Fintech
Super-app, moomoo, is the only investment platform to break through top five most downloaded finance apps in Singapore in 2021 since its launch
Investment super-app moomoo today marks one year since its entry into the Singapore market by announcing that it is the only one-stop investing platform to break through the top five most downloaded apps in the finance category in both the Apple App Store and Google Play Store in year 2021, since its launch on 8 March, 2021.
Futu Singapore (Futu SG), a subsidiary of the Nasdaq-listed and Tencent-backed Futu Holdings (Futu), offers investment products for trading via moomoo.
The rest of the top five mobile apps in the finance category in this period (8 March 2021 to 31 Dec 2021) include digital banking apps, as well as apps for mobile payment and wallets. This makes moomoo the only investment platform that offers a range of financial products for trading to be among the top five most used apps among Singapore residents in that mix.
Official launch of moomoo in Australia
As a global brand, moomoo has been growing at high-speed in Singapore and the United States (US). It also officially debuted in the Australian market on 8 March, 2022, offering investors in Australia access to stocks and Exchange Traded Funds (ETFs) trading in both the US and Australian markets. Further support will be available for trading in Singapore shares, Hong Kong shares, and A-shares.
Futu SG (moomoo) receives strong recognition from SGX and investors
Since its March 2021 launch, Futu SG (moomoo) has been expanding rapidly in Singapore, acquiring 220,000 registered users within the first three months, among which 100,000 were paying clients. There is also high-quality expansion. Its penetration into Singapore’s high-income, well-educated population has steadily increased, with assets under management (AUM) of its Singapore clients recording a 52.4% increase in Futu’s latest financial results in 3QFY21 as compared to the previous quarter.
Moomoo is now one of the fastest-growing digital investment platforms in the region, with also a rising number of young Singaporean investors. In as early as 3QFY21, moomoo already secured its place among the top three financial apps in terms of download volume in Singapore.
In its two Singapore offices at One Raffles Quay and Singapore Business Federation Centre, they house a talented team of employees across various departments from business development and marketing communications to risk and compliance. The Futu SG (moomoo) team is focused on gaining insights into the pain points of Singapore’s investors and providing services that better cater to their needs.
While gaining ground in the Singapore market, moomoo and Futu SG have also made achievements in acquiring licenses and qualifications, laying a solid foundation for product optimisation and business expansion. On 10 February, 2022, Futu SG announced that it had obtained approvals-in-principle approval for full Singapore Exchange (SGX) memberships, making it the first digital brokerage company in the industry to achieve this. In addition, Futu SG also obtained the “Exempt Financial Adviser” status.
The range of licenses and qualifications will make moomoo the first full-service digital investment platform in Singapore, as it further expands its product and service offerings to enhance the user experience.
In 3QFY21, moomoo also officially launched fund products in Singapore, partnering with internationally renowned financial institutions to meet the discerning needs of more Singaporean investors.
Innovative approaches to promoting financial literacy in Singapore
In the past year, moomoo has also made “social investing” a stir by providing an interactive, real-time online community that supports learning among Singaporean investors. Now, a growing number of Singapore investors are watching investment courses, acquiring investment knowledge, exchanging experiences and insights with other investors from around the world on the in-app “moo” community.
Futu SG is also committed to promoting investor training and has become the advocate and leader of local investor training. By 3QFY21, moomoo has posted 249 new investment training videos and illustrations, covering 40 courses and topics. At the same time, moomoo has also joined hands with SGX and many financial institutions to organise a variety of investment training events, co-organising seminars and paper trading competitions, to meet investors’ needs for practical learning.
Gavin Chia, Managing Director of Futu SG (moomoo), said: “While we look back on the many industry-leading milestones we achieved in the past year, we are not resting on our laurels. Now that we have built a strong foundation in the first year of our business in Singapore, we are better primed to offer investors in Singapore a smarter, faster, and reliable investing experience in the many years ahead. The investing landscape is still rapidly evolving in this digital era, and we will continue to lead trends as well as predict needs and wants of investors.
“As an online investment platform founded in Silicon Valley, moomoo has always been holding dear to Futu’s founding vision of ‘Make Investing Easier,’ going global by leveraging cutting-edge technologies, and providing smarter investing tools and resources to all our markets around the world. Futu will make further progress into Singapore to benefit all investors.”
