Ho Chee Wai (何志伟)

🚀 Singapore Strengthens Its Position as a Digital Asset Hub: OKX Secures Key Licence OKX Singapore has officially secured a Major Payment Institution (MPI) licence from the Monetary Authority of Singapore, enabling the platform to offer enhanced digital payment token and cross-border money transfer services. This approval marks a significant milestone in Singapore's journey to becoming a leading digital asset hub. Former Grab executive, Ms. Gracie Lin, now leads OKX Singapore as CEO, bringing nearly two decades of experience to her new role. With this licence, OKX joins a select group of licensed crypto exchanges in Singapore, further expanding its influence in the global crypto market. Ms. Lin is set to focus on compliance and product innovations, including the expansion of the platform’s token offerings and the introduction of SGD-crypto on-and-off-ramp services. OKX's commitment to the digital assets ecosystem remains unwavering, contributing to Singapore's status as a world-class digital asset hub. Source: The Straits Times, 3 Sept 2024 For further information or to get in touch with our panel of experts to see how they can assist you with your digital payment solutions, please contact us at [email protected] or for a speedy response, contact us via our Express Advomi WhatsApp service number at +65 9610 4618 #DigitalAssets #CryptoExchange #SingaporeFinance #OKX #FintechNews #InnovationLeadership #MAS #Blockchain

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Beware if you are asked for an OTP and you did not receive it. Since Friday night, I could not receive OTP for a messaging app. I jumped to the conclusion that it is due to the application. On Sunday morning, I discovered that I could not receive any incoming calls and SMS. Outgoing was OK. Called the carrier for help. After 1 director, 4 duty managers, 5-6 call agents, my issue has not be resolved. On the second call, they knew that my calls and SMS has been diverted to another carrier and number. Callers told me some one answered and hung up. The carrier said it is a complicated issue. Made a police report, disabled those apps that I can. Good to see PM highlighting the weakness of OTP but hoping to see action by the regulators as well as the carrier fixing my issue. To the Director at the contact center, as at midnight, no update from you. What is the point of exchanging numbers. https://lnkd.in/ebrm5PxM

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SCB Mobile Banking App Fund Transfer Redesign 🔶 The time and effort were all worth it when I finally saw it come to life. Contributing to the team was both challenging and incredibly fun. This project focused on improving the Standard Chartered Bank (SCB) Mobile Banking App to make it easier to use and fix key issues. We worked on solving problems like missing important features on the homepage, hard-to-find menus, and a slow fund transfer process. The redesign added important functions to the homepage and introduced a clear 'Send Money' button. We also combined different fund transfer options, including BEFTN, NPSB, and RTGS, to make the process. Shoutout to my fellow teammates! Nayem Islam, Md Al Amin Rasel, Towhidul Isalm Firose, Sakib Reza, and Shohag Hossan for their constant effort. Check out the full UI/UX case study here: https://lnkd.in/gXkpba5V I’d love to hear your thoughts and feedback. Cheers!

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💥 OKX Triumphs in Singapore with Major Payment License Acquisition Crypto exchange giant, OKX, has successfully secured a pivotal Payment Service Provider license in Singapore. This milestone is set to fortify OKX's presence and offerings in the Asian financial hub, signaling a bright future for crypto enthusiasts in the region. 🔑 Key Highlights: 1. ✅ Securing the Payment Service Provider license positions OKX at the forefront of crypto financial services, enabling them to operate legally and offer a broader range of services. 2. 📈 Singapore's strategic position as a financial hub amplifies OKX's potential to attract more users and investors, bolstering regional crypto adoption. 3. ⚖️ This move also emphasizes the importance of regulatory compliance in fostering trust and stability within the crypto ecosystem. 💬 This achievement signifies a stronger foothold for OKX in a region renowned for its progressive stance on digital assets and blockchain technology. Are you as excited as we are about this development? What are your thoughts on the future of crypto regulation and adoption in Asia? Let's discuss! #Crypto #Blockchain #OKX #Singapore #Fintech #Payments #CryptoRegulation Read More:

