Tag: Singapore

Singapore – Eight start-up companies in fintech or fintech-related businesses occupied the spot in the latest ‘2023 LinkedIn Top 10 Singapore Startups List’, showing the rising trend of fintech firms in the country.

The list is based on the data analysed by Linkedin, covering the areas of employee growth, jobseeker interest, member agreement, and start-ups’ ability to attract talent from top company lists.

In this year’s list, a total of 8 fintech or fintech-related company start-ups, 4 of which provide business-to-business (B2B) fintech services, dominated the spot. This is a record number for fintechs on the list since their debut in 2020.

Among the list, financial services firm Aspire has retained its top spot since last year. Following behind it is the debut of fintech startup YouTrip, which offers a financial mobile platform for overseas payments.

Also on the list are telehealth provider Doctor Anywhere, which is focused on improving healthcare accessibility; car-sharing service GetGo Carsharing; AI tech start-up Advance Intelligence Group; digital corporate service provider Sleek; fintech company Endowus; digital securities trading platform ADDX; digital wealth manager Syfe; and cross-border payments platform Thunes.

The list reflects Singapore’s thriving ecosystem of innovative businesses. It highlights fintech’s enduring appeal as an engine of opportunity in Singapore that provides growth opportunities for professionals.

Furthermore, the presence of B2B start-ups suggests the growing relevance of B2B solutions in the country, especially in the small city-state where the business-to-consumer (B2C) market remains relatively small compared to other countries.

LinkedIn also revealed that the top companies on the list were those who were able to recognise and leverage the power of AI to grow in a fast-evolving environment.

For Pooja Chhabria, career expert and head of editorial in Asia Pacific at LinkedIn, the list is a great basis for career growth opportunities for professionals. And to be able to enter these top start-up companies, one must know what skills are needed to snag the job.

According to Pooja, one must think like a founder, as top start-ups are now looking for candidates with entrepreneurial spirit to seize opportunities for the business. It is also important to be a diverse team player and possess a growth mindset that is eager to learn, face challenges, and bounce back from setbacks.

Pooja said, “Fintech has a strong showing in Singapore’s Top Startups 2023 list, with 8 out of 10 startups in fintech or fintech-related businesses.This may be attributed to Singapore’s vibrant start-up ecosystem that nurtures and develops technology-based startups. The city-state is known as one of the world’s leading innovative and smart cities and is also looked upon as a model by other nations.”

“This year’s list of Singapore’s most thriving startups serves as a unique and actionable resource for professionals who are eager to work in companies that are revolutionising the industry they are in and driving exciting new innovations. Professionals can acquire hard and soft skills such as market research, agility, and entrepreneurial acumen,” she added.

Speaking on the list, Lim Wai Mun, founder and CEO at Doctor Anywhere, said, “We have been using AI in the form of machine learning and data analytics, reducing patient consultation time through smart form filling of common prescriptions, as well as understanding and matching users with various health and wellness products after they recover. With the advent of generative AI, this will enable us to deliver more personalised, efficient, and patient-centric care and also alleviate some of the most pressing challenges. This includes the talent shortage that the healthcare industry is facing globally.”

Meanwhile, Adrien Barthel, co-founder and chief growth officer at Sleek, also added: “The integration of AI is non-negotiable for businesses today. We started our AI journey a few years ago, and we continue to actively work on incorporating artificial intelligence to deliver more data automation that results in increased accuracy and better predictive outcomes.”

Singapore – Storyteller platform Viddsee has announced today that Derek Tan, co-founder, has stepped down from his operational role as Viddsee’s chief business development officer, and will be transitioning to a non-executive director role on the board.

Despite stepping down from his executive role, Tan will continue leading Viddsee’s future with his tenure and experience from his previous role, guiding the company strategically as a non-executive director.

Throughout his career, Tan has immensely contributed to the company’s growth and success. By focusing on strategic partnerships and business development initiatives, he played a substantial role in expanding Viddsee’s commercial offering, user base and strengthening its position in the industry. To date, Viddsee has amassed over 3 billion views with its rich repertoire of over 5,000 films.

The business, under the guidance of co-founder and CEO, Ho Jia Jian, senior vice president of commercial, Michele Schofield, and vice president of studios, Kenny Tan, will continue its journey after the tenure of Tan as the chief business development officer. Their collective vision is to persistently uphold the company’s commitment to promoting narratives and empowering diverse voices in this digital era.

