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October 05, 2021 - Oct 07, 2021
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October 06, 2021
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Latest Insight

Is Razer’s fintech foray ailing?

Written by Kapronasia || August 16 2021

Not every tech company is cut out to be a fintech. Even the super apps that have bet everything on a fintech transformation will agree with that statement: They just will insist their particular business model is a winner. Not gaming hardware maker Razer though. The Hong Kong-listed firm is the latest non-financial company to have second thoughts about a fintech foray, pulling the plug on its Razer Pay e-wallet and card after failing to win a digital bank license in Singapore.

Will Revolut’s travel app give it an edge in Asia?

Written by Kapronasia || August 12 2021

Revolut is the biggest neobank most of Asia has never heard of. Try as it might, Revolut just has not been able to make much of an impact in any APAC market yet, which is not a huge surprise given the amount of competition it faces and its distant home base in the UK. Revolut needs something to make it stand out from the crowd in APAC. Its new travel app Stays might be just what the doctor ordered.

Singapore’s largest banks have a better-than-expected Q2

Written by Kapronasia || August 09 2021

It would have been difficult for Singapore’s Big 3 banks – DBS, OCBC and UOB – to beat their performance in the first quarter. That holds especially true for DBS and OCBC, which both posted record earnings in the January-March period. So while all three banks saw earnings fall in the second quarter on a quarterly basis, they still turned in a solid performance that beat analysts’ expectations.

Nium reaches unicorn status

Written by Kapronasia || August 05 2021

Move over Grab and GoTo: There is a new Southeast Asian unicorn in town. The rapid ascendancy of Singapore-based payments startup Nium, which reached a US$1 billion valuation following a Series D round that raised more than US$200 million, shows that there is more to Southeast Asian tech than consumer-oriented super apps.

Unpacking Square’s US$29 billion acquisition of Afterpay

Written by Kapronasia || August 03 2021

Just when buy now, pay later (BNPL) had seemingly reached an apex in Australia, Jack Dorsey’s Square buys Afterpay for US$29 billion, the largest M&A deal in Australian history. Anyone who thought Afterpay would be easily surpassed by deep-pocketed global payments giants like PayPal or Australia’s own banking heavyweights will have to think again.

Why are Grab and Bukalapak teaming up?

Written by Kapronasia || August 02 2021

Indonesia is fast becoming the most hotly contested of Southeast Asia’s digital services markets. No other market is both as large and untapped. With that in mind, Singapore’s Sea Group and hometown favorite GoTo have made significant plays in recent months. The former acquired Bank BKE, while Gojek upped its stake in Bank Jago and then merged with Tokopedia. Not to be outdone, Grab is teaming up with Tokopedia's rival Bukalapak. This move finally brings e-commerce into the Singaporean firm's ecosystem and strengthens the hands of both Grab and Bukalapak as they prepare to go public. 

PayPal steps up its APAC play

Written by Kapronasia || July 28 2021

Big Tech increasly has its eyes on Asia-Pacific’s growing fintech market. Yet most of the US tech giants are off to a late start in the region. Although it has been present in numerous APAC markets for years, PayPal is not really an exception to the rule. The U.S. payments giant has historically focused on North America and to a lesser extent Europe, with only a minor footprint in APAC. That is changing now that PayPal has super app ambitions and sees new opportunities in China, Southeast Asia and Australia.

If you can’t beat ‘em, join ‘em. That seems to be true in just about every market that has introduced digital banks, and it is a two-way street. Hype about the challengers unseating incumbents tends to give way to a more nuanced reality in which there is some room for cooperation. In Australia, where four large banks have long dominated the market, the incumbents are steadily increasing their cooperation with fintechs in a bid to strengthen their digital offerings.

Why are BNPL firms foraying into banking?

Written by Kapronasia || July 21 2021

Australia’s Afterpay is making the jump from payments into banking as it seeks to develop new revenue streams amid intensifying competition in its core buy now, pay later (BNPL) business. Afterpay said on July 20 that it would launch its banking app, Afterpay Money, in October. The move into banking has a hint of irony to it, coming on the heels of the recent entry of several incumbent banking giants - such as Citibank and Commonwealth Wealth Bank of Australia – into Australia’s BNPL segment. Afterpay is the only BNPL firm besides Klarna to segue into banking.

Viva Republica and Big Fintech in South Korea

Written by Kapronasia || July 19 2021

Big Tech may have reached an apex in the United States and China, but in South Korea it is ascendant. In a country where chaebols have long been dominant, it is not hard to imagine internet companies – and indeed fintechs in particular – taking a similar path. And that is exactly what is happening. First, Kakao became a fintech giant, and now it is Viva Republica’s turn. The company, which operates Toss, the largest fintech app in South Korea, recently raised US$410 million at a valuation of US$7.4 billion.

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