Appendix
Futu Singapore’s one-year anniversary milestones (8 March 2021 to 8 March 2022)
March 2021: Official launch of Futu Singapore Pte. Ltd.
May 2021: Futu SG won the Fintech Award at Singapore Business Review Technology Excellence Awards 2021
June 2021: moomoo starts offering a dedicated local customer service hotline in Singapore to support 24-hour service on trading days and 12-hour service on non-trading days for the ultimate online product experience and localised customer service
June 2021: Futu SG gained 100,000 paying clients in Singapore market, and 200,000 residents have opened an account with moomoo
July 2021: Futu SG held an in-app paper trading competition on moomoo for a three-month period from July to Aug 2021, that saw 15,000 unique participants from Singapore each month
Aug 2021: Futu SG announced that trading of SGX stocks on moomoo is up six-fold since its March 2021 launch
Aug 2021: Futu SG employed nation-wide “Learn & Earn” campaign which encouraged creative, rewards-based learning, and it concluded with over 70,000 participants in Singapore who attempted quizzes that test their investment-related knowledge. These participants made a total of close to 1.9 million attempts at the quizzes.
Aug 2021: Futu SG released branding campaign video online and on out-of-home advertising channels, with the former recording over 1 million views on YouTube
Sept 2021: Futu SG kicked off partnership with SGX to promote financial literacy, and held first joint webinar
Sept 2021 (3QFY2021): Singapore client assets placed with moomoo increased by over 50 per cent in three months, as compared to last quarter
Sept 2021 (3QFY2021): moomoo has become one of the fastest-growing investment platforms, consistently ranking among top three finance apps by download volume on Apple App Store and Google Play Store
Oct 2021: Futu SG partnered leading e-commerce platform, Shopee, in one-of-its-kind partnership for its 10.10 campaign
Dec 2021: moomoo is the top five most downloaded finance apps on both Apple App Store and Google Play Store in year 2021, since it was launched in Singapore
Jan 2022: Futu SG raised the highest amount of capital for Nikko Asset Management for the listing of the NikkoAM-StraitsTrading MSCI China Electric Vehicles and Future Mobility ETF, which makes it the top placement agent among other brokers in Singapore
Jan 2022: Kicked off SUSS Invest x Futu SG (moomoo) Portfolio Management Challenge to promote financial literacy, that saw over 250 participants across Universities in Singapore
Feb 2022: First digital brokerage to receive approvals-in-principle for all SGX memberships
March 2022 and beyond:
Futu SG has built up a vibrant, inclusive and supportive in-app social community on moomoo over the past year, and leads the trend of social sharing in the investment world. Singapore users of moomoo are actively exchanging insights, discussing investment-related topics, and helping one another along their investment journey.
Futu SG to continue to lead the industry to revolutionise the investing landscape for all with the moomoo investment super-app.
SOURCE Futu Singapore Pte. Ltd.
Fintech
Fintech Pulse: Daily Industry Brief – A Dive into Today’s Emerging Trends and Innovations
The fintech landscape continues to redefine itself, driven by innovation, partnerships, and groundbreaking strategies. Today’s roundup focuses on the latest digital wallet offerings, evolving payment trends, strategic collaborations, and notable funding achievements. This editorial explores the broader implications of these developments, casting light on how they shape the future of fintech and beyond.
Beacon’s Digital Wallet for Immigrants: A Gateway to Financial Inclusion
Beacon Financial, a leading player in financial technology, recently launched a digital wallet tailored to meet the unique needs of immigrants moving to Canada. This offering bridges a critical gap, enabling seamless financial integration for newcomers navigating a foreign system.
By combining intuitive technology with user-centric features, Beacon aims to empower immigrants with tools for payments, savings, and remittances. This aligns with the growing demand for tailored financial products that resonate with specific demographics.
Op-Ed Insight:
Financial inclusion is more than just a buzzword; it’s a moral imperative in the fintech space. Products like Beacon’s digital wallet highlight the industry’s potential to create tangible change. As global migration trends increase, such offerings could inspire similar initiatives worldwide.
Source: Fintech Futures.
