Business

Digital products in banking: Walking through the creation process with Nullgravity’s Igor Pyatnytskyy

On the path to digitalisation, financial institutions stumble upon perceptional obstacles — delusions, fears and conservatism steal the chance of being innovative. VP of Business Development at digital partner & product development company Nullgravity Igor Pyatnytskyy shares his expertise, and sheds light on digital product creation. Information technologies have had an immense influence on the way people think. The human brain …

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The exponential growth of the online lending industry

In recent years, online loans have increasingly become popular, with more borrowers opting for more convenient alternatives to the services offered by traditional banking institutions. In 2015, the online lending industry was close to hitting the $50 billion mark, and by 2020, one out of five SMEs is estimated to become dependent on alternative lenders. But what has spurred the …

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34% e-commerce consumers in Southeast Asia are unhappy with delivery experience

Despite being the fastest growing e-commerce region with over 62% Compound Annual Growth Rate (CAGR) growth over the last 3 years, delivery continues to be a challenge in Southeast Asia, a new survey by Parcel Perform and iPrice Group reveals. The survey was conducted with 80,000 e-commerce consumers across Singapore, Malaysia, Vietnam, Thailand, and Indonesia by Parcel Perform, the leading …

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High net worth individuals and companies begin relocating assets from Hong Kong to Singapore following unrest over extradition Bill

As the political storm unfolds between the government of Hong Kong and the city’s denizens – particularly members of civil society – over the former’s divisive extradition Bill, the mega-wealthy are moving their assets elsewhere, including to Singapore. Financial Times reported Thu (20 Jun) that according to an executive vice-president from the Singapore Stock Exchange (SGX), Hong Kong’s Securities and …

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DBS Foundation Social Enterprise Grant 2019 opens for submissions

DBS Foundation, the first foundation in Singapore dedicated to championing social entrepreneurship, has launched its 2019 cycle of the DBS Foundation Social Enterprise (SE) Grant. Applications submitted by 31 July 2019 will be evaluated in this cycle (August to September 2019), and successful applicants can expect to receive between SGD 50,000 and SGD 250,000 grants in November 2019. Social entrepreneurs …

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MAS issues Prohibition Orders against former representative of UBS AG for dishonest conduct

The Monetary Authority of Singapore (MAS) has issued 3-year prohibition orders (POs) against a former representative of UBS AG, Singapore branch (UBS) for forging documents and falsified company emails during his employment with UBS. The authority stated that under the POs, Mr Paris Michele is prohibited from performing any regulated activity under the Securities and Futures Act (SFA) and providing any …

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Singapore seen as one of the easiest countries to do business in Asia

Based on a report by TMF Group, a provider of international administrative services, Singapore is ranked the sixth easiest place to do business in Asia. The Global Business Complexity Index, which compares key administrative and compliance demands across 76 jurisdictions worldwide, found only Thailand, South Korea, Japan, Hong Kong and Taiwan provided a more straightforward environment for firms looking to …

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Visa introduces contactless payment for public transport in partnership with LTA’s SimplyGo initiative

Commuters taking public transport in Singapore will now have the option to tap their Visa contactless cards or compatible mobile devices at MRT stations or buses as a part of the global payment system’s partnership with the Land Transport Authority under the SimplyGo initiative. Covering 30,000 contactless payment acceptance points worldwide, multinational banks such as Bank of China, CIMB, Citibank, …

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