AI patents at BofA increase 94% since 2022
Finextra
OCTOBER 23, 2024
Bank of America's artificial intelligence push has led to a 94% increase in AI and machine learning granted and pending patent applications since 2022.
2022 Related Topics 
CFPB: Consumers paid record credit card fees in 2022
Payments Dive
OCTOBER 26, 2023
"With credit card debt crossing the trillion dollar mark, we will be working to prevent bait-and-switch tactics when it comes to rewards,” CFPB Director Rohit Chopra said in a Wednesday press release.
CFPB 
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Just Published: PCI DSS v4.0.1
PCI Security Standards
JUNE 11, 2024
was published in March 2022, the PCI Security Standards Council (PCI SSC) has published a limited revision to the standard, PCI DSS v4.0.1. To address stakeholder feedback and questions received since PCI DSS v4.0
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Coffee with the Council Podcast: Help Shape the Future of Payment Security as a PCI SSC Participating Organization
PCI Security Standards
APRIL 29, 2024
At our Community Meetings in 2022, the Council announced a significant change to its Participating Organization program. Welcome to our podcast series, Coffee with the Council. I'm Alicia Malone, Senior Manager of Public Relations for the PCI Security Standards Council.
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Security and Compliance triumphs: Vodafone Idea Leads India with SOC 2 Type 2 Attestation
VISTA InfoSec
MAY 12, 2024
It must be noted that Vi was first received its SOC2 Type 1 attestation in 2022, which was also done by VISTA InfoSec. It focuses on controls related to security, availability, processing integrity, confidentiality, and privacy of data.
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Visa, Mastercard, Amex results buoyed by consumer spending
Payments Dive
JANUARY 27, 2023
The card companies said that consumer demand, including for travel, remained healthy in the fourth quarter of 2022, though growth moderated.
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Fiserv CEO compensation rose last year to $28M
Payments Dive
APRIL 8, 2024
Compensation for Fiserv CEO Frank Bisignano climbed 57% over 2022, as the value of stock awarded to him surged and he received a $3 million cash bonus.
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Chip maker launches probe into data theft amid cybersecurity concerns
VISTA InfoSec
JULY 1, 2024
A cybercriminal group called RansomHouse stole 450GB worth of data from the company in 2022 Repercussions of the data breach The data breach is considered a blow to AMD and to the chip industry as a whole. This is not the first time that AMD has suffered a cyber-attack.
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Tap, click and pay: how digital payments seize the day
Finextra
FEBRUARY 18, 2024
The use of digital payments around the world continued to grow in 2022, while the number of cash withdrawals and small-denomination banknotes declined, according to BIS figures.
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Podcast: JPM connects to French payments network Cartes Bancaires
Bank Automation
AUGUST 20, 2024
The bank acquired Renovite in 2022 and […] Morgan, tells Bank Automation News on this episode of “The Buzz” podcast. The bank is tapping cloud-based Renovite to build the connection to the network, Lozanoff says.
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CMA confirms full completion of Open Banking Roadmap, unlocking a new era of financial innovation
Open Banking
SEPTEMBER 9, 2024
Danske Bank delivered the functionality in October 2022 and was released from its MRO process in May 2023.
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E-commerce in Southeast Asia Soars with Thailand and Vietnam Leading in Growth
Fintech News
AUGUST 5, 2024
billion in 2022 to US$19.3 of the total GMV of the region in 2023, down from 54% in 2022. billion in 2022 to US$55.1 The feature was first launched in the Indonesian market in February 2021, before expanding to Malaysia, Thailand, Vietnam and the Philippines in April 2022, and entering Singapore two months later.
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Operating Costs Drive GXS Bank Losses Higher Despite Tripling of Total Income
Fintech News
JUNE 23, 2024
million in 2022. In previous funding rounds, Grab injected S$137 million in July 2022 and about US$75.8 million in April 2022. Since its launch in August 2022, GXS Bank has targeted both consumers and businesses, introducing savings pockets with 2.68% interest per annum and a main account with 2.38% interest.
