Industry News

Southeast Asia’s payment startups have collectively raised over $2.7b in equity funding, according to a recent report by Tracxn. The report, released in July 2026, highlights 12 leading companies in the region, with Airwallex and Thunes accounting for approximately 83% of the total capital raised. Airwallex alone has secured $1.9b since its inception in 2015, including a $320m funding round in June 2026.

Singapore has emerged as the dominant hub for these startups, with nine out of the 12 companies headquartered in the city-state. The remaining companies are based in Indonesia and Vietnam. The report underscores the active funding environment, noting that four companies, including Airwallex, MetaComp, dtcpay, and Qashier, have secured funding rounds in 2026.

Tracxn’s ranking is based on cumulative disclosed equity funding, offering a snapshot of companies that have garnered significant investor interest. These startups are involved in various sectors, including cross-border payment networks, enterprise payment infrastructure, and digital asset-enabled payment capabilities.

The majority of the companies are in early funding stages, from Seed to Series A, indicating a robust pipeline of startups moving towards commercial scale. This trend highlights sustained investor interest in Southeast Asia’s payments ecosystem, as businesses increasingly adopt digital payment solutions to support e-commerce and financial operations.

Atome Financial, Southeast Asia’s leading digital financial services platform, has announced record audited results for the year ending 31 December 2025. The company achieved an 80% year-on-year increase in revenue, reaching $470m, and maintained profitability before tax for the second consecutive year. This growth was driven by an expansion in its loan book, broader merchant partnerships, and the rollout of new products.

The platform processed over $4b in Gross Merchandise Volume (GMV) in 2025, a 60% increase from the previous year. By June 2026, Atome Financial’s annualised net revenue had reached $800m, with GMV crossing $6b, reflecting a 64% year-on-year rise.

Key performance drivers included the successful adoption of Atome’s PayLater Anywhere Card, which surpassed 3 million issued cards in the Philippines and launched in Malaysia earlier this year. The company also enhanced operational efficiency through AI deployment in customer service, collections, and credit underwriting.

Atome Financial strengthened its funding base with a $81m facility from AUB in the Philippines and an upsized $345m syndicated facility to support regional growth. The company is part of the Advance Intelligence Group, backed by investors such as SoftBank Vision Fund 2 and Warburg Pincus.

These developments underscore Atome Financial’s robust growth trajectory and its commitment to expanding its digital financial services across Southeast Asia.

DFI Retail Group Holdings Limited has reported a 44% increase in underlying profit from continuing businesses for the first half of 2026, reaching US$117m. This marks a substantial turnaround from a US$38m loss in the same period last year. The group’s reported profit was US$118m, bolstered by a 3% like-for-like sales growth in its subsidiaries.

The Health & Beauty segment sustained strong sales, whilst Convenience and Home Furnishings returned to growth. Ecommerce and DFIQ Media contributed to approximately 35% of the sales growth. The group’s return on capital employed improved to 12%, up from 9% in December 2025. An interim dividend of US$0.620 per share was declared, a 77% increase year-on-year, maintaining a full-year dividend payout of 70%.

DFI Retail Group has also raised its full-year organic revenue growth guidance to between 30% and 40%, with underlying profit expected to be between US$285m and US$305m. The acquisition of Cody Hong Kong, a leading outdoor advertising solutions provider, is set to enhance DFIQ Media’s capabilities.

Scott Price, Group Chief Executive, stated, “Our first-half performance reflects the strength of our strategy in action—a sharper value for customers, a strong focus on returns, and execution with discipline.” The group plans to expand its GenAI-powered tools and AI capabilities across core retail functions to improve operational efficiency.

The group’s digital initiatives, including the DFI Omni Platform, have turned profitable, with ecommerce and DFIQ Media significantly contributing to revenue growth. The Health & Beauty division saw an 8% year-on-year sales increase, with Mannings and Guardian expanding their market share. The exclusive distribution partnership with Holland & Barrett will further enhance customer access to wellness solutions in Hong Kong and Singapore.

Overall, DFI Retail Group’s strategic focus on digital transformation and operational efficiency positions it well for sustainable long-term growth.

Markel Insurance has announced the appointment of Abbas Choker as Chief Financial Officer (CFO) for the Asia Pacific region, effective immediately. Based in Singapore, Choker will lead Markel’s finance operations across the region, supporting the company’s expansion efforts. He will report to Sucheng Chang, Managing Director, Asia Pacific, and collaborate with Andy Davies, Chief Financial Officer, International.

