BNPL services, DeFi solutions, Payouts-as-a-Service, among new services and products launched in the Singapore Fintech Festival

Singapore. The 7th edition of the Singapore FinTech Festival held from 2-4 November 2022 helped global communities connect and collaborate on issues related to financial services, technology, and public policies.

This year’s theme was “Building Resilient Business Models amid Volatility and Change.” It featured more than 450 organisations that showcased their latest innovations in the Fintech space.

More from OMY: SFF Agenda: Key Sessions at the 2022 Singapore Fintech Festival

Here are 5 of our favourite products and services that were launched during the festival.

1. Guarantee@Gov Digitalises Banker’s Guarantees And Insurance Bonds

This was launched by the Ministry of Finance and MAS as a secure yet simple digital process that businesses and people could use to give a banker’s guarantee or insurance bond to government agencies in just one day.

2. Cake DeFi Launches Enterprise-Grade Defi Solution For Institutions

Institutions that are on the lookout for an avenue to invest in Decentralised Finance (DeFi) products finally have the option to do this thanks to the launch of the Cake DeFi Enterprise. This launch is expected to meet the increasing demand for institutional DeFi services, as well as increase crypto portfolio diversification.

3. Airwallex Partnered With Atome To Enable Merchants To Accept Buy Now Pay Later (BNPL) Payment Options

Airwallex merchants can now offer BNPL as a payment to shops in Singapore, Indonesia, Hong Kong, and Malaysia through Airwallex’s partnership with BNPL giant Atome. This is expected to

allow merchants to increase their revenue. Soon, the collaboration is set to benefit those in the UK, Europe, Australia, Philippines, Japan, Thailand, and other countries as well.

More from OMY: The Best Buy Now Pay Later (BNPL) Service in Singapore

4. Rapyd’s First-Of-Its-Kind Multi-Currency Treasury Solution Set to Simplify Cross-Border Fund Management For International Organizations and Businesses

Leading FinTech platform Rapyd launched a multi-currency Treasury Solution, the first in the Asia-Pacific market. This solution is a collection of cash management features that will optimise the effort and cost of global payment operations. It also allows businesses that are engaged in cross-border trade to make their global financial relationships simpler.

5. Standard Chartered Unveils New Payouts-As-A-Service Solution For E-commerce Hubs

Payouts-as-a-Service, also called PaaS, is a bank-grade finch solution launched by Standard Chartered to allow digital businesses to manage one-to-many payments to parties in their ecosystems. This service will be available in India, Singapore, the UK, the UAE, and Malaysia.

More from OMY: Guide To SME Loan In Singapore

Image Credit: SG FinTech Festival

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