With this, a handful of fintech companies in Singapore may soon turn into digital banks

MAS opens digital banks application process [DealStreetAsia]

A handful of fintech companies in Singapore may soon turn into digital banks as the city-stake kicks off an application process wherein five new digital bank licences will be doled out.

According to a statement by the Monetary Authority of Singapore (MAS), applications officially opened today and will close at the end of this year (December 31, 2019).

Names of selected companies will be announced in mid-2020, and they will be expected to begin operations in mid-2021.

This follows an earlier June announcement by MAS’s senior minister and chairman, Tharman Shanmugaratnam, wherein he had indicated plans to issue up to two “digital full bank” licenses and three “digital wholesale bank” licenses in the city state.

Send mail from your home with Pos Malaysia’s new service [The Star]

You no longer need to go to the post office to send packages, thanks to Pos Malaysia Berhad’s new online shipping platform SendParcel.

SendParcel, a service under Pos Laju, allows users to book deliveries and generate shipping labels or consignment notes online, and for e-commerce businesses even make bulk orders.

The consignment note is generated once a booking is made, with customers required to print it out and then attach it to the parcel.

To use it, customers need to sign up for an account on Pos Malaysia’s website, then buy a credit package.

Flywire, VPBank Partner on international tuition payments for Vietnamese students [press release]

Flywire and Vietnam Prosperity Bank (VPBank) today announced a new partnership that aims to simplify international tuition payments for Vietnamese students.

By partnering with VPBank, Flywire enables Vietnamese students to make their international tuition payments in VND, via their preferred method, including bank transfers, which are very popular in Vietnam.

The joint offering also provides an intuitive, digital workflow for the submission of the necessary documentation required by local regulations. Previously, this process was highly manual, and student payment options were very limited.

Flywire offers a tuition payment platform for international students and schools. The platform provides a single point of management and payer engagement from billing and payment through reconciliation.

IIX, Australia’s DFAT launch EquityScale programme [press release]

Impact Investment Exchange (IIX) and the Australian government’s Department of Foreign Affairs and Trade (DFAT) announced today the launch of the EquityScale program, which aims to mobilise US$10 million in private sector capital to support impact enterprises that are improving the lives of underserved women in Asia Pacific.

EquityScale leverages IIX’s ecosystem and gender-focused approach to provide enterprises, investors, professional individuals and corporates with access to online training, resources, and networks to apply a gender lens to their business approaches.

The programme also invites impact enterprises to apply for the Future 500 Fellowship program for the chance to access capital raising support, mentoring, technical assistance, and corporate partnerships.

LamboPlace launches new e-commerce marketplace in Malaysia [press release]

LamboPlace, a new player in the e-commerce industry, officially launches its online marketplace.

Established in 2018, the company looks to offer genuine, high-quality and trusted products to Malaysian consumers. LamboPlace looks to achieve this through the curation of lifestyle products based on current trends, and partnering with key brands to deliver a unique experience in online shopping.

“Amidst the various products available on numerous e-commerce marketplaces today, LamboPlace wants to provide savvy Malaysian shoppers access to their preferred and trusted brands. Through our carefully curated merchant list, we look to offer all our users the peace-of-mind to shop with us for original lifestyle products. We believe that the consumption habits locally have changed, and we want to better reach customers and become the key platform for those looking to create their unique, personal style,” Jason Yap, CEO of LamboPlace.

LamboPlace currently features close to 300 brands including popular market players such as Sony, Sharp, and Pensonic.

The post Today’s top tech news, Aug 29: MAS opens digital banks application process appeared first on e27.