Juniper Research Highlights 2025’s Payment Trends
Juniper Research’s latest report unveils pivotal payment trends poised to dominate in 2025. Central themes include the adoption of instant payment networks, a surge in embedded finance solutions, and the rise of crypto-backed financial products.
The research underscores the rapid adoption of real-time payment systems, fueled by increasing consumer demand for speed and efficiency. Meanwhile, embedded finance promises to blur the lines between traditional banking and non-financial services, delivering personalized and context-specific solutions.
Op-Ed Insight:
As the lines between financial services and technology continue to blur, these trends emphasize the industry’s shift toward convenience and personalization. The growing role of crypto-based solutions reflects an evolving consumer mindset, where decentralization and digital-first experiences gain precedence.
Source: Juniper Research.
MeaWallet and Integrated Finance Partner to Revolutionize Digital Wallets
MeaWallet, a prominent fintech solutions provider, has partnered with Integrated Finance to advance digital wallet capabilities and secure card data access for fintech companies. This collaboration focuses on empowering fintechs to deliver better, safer digital payment experiences.
MeaWallet’s role as a technology enabler aligns seamlessly with Integrated Finance’s goal of simplifying complex financial infrastructures. Together, they aim to create scalable, robust platforms for secure payment solutions.
Op-Ed Insight:
Partnerships like this underscore the importance of collaboration in driving innovation. As security concerns grow in tandem with digital payment adoption, solutions addressing these challenges are essential for maintaining consumer trust. The fintech ecosystem thrives when synergy and innovation coalesce.
Source: MeaWallet News.
Nucleus Security Among Deloitte’s Fastest-Growing Companies
Nucleus Security has achieved a remarkable milestone, ranking 85th on Deloitte’s 2024 Technology Fast 500 list. This achievement is attributed to its robust cybersecurity solutions, which cater to the increasingly digital fintech environment.
With cyberattacks becoming more sophisticated, fintech companies are under immense pressure to safeguard their platforms. Nucleus Security’s growth reflects the rising demand for comprehensive, scalable security solutions that protect sensitive financial data.
Op-Ed Insight:
In a digital-first world, robust cybersecurity isn’t optional—it’s fundamental. The recognition of companies like Nucleus Security signals the growing importance of protecting fintech infrastructure as the industry scales globally.
Source: PR Newswire.
OpenYield Secures Funding to Transform the Bond Market
OpenYield has announced a successful funding round, aiming to revolutionize the bond market through innovative technology. The platform promises greater transparency, efficiency, and accessibility in fixed-income investments.
This funding underscores the growing appetite for digitizing traditionally opaque financial markets. By leveraging cutting-edge technology, OpenYield seeks to democratize bond investments, making them accessible to a broader audience.
Op-Ed Insight:
The bond market, long viewed as complex and inaccessible, is ripe for disruption. OpenYield’s efforts to modernize this space highlight fintech’s transformative potential to democratize finance and empower individual investors.
Source: PR Newswire.
Key Takeaways: Shaping the Future of Fintech
Today’s developments underscore several critical themes in the fintech landscape:
- Personalization and Inclusion: Products like Beacon’s wallet highlight the importance of understanding and addressing specific user needs.
- Collaborative Ecosystems: Partnerships, like that of MeaWallet and Integrated Finance, emphasize the power of collaboration in solving industry challenges.
- Emerging Technologies: Juniper Research’s predictions affirm the continued influence of blockchain, embedded finance, and instant payment networks.
- Security at the Core: The recognition of Nucleus Security underscores the essential role of cybersecurity in fintech.
- Market Transformation: OpenYield’s funding signifies the ongoing disruption of traditional financial markets, paving the way for broader accessibility.
The post Fintech Pulse: Daily Industry Brief – A Dive into Today’s Emerging Trends and Innovations appeared first on News, Events, Advertising Options.
Fintech
Fintech Pulse: Industry Updates, Innovations, and Strategic Moves
As fintech continues to reshape the global financial landscape, today’s briefing highlights pivotal developments, strategic expansions, and innovative launches across the industry. This op-ed explores the latest advancements with commentary on their potential impacts and challenges.
Finastra Data Breach: A Wake-Up Call for Fintech Security
Source: KrebsOnSecurity
The cybersecurity landscape is buzzing after Finastra, one of the largest financial technology providers globally, confirmed an investigation into a potential data breach. Reports suggest unauthorized access to its systems, raising concerns about data security across its client base, which includes thousands of banks and financial institutions worldwide.