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Revolut Singapore Doubles Revenue in 2023, Sees 77% Growth in Users
Fintech News
JULY 2, 2024
Neobank Revolut’s annual revenue in Singapore more than doubled compared to 2022, contributing to the group’s financial performance. billion in 2022 to US$2.2 Profit before tax reached US$545 million, and net profit grew to US$428 million, up from US$7 million in 2022. million in 2022 to 12.95 billion in 2023.
Southeast Asia’s Digital Financial Services Revenues Soared To US$ 33B in 2024
Fintech News
NOVEMBER 11, 2024
Digital financial services (DFS) in Southeast Asia (SEA) are experiencing a remarkable growth trajectory, with projected revenues soaring by 22% from US$22 billion in 2022 to US$33 billion in 2024, a new report by Google, Temasek and Bain and Company says. fold between 2022 and 2024 to US$11 billion.
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Top Funded Fintech Startups in Indonesia in Early 2024
Fintech News
FEBRUARY 20, 2024
In 2022, the country was home to 993 active fintech companies, representing about 25% of all fintech ventures operating across the ASEAN region, data from a 2022 report by the United Overseas Bank (UOB), PwC Singapore and the Singapore Fintech Association (SFA) reveal. billion to US$15 billion during the period.
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Vietnam and Cambodia Launch Cross-Border QR Payment Linkage
Fintech News
DECEMBER 11, 2024
The pilot project, which began in mid-2022, has been completed as scheduled. The State Bank of Vietnam (SBV) and the National Bank of Cambodia (NBC) announced the successful implementation of a cross-border QR payment system between the two countries.
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MariBank Reports S$10.1 Million Income in 2023, But Losses Widen to S$51.9 Million
Fintech News
JULY 17, 2024
million in 2022. MariBank began operations in July 2022, initially offering digital banking services to select members of the public. In December 2022, Sea Ltd injected around US$56 million into MariBank, bringing the total capital infusion to about US$358 million since 2021, according to DealStreetAsia.
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Ant Group’s 2C2P Reduces Losses by 83% in 2023
Fintech News
JULY 28, 2024
In June 2022, Ant Group acquired a majority stake of over 80% in 2C2P , valuing the firm at more than US$590 million. million in 2022, with the majority of this income derived from services. million spent in 2022. million in 2023, a significant improvement compared to the previous year. million from US$124.5
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dtcpay Announces Shift to Stablecoin-Only Payment Services by 2025
Fintech News
DECEMBER 3, 2024
These include the 2022 SFF Global Fintech Award, 2023 Best Cryptocurrency Payment Company by APAC Insider, 2024 PayTech of the Year and Disruptor of the Year at the Asia Fintech Awards, and a 6th place ranking on Hoptrail’s Global Anti-Money Laundering (AML) Leaderboard.
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Bitkub to Pursue IPO in 2025, Targets Expansion in Southeast Asia
Fintech News
APRIL 28, 2024
In 2022, Siam Commeercial Bank had scraped plans to acquire 51% of Bitkub’s shares in a deal worth over US$500 million which valued the crypto exchange at US$1 billion. Looking ahead, Bitkub is exploring potential dual listings in international markets such as Hong Kong or the U.S.
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5 Lessons APAC Digital Banks Can Learn from Nubank’s US$1B Profitability Journey
Fintech News
MAY 28, 2024
The Brazilian digital bank turned a net loss in 2022 into a US$1 billion net profit in 2023, with revenues exceeding US$8 billion. According to a 2022 report by IDC , the big data and analytics market in the Asia Pacific region is expected to grow at a CAGR of 19.6% from 2022, reaching US$42.2 billion in 2023. trillion by 2025.
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FinovateFall 2024 Best of Show Winners Announced
Finovate
SEPTEMBER 10, 2024
Best of Show winners from our 2015 through 2024 conferences are below: FinovateEurope 2015 FinovateSpring 2015 FinovateFall 2015 FinovateEurope 2016 FinovateSpring 2016 FinovateFall 2016 FinovateAsia 2016 FinovateEurope 2017 FinovateSpring 2017 FinovateFall 2017 FinovateAsia 2017 FinovateMiddleEast 2018 FinovateEurope 2018 FinovateSpring 2018 FinovateFall (..)
