Tag: FIntech

London, United Kingdom – Global fintech Unlimit announced today that actor, producer, and entrepreneur Simu Liu will be the company’s first global brand ambassador. To mark this, Simu will lead Unlimit’s ‘biggest’ campaign to date, headlining a high-impact advert which takes place behind the scenes of a movie production set. 

The campaign shows businesses how important it is to choose the ‘right’ partner in payments and allow customers the freedom to pay any way they want, anywhere they want.

Debuting online on March 3rd, 2025 across the APAC, EMEA, UK, and LATAM regions, the ad will be the first step in announcing Simu Liu as Unlimit’s first global brand ambassador, and will continue running across various digital channels for the remainder of 2025. 

In the ad, Liu navigates the different stages of film and television production and demonstrates how versatility can help people make the right choices when aiming for success. While doing this he highlights various business use cases, showing how Unlimit can tackle different payment challenges all over the globe thanks to its vast payment infrastructure and portfolio of over 1000 payment methods.

The ad was produced by Paradox House Creative and directed by Oscar-winning director Joachim Back. Meanwhile, Critically acclaimed co-chief producers Alex Chang, Merlin Merton, Kristina Tywoniuk & Mike Jones are the team behind the creative, production, and post-production aspects of the campaign.

Speaking on his involvement in the campaign, Simu said, “Unlimit’s mission – to eliminate financial borders – immediately drew me in; I apply the vision of being limitless to all aspects of my work. In the entertainment industry, you need to be as versatile as possible, catering to all scenarios and adjusting to any role; in the global business world, a payment provider has to do the same. I am thrilled to partner with Unlimit, who have successfully supported businesses across the globe for over 15 years, to deliver this message.”

Meanwhile, Kirill Eves, CEO and founder of Unlimit, commented, “Simu Liu is an extremely versatile actor, entrepreneur, and producer. His multicultural, international upbringing, determination, and entrepreneurial mindset make him a symbol of everything that Unlimit represents; he is the perfect choice as our first-ever brand ambassador.”

He added, “This campaign underlines our commitment to continue evolving our product line and payment offering worldwide so that we remain a reliable partner and go-to choice for payments for businesses of all sizes and verticals, all over the globe.”

In addition to the digital launch of the ad, which will consist of multiple strands of activity, including digital takeovers, social media activations, digital & event advertising, and social competitions, as Unlimit’s global brand ambassador, Simu Liu will also take part in the offline phase of the launch scheduled in Q2 2025.

Singapore – Ant International, a digital payment and financial technology solutions provider, has named Jiang-Ming Yang as its chief innovation officer (CIO), effective immediately. Yang is set to focus on transforming the company’s digitalisation strategy.

As the new CIO, Yang will lead a team that drives Ant International’s innovation and product strategy, ensuring their alignment with trends and customer needs.

Yang brings his expertise in payments and e-commerce, having recently served as Ant International’s chief product officer. During his tenure, he focused on developing fintech solutions. He led the establishment of various AI-powered solutions like Antom’s A+Rewards, Copilot, and EasySafePay.

Recently, Ant International’s CEO, Peng Yang, announced upgrades to its payment solutions for small and medium-sized enterprises. The move is directed towards inclusive growth for the sector.

“Ant International will continue to invest at the frontier of innovation to help businesses, especially SMEs, to achieve sustainable growth in an increasingly complex global environment. Top on our list of priorities will be to push the cost and efficiency boundary for cross-border payment and settlement; to democratise cutting-edge technology solutions for SMEs on payment, trade and financial services; and to revolutionise user experience with new intelligent technology for cross-border travel,” Jiang-Ming commented.

Kuala Lumpur, Malaysia – BigPay, the fintech company under MOVE Digital–Capital A’s digital arm–, is reportedly experiencing a mass exodus of its top executives, according to a report from Fintech News Malaysia.

According to the report, the executives reportedly leaving the company are chief executive officer Zubin Rada Krishnan, chief operating officer Mitherpal Sidhu, chief growth and commercial officer Chris Manguera, and chief of staff and head of strategy Meirisha Berisdha. 

Unnamed sources have also stated that chief technology officer Siddharth Ravichandran will be leaving the company, but remains unconfirmed.

MARKETECH APAC has reached out to BigPay for their comment.

It is worth noting that BigPay also the departure of its co-founders Salim Dhanani, Chris Davison, and Navin Rajagopalan at different times, with Dhanani recently leaving in 2023.

In Capital A’s latest financial results for the third quarter of 2024, it had noted that BigPay’s revenue reached RM8.7m, with an EBITDA loss narrowed by 2% YoY to RM21.7 million, which was improved through cutting staff cost. Moreover, it had recorded that the recent launch of BigPay Lite saw 44% of new users in 3Q2024 onboarded via this channel. 