Ho Jia Jian said that the company is very grateful for Derek Tan’s invaluable contributions over the years.

“He has been instrumental in fostering partnerships that have elevated our platform’s status internationally. We appreciate his expertise and dedication, which will continue to be a resource in his role as a member of the board,” he added. 

As this executive transition takes place, Viddsee remains in its goal of empowering storytellers and delivering quality, entertaining and engaging content to its global audience.

Singapore – A new report from Indeed notes that job opportunities utilising generative artificial intelligence (AI) are increasing in Singapore, with one in every 490 Singapore job postings are related to generative AI recorded by end of August.

Callam Pickering, APAC senior economist at Indeed, said, “The number may not seem like a big number but it is rapidly increasing. Artificial intelligence is hardly new but it continues to evolve. This year, we’ve seen the emergence of large language models, such as ChatGPT, which create the illusion of real intelligence. These tools have the potential to fundamentally change the future of work and are already being incorporated into many Singapore jobs.”

The data also noted that Singapore job postings fell 1.9% in August compared with a month earlier – the tenth consecutive monthly decline – which left postings almost 20% lower than a year ago. 

While Singapore job postings are at their lowest level since August 2021, they are still 63% above their level prior to the pandemic.

Moreover, postings in 16% of occupational categories have increased over the past three months, led by strong gains in veterinary (+59%), physicians & surgeons (+42%) and pharmacy roles (+27%). 

By comparison, declines have been widespread, with postings in beauty & wellness and civil engineering both down by around 21% over the past three months. Sizable declines were also observed in legal, cleaning & sanitation, chemical engineering and driving roles.

“Singapore’s labour market remains incredibly tight, with unemployment low and job vacancies still elevated. Nevertheless, job postings continue to moderate, having fallen for ten consecutive months. These declines have been broad-based, reflecting most occupational categories. A more challenging economic environment will likely lead to a further decline in job postings over the remainder of the year,” Pickering concluded.

Singapore – Sports fashion retailer JD Sports has announced that is eyeing the acceleration of its brand in the Asian markets of Malaysia, Singapore, and Thailand. This is despite the retailer has withdrawn their operations in South Korea and closed eight chains in the region.

According to a recent investors relation update from the company, JD Sports has finalised the acquisition of their non-controlling interests in the aforementioned markets.

The company also added that its revenue in Asia-Pacific grew strongly by 22% in the period to £230.9m, and 26% on a constant currency basis. Moreover, organic sales growth was also 26% with all countries in growth including Australia, their principal market in the region.

Meanwhile, their operating profit was up 4% to £32.4m as the closure of our South Korea business progressed as planned. They added that going forward, their Sydney distribution centre (DC) will relocate in 2024 to a new, expanded site to ensure that they have sufficient capacity for the next stage of growth. 

Régis Schultz, chief executive officer of JD Sports Fashion, said, “Looking ahead, our core consumers remain resilient in the face of the ongoing global macro-economic challenges. The JD brand continues to strengthen its global presence, supported by our strategic partnerships with much-loved brands and our strong balance sheet.”

It is worth noting that the parent company has acquired the remaining 20% of the issued share capital in its existing subsidiary in Malaysia, JD Sports Fashion Sdn Bhd, for cash consideration of £35.5m back in August. The group now fully owns the issued share capital of JD Sports Fashion Sdn Bhd and its subsidiaries.

Singapore – Around 74% of marketers in Indonesia cited advanced machine learning technology as the most important factor when selecting mobile app performance marketing solutions, according to data from Moloco. 

The new global study found that marketers are adopting data-driven solutions and prioritising performance marketing over traditional brand marketing. 

Globally, 63.2% of companies surveyed saw a year-on-year boost in their mobile app performance marketing budgets compared to the revenue from brand marketing. This shows that mobile app performance marketing has a clear and resounding power to drive revenue, user acquisition, and profit, especially during times of economic uncertainty.

In Southeast Asia, the use of advanced machine learning (ML) came out as the number one factor when selecting a mobile app performance marketing solution.

Especially in Indonesia, a staggering 74% of marketers consider advanced ML to be the most important factor for precise targeting in mobile app performance, followed by Vietnam (60.4%) and Japan (52%). Meanwhile, only 22.6% of marketers in Korea and 22.3% in Singapore prioritise advanced ML when selecting a mobile app performance marketing solution.