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Richard Maloney to Lead UOB Thailand as CEO Starting July 2024
Fintech News
JUNE 10, 2024
She previously led Retail and Brand at UOB Thailand and has held senior positions in both retail and wholesale banking at Citibank Thailand before joining UOB in 2022. UOB has been operating in Thailand for over 20 years and completed the acquisition of Citigroup’s consumer banking businesses in Thailand in November 2022.
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GXS Bank Raises Additional S$229.5M from Grab and Singtel as Losses Grow
Fintech News
JUNE 25, 2024
million in 2022. Launched in August 2022, GXS Bank has enhanced its savings account, now allowing deposits up to S$75,000 with interest rates of 2.68% per annum for Saving Pockets and 2.38% for the main account. The bank’s loss for the year rose to S$208.2 million in 2023 from S$131.1
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Indonesia, South Korea Central Banks Ink Cross-Border Payments MOU
Fintech News
JULY 15, 2024
This MOU follows the 2022 bilateral cooperation agreement on central banking and was signed by BI Governor Perry Warjiyo and BoK Governor Rhee Chang Yong. Bank Indonesia (BI) and the Bank of Korea (BoK) have signed a memorandum of understanding (MOU) on cross-border payments.
A List of Digital Banks in Asia
Fintech News
MARCH 6, 2024
It became the country’s first digital lender to list on the Tokyo Stock Exchange in December 2022. million active customers by the end of September 2022. The bank also filed for an IPO on the Korea Exchange in June 2022. It has become one of the most successful digital banks in Asia, with over 19.8 It has over 2.3
Paymob Extends Series B to USD $72 Million
Fintech Finance
SEPTEMBER 11, 2024
The extension round follows Paymob’s continued profitability in its core market of Egypt having recorded 6x revenue growth since the initial Series B funding in Q2 2022. The Company launched in the UAE in 2022 and received its Saudi Payments PTSP certification in May 2023.
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Binance Recovers Over $73Million in User Funds from External Hacks and Scams in 2024
The Fintech Times
AUGUST 11, 2024
.” Crackdown impact According to Chainalysis’ 2024 Crypto Crime Report , 2023 saw a significant drop in the value received by illicit cryptocurrency addresses, totalling $24.2billion, down from $39.6billion in 2022. per cent in 2022. The share of all crypto transaction volume associated with illicit activity also fell to 0.34
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CFPB Proposes Interpretive Rule to Ensure Workers Know the Costs and Fees of Paycheck Advance Products
Fintech Finance
JULY 19, 2024
CFPB’s Findings on the Emerging Market for Paycheck Advance Products The CFPB analyzed 2021-2022 data from eight companies that partner with employers to offer loans based on earned wages. In June 2022, the CFPB launched an inquiry into practices and financial products that leave workers indebted to employers.
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Harmoney Acquires Compliance Specialist APPC
Finovate
DECEMBER 2, 2024
Harmoney made its Finovate debut at FinovateEurope 2022 in London. ” Founded in 2016, Harmoney made its Finovate debut at FinovateEurope 2022 in London. The acquisition will provide APPC clients with a broader range of tools to fight challenges ranging from anti-money laundering (AML) to counter-terrorism financing (CTF).
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UBS to Reduce Staff in Wealth Management Division Across Asia
Fintech News
MARCH 14, 2024
It’s pertinent to highlight that, at the close of 2023, UBS Global Wealth Management reported a substantial increase in its advisory team, boasting 1,101 advisors, a noteworthy rise from the 847 recorded at the end of 2022, prior to the Credit Suisse acquisition.
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Themis and Sei Leverage AI to Enhance Marketing Compliance for Banks
Finovate
AUGUST 26, 2024
Themis won Best of Show in its Finovate debut at FinovateFall 2022. Headquartered in New York and founded in 2021 by CEO Neepa Patel, Themis made its Finovate debut at FinovateFall 2022. Neepa Patel is founder and CEO. The company won Best of Show for its demo of its GRC solution that serves as a one-stop shop for compliance.
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Indonesian Regulator Grants Binance-Backed Tokocrypto Trading License
Fintech News
SEPTEMBER 9, 2024
” In December 2022, Binance had acquired Tokocrypto and conducted mass layoffs with approximately 58% of its workforce being let go. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers.”