Singapore – Fintech company Revolut launches eSIMS and global data plans in Singapore to provide its customer with seamless connection when travelling. Revolut has collaborated with telecommunications company 1GLOBAL to launch the eSIM.

Offering coverage in over 100 countries, Revolut’s eSIM launch allows customers to stay connected cost-effectively, eliminating roaming charges.

Revolut customers can access the eSIM on compatible devices regardless of the plan they are on, enabling them to buy and activate it on the app. Since it is fully digital, the eSIM can be used along with other existing physical SIMs.

Additionally, it allows customers to use the Revolut app without mobile data, which means that they can top up data upon landing in a different country.

Data plans will range from 1GB to 100GB, with prices varying for each location. Customers can also choose among regional or global data plans, depending on their travel needs.

Revolut is also launching eSIMs in Australia, New Zealand, and Japan. 

Raymond Ng, chief executive officer at Revolut Singapore, commented, “At Revolut, we aim to simplify our customers’ lives and make things as easy and convenient for them as possible. This is exactly what our latest product, eSIMs, accomplishes. It offers seamless and cost-efficient access to mobile data, saving customers money and the hassle involved in organising and managing multiple physical SIM cards.”

“Whether you are in the US, Australia or Egypt, you can effortlessly secure a data plan with just a few taps on your phone, and then instantly share those breathtaking photos of your trip with friends and family. It’s a game-changer for people who love to travel internationally and it is built for the global citizen of today,” Ng added.

“By joining forces, Revolut can leverage 1GLOBAL’s worldwide mobile network and market leading eSIM platform to enhance their own international technological infrastructure. 1GLOBAL provides quick and secure mobile network connectivity in over 160 countries worldwide. Our eSIM technology integrates seamlessly into the existing Revolut app and can be installed on any eSIM-compatible mobile device in less than a minute,” Hakan Koç, founder and chief executive officer of 1GLOBAL, said.

Indonesia – PT Bank Negara Indonesia (Persero) Tbk (BNI) has entered into a strategic collaboration with PT Berdayakan Usaha Indonesia (Batumbu), a fintech lending platform, to enhance financing access for micro, small, and medium enterprises (MSMEs) across Indonesia.

Recognising the vital role of the MSME sector, BNI’s partnership with Batumbu highlights the bank’s dedication as an “Agent of Development” to expanding access to productive financing for MSMEs within supply chain ecosystems.

As part of this collaboration, BNI will provide a loan channelling facility of IDR 1.2t to Batumbu, which will allocate the funds to its MSME partners using a supply chain financing model.

This strategic alliance leverages technology to streamline financing, empowering MSMEs to grow and drive Indonesia’s economic progress, reaffirming BNI and Batumbu’s commitment to inclusive financial access.

Through initiatives like its collaboration with Batumbu, BNI aims to deliver transformative solutions that empower MSMEs to compete globally and achieve long-term success.

The partnership was officially cemented with the signing of a Cooperation Agreement (PKS) by I Nyoman Astiawan, BNI’s general manager of retail productive banking, and Reza Perazi Armadi, Batumbu’s president director, during a ceremony at BNI Tower in Jakarta.

Armadi expressed his enthusiasm for the partnership, highlighting its alignment with Batumbu’s mission to empower MSMEs across Indonesia, backed by the support of Validus Investment Holdings Pte Ltd.

“This partnership unlocks opportunities for us to deliver fast, tailored financing solutions to small and medium enterprises, many of whom remain underserved by traditional banking services,” Armadi stated. 

Speaking at the event, BNI’s director of retail banking, Corina Leyla Karnalies, emphasised the strategic significance of the collaboration in empowering MSMEs, a vital pillar of Indonesia’s economy.

“In this era of digital transformation, technology has become a pivotal enabler for the advancement of the financial sector. Fintech lending presents innovative, efficient, and inclusive financing solutions tailored for MSMEs. At BNI, we remain steadfast in our commitment to fulfilling our role as an agent of development by driving innovation and leveraging digitalisation to simplify and enhance credit access for MSMEs,” Karnalies remarked.

Since its founding in 2018, Batumbu has disbursed IDR 45.1t in financing as of October 2024, maintaining sustained profitability with positive monthly EBITDA since 2022.

Through this partnership, BNI and Batumbu reaffirm their commitment to building an inclusive financial ecosystem that empowers MSMEs and strengthens Indonesia’s economic resilience.

United States – Multinational financial technology leader PayPal has unveiled a new brand identity designed to unify its image and reflect its mission of revolutionising global commerce, in collaboration with design firm Pentagram.