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✨Gen 🇦🇮 is reshaping the way we interact with technology and GIA is proud to be a supporting industry association of the #ProjectMindforge consortium alongside our member insurers, and other industry collaborators. We are excited to be part of Singapore’s financial sector’s journey in responsible use of AI and the development of an AI governance ecosystem. Phase 2 of Project Mindforge was launched at the Singapore FinTech Festival and will draw on existing work and the expertise of Singapore’s ecosystem to support AI governance in a comprehensive, interoperable manner. 🔗Learn about Project Mindforge here: https://lnkd.in/gtcF5mQU #GIAsg #GenAi #CreatingTheFuture

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Athena Fintech Solution JSC secures AU$25 for its series B #Athena has successfully raised AU$25 million in its Series B funding round, spearheaded by Square Peg with additional commitments from Hostplus and Airtree. This significant investment marks a pivotal moment for Athena as it continues to revolutionize the home ownership market in Australia. Founded by Nathan Walsh, CEO, and Michael Starkey, COO, Athena is on a mission to make home ownership more accessible and affordable, directly challenging the traditional mortgage giants. By leveraging cutting-edge technology, Athena simplifies the mortgage application process, eliminates hidden fees, and offers faster loan repayment opportunities. This innovative approach not only provides consumers with better rates but also removes costly intermediaries, ensuring sustainable lower rates for homebuyers. Athena’s unique business model extends beyond traditional lending by partnering with superannuation funds and other institutions, inspired by successful models in the Netherlands. This strategy not only benefits consumers with enhanced pricing but also delivers improved returns to investors. Early results from Athena’s pilot programs are promising, showcasing significant customer savings and enabling families to reduce their mortgage terms, thereby enjoying life-changing financial benefits. The article on FinTech Global in the first comment.

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IMO, this is the most powerful feature but can be a double edged sword too if it is implemented with wrong intention..

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 Mobile fintech app usage in Southeast Asia has seen a dramatic increase, with penetration rates tripling since 2019, according to a recent report by UnaFinancial. As of May 2024, 49% of the region’s population is using mobile fintech apps, and this figure is projected to climb to 60% by 2030. Leading the charge is the Philippines, where mobile fintech penetration has reached 63% and is expected to grow to 72% by the end of the decade. Malaysia and Indonesia also show strong adoption rates at 55% and 49%, respectively, with Indonesia experiencing the highest growth rate in the past five years, rising from 9% in 2019 to 49% in 2024. The most popular fintech app segments in the region are digital wallets and payments, which account for 35% of the market, followed by mobile banking at 18%. Lending apps have shown the fastest growth, increasing from 1% in 2019 to 5% in 2024. However, investing and cryptocurrency trading apps remain less popular, each with only 2% penetration, likely due to global economic uncertainties. #FinTech #digital #Wallets #Payments #Lending

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Thunes and SCB – Siam Commercial Bank Strengthen Alliance to Enhance International Remittance Services via SCB EASY App Thunes’ Chief Revenue Officer for the Middle East & South Asia, Simon Nelson, commented: “We are proud to strengthen our alliance with Siam Commercial Bank, a longstanding Member of the Thunes Direct Global Network. As the Smart Superhighway to move money around the world, Thunes is trusted by its Members to make payments to over 7 billion mobile wallets and bank accounts in over 130 countries and 80 currencies. Our global infrastructure, combined with our Fortress Compliance Platform and SmartX Treasury System, enables SCB customers with transparent, instant and dependable international money transfers.” https://lnkd.in/eB5SAWpQ Thanawatn Kittisuwan Shaheen Budhrani Chloé Mayenobe Floris de Kort Bogdan Dinu Nicharee Kittikhunsiri DISSABHAT JIRASAPBHAKARN Kris Chantanotoke Voranuch Dejakaisaya #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Singapore banking group OCBC has announced to invest $387 million (S$500 million) to setup a new innovation hub in Punggol Digital District (PDD)partnering with Singapore Institute of Technology (SIT), with target completion in 2027 Q1.  Read - https://lnkd.in/gb9SXmM9 follow Caproasia | Driving the future of Asia Singapore banking group OCBC has announced to invest $387 million (S$500 million) to setup a new innovation hub in Punggol Digital District (PDD)partnering with Singapore Institute of Technology (SIT), with target completion in 2027 Q1.  Ms Helen Wong, Group CEO, OCBC, said: “I am excited to share the two important projects in Punggol Digital District. One, OCBC’s latest and second largest office premises of 430,000 sq ft in Singapore. The largest is our head office at Chulia Street. Two, OCBC’s partnership with Singapore’s first University of Applied Learning, developing future-ready graduates and innovating with industries. JTC’s vision for Punggol Digital District – to nurture an ecosystem that fosters collaborative partnerships and innovation – resonates with us most. Collaboration and innovation are critical to the success of a company and the community at large. These traits have anchored OCBC’s 92-year journey. I am confident our partnerships will chart new frontiers and create long-term value for everyone – for now and beyond.” Prof Chua Kee Chaing, SIT President, said: “We are delighted to strengthen our partnership with OCBC, and witness the vision of the SIT Punggol Campus becoming interconnected with industry come alive. Our utmost appreciation to OCBC, a strategic partner of SIT since 2018, in enhancing the education and career readiness of our students. OCBC’s endowed donation to SIT will go towards the provision of authentic, real world experiences for our students to thrive in the dynamic financial industry and nurture a stream of ready talent pool to drive Singapore’s economy.” Mr Tan Boon Khai, Chief Executive, JTC, said, “At PDD, JTC is cultivating dynamic ecosystems that drive innovation and industry growth, through bringing multiple stakeholders together to collaborate in a smart and sustainable environment. As one of Singapore’s key local banks, OCBC’s entry into PDD reinforces this value proposition, as it leverages PDD as a launchpad for new technologies development and capabilities building in the region. The PDD Living Lab Programme has facilitated a new partnership between two key ecosystem partners to develop future ready tech talents and provide opportunities for co-innovation and test bedding, and we believe more of such partnerships will continue with new anchors coming on stream at PDD.” OCBC, Singapore Institute of Technology, JTC Corporation

