest e-wallet, TNG Digital, now generates over half its revenue from non-payment services. This strategic pivot, according to CEO Alan Ni, redefines the company's business model beyond traditional transactions.
HSBC Resumes US$1 Billion Share Buyback After 27% H1 2026 Profit Climb
HSBC announced a US$1 billion share buyback, following a 27% rise in first-half 2026 profits. This move demonstrates confidence in its ongoing strategic restructuring, focusing on core markets and operational streamlining.
Grab's Q2 2026 Profit Jumps 620% to US$252 Million, Full-Year Guidance Lifted
Singapore-based Grab reported a Q2 2026 profit of US$252 million, a 620 per cent increase from the prior year. Revenue also grew 22 per cent to US$997 million. The superapp platform raised its full-year revenue and adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) forecasts, citing strong user engagement and segment performance.