Industry News

A recent survey conducted by UnaFinancial across Singapore, the Philippines, Vietnam, and Indonesia reveals that 84% of Southeast Asians trust fintech services. Singapore leads with a remarkable 92% of respondents expressing confidence in these platforms. The survey highlights that the primary factors influencing trust include the security of financial data, transparent fees and terms, and brand reputation.

In Singapore, 91.8% of consumers trust fintech services, with transparency, data security, and brand reputation being the main drivers. The Philippines follows closely with 88.1% trust, where brand reputation plays a significant role. Vietnam reports the highest percentage of respondents with high trust at 37.2%, emphasising data security and transparent fees. Meanwhile, Indonesia shows a larger neutral segment, with 29.4% highly trusting fintech services, focusing on transparency and security.

UnaFinancial analysts note that regional trust in fintech is bolstered by growing digitalisation and market familiarity. They attribute Singapore’s leading position to its widespread smartphone and internet access, strong digital literacy, and routine interactions with online services. As fintech continues to evolve, these insights underline the importance of security, transparency, and reputation in fostering consumer trust across Southeast Asia.

Omise, a prominent provider of online payment solutions in the Asia-Pacific region, has unveiled Omise MCP, a new infrastructure that allows AI agents to autonomously manage financial tasks. This development enables businesses to connect AI systems to over 60 Omise payment tools securely, without the need for custom API integrations.

The introduction of Omise MCP signifies a shift from passive payment gateways to intelligent, automated financial systems. Jun Hasegawa, Founder and CEO of Omise, stated, “With Omise MCP, we’re not just enabling AI to observe payments, we’re enabling it to operate them.” This innovation allows AI agents to execute complex financial tasks such as transaction management, refunds, and operational reporting autonomously.

Built on the Model Context Protocol (MCP), Omise MCP provides a secure, two-way integration for AI agents and large language models (LLMs) to interact with payment systems. This infrastructure ensures financial-grade reliability, as emphasised by Amborish Acharya, Group Chief Technology Officer of Omise, who noted that the foundation is “secure, predictable, and fault-tolerant at scale.”

Omise MCP offers access to a comprehensive suite of payment tools, allowing AI agents to perform actions like accepting payments across various platforms and automating time-intensive tasks. This advancement marks a significant step towards a future where payments are not only digital but also intelligent and adaptive.

Founded in 2013, Omise operates in Thailand, Singapore, Malaysia, Japan, and the United States, and is recognised among the top 25 payment processors in the US. The company remains committed to fostering an inclusive and sustainable digital economy through secure and innovative solutions.

A recent survey conducted by UnaFinancial across Singapore, the Philippines, Vietnam, and Indonesia reveals that 84% of Southeast Asians trust fintech services, with Singapore leading at 92%. The survey highlights that the primary factors influencing trust include the security of financial data, transparent fees, and brand reputation.

In Singapore, 91.8% of respondents expressed trust in fintech platforms, with 69.1% somewhat trusting and 22.1% highly trusting these services. Key drivers of trust in Singapore include transparency of fees and terms (60.3%), security of financial data (58.8%), and brand reputation (57.4%). Recommendations from family and friends also play a role, influencing 35.3% of respondents.

The Philippines follows with 88.1% of respondents expressing trust, where brand reputation is particularly significant, affecting 73.8% of participants. In Vietnam, 37.2% of respondents report high trust, with data security being the most critical factor for 76.9% of them. Indonesia shows a more varied trust landscape, with 29.4% highly trusting and 22.4% remaining neutral, emphasising transparency and security.

UnaFinancial analysts note that regional trust is bolstered by growing digitalisation and market maturity. Singapore’s high trust levels are attributed to widespread smartphone and internet access, strong digital literacy, and familiarity with online services. As fintech continues to evolve, these factors are expected to further influence consumer trust across Southeast Asia.

BuzzFeed Asia has teamed up with Taboola to launch DeeperDive, a pioneering AI answer engine, across its platforms in Singapore, Malaysia, and the Philippines. This innovative tool aims to transform the reader experience by providing instant, conversational answers sourced from BuzzFeed’s content and Taboola’s real-time insights.

DeeperDive is designed to increase user engagement by offering smarter, trend-aware responses and encouraging deeper exploration of content. It also opens new revenue streams through contextually relevant advertising embedded within AI-powered results. Unlike traditional AI engines, DeeperDive utilises insights from 600 million daily active users and 9,000 publisher partners, ensuring timely and relevant answers.