PayPal’s refreshed brand identity heralds a new chapter for the company and its customers, signalling a shift towards a simpler, cleaner, and more modern approach infused with optimism.

For this brand refresh, Pentagram collaborated closely with Diego Scotti, executive vice president and general manager of PayPal’s consumer group and global marketing & communications, and Geoff Seeley, chief marketing officer at PayPal, along with the company’s internal communications, marketing and advertising teams.

The design firm also worked with PayPal to manage the implementation of the new brand system, which includes an advertising campaign by BBH Global featuring Will Ferrell.

Designed by Andrea Trabucco-Campos and the Pentagram team, PayPal’s evolution features a custom typeface, PayPal Pro, a refined colour palette, and a motion language inspired by everyday payment behaviours such as tapping, flipping, and swiping.

Pentagram assisted PayPal in developing a new visual strategy for its brand identity, emphasising principles of simplicity, optimism, and trust to enhance accessibility for “Everyone, everywhere.” This bold and direct approach is designed to promote flexibility for future brand partnerships and collaborations.

Furthermore, the updated PayPal monogram showcases sharper, modern letterforms with de-rounded corners and a refined colour palette that adds depth and contrast. While maintaining its core structure, the monogram now functions independently from the wordmark, providing greater creative flexibility in the brand’s visual identity.

PayPal has also replaced its iconic 20-year-old logo with a new design featuring a custom typeface called PayPal Pro. This bold and clear wordmark focuses on straight lines and circular curves, ensuring the message remains the priority. Additionally, Pentagram is collaborating with Lineto and PayPal to create a secondary typeface, PayPal Pro Text, optimised for legibility at smaller sizes.

The new logo is complemented by a neutral black and white palette, distinguishing it from the traditional fintech blue. The previous yellow has been removed, and outdated yellow payment buttons have been replaced with black. This streamlined palette aims to enhance PayPal’s brand personality through vibrant imagery, showcasing the platform’s accessibility in authentic, spontaneous moments.

Finally, to highlight PayPal’s user-friendly experience, the brand launched a new motion identity that captures everyday transactional gestures, both digital and physical. The new brand animations bring the wordmark and typography to life with taps, clicks, flips, and swipes, seamlessly incorporating the movement of the payment experience into the brand identity.

As part of its new identity, PayPal has launched the PayPal Debit Card, with additional brand expressions to be introduced as part of an expansive design system—designed for everyone, everywhere.

In an official website blog, PayPal and Pentagram stated, “PayPal has been revolutionising commerce globally for more than 25 years with innovative experiences that make moving money, selling and shopping simple, seamless, personalised and secure. The digital payment platform is now ushering in a new era for customers that makes it easier and more rewarding to shop and pay with PayPal anywhere, anytime,” 

Philippines – Globe Fintech Innovations, Inc. (Mynt), the parent company of GCash, has announced new strategic investments from Ayala Corporation and Mitsubishi UFJ Financial Group (MUFG), elevating its valuation to $5 billion—more than double the $2 billion valuation from 2021.

In a disclosure released Thursday, Ayala Corporation, via its subsidiary AC Ventures Holdings, Inc., will acquire an additional 8% stake in Mynt for approximately ₱22.9 billion, valuing Mynt at ₱286.4 billion. This boosts Ayala’s ownership of Mynt to around 13%. 

According to Ayala, its increased investment in Mynt aligns with its strategy to reallocate capital to high-performing ventures. Boosting its stake in Mynt enables Ayala to capitalise on GCash’s robust long-term growth potential.

Concurrently, Mitsubishi UFJ Financial Group (MUFG), via its consolidated subsidiary MUFG Bank, Ltd., will also acquire an 8% stake following the signing of binding investment agreements.

Martha Sazon, president and CEO of Mynt, said, “We are thrilled to welcome MUFG as a new strategic partner. With their global expertise and reach within the financial inclusion space, they will be instrumental in further expanding GCash’s social impact, especially for the underserved. Alongside this, Ayala’s unmatched commitment to Philippine economic growth and development and its expertise in multiple industries will accelerate GCash’s mission.” 

Meanwhile, Yasushi Itagaki, senior managing corporate executive and head of the global commercial banking business group at MUFG, said, “GCash is an indispensable infrastructure for the everyday lives of Filipinos, and we are delighted to join Mynt as a strategic investor to support the growth of the company. With our investment, we are excited to expand our contribution to the ongoing development of the Philippines’ digital economy and financial inclusion.”

