Technological innovations in fintech are continuing to evolve, as we reach the halfway point of 2023. Gen Z is leading the way for fintech service adoption as physical cash continues to diminish, whilst digital wallets, robust blockchain offerings and super apps grow in popularity.

FOMO Group, a Singapore-based financial holding group, today announces that it has completed the acquisition of CapBridge Pte Ltd (CapBridge), a capital markets service and asset custody firm, and 1X Exchange Pte Ltd (1exchange), a private securities exchange company. With approval from the Monetary Authority of Singapore (MAS) on the acquisition, FOMO Group has secured Capital Markets Services (CMS) License and Recognized Market Operator (RMO) License in Singapore.

We’re excited to announce the launch of our new Best Execution solution, designed to help investment managers worldwide address regulatory requirements while reducing cost of ownership. The solution streamlines and automates the process for gathering quantitative and qualitative data needed to support clients’ best execution analysis and reporting.

Cordada, a private debt platform that caters to lenders and fintechs serving small and medium-sized enterprises (SMEs) in Latin America, has announced its partnership with Thought Machine. Cordada will use Thought Machine's cloud-native core banking platform, Vault Core, to develop highly personalised financial products for SME lenders and fintechs across Latin America. Cordada will use Vault Core as SaaS hosted on the Google Cloud Platform (GCP).

In an exciting collaboration, STARZPLAY, one of the region's top three subscription video-on-demand (SVOD) services, has announced a strategic partnership with TPAY, the leading payments provider in the Middle East, Turkey, and Africa (META). With this partnership, customers will be able to make their subscription payments using their mobile phone numbers, to access STARZPLAY’s premium sports and entertainment content. 

The adoption rate of financial technology in the Philippines among the population aged 15 years old and over through mobile apps may increase to 72.2% or 59.3 million users by the end of 2023, according to a new report from consumer credit service Digido.

The maximum growth of this indicator is expected to come from the Payments & Transfers segment (+17.6%), followed by E-Wallets (+4.9%), Digital Banking (+4.3%), Digital Investments (+3.7%) and Digital Lending (+0.9%).

Homegrown humanitarian organisation, Singapore Red Cross, has included cryptocurrency as a newly-accepted form of donation, partnering with Triple-A, the first crypto payment gateway licensed by the Monetary Authority of Singapore (MAS), ahead of Singapore’s National Day. 

Appian Connected Servicing provides complete visibility into servicing clients, allowing both internal constituents and their clients to view, identify, request and monitor the state of request. This solution addresses account management challenges and more, orchestrating and automating tasks throughout the request lifecycle, integrating systems and data, and providing a complete view of account history and changes.