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Validus, a portfolio company of Vertex Ventures SEA and India, has secured $50 million in debt financing from HSBC under the ASEAN Growth Fund strategy. This funding will be used to support the financial inclusion of micro, small, and medium enterprises (MSMEs) in Indonesia through Validus' subsidiary, Batumbu. As one of Validus' earliest investors, we are excited to see them drive growth and innovation in the digital lending space. With 64.2 million MSMEs contributing 61% of Indonesia's GDP, the potential for impact is immense. Validus aims to empower these businesses by providing more accessible financing options, enabling them to thrive and contribute to economic development. "By leveraging Batumbu's unique position as the largest and only profitable digital SME financing platform in the country, we are committed to unlocking new opportunities for businesses, driving economic growth, and enhancing financial inclusion," said Nikhilesh Goel, CEO of Validus. We look forward to supporting Validus as they continue to expand across Southeast Asia and make a meaningful difference in the lives of MSMEs. Read more: https://lnkd.in/gNeUbiNb #VertexVentures #Investment #Validus #Growth #FinancialInclusion #MSMEs

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Singapore's Qashier awarded in-principle approval for a Major Payment Institution Licence. Singapore-based FinTech startup Qashier announced that the company has been awarded in-principle approval by the Monetary Authority of Singapore (MAS) for a major payment institution (MPI) licence to offer merchant acquisition services, and domestic and cross-border money transfer services. The Payment Services Act, a framework for the regulation of payment systems and payment service providers in Singapore, was initially implemented in 2019. Companies like Qashier who have already started operations prior to the Act’s implementation were required to file an official licence, during which they will operate under the exempted framework. To facilitate transactions across Southeast Asia from 2019-2024, Qashier was exempted under the PS Act for a specified period so that it could provide services including domestic money transfers, inward cross-border money transfers, and merchant acquisitions. Source: https://lnkd.in/eqBvKMgr Sign up for more news updates like this in our daily newsletter: https://lnkd.in/eskQx7Ym #payments #apac #financialtechnology #financialservices #financialsolutions

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🚀 Big news for Malaysia's fintech landscape! DCAP Holdings, the fintech innovator driving financial inclusion, has secured strategic funding led by Gobi Partners. Founded by Sonia Ng and Wilson Kok in 2020, DCAP is on a mission to provide equitable finance to Malaysia's underserved communities using AI, ML, and data-driven insights. With this new capital, DCAP will expand its unique Lending-as-a-Service (LaaS) model, which allows traditional financiers to streamline lending processes and reach Malaysia's underbanked. Their advanced Credit Scoring Model and Mobility Hire Purchase Lending solutions are reshaping finance by providing affordable, tailored options to low-income consumers. Gobi’s investment reflects DCAP’s potential to disrupt predatory lending and support Malaysia’s growing financial inclusion movement. Exciting times ahead as DCAP continues bridging gaps and creating access for those who need it most. 🌏 https://loom.ly/D4gZPoU #e27News #Fintech #FinancialInclusion #Malaysia #AI #ML #InclusiveFinance #FinancingInnovation #GobiPartners