Cezar Consing, president and CEO of Ayala Corporation, also commented, “We like the long-term growth prospects of Mynt. It is a clear leader in a fast-growing space and a key contributor to the Philippines’ economic growth. Mynt is valuable because it enables underserved Filipino consumer and business segments to thrive.” 

With Morgan Stanley serving as Mynt’s exclusive financial advisor, the proposed investment is contingent upon the execution of definitive transaction documents and the fulfilment of customary closing conditions. Upon completion, MUFG will become a shareholder in Mynt, while Ayala will increase its existing stake.

Mynt has experienced unprecedented growth in its user base and transactions over the past four years, driven by innovations and a focus on customer experience. This new investment will enhance financial inclusion and spur economic growth in the Philippines. In 2023, Mynt recorded a net income of PHP 6.7 billion.

Kuala Lumpur, Malaysia – Local fintech company Jirnexu has announced the acquisition of CompareHero, the B2C brand exclusively operated by MoneyHero in Malaysia. Moreover, MoneyHero will retain an equity stake in Jirnexu to enhance its long-term strategy for the Malaysia market.

Through this transaction, CompareHero’s website, domain names, select user data, and IP rights will be acquired by Jirnexu. When the transaction is completed, the CompareHero brand will continue in operation under the world-class systems of Jirnexu moving forward. Terms of the deal, expected to close in early July 2024, are confidential.

CompareHero was launched by MoneyHero in 2013. Jirnexu and its brand, RinggitPlus, was founded in 2013 and focuses exclusively on Malaysia. Prior to this transaction, CompareHero and RinggitPlus were the two key operators in Malaysia.

Rohith Murthy, CEO of MoneyHero, said, “We are pivoting our Malaysia strategy to align with our next growth phase. This strategic transaction aims to maximize the value of our interests in Malaysia, both in the near and long term. It also allows us to reallocate resources towards stronger growth opportunities in our core markets—Singapore, Hong Kong, Taiwan, and the Philippines. This approach positions us to drive shareholder value more effectively. By transitioning from an operator to a long-term investor in Malaysia’s leading player, we ensure continued benefit from the market’s opportunities without competing in other geographies.”

He added, “From its early development stages within MoneyHero’s portfolio, CompareHero grew into one of Malaysia’s top personal finance comparison and aggregator platforms. It is second only to our new investment in RinggitPlus. Users of CompareHero can expect continuity in service, quality, and innovation once the transaction is complete. This transaction reaffirms our commitment to the Malaysian market with a long-term, investor-focused approach, ensuring continued shareholder value and making financial decisions easier for consumers.”

Boost Bank by Axiata and RHB (Boost Bank) has officially launched its innovative digital banking app, marking a significant milestone in Malaysia’s financial technology landscape. 

In an exclusive interview with MARKETECH APAC, Diana Boo, chief marketing officer of Boost, shared exciting details about the launch of Boost Bank’s homegrown digital banking app. She also discussed the app’s innovative embedded onboarding journey and outlined Boost Bank’s long-term strategic goals for advancing the digital banking sector in Malaysia.

Diana Boo, Chief Marketing Officer, of Boost

The start of a long digital journey 

Approved by Bank Negara Malaysia (BNM) and the Ministry of Finance (MOF), Boost Bank aims to transform the way Malaysians interact with banking services through its pioneering embedded onboarding journey.

Boost Bank’s launch event was graced by the prime minister, Yang Amat Berhormat Dato’ Seri Anwar bin Ibrahim, and the minister of digital, Yang Berhormat Gobind Singh Deo.

“During the inaugural event, the Prime Minister expressed his confidence that digital banks, like Boost Bank, will drive e-payment transactions and financial literacy for the nation,” Boo recounted. 

For Boo, Boost Bank has distinguished itself as an industry pioneer through its innovative ‘embedded onboarding journey’. This unique feature allows existing Premium Wallet users on the Boost eWallet app to seamlessly open a Boost Bank account digitally, even if they do not already have a bank account. Users simply tap on the ‘Bank’ icon on the Boost eWallet app’s homepage and complete a straightforward eKYC and registration process to open their Boost Bank account.

Additionally,  Boost Bank is also leveraging strategic partnerships to enhance its offerings. Recently, Boost Bank announced its partnership with MYDIN to offer preferential daily interest rates of up to 4% p.a. on its promotional Savings Jars, called ‘Groceries Jar’, and RM10 cashback on the Boost eWallet app. 

“In the coming months, we will unveil even more partnership promotions across both East and West Malaysia, including CelcomDigi, Bataras Sdn. Bhd., CKS RETAIL Sdn. Bhd., FARLEY (KCH) Sdn. Bhd., Servay Hypermarket (Sabah) Sdn. Bhd., and Boulevard Hypermarket and Departmental Store Sdn. Bhd,” Boo revealed. 