Indonesia, with 61%, also takes the lead when choosing APRU (average revenue per unit) as the preferred KPI, which is higher than the rest of the markets in SEA and globally.

In terms of budget allocation for mobile app marketing, companies in every country surveyed allocated more than half their marketing budgets to mobile ads, with Indonesia ranking the highest at 81.8% while Singapore and Vietnam allocated 59.2% and 58%, respectively.

It is worth noting that performance mobile app marketing continues to grow consistently across all industries, with 64.7% of surveyed companies increasing their mobile ad marketing budget in 2023 compared to the previous year.

Daisuke Yokokawa, vice president of global marketing at Moloco, said, “The global shift in marketing from reach to results continues to gain momentum across different countries and various industries.” 

He added, “Many mobile app marketers are aware that the secret of big tech’s success in advertising is advanced ML technology and the performance marketing solutions that they provide. This global trend is due to the clear and resounding power that mobile app performance marketing has to drive revenue, user acquisition, and profit, especially during times of economic uncertainty.”

Meanwhile, Jennifer Ha, project leader and partner at Ipsos Strategy3, said, “Performance marketing is on trend, regardless of the country.Marketers are typically loath to share their best kept secrets, but thanks to this anonymized research study, we now have detailed insights about their strategic marketing decisions and investments. Ultimately, having consistent results such as measurable and impactful ROAS underpins the success of many global performance marketing budgets.”

Singapore – Bray Leino Splash has announced the launch of a new bursary program at the Singapore Institute of Technology (SIT) as part of its commitment to advancing higher education and supporting the aspirations of young talent. The goal of this initiative is to help students who are less fortunate. 

Made possible through the donation from Bray Leino Splash, a sum of eight Bray Leino Splash Bursaries will be presented over the next four years. This will ensure that promising students have the opportunity to achieve their goals of earning a bachelor of science with honours degree in digital communications and integrated media.

Speaking about the program, Lee Kuok Ming, group chief executive officer at Bray Leino Splash, said, saying, “It is a privilege to have the opportunity to support students in need. At Bray Leino Splash, we believe that learning is one of the most effective ways to uplift the welfare of the workforce in general and our employees in particular.”

He added, “Therefore, the bursary award fits ideally with our philosophy. We hope that our contribution can, in some small way, help to support the learning journeys of needy students within SIT and help them achieve greater success in their careers.” 

Meanwhile, Professor Tan Thiam Soon, institute professor at Singapore Institute of Technology, expressed gratitude, “We wish to thank Bray Leino Splash Pte Ltd for its impactful giving to make possible a new Bursary for less privileged students who are pursuing the Bachelor of Science with Honours degree in Digital Communications and Integrated Media at the Singapore Institute of Technology. A total of eight Bray Leino Splash Bursaries will be awarded over the next four years, enabling the recipients to realise their aspiration of becoming degreed professionals in the Communications and Media sectors.” 

“At the same time, Bray Leino Splash Pte Ltd’s gift will also help build a talent pipeline for the industry. Our heartfelt appreciation once again,” Soon added.

Singapore – Adtech company Adzymic has announced the launch of its Adzymic Premium Exchange (APX), which incorporates various rich media formats within premium publishers in Malaysia and Singapore. 

APX is an innovative advertising network that integrates high-impact formats and non-intrusive rich media ad units such as desktop skins, mobile scrollers, and a range of other rich media formats across premium publishers.

The advertising network leverages Adzymic’s own Creative Management Platform (CMP) and Dynamic Creative Optimisation (DCO) technology to incorporate creative automation and dynamic capabilities within high-impact, rich media formats. This includes a range of features that allow for dynamic product ads, live data feeds, API integrations, and much more.

Furthermore, it also uses Microsoft Advertising’s sell-side platform, Monetize. This would allow advertisers and agencies to easily work with APX through direct IO buys or via programmatic DSPs.

Meanwhile, Adzymic’s in-house operations teams will work alongside agencies and client programmatic buying units to set up self-serve programmatic deals or manage the end-to-end campaign operations for direct bookings.

APX has now reached 90% of web audiences through the company’s partnerships with Mediacorp and SPH Media in Singapore and Rev Media Group and Astro in Malaysia.

