CIMB Bank Partners With ACI Worldwide to Modernize its Payments Platform
Weekly APAC news up to Wednesday, 28th of May 2025.
👀 NEWS HIGHLIGHT
CIMB Bank, a major banking group in the ASEAN region and Malaysia’s second-largest financial services provider, has selected ACI Worldwide to implement a new payment solution.
The partnership involves deploying ACI’s ISO 20022-native platform to unify all account-to-account transactions including real-time, ACH, RTGS, and cross-border payments onto a single system.
The platform will first be launched in Malaysia and will serve as the foundation for CIMB Group’s regional payments infrastructure.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🧋 REGIONAL HIGHLIGHTS
⭐️ Groww Confidentially Files Draft Papers For IPO.
⭐️ UAE’s Gainz raises funds to address the $200B SME financing gap in MENA.
⭐️ D360 Bank welcomes one million customers in four months.
⭐️ India and UAE redefine cross-border payments with UPI integration.
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AUSTRALIA 🇦🇺
Go FinTech eyes Australian expansion as global push for inclusive AI-driven finance accelerates. The company aims to collaborate with financial institutions and regulatory bodies to implement AI-driven systems, enhancing financial inclusion for underserved communities.
ANZ Bank plans to use AI agents to boost productivity. Initially, AI agents will assist business bankers by generating company and sector reports to improve client meeting prep and engagement. Future uses may include automating tasks like triaging loan applications.
Zeller app launches mobile invoicing to tackle $115 bn debt to reduce late payments for Australian small and medium-sized businesses. The update introduces invoicing capabilities, allowing business owners to create, send, manage, and track invoices directly from their smartphones.
UNITED ARAB EMIRATES 🇦🇪
Emirates Development Bank launches Fee-Free Digital Banking Platform to support UAE entrepreneurs. From a single app, entrepreneurs will be able to manage payroll, invoicing, and payments, monitor cash flow, and access a growing suite of value-added services.
Bybit enables direct global stock trading with USDT. This innovation unlocks direct trading of 78 of the most sought-after global equities, all powered by USDT. Users can now tap into traditional markets like stocks, gold, oil, indices, and forex, without fiat onboarding or leaving the crypto ecosystem.
CHINA 🇨🇳
Ant International launches tokenised deposit solutions for real-time treasury management with HSBC. The service will support treasury management with real-time, always-on HKD and USD payments between corporate wallets held by a corporate client at HSBC Hong Kong.
INDIA 🇮🇳
Indian tech firm Zoho announces $5m UAE FinTech deal. Zoho’s tools will support operations like invoicing, workforce management, and customer engagement, with integration options for various payment gateways. Keep reading
Digital Payments rise 35% and RBI’s E-rupee gains traction. The central bank highlighted a sharp rise in the adoption of the digital rupee or central bank digital currency (CBDC), known as eRs, indicating increasing acceptance in both retail and wholesale financial sectors.
Getepay receives RBI approval to operate as an online payment aggregator. The digital payment platform has secured final authorisation from the RBI to operate. Aiming to empower SMEs, particularly in Tier 2, Tier 3, and rural areas, it plans to scale its operations and broaden its merchant offerings across India.
Lightspeed joins $20m series B for Indian wealthtech firm. The funding will be used for capital expenditure, marketing, and general corporate purposes. The platform lets users compare, invest in, and manage fixed-income products, including bank fixed deposits.
INDONESIA 🇮🇩
Indonesia’s QR payment system to launch in Japan and China starting Aug 17. The rollout in Japan depends on technical preparations, including sandbox trials with Japan’s payment authority. In China, technical and operational agreements have been finalized.
MOVERS & SHAKERS
Paytm appoints Ramana Kumar as CEO for Middle East Operations. In his new role, Kumar will lead product localisation and regional ecosystem integration, leveraging Paytm’s experience with mobile payments, QR codes, and Soundbox devices that have transformed India’s payment landscape.