The blockchain trial was initiated as part of the Australia-Singapore Digital Economy Agreement to make cross-border trade simpler between the two countries.
In improving the Philippines’s payroll sector, one of the banks had introduced a new software product that allows eligible employees to receive a cash advance on their upcoming salary credits.
The nation has been conducting trials for digital currency as it offers better data, increases consumer efficiencies and analytics, enhances monitoring ability and gives yuan greater utility.
Singapore fintechs have had a stellar year so far with a total of 72 deals amounting to US$614.2 million being transacted from January to June this year.
The HK$36 billion initiative was introduced by the Financial Secretary in the February budget blueprint to stimulate spending in local businesses and lays the groundwork for Hong Kong's transformation to a digital economy.
Nanyang Technological University and other financial institutions in Singapore conducted a research project to develop an AI and machine learning model to detect patterns in data and complex transactions that could be signs of money laundering.
The system, e-RUPI, is a cashless and contactless instrument for digital payments that acts as an e-voucher based on a QR code or SMS string that is delivered to the beneficiary’s mobile phone.
A Philippine bank recently provided the country's MSMEs with its new one-stop hub for financial transactions, which allows businesses to deal with payment processes with their customers.
OpenGov TV Speaker Panel – Open Banking
Part 2 of our OpenGov TV Speaker Panel series with OneConnect. Listen to experts talk about Open Banking and how it can impact the banking world!