Choker brings over 20 years of experience in the insurance industry, having previously served as Regional Head of Financial Planning and Analysis at AIG. His extensive experience in finance leadership roles across Asia Pacific, including Australia and various Asian markets, positions him well to drive Markel’s commercial success and sustainable financial performance. His Arabic language skills will also aid Markel’s business in the Middle East and North Africa.

Sucheng Chang highlighted the strategic importance of the Asia Pacific region, stating, “Asia Pacific represents one of the most compelling growth opportunities in speciality insurance globally.” Chang expressed confidence in Choker’s ability to contribute to Markel’s ambitions in the region.

Andy Davies welcomed Choker, emphasising the importance of empowering regional finance leaders to support Markel’s international growth. “Abbas will play a key role in ensuring we have the financial capabilities, governance and insights required to capitalise on the market opportunity,” Davies said.

Markel Insurance, part of Markel Group Inc., is a global speciality insurer known for its people-first approach and deep relationships with clients and brokers.

A recent study by Tanium highlights significant financial losses for Southeast Asian businesses due to endpoint security issues. The State of Endpoint Management in ASEAN 2026 report surveyed 333 IT and security leaders across the region, revealing that 62% of organisations have experienced operational disruptions, resulting in downtime, data exposure, and revenue loss.

The report found that financial losses exceeded $1m for some organisations, with 46% losing more than $100,000. Despite 59% of respondents expressing high confidence in their device visibility, 43% admitted that over 10% of their endpoints remain unknown, unmanaged, or non-compliant. This gap in endpoint management is a critical concern, especially in sectors like healthcare, where legacy devices are increasingly integrated into networks.

Satyen Desai, RVP ASEAN at Tanium, commented on the findings: “Geopolitical conflict has gone digital, whilst AI is accelerating both innovation and attacks. The devices connecting it all are increasingly outside the visibility of the teams responsible for protecting them.”

The report also highlights that only 29% of organisations can detect critical issues within minutes, whilst 55% take hours to identify threats. This delay poses a significant risk, particularly in industries like telecommunications, where infrastructure failures can lead to prolonged disruptions.

With 79% of respondents planning to invest in new security solutions within the next year, the focus is on consolidating onto unified, real-time platforms to improve visibility and response times. Tanium’s full findings and recommendations are available on their website.

DBS has announced a significant upgrade to its AI-enabled virtual assistants, DBS Joy and DBS digibot, now serving over 10 million customers in Singapore, Hong Kong, and Taiwan. The enhancements introduce Generative AI and agentic AI capabilities, allowing these virtual assistants to handle more than one million chats monthly, streamlining banking tasks for retail, wealth, and corporate clients.

DBS Joy, tailored for corporate and SME customers, has become fully agentic in Singapore, enabling users to perform simple banking tasks through a single conversation. This feature will expand to Hong Kong in September and other markets thereafter. Meanwhile, DBS digibot, designed for individual customers, will soon offer wealth-related conversational capabilities and later integrate agentic AI to facilitate tasks like checking card usage and managing rewards points.

Derrick Goh, DBS Group Chief Operating Officer, stated, “The true value of AI lies in delivering meaningful outcomes for customers at scale. Today, DBS Joy and DBS digibot serve more than 10 million customers across the region, enabling us to bring Gen AI and agentic AI into everyday banking interactions.”

The advancements aim to make banking more intuitive and efficient, reducing the need for manual searches and enhancing customer satisfaction. DBS digibot’s integration into the digiWealth platform from August 2026 will further empower customers in wealth management, providing seamless access to tailored advice and banking solutions. As DBS continues to innovate, these AI capabilities are set to redefine customer service in the banking sector.

OCBC has introduced its agentic AI platform, HELIOS, to streamline the onboarding process for wealthy clients, reducing the time to open private banking accounts to 15 business days. This is a significant improvement from the industry median of six weeks. The platform, part of OCBC’s Next Frontier strategy, automates the collection and verification of customer data, completing much of the Know-Your-Customer (KYC) process before relationship managers engage with clients.

HELIOS’ intelligence-gathering capabilities allow for a more thorough and efficient due diligence process, maintaining high compliance standards. The platform also generates high-quality leads for relationship managers, a first for a bank in Southeast Asia. This initiative aligns with the Monetary Authority of Singapore’s goal to reduce account opening timelines to within one month by the end of 2026.

The rollout of HELIOS is underway in Singapore, Hong Kong, and Dubai, with completion expected by the third quarter of 2026. It will also extend to OCBC’s Premier Private Client segment by year-end. Loretta Yuen, OCBC’s Head of Group Legal and Compliance, highlighted the platform’s ability to identify potential concerns earlier and assess financial crime risks more holistically. Jason Moo, CEO of Bank of Singapore, noted that HELIOS provides a competitive edge by combining risk intelligence with business growth.