Embedded banking in daily life 

Boo believes that Boost Bank stands out as a frontrunner in the embedded banking industry due to its seamless integration into Malaysians’ daily routines, such as grocery shopping and paying telco bills.

“In summary, we go to our customers,” Boo emphasised. “Our approach is deeply aligned with our founding mission to serve the underserved segments of society by driving greater financial inclusion and creating greater access to banking solutions for the underbanked and unbanked communities.” 

Prime Minister Yang Amat Berhormat Dato’ Seri Anwar bin Ibrahim and the Minister of Digital Yang Berhormat Gobind Singh Deo joins the launch.

Boost Bank’s innovative model is further strengthened by its unique combination of the technology-first mindset of a fintech (Boost) with the trust and stability of a large financial institution (RHB Banking Group). 

“Capitalising on the combined and extensive ecosystems across the Boost-RHB Digital Bank Consortium, Boost Bank is strategically positioned to unleash the true potential of embedded banking in the long term, for which the entire value chain is estimated by industry research to reach $305 billion in APAC within a few years,” Boo explained. 

Boo also pointed to the success of digital banks in broader Asian markets as evidence of the viability of Boost Bank’s model. 

“Sustainable models that leverage ecosystems are most likely to succeed,” she noted.

As the Malaysian digital banking landscape continues to evolve, Boost Bank’s objective remains clear. 

“Our goal is to create a digital banking experience that is accessible, inclusive, and innovative,” Boo asserted. “This is just the beginning of our journey. Boost Bank will progressively expand our digital bank features and solutions to better serve the needs of all Malaysians, such as our much-anticipated Debit Card.”

Singapore – To celebrate the Global International MSME Day for 2024, digital payment and financial services provider Ant International has shared its support towards almost 100 million Micro, Small, and Medium-sized Enterprises (MSMEs) worldwide through its businesses and programs as well as its global campaign.

Through these efforts, Ant International reinforces its commitments towards MSME digitalisation and inclusion through the expansion of its services as well as new programs for skills development with industry partners.

In its ‘Embrace the power of small” campaign, Ant International features three business owners and their journeys of digitalisation namely, Cholthicha Joyyangsuk (Numwan) from Thailand who sells desserts on her tuktuk, Lem Cheong from The Hainan Story, Singapore who was inspired by his grandma’s rich heritage and flavourful recipes, and Lewis Ames from Wrimes Cosmetics, UK who started with neon face paint and pivoting to pet care during the pandemic.

These stories then will be featured on out-of-home billboards, starting in Europe, in time for the UEFA EURO 2024, of which Ant International is the Official Payment Partner, and rolled out to other global markets, and also on TV and social media.

In terms of Ant International’s other efforts, Alipay+, the cross-border mobile payments and marketing solutions operated by Ant International, announced an expansion of its global acceptance. As of June 2024, Alipay+ is accepted by over 90 million merchants in over 66 markets, enabling many small businesses to efficiently connect with global mobile-first consumers.

This initiative from Alipay+ is then supplemented further by digital payment solutions providers Antom and Worldfirst, empowering more SMEs with international payment solutions.

Additionally, ANEXT Bank, a digital wholesale bank incorporated in Singapore, recently celebrated its second anniversary, with two times year-on-year increase in its customer base, of which 69% are micro businesses. To further support regional MSMEs, the bank has introduced its second batch of ‘SME Friends of ANEXT’ with forward-thinking small and growing businesses to co-create the “digital bank of tomorrow”.

In Indonesia, Ant International and DANA will launch the second edition of ‘SisBerdaya’, an initiative that provides female micro entrepreneurs training, mentoring, and educational programs in business management and digital skills. Started in 2023, the first edition drew more than 2700 applicants, with 180 participants undergoing a one-month training, and grants awarded to 30 entrepreneurs.

Lastly, in collaboration with the International Finance Corporation, ‘10×1000 Tech for Inclusion’ is an open learning platform to help future digital leaders develop more skills to drive greater impact within their communities. As of 2023, with the support of 40+ global strategic partners, more than 6,000 individual talents from 100+ countries and regions completed the 10×1000 learning programs, of which 90% are from developing markets and 60% work in MSMEs.

Talking about these initiatives, Douglas Feagin, president of Ant International, said, At Ant International, we firmly believe in the power of small and that small businesses can make a big impact. Fintech innovations today unlock new possibilities for small businesses to dream boldly and compete globally.”

“Together with our partners, we want to ensure that every business and every person will have access to the knowledge, network, and digital tools to help them achieve their goals,” he added.