Coupled with impactful advertising, brand-safe, and attention-focused environments, the advertising network service offers performance and high viewability that deliver results to advertisers.

With the launch of APX, Adzymic is also announcing the appointment of Justin Lim as its new managing partner for APX.

Justin brings with him a wealth of experience in the ad tech industry, having held leadership and commercial roles at Azerion, Sublime, and Unruly. His experience working closely with publishers and agencies positions him perfectly to drive growth for APX.

Alicia Luke, head of channel excellence at SPH Media Ltd. Singapore, said, “As one of the largest media networks in Singapore, SPH Media has always prioritised delivering value to both our readers and advertisers. Through our partnership with Adzymic in APX, we are able to offer advertisers various digital solutions across our premium SPH Network sites.”

Also commenting on the partnership, Nicholas Sagau, chief operating officer at Rev Media Group Malaysia, shared, “We are excited to announce that APX is now a part of Rev Media Group’s list of advertising solution partners. This partnership enables us to continue offering advertisers in Malaysia access to a premium advertising solution which enhances the way brands engage with their audiences. APX’s high impact and dynamic nature of the creative formats align perfectly with our commitment to excellence in advertising.”

Kenny Ong, director of Astro Media Solutions, also added, “Through Astro’s partnership with Adzymic, we can help brands benefit from rich media that focuses on high-quality placement, intelligent contextual targeting, and brand safety. Astro’s audience-first, experience-led, and data-supported approach, together with premium content and APX’s smart technology, offer powerful and effective media solutions for brands to measure the impact of rich digital advertising more effectively across all metrics and KPIs.”

Meanwhile, speaking on his appointment, Justin said, “I am thrilled to spearhead the launch of Adzymic Premium Exchange (APX). It represents the culmination of our dedication to innovation, offering advertisers a solution that seamlessly combines automation with high-impact, rich media formats and premium inventory to deliver impactful ad campaigns. I look forward to working with the talented team at Adzymic to roll out the APX solution to publishers and advertisers as we continue our global expansion.”

Singapore – Online dating app Bumble has joined hands with AWARE, a women’s rights and gender equality advocacy group in Singapore, in a global safety initiative to create a safer online dating experience. 

The newly formed partnership will provide AWARE with a way to help and protect Bumble’s community by removing potentially harmful individuals from its app.

AWARE is a non-government organisation (NGO) that works directly with victim-survivors of sexual violence and technology-facilitated abuse such as discrimination and hate speech. 

Through this partnership, AWARE will be onboarded on a platform that provides a pathway to a tip line for organisations to report harmful or dangerous individuals to Bumble’s dedicated Member Safety team. These individuals, if found to be attempting to use the app, will receive a warning from Bumble or even have their profiles removed from the platform. 

Bumble’s reporting pathway is powered by Kodex, a secure information-sharing portal. Kodex is currently employed by the dating app to communicate with law enforcement agencies around the world.

The new tip line hosts NGOs and charities that work with victim-survivors. They are housed separately from any law enforcement communications. With this, it mitigates the burden placed on victim-survivors to report these harms while ensuring that dangerous individuals are proactively removed from the Bumble platform. 

Currently, the process is only open to NGOs and charitable organisations. However,  individuals can still report a dangerous or harmful individual to Bumble through its in-app reporting mechanism, online contact form, or through the app’s social support function. 

The partnership is a way for Bumble to strengthen its commitment to promoting the safety of its users. The online dating app is continuing to build on its safety policies and features with the continued development of its safety handbook and the relaunch of its in-app Safety and Wellbeing Centre.

Bumble also developed safety features like the Private Detector, which automatically blurs potential lewd images shared on Bumble and Badoo, and the Block and Report function to provide women with a space to flag out uncomfortable situations.

Lucille McCart, APAC communications director at Bumble, said, “Bumble is an app built by women, for everyone. Safety has been central to our mission from day one, and our core values of kindness, respect, and inclusivity are at the centre of all the work we do. We are proud to be able to work with AWARE in an effort to further restrict harmful individuals from being able to access our platform in Singapore.”