Implications and Challenges
While the details of the breach remain sparse, this incident underscores a glaring vulnerability in the fintech sector—cybersecurity. As financial services increasingly rely on interconnected ecosystems, breaches like these threaten not only individual institutions but also the trust customers place in fintech platforms.
The key takeaway for the fintech industry is clear: proactive cybersecurity strategies must go beyond compliance. Real-time threat detection, robust encryption standards, and regular audits are no longer optional but essential for maintaining operational integrity.
Future Considerations
This breach could trigger a domino effect, prompting regulators to tighten security standards and requiring fintech companies to double down on investments in data protection. Startups and mid-tier players, often lacking extensive cybersecurity budgets, may face significant pressure to keep pace.
PayPal Resurrects Money Pooling Feature
Source: TechCrunch
In a bid to stay ahead of the competition, PayPal is reintroducing its Money Pooling feature, a popular tool that was discontinued in 2021. The feature allows users to pool funds collectively, catering to families, small businesses, and social groups.
Strategic Revival
This move reflects PayPal’s commitment to customer-centric innovation. By reinstating a feature beloved by its user base, the company seeks to reclaim market share lost to emerging competitors offering similar functionalities.
Broader Industry Impacts
Money pooling represents a broader trend in fintech—customized solutions that cater to niche needs. This reintroduction may inspire competitors like Venmo and CashApp to refine their collaborative payment offerings.
While this move strengthens PayPal’s ecosystem, its success will depend on seamless integration with existing services and robust fraud prevention mechanisms to avoid abuse of the feature.
Santander Expands Fintech Reach in Mexico
Source: Yahoo Finance
Santander is making waves in the Latin American fintech space with the launch of a dedicated fintech unit in Mexico. The initiative aims to capitalize on Mexico’s growing fintech adoption and digital payments market, valued at billions of dollars annually.
Strategic Significance
Santander’s expansion into Mexico highlights the region’s untapped potential. Latin America is a burgeoning market for fintech, driven by increasing smartphone penetration, a youthful demographic, and demand for accessible financial services.
Challenges on the Horizon
While Mexico offers immense opportunities, regulatory complexities and market competition from local players like Clip and Konfío pose significant challenges. Santander will need to blend its global expertise with local adaptability to succeed in this dynamic market.
2024 Global Fintech Awards: Spotlighting Excellence
Source: PRNewswire
Benzinga has announced the winners of the 2024 Global Fintech Awards, honoring companies and individuals driving innovation in financial technology. This year’s winners spanned categories like blockchain, artificial intelligence, and payment solutions.
Recognizing Industry Leaders
Awards like these highlight the collaborative spirit and entrepreneurial drive fueling fintech growth. Recognizing trailblazers not only motivates incumbents but also inspires startups to push the boundaries of innovation.
What It Means for the Ecosystem
The awards also bring attention to emerging technologies. Categories such as blockchain and AI signal the industry’s continued focus on leveraging cutting-edge tech for efficiency and scalability.
Commonwealth Central Credit Union Partners with Jack Henry
Source: FinTech Futures
Commonwealth Central Credit Union (CCCU) has announced a partnership with Jack Henry, a leading financial technology provider, for a comprehensive tech upgrade. The collaboration focuses on enhancing member experience through improved digital services.
Modernizing Member Experiences
Credit unions have often lagged behind major banks in adopting advanced digital solutions. By partnering with Jack Henry, CCCU aims to bridge this gap, offering members streamlined services such as mobile banking, automated lending, and personalized financial tools.
A Growing Trend
This partnership reflects a broader trend in the financial industry—credit unions and smaller banks embracing fintech to remain competitive. As customer expectations evolve, partnerships like this may become the norm rather than the exception.
Key Takeaways for the Fintech Industry
- Cybersecurity is Critical: The Finastra breach underscores the need for robust security measures.
- Innovation Drives Loyalty: PayPal’s revival of its Money Pooling feature highlights the importance of listening to customers.
- Regional Opportunities: Santander’s expansion into Mexico showcases the untapped potential of emerging markets.
- Recognition Matters: Awards like Benzinga’s provide valuable visibility for companies and individuals shaping the industry.