Scott Mackenzie, CEO of BuzzFeed Japan & Asia, expressed enthusiasm about the partnership, stating, “We’re thrilled to expand BuzzFeed’s on-site functionality for our readers, grow user engagement, and open up new revenue opportunities.” Adam Singolda, CEO and Founder of Taboola, highlighted the innovation, saying, “BuzzFeed Asia is offering content to readers in a completely new, appealing, and innovative way.”

The introduction of DeeperDive is expected to significantly increase readership and engagement by providing clear, intuitive answers and links to relevant articles. This initiative marks a step forward in leveraging AI technology to enhance the digital content landscape, offering publishers a new avenue for growth and monetisation.

Companies across the Asia-Pacific (APAC) region are increasingly appointing internal candidates as CEOs, according to the latest Global CEO Turnover Index by Russell Reynolds Associates. This trend, observed in the first three quarters of 2025, shows that 83% of new CEO appointments in APAC are internal promotions, compared to 72% globally. The preference for internal candidates is seen as a strategic move to maintain stability and leverage institutional knowledge amidst a turbulent global business environment.

The report highlights a significant rise in first-time CEOs, with 97% of new hires in APAC being first-time leaders, reflecting a global trend where 88% of CEO appointments are first-timers. This shift suggests that boards are valuing fresh perspectives to navigate ongoing market complexities. Euan Kenworthy, leading Russell Reynolds Associates Southeast Asia operations, emphasised the importance of developing internal talent, stating, “For internal succession to succeed, organisations must proactively identify and develop high-potential talent.”

APAC has recorded 59 CEO departures so far in 2025, with Japan accounting for nearly half. The average tenure for outgoing CEOs in the region is now 5.9 years, shorter than the global average of 7.2 years. Notably, Singaporean CEOs have longer tenures, averaging 8.8 years, whilst Hong Kong sees shorter tenures at 3.7 years. This trend towards shorter tenures may be driven by the need for agility in response to rapid market changes and regulatory shifts.

As APAC companies continue to adapt to an evolving business landscape, the focus on internal leadership development and the rise of first-time CEOs highlight a commitment to agility and innovation, crucial for sustainable growth in uncertain times.

Brookfield Asset Management, a global investment firm managing over $1t in assets, has announced its inaugural investments in renewable energy across the Philippines, Vietnam, and Thailand. The firm has acquired Alba Renewables, a clean energy developer with a portfolio of 1.8 gigawatts (GW) in wind, solar, and battery storage assets, primarily located in the Philippines and Thailand.

The acquisition marks a significant step in Brookfield’s strategy to establish a decarbonisation platform in Southeast Asia, a region increasingly focused on transitioning to sustainable energy sources. The move aligns with global efforts to reduce carbon emissions and combat climate change, positioning Brookfield as a key player in the region’s renewable energy sector.

Finergreen, a financial advisory firm, supported Alba Renewables throughout the acquisition process, facilitating the transition and ensuring a smooth integration into Brookfield’s expanding portfolio.

This strategic investment underscores Brookfield’s commitment to sustainable development and its role in advancing clean energy initiatives in Southeast Asia. The firm’s focus on renewable energy is expected to contribute significantly to the region’s energy transition, promoting economic growth whilst reducing environmental impact. As Brookfield continues to expand its renewable energy investments, further developments in the sector are anticipated, potentially leading to increased energy security and sustainability in the region.

Singapore’s banks are emerging as early movers in Asia’s protein transition, according to a new benchmark released by Asia Research & Engagement (ARE). The report, titled “Banking Asia’s Protein Transition: Financing the Shift Towards Responsible and Sustainable Food and Agriculture Systems,” evaluates 24 major banks across Southeast Asia and India. It highlights Singapore’s DBS, UOB, and OCBC for their responsible-lending frameworks and deforestation-exclusion principles, though none have set measurable financing targets for plant-based proteins or other sustainable initiatives.

The benchmark underscores the importance of aligning food and agriculture lending with climate and nature targets. Kate Blaszak, ARE’s Director of Protein Transition, stated, “This benchmark provides a constructive starting point for banks to build understanding of intersectional risks in this critical sector.”

Whilst Singaporean banks have made strides, the report identifies significant gaps in sustainable finance. It calls for enhanced transparency and increased support for plant-based proteins, humane production, and deforestation-free supply chains. The report also notes that banks in Malaysia, Thailand, Indonesia, the Philippines, and India are at varying stages of integrating sustainability into their frameworks.

ARE emphasises the potential for banks to drive sustainable food production by adopting comprehensive responsible lending frameworks. Blaszak added, “Banks that act early can reduce systemic risks and unlock new sources of value.” The report suggests that by learning from regional peers and international models, Asian banks can play a pivotal role in the protein transition.