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FinKnight, a Malaysian fintech startup, has secured a strategic investment from First Move (by Joel Neoh and Audra Pakalnyte) and Gobi Partners Affiliate. In today's fast-paced and ever-evolving startup landscape, traditional financial practices often fall short. That's where FinKnight comes in—offering a fresh approach to startup finance, helping companies navigate complex financial challenges, optimise operations, and drive sustainable growth. Under the leadership of Lih Yen Chang, CFA, FCCA and Qi Yang Chan (former executives of EasyParcel and Signature Market), FinKnight has already made a remarkable impact, assisting over 15 startups and scaleups in just one year! #Fintech #StartupFinance #SoutheastAsia #Investment #GrowthJourney #Innovation https://loom.ly/dUn6YQo #e27News

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Taiwan's central bank is taking a cautious approach to the launch of a central bank digital currency (CBDC). President emphasized that prioritizing stability and efficiency over being the first is key. Ongoing experiments focus on different payment scenarios, a prototype platform for retail payments, and plans for tokenization technologies. Aim here to foster growth while ensuring regulatory compliance and financial system stability.

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Turning the payment infrastructure complexity of a Tier 1 bank into simplicity and power? We at OpenWay are committed to collaborating with BIDV (Bank for Investment and Development of Vietnam), Vietnam's largest bank with $72 billion in assets, to transform their fragmented card management and payment systems into a unified, high-performance digital platform. This will enable BIDV to swiftly launch innovative products, minimize costs, enhance customer satisfaction, and reduce development time. BIDV intends to overcome challenges related to outdated technologies and the complexity of managing numerous satellite applications. BIDV will leverage the top-rated #Way4 digital payment software platform to become a fully digitized, technology-driven retail bank.  The new infrastructure will streamline operations, leveraging Way4's issuing, acquiring, and switching capabilities to manage an extensive portfolio of millions of cards and thousands of ATMs and POS devices. Read more: https://bit.ly/3RD64PJ #openwaygroup #openway #payments #fintech #digitalbanking #digitalpayments #digitalbankingplatform

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Online used car platform Carro has signed a US$75m multi-currency loan from HSBC to fund the growth of its fintech arm, Genie Financial Services by Carro. Talking about the initiative, Aaron Tan, co-founder and CEO of Carro, said,“Our fintech business, leveraging proprietary data-driven lending, has been growing prudently with a loan book exceeding US$500 million and NPL below 0.5%. Securing this landmark financing from HSBC is a huge validation of our digital ecosystem-led business model. This enables us to serve the underserved consumer segment even better." Meanwhile, Amanda Murphy, head of commercial banking, South and Southeast Asia, HSBC, commented, “HSBC has a proud history and strong heritage in ASEAN of supporting entrepreneurs and scaling up businesses. We are delighted to arrange a multi-currency loan facility for Carro, through our unique US$1 billion ASEAN Growth Fund, as they grow their operations.” #marketing #partnership #funding   ------ -[Awards] MARKETECH APAC is launching its inaugural "Marketing Technology Awards" where we recognise the groundbreaking achievements in marketing technology, uniting the brands and tech organisations within the region’s marketing community. Learn how your brand can be a part of it by checking it more details HERE: https://bit.ly/3SVtoIa -[Industry Series] We have launched our latest industry initiative "E-commerce Marketing Series" where we aim to equip businesses with the latest strategies and insights to navigate the dynamic world of e-commerce, as well as discuss cutting-edge concepts, trends, and case studies shaping the future of online commerce. Learn how you can be part of this industry discussion by checking out more details here: https://bit.ly/4aiMEX4 -[Report] Discover the latest trends in business communication, and explore how mobile messaging channels are preferred by consumers to seek deeper connections with brands by checking out this report HERE: https://bit.ly/3RckF4z

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