Tookitaki Releases Whitepaper on Successful Deployment of AI-powered Anti-Money Laundering (AML) Solution in Production; with Contribution from Celent
19 March 2021 (SG) – Tookitaki, which provides Compliance Platform as a Service (CPaaS) to global financial institutions, today announced the release of their whitepaper, titled “Powering the Next Generation of AML Technology with AI”, with contribution from Celent. The whitepaper introduces Tookitaki’s Anti-Money Laundering Suite (AMLS) Smart Alert Management module, which saw an improvement of 12x in...
Western Union Wins FinTech Breakthrough Award for “Consumer Payments Innovation”
19 March 2021 (MY) – The Western Union Company, a global leader in cross-border, cross-currency money movement and payments, today was named winner of the “Consumer Payments Innovation Award” in the fifth annual FinTech Breakthrough Awards for 2021. The company’s innovative cross-border money transfer solution was awarded for its ‘plug and play’ technology used by a growing number of financial institutions to offer seamless,...
Bank Islam Gears Up Its Digital Bank, Announcing Strategic Partnerships With Mambu, Experian And Pod
11 March 2021 (MY) – Bank Islam Malaysia Berhad (“Bank Islam”) is charging ahead as a value-based intermediary to create a platform-based solution so more people can have access to Shariah-compliant products which are based on risk-sharing and fairness. Bank Islam, through its new division, Centre of Digital Experience (“CDX”), has been actively laying the foundation to set up a 100% digital bank built on a flexible platform...
Mastercard Accelerates Deployment of Digital First Solutions
10 March 2021 (MY): Mastercard is expanding the Engage platform, offering customers easy access to a growing network of qualified technology and fintech partners that can quickly deploy Mastercard Digital First solutions. These solutions will enable customers to provide entirely digital payment experiences for consumers, from acquisition and card usage to management and engagement, with a physical card option. “The expansion of...
Western Union Expands Global B2B Payments Platform
25 February 2021 (MY) – Western Union Business Solutions, the payments arm of the Western Union Company (NYSE: WU), a leader in cross-border, cross-currency money movement and payments, announced the expansion of its global capabilities, bringing faster and more transparent payment services to business customers. Western Union Business Solutions has integrated SWIFT Global Payment Initiative and increased its international...
TransferWise Rebrands To Wise, Enters New Phase Of Growth In Malaysia
23 February 2021 (MY) – TransferWise has announced its rebranding to Wise , and the appointment of local country manager Ms Lim Paik Wan. Originally launched in 2011 as a money transfer service for people, the company has expanded to build a cross-border payments network helping to make international banking cheaper, faster and more pleasant for its 10 million customers. The company processes £4.5 billion (RM25.2 billion) in...
Mastercard Launches One-Stop Resource Site To Support Digital Transformation Of Smes In Asia Pacific
6 February 2021 (MY) – To help small and medium enterprises (SMEs) recover from the pandemic and prepare for the future, Mastercard has launched the Digital Acceleration for Small Businesses microsite across most of its Asia Pacific websites with information and resources on how to digitalize and run businesses more efficiently. As COVID-19 drives a rapid and lasting shift to e-commerce and contactless payments, the one-stop...
Visa Introduces AI-Powered Innovations for Smarter Payments
3 February 2021 (MY) – Visa Inc. has announced VisaNet +AI, a suite of AI-powered services that address long-standing challenges and pain points for banks, merchants and consumers—including delays and confusion with managing account balances and the unpredictability of daily settlement for financial institutions. VisaNet +AI comprises several innovative concepts and new value-added services, including Visa Smarter Posting and...
Finastra And HCL Partner To Provide Digital Treasury As A Service In The Cloud
27 January 2021 (MY) – Today Finastra, one of the world’s largest fintechs, announced a partnership with HCL Technologies, a leading global technology company, to provide treasury management technology in the cloud to smaller banks across Northern Europe, North America, India and the Philippines. The partnership brings to market a new Digital Treasury as a Service offering, which enables banks to manage their treasury operations...
50% Of Malaysians Cite High Costs Of Remittances A Challenge During COVID-19
27 January 2021 (MY) – A whopping 50% of Malaysians find the high cost associated with remittances to be a challenge, with almost half (48%) reducing the amount sent and more than one-third (35%) completely giving up on sending a remittance. These findings were from a survey commissioned by global technology company TransferWise to better understand how the COVID-19 pandemic has affected the remittance habits of those living in...