“At Bumble, we believe in victim-survivors and we understand the burden that can be placed on survivors to report experiences of harm to us. This is just one way that we are taking a sensitive and trauma-informed approach to safety. We are proud to work with organisations like AWARE who share the same vision of protecting women, and as part of our global mission to fight misogyny and advance gender equality, we will continue to advocate for the elimination of gender-based violence and strive to create a safer world for women. We welcome more to join us to pave the way for a safer and more positive online dating experience,” she added. 

Meanwhile, Sugidha Nithiananthan, director of advocacy, research, and communications at AWARE, also said, “As more people engage in online dating, there is greater access to a larger pool of potential dates. Therefore, it is critical that groups collaborate to develop positive safeguards for the community to prevent various forms of harm that might arise from using the internet for dating.  AWARE shares Bumble’s commitment to establishing a secure dating environment that not only eliminates potential threats to women’s safety but also actively prevents harassment and image-based sexual abuse. Through the provision of such features and resources, we hope to continue to empower women in Singapore to have greater agency over their dating journeys.”

Singapore – Financial services company Singlife has recently unveiled their latest brand campaign, designed to inspire and empower individuals across Singapore to embrace the ‘can-do’ spirit on their journey towards financial freedom. 

Singlife’s new campaign via MullenLowe Singapore uses the quintessentially local expression “Caaaaan!” throughout its marketing and communications assets, highlighting the parallels between its brand story and Singapore’s national journey.

This phrase highlighted in the campaign also serves as a reference to Singapore’s spirit of resilience and determination, while simultaneously showcasing Singlife’s commitment to helping Singaporeans achieve their financial goals.

Titled ‘The Dream’, the campaign depicts the aspiration of everyday Singaporeans to retire early with peace of mind, showing a middle-aged couple embarking on an adventurous and relaxing retirement journey with Pierre Png, Singlife’s brand ambassador, showing up  as their ‘dream’ neighbour. The film wraps up with the significance of pursuing one’s dreams, and how Singlife empowers Singaporeans to take the first step in achieving their vision of financial freedom.

‘The Dream’ builds on Singlife’s first campaign ‘The Jugglers’ and will also be rolled out over the next few weeks through an integrated, multi-channel communications strategy, encompassing broadcast, radio, digital, and out-of-home advertising (OOH).

Debra Soon, group head of brand, communications, and marketing at Singlife, said, “Some people have grand dreams, while others have modest ones – all are entirely valid. Whatever your dream, Singlife is here to help you confidently say ‘can’ and achieve it with financial freedom.”

Meanwhile, Paul Soon, chief executive officer, MullenLowe Singapore and China, expressed, “In partnership with Singlife, our goal was to craft a campaign that inspires honest conversations among Singaporeans, instilling in them the confidence and reassurance needed to believe they can pave their own way to financial freedom.”

Singapore – Moving Walls, the out-of-home (OOH) media enterprise software provider, has announced its partnership with Place Exchange, a programmatic OOH media supply side platform (SSP), to provide businesses with seamless access to a vast network of digital OOH inventory.

The new partnership will allow Moving Walls OOH’s software users to access Place Exchange’s expansive network for digital OOH inventory.

Moving Walls’ buy-side OOH planning and buying software is used by brands and partners across multiple regional marketing hubs like Singapore, Japan, India, Latin America, and the Middle East that utilise DOOH for their marketing campaigns.

And with this partnership, Place Exchange’s inventory of over a million DOOH displays from leading OOH media partners around the globe will be available on Moving Walls’ buying platform.

This gives marketers seamless access to a diverse range of venues and formats, including roadside and city centre billboards, street furniture, transit hubs, retail locations, entertainment venues, and more, helping them get a consolidated view of campaign planning and measurement.

Srikanth Ramachandran, founder and group CEO at Moving Walls, said, “This type of partnership goes a long way to removing the friction of executing truly global DOOH campaigns.”

“Many of our buy-side partners are used to running multi-market advertising campaigns, and DOOH remains the most impactful way of driving reach in a new market. With Place Exchange, our partners can now extend these campaigns into some of the most advanced DOOH markets,” he added.

Commenting on the partnership, Ari Buchalter, CEO at Place Exchange, also shared, “We’re thrilled to introduce Place Exchange’s premium inventory to Moving Walls users and give our supply partners the opportunity to engage with more international advertisers.”

He added, “DOOH is a unique medium with sophisticated audience targeting and performance measurement capabilities on par with other digital channels, and we are excited to unlock these capabilities in new markets for global activations.”