The Asia-Pacific region is poised for a substantial increase in 5G subscriptions, with numbers expected to surge from 2.7 billion in 2025 to 4.6 billion by 2030, according to GlobalData. This growth, at a compound annual growth rate (CAGR) of 11.4%, is attributed to the rapid adoption of affordable 5G devices and ongoing network rollouts in countries like India, Malaysia, and Thailand, alongside upcoming service launches in Pakistan and Sri Lanka.

Government initiatives and enterprise digital transformation efforts are accelerating 5G adoption across the region. Sarwat Zeeshan, a Telecom Analyst at GlobalData, highlighted that “government initiatives, enterprise digital transformation efforts, and growing demand for high-performance connectivity needed for evolving applications areas like smart manufacturing, autonomous mobility, cloud gaming, etc are accelerating standalone 5G deployments and driving 5G service adoption in the region.”

Countries such as Australia, China, India, South Korea, Japan, and Taiwan have implemented national 5G strategies to expand coverage and foster technological innovation. China, in particular, is set to remain the largest 5G market globally, with 75% of its mobile subscriptions expected to be on 5G by 2029, driven by significant investments and regulatory efforts to extend coverage to rural areas and industrial parks.

The expansion of 5G networks presents lucrative opportunities for telecom operators, enabling them to offer premium services and enterprise connectivity solutions. The integration of 5G with emerging technologies like AI and IoT is expected to drive innovation and growth in sectors such as health, manufacturing, and mining. Zeeshan concludes, “APAC has become the centre of the technological race for 5G+ supremacy.”

Manulife has announced significant leadership changes to strengthen its Global High-Net-Worth (GHNW) business and distribution capabilities across Asia. Effective 1 December 2025, Bonnie Qiu will become CEO of Global High-Net-Worth and Chief Partnership Distribution Officer, Asia. Currently the Chief Distribution Officer for Asia, Qiu will lead the high-net-worth business and continue overseeing partnership distribution, including bancassurance, international brokerage, and digital channels.

In a seamless transition, Qiu will work closely with Jean Wong, the current CEO of GHNW, who is set to retire in Q2 2026 after nearly 30 years with Manulife. Wong’s tenure saw the formation of GHNW in 2023 and the company’s entry into the Middle East market, establishing a Dubai office in the Dubai International Financial Centre.

Additionally, Rishi Srivastava, Chief Agency Officer, Asia, will join Manulife Asia’s senior leadership team immediately. Srivastava has been pivotal in advancing Manulife’s agency transformation strategy, focusing on training, recruitment, and technology to enhance productivity.

Both Qiu and Srivastava will report to Steve Finch, President and CEO of Manulife Asia. Finch remarked, “These leadership changes underscore our commitment to building a strong foundation for achieving high-quality, sustainable growth.”

With these appointments, Manulife aims to accelerate its strategic priorities and reinforce its leadership across the region, positioning itself for continued success in the evolving financial landscape.

Lazada, a leading eCommerce platform in Southeast Asia, has unveiled findings from a Cube Asia study highlighting a significant shift towards authenticity-driven, quality-first eCommerce in the region. The study, released at the LazMall Brand Gala, indicates that the market for authenticity-driven eCommerce is expected to grow from 12% in 2020 to 55% by 2030, reaching a value of $150b.

The survey, which included 6,000 consumers across Singapore, Malaysia, Indonesia, Thailand, the Philippines, and Vietnam, found that 90% of online shoppers are engaging with Mall environments, reflecting a growing demand for trusted and quality products. Lazada’s brand-led strategy, anchored in its LazMall ecosystem, positions the platform to capture this market potential.

Key findings reveal that 90% of consumers are willing to pay a premium for authentic brand goods, with 31% prepared to pay 10–30% more. The study also identifies three dynamics driving this eCommerce surge: widening product assortment, omnichannel integration, and the use of AI in product discovery and comparison.

Lazada’s recent performance underscores its strategic success, with a 53% increase in million-dollar GMV brands since 9.9 and a 39% GMV uplift during the 11.11 sale. The platform’s average revenue per user rose by 70%, with buyer penetration reaching 65%.

As Southeast Asia enters a “Confidence Commerce” phase, Lazada’s strategy is set to lead the market towards a future defined by higher consumer expectations and authenticity guarantees. Iris Wei, President of Lazada Group, stated, “The findings from Cube Asia validate Lazada’s brand-led strategy and reinforce our commitment to building a high-trust, quality-first ecosystem.”