InstaReM, a Singapore-headquartered FinTech start-up offering convenient, fast and cost-effective cross-border money transfers to individuals and businesses, has received regulatory approval from the Reserve Bank of India (RBI) for facilitating overseas remittances from India. InstaReM plans to start its outbound money transfer services from India by November 2017 in partnership with a leading AD-I (Authorized Dealer – Category I) bank, per RBI’s governing conditions for the partnership.
The award recognises innovative and disruptive FinTech solutions implemented by FinTech startups, companies, and institutions. From a submission of 580 applications from 40 countries, the panel has chosen the Top 30 finalists, details of which can be found here. The finalists will further be evaluated on the basis of impact, practicality, interoperability, and uniqueness and creativity. The selection process will be led by PwC.
Monetary Authority of Singapore & Securities Commission Malaysia Collaborate to Foster FinTech Innovation
The Monetary Authority of Singapore (MAS) and the Securities Commission Malaysia (SC) signed a Cooperation Agreement (CA) to foster closer cooperation on FinTech and innovation in financial services between Singapore and Malaysia. MAS and SC share similar objectives of developing robust FinTech ecosystems that support the needs of the financial industry and promote innovation in their respective markets.
The Monetary Authority of Singapore (MAS) today announced the finalists for the 2017 Global FinTech Hackcelerator and FinTech Awards. The Global FinTech Hackcelerator and FinTech Awards are among the highlights of this year’s Singapore FinTech Festival, which will take place in Singapore from 13 to 17 November 2017.
LATTICE80, the world’s largest fintech hub based in Singapore, has been welcomed as the ecosystem partner at YES FINTECH, a Mumbai-based business accelerator for startups. YES FINTECH operates under YES BANK, India’s fifth largest private sector bank, and is currently accepting applications for its second cohort.
Vietnam’s largest smart vending machine operator Dropfoods plans to raise US$9 mil through Initial Coin Offering (ICO) on September 21st to expand its smart vending machine footprint across Southeast Asia.
Founded in August 2015, Loan Frame is a fintech SME lending marketplace focused on solving the financing problem for millions of small and medium enterprises (SMEs) in India. Loan Frame enables SME lending through partner lenders, by providing them the technology to efficiently originate and assess small business borrowers.
Fintech Asia features Loan Frame a B2B lending startup in India. Shailesh Jacob, Founder & CEO of the company, shares his thoughts on fintech and entrepreneurship.
This feature is part of the Fintech India series.