Mambu Raises €110 Million in Funding Round Led by TCV
8 January 2021 (SG) – Mambu, the market-leading SaaS banking platform, today announced its latest funding round of €110 million in new capital. This round was led by TCV, whose investments include Netflix, RELEX, Spotify, and WorldRemit. Additional investment was received by Tiger Global and Arena Holdings, as well as existing investors Bessemer Venture Partners, Runa Capital and Acton Capital Partners. The new round brings the...
BNM Releases Policy Document on Licensing Framework for Digital Banks
5 January 2021 (MY) – Bank Negara Malaysia has issued the Policy Document on Licensing Framework for Digital Banks (Policy Document) following a six-month public consultation. The Bank wishes to convey its appreciation on the feedback provided by various parties during the consultation period. The licensing framework for digital banks aims to enable the innovative application of technology to uplift the financial well-being of...
Mastercard And Pine Labs To Expand “Pay Later” Instalment Solution To Five Southeast Asian Markets In Early 2021
9 December 2020 (MY) – Mastercard and Pine Labs will launch their integrated “pay later” solution in five Southeast Asian markets early next year to offer consumers the flexibility of zero-interest instalments on purchases, expand business for merchants and connect banks, fintechs, payment gateways and device makers to a rapidly growing financing alternative. By combining the expertise and technology assets of Mastercard and...
Cardup Launches Operations In Malaysia And Announces Visa Partnership
2 December 2020 (MY) – CardUp, the digital credit card enablement platform, has launched a new solution that enables businesses to instantly access credit on international payments at competitive rates. While the global remittance market is dominated by bank to bank transfers – cardo enables these payments to be made via credit cards to overseas suppliers who do not accept card payments. This means businesses can make use of...
New Report Reveals How The COVID Crisis Could Set Back A Generation Of Women In Business
25 November 2020 (MY) – Women across the world have been disproportionally impacted by the COVID-19 pandemic – a staggering 87% of women business owners say they have been adversely affected. Overrepresentation in sectors hardest hit by the economic downturn, the pronounced digital gender gap in an increasingly virtual world, and the mounting pressures of childcare responsibilities are only a few factors that have left women...
Western Union Bolsters its Global Digital Cross-Border Payments Leadership
25 November 2020 (MY) – Western Union has announced it has expanded real-time digital payout capabilities into 100 countries reaching billions of bank accounts. For decades, Western Union already paid out in minutes into 550,000 agent locations in 200 countries and territories. The goal to expand real-time payout into bank accounts, wallets and cards was announced at the 2019 Investor Day where the company said it would reach...
Visa Commercial Pay Brings Virtual Card Capabilities to Clients and Partners Worldwide
25 November 2020 (MY) – Visa and Conferma Pay have announced a strategic partnership to launch Visa Commercial Pay, a suite of B2B payment solutions, to help improve cashflow for businesses and eliminate outdated manual processes. Virtual commercial cards have never been more necessary than today. Remote workers are turning to personal cards to pay for corporate expenses, buyers and suppliers need more efficient ways to pay and...
Raffles Hotel Singapore Takes its Legendary Guest Experience to the Next Level with Adyen
24 November 2020 (SG) – Raffles Hotel Singapore has appointed Adyen, the global payments platform of choice for many of the world’s leading companies, as its preferred payments partner to deliver a holistic and frictionless hospitality experience within and beyond its iconic property walls. Always committed to being relevant and ever evolving to adapt to the changing needs of today’s traveller, the iconic Raffles...
Mambu To Power Digibankasia’s New Digital Bank Uno, Bringing Greater Financial Inclusion To The Philippines
24 November 2020 – Leading cloud banking platform Mambu has been selected by DigiBankASIA as the technology foundation of its new South East Asia focused full service digital bank UNO. DigiBankASIA has selected the Philippines for its initial rollout, and is currently working with the regulators to obtain the necessary license. Currently, approximately 70% of the population of the Philippines is considered ‘unbanked’. Manish...
Mastercard Launches AI-Powered Solution To Protect The Digital Ecosystem
10 November 2020 – Mastercard has announced Cyber Secure, a first-of-its-kind, AI-powered suite of tools that allows banks to assess cyber risk across their ecosystem and prevent potential breaches. With these capabilities, banks can identify and prioritize threats and vulnerabilities throughout their cyber environment. Additionally, acquiring banks can help merchants understand their own cyber risk, preventing hundreds of...
