The FINNIX mobile app, which is regulated by the Bank of Thailand, was developed by MONIX and offers microfinance loans through a completely digital process from loan application to approval and disbursement.

Through this new facility the fintech lender will be able to channel the funds via its range of tailored financing solutions across SME segments across all its five markets.

The two countries are looking towards financial sector digitalization. A conference slated for June in Zurich seeks to do just that. 

The investment aims to support a resilient recovery by promoting business growth, creating jobs, and fostering financial inclusion.

Ongoing shifts toward e-commerce, digital payments (including contactless), and instant payments have all been significantly boosted during the pandemic with real-time payments surging by 104 percent.

The Bank of Thailand has been asked to review the ceiling of interest rates and supervise credit cards, personal loans and car loans, as the Thai government has vowed to tackle high household debt, incurred by credit card and personal loans.

Notwithstanding border restrictions, the region’s digital payments ecosystem is growing as countries collaborate to connect their domestic payment systems.

Singapore residents are increasingly adopting digital payments due to the COVID-19 pandemic, according to a GlobalData report.

Singapore is planning an online and physical fintech festival amid the spread of the coronavirus across the globe.

The global fintech challenge aims to offer solutions that can help financial institutions grapple with the existential threats posed by COVID-19 and climate change.