Beyond onboarding, HELIOS will support ongoing customer monitoring, enhancing risk management and compliance reviews. This development is part of OCBC’s broader investment in AI, digital, and data-driven growth, with plans to spend over $1b annually for the next three years.

ST Engineering has announced a significant achievement with the award of an $840m contract for the Taoyuan MRT Brown Line in Taiwan. The contract, granted by the Taoyuan City Government, is part of a consortium with Hyundai Rotem and marks a substantial expansion of ST Engineering’s involvement in Taiwan’s rail infrastructure, where it has been active for over 30 years.

The project will see ST Engineering taking charge of overall project management and systems integration. The company will also provide essential rail electronics solutions, including supervisory control and data acquisition (SCADA), communications systems, automatic fare collection, and platform screen doors. Hyundai Rotem will supply the rolling stock and power supply system. The project is set to commence in the fourth quarter of 2026 and is expected to be completed over an eight-year period.

Gareth Tang, President of Urban Solutions at ST Engineering, stated, “Transport agencies are increasingly seeking trusted partners who can seamlessly integrate technologies and systems whilst managing large-scale project delivery. This contract reflects our customer’s confidence in our ability to deliver large-scale rail infrastructure projects.”

The 11.38km Taoyuan MRT Brown Line will feature seven stations, providing a direct rail link between Taoyuan City and the Greater Taipei area, significantly enhancing connectivity and reducing travel times for commuters. This project adds to ST Engineering’s extensive portfolio, which includes over 200 rail projects across 50 cities worldwide, highlighting its expertise in delivering comprehensive rail solutions.

Mapletree Investments has announced the launch of its first China logistics Renminbi (RMB) core fund in collaboration with China Life Capital. The Mapletree China Logistics RMB Fund, valued at approximately RMB1.5b, comprises five stabilised logistics assets. This fund has attracted commitments from international insurance companies, underscoring the confidence in China’s logistics sector and Mapletree’s reputation as a leading logistics real estate developer.

The fund’s portfolio includes high-quality logistics assets located in Nanjing, Wuxi, and Chengdu, with a total leasable area of around 382,000 square metres and an average occupancy rate of 95%. These assets are strategically positioned in key economic regions, benefiting from robust market fundamentals and a diverse tenant base, including third-party logistics providers and e-commerce operators.

Mapletree’s Regional Chief Executive Officer for China, Goh Chye Boon, stated, “The successful launch of the Mapletree China Logistics RMB Fund underscores our ability to grow our domestic investor base in China by unlocking value from stabilised logistics assets.”

The fund marks Mapletree’s first RMB fund in China, combining the expertise of a leading state-owned institutional investor with Mapletree’s asset management capabilities. It aims to deliver stable recurring income and long-term value through proactive asset management and capital recycling strategies.

Mapletree’s commitment to sustainability is evident, with all five properties in the fund incorporating renewable energy solutions and achieving LEED certifications. This initiative is part of Mapletree’s broader strategy to optimise its portfolio and unlock value for investors, further solidifying its position in China’s logistics real estate market.

A new study by Russell Reynolds Associates (RRA) reveals that 58% of C-suite leaders in Asia Pacific (APAC) view technological change and geopolitical uncertainty as the joint top threats to their organisations. The findings, drawn from RRA’s H1 2026 Global Leadership Monitor, highlight significant gaps in leadership preparedness across the region.

Despite the prominence of geopolitical risks, only 36% of APAC leaders feel equipped to handle such volatility. Similarly, whilst 44% recognise talent and skills availability as a major threat, just 33% feel prepared to address it. The study also notes a disparity in enthusiasm and execution regarding Generative AI (GenAI); although 94% of leaders see it as crucial, fewer than 40% report its use in daily operations.

The research underscores the importance of soft skills over technical expertise, with strategic thinking (57%) and change management (29%) identified as critical capabilities. However, next-generation leaders face challenges in career progression, with only 40% seeing a clear path forward in their current roles.

Country-specific insights reveal varying concerns: in Greater China, geopolitics is the highest threat (73%), whilst Japan struggles with talent preparedness (27%). In Singapore, cyber readiness is high (87%), yet GenAI skills lag at 20%.

The study suggests that APAC leaders must bridge the gap between AI strategy and execution and address the high mobility of top-tier talent, driven by cultural alignment and career advancement rather than compensation alone.