Financial Services
DBS launches online remittance service for non-customers
Users can send money to Australia, Hong Kong, India, Indonesia, Malaysia, Philippines, the UK, and the US.
DBS launches online remittance service for non-customers
Users can send money to Australia, Hong Kong, India, Indonesia, Malaysia, Philippines, the UK, and the US.
Nearly 7 in 10 consumers embrace digital banking
Almost half believe non-banks provide better assistance than traditional banks.
Chart of the Day: Banks' nonperforming loan exposures are higher outside Singapore
In Indonesia alone, UOB and OCBC have 4.9% and 3.7% NPL exposure.
Singapore reserves grew 10.52% to US$286.96b
Gold and forex reserves expanded 3.8% to $373.78b.
Financial compliance in Singapore is the ninth easiest in the world
But Budget 2018 changes could make compliance harder.
Construction firms' on-time payments to boost banks
For DBS, OCBC, and UOB, nonperforming loan (NPL) ratios tied to the construction sector were 0.2%-0.8% at year-end 2017.
Bank of China and ICBC to offer PayNow
There are now nine banks using the service.
LATTICE80 opens Crypto Hub in Singapore
This followed the discontinuation of its Fintech Hub just this March.
CardUp nabs $1.7m in seed funding to revolutionise digital payments space
Users can now pay for recurring cash expenses like taxes and rent via credit card.
Meet Singapore's cryptocurrency czars
Their combined token sales proceeds hit US$381.42m in 2017.
Singapore Budget 2018 puts Singapore further ahead in asset management and Reit listing
New tax framework outlined in Singapore Budget 2018 next step in enhancing country’s position as a fund management and domiciliation hub.
Future ready: local banks lead digital charge
DBS stays ahead of the pack as it has grown and nurtured its digital team since 2009.
Chart of the Day: 3-month SIBOR up 1.51% at end-March
Fixed deposit rates from Singapore banks rose concurrently by 17-30 bps.
SGX Bond Trading takes on SGX Bond Pro general counterparty role
It replaced UBS, which was the general counterparty in its 2015 launch.
Singapore law allows creditors to avoid losses from bank failures: Moody's
Buffers for bail-ins only comprise 1%-2% of Singapore banks’ assets.
MAS raises April Singapore savings bond size to $200m
It cited two bond issues in 2018 that were oversubscribed for over $171m.
MAS writes guide for financial institutions' ethical AI use
The guide is targeted for completion by the end of 2018.
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