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Indonesian Insurance Broker Officially Rebrands Following bolttech Acquisition
Fintech News
APRIL 28, 2024
This change follows bolttech’s acquisition of a majority stake in the company in late 2022. The rebranding will not affect its current services or agreements with partners and customers. The rebranding received approval from Indonesia’s Financial Services Authority, Otoritas Jasa Keuangan (OJK).
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Endowus Revenue More Than Doubles in 2023, But Losses Increase
Fintech News
SEPTEMBER 29, 2024
million (US$1 million) in 2022. The firm also expanded its services to Hong Kong in 2022, marking its first move beyond Singapore. Income from financial advisory services increased to S$9.4 million (US$7.3 million), while retrocession fees surged to S$6.5 million (US$5.1 million), a notable jump from S$1.2 million (US$2.4
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Singlife Completes Migration to AWS, Now Singapore’s First Cloud-Native Insurer
Fintech News
JUNE 4, 2024
Announced in late 2022, the multi-phased project, supported by AWS Professional Services, involved migrating over 39 mission-critical applications and exiting its data centers within 18 months. Homegrown financial services company Singlife has successfully completed its migration to Amazon Web Services (AWS ).
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Thunes-Backed Regtech Firm Tookitaki Secures Funding for Asia Expansion
Fintech News
OCTOBER 21, 2024
” Global cross-border payments firm Thunes holds a majority stake in Tookitaki following an investment of over US$20 million in 2022. TGV’s deep expertise in scaling technology businesses globally will be invaluable as we continue to empower financial institutions with the tools they need to effectively combat financial crime.”
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Mongolia’s Fintech Future: Building a Digital Economy in a Land of Contrasts
The Fintech Times
AUGUST 23, 2024
In 2022, the total assets within the banking sector grew by 12.3 By 2022, over 75 per cent of the population had already engaged with the platform, highlighting its widespread adoption. partnered with M Bank in 2022 to enhance the bank’s digital lending capabilities. For example, Singapore-based Finbots.ai
Economy 115
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Payment and Crypto Identified as Top Targets for Identity Fraud in Q4 2023
Fintech News
APRIL 1, 2024
The rally marked the end of a prolonged so-called “ crypto winter ” which saw the value of the cryptocurrency fall by a substantial 75% between November 2021 and November 2022 to reach a two-year low of US$16,000. billion in 2022, a new report by the Federal Bureau of Investigation (FBI) shows.
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Webull Reports 100% AUM Growth in APAC
Fintech News
SEPTEMBER 24, 2024
This growth reflects the company’s steady expansion, starting with its entry into Hong Kong in 2020, followed by Singapore and Australia in 2022, and later Japan, Indonesia, Malaysia, and Thailand. In Singapore, Webull has experienced strong growth since its launch in 2022. and APAC markets. Since launching in the U.S.
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Grab’s Digibank Deposits Reach US$479M, Driven by Growth of Malaysia’s GXBank
Fintech News
MAY 15, 2024
Grab operates two digital banks: GXS Bank in Singapore, a joint venture with Singapore-listed telecom giant Singtel, launched to the public in August 2022, and GX Bank Berhad in Malaysia, the country’s first digital bank, operational since November 2023.
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Eurosystem and 5 Asian Central Banks Advance Project Nexus Implementation
Fintech News
OCTOBER 23, 2024
This initiative follows a successful 2022 proof-of-concept involving the Eurosystem, Malaysia, and Singapore, along with further collaboration with central banks and IPS operators from Indonesia, Malaysia, the Philippines, Singapore, and Thailand.
Central Bank 126
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Singapore Fintech Companies Shift Focus to Profitability and Strategic Expansion Amid Funding Challenges
Fintech News
NOVEMBER 5, 2024
The report, released on October 29, provides an updated analysis on Singapore’s fintech landscape, examining emerging trends and the sector’s evolution since 2022. Web3, for example, has expanded substantially over the past two years, soaring from just 5% of the Singapore fintech ecosystem in 2022 to 16% in 2024.
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