- Partnerships Foster Growth: Collaborations between credit unions and fintech companies signify a trend towards modernized financial solutions.
The post Fintech Pulse: Industry Updates, Innovations, and Strategic Moves appeared first on News, Events, Advertising Options.
Fintech
Fintech Pulse: Milestones, Partnerships, and Transformations in Fintech
The fintech sector continues its relentless drive toward innovation and market dominance. Today’s highlights include a record-breaking customer milestone for Revolut, groundbreaking fintech solutions for women in the EU, open entries for the PayTech Awards 2025, implications of political shifts on funding, and notable recognition at the US FinTech Awards.
Revolut Hits 50 Million Customers: A Global Fintech Giant’s Milestone
Source: Revolut
Revolut, the UK-based financial super app, has achieved a monumental feat: surpassing 50 million customers worldwide. This milestone underscores its position as a leader in the global fintech landscape, furthering its ambition to create the world’s first truly global bank.
Key to this success has been Revolut’s strategy of expanding its offerings, from banking to travel and crypto services, all within a seamless user experience. The company’s recent ventures into emerging markets such as Latin America and Asia demonstrate its intent to bridge financial services gaps while retaining competitive differentiation through technology.
This milestone is not just a triumph for Revolut but a signal of fintech’s capacity to redefine traditional banking. It reinforces the narrative that digital-first strategies, customer-centric innovation, and international scalability can challenge long-standing financial institutions.
PayTech Awards 2025: Celebrating Excellence in Innovation
Source: FinTech Futures
The PayTech Awards 2025 are officially open for entries, promising to spotlight the brightest minds and most innovative projects in the payment technology sector. These awards are a testament to the industry’s commitment to advancing secure, seamless, and scalable payment systems.
This year, the focus is on emerging technologies that redefine how businesses and consumers interact financially. Categories will recognize achievements across multiple domains, including sustainability in payments, AI-driven solutions, and partnerships that push boundaries.
As fintech companies prepare their entries, the awards provide a timely reminder of the sector’s ongoing evolution and the collaborative efforts required to achieve meaningful breakthroughs.
U.S. Politics and the Fintech Sector: A New Era of Funding?
Source: American Banker
The U.S. fintech sector might witness an infusion of optimism as speculation about a second Trump presidency gains momentum. The Trump-era policies of deregulation and venture capital encouragement are remembered as catalysts for unprecedented fintech growth during his first term.
While it remains uncertain how regulatory landscapes will shift, the possibility of a more relaxed approach toward fintech compliance could rejuvenate funding inflows. Investors and startups alike are watching closely, weighing the potential benefits against long-term risks tied to reduced oversight.
A politically charged backdrop often spells volatility, but for fintech, it may also spell opportunity. Preparing to adapt quickly will be crucial for startups and established players in the face of any regulatory pivot.
Klara AI and Unlimit: Addressing the €1.3 Trillion Female Economy
Source: FF News
Klara AI has teamed up with Unlimit to launch a fintech solution aimed at empowering women across the EU. This collaboration targets the €1.3 trillion female economy by addressing the unique financial needs of women entrepreneurs and consumers.
The solution promises to integrate AI-powered tools with streamlined financial management services, enabling users to access credit, manage investments, and scale businesses effectively. By tailoring services to the underserved female demographic, the partnership hopes to drive financial inclusion and support economic growth.
This initiative stands as a blueprint for fintechs exploring niche markets, proving that innovation tailored to specific segments can yield transformative results.
Autire: Accounting Tech of the Year at US FinTech Awards
Source: Business Wire
Autire, a rising star in financial technology, has been crowned ‘Accounting Tech of the Year’ at the US FinTech Awards 2024. The award recognizes Autire’s ability to blend cutting-edge AI with intuitive user interfaces, delivering unparalleled accounting solutions for businesses of all sizes.
Autire’s platform has gained traction for automating complex accounting tasks, ensuring compliance, and delivering actionable insights through real-time analytics. Its emphasis on reducing administrative burdens for SMEs has been particularly impactful, enabling entrepreneurs to focus on growth rather than bookkeeping.
The recognition not only cements Autire’s reputation but also highlights the role of AI-driven accounting solutions in reshaping business operations globally.
Final Thoughts: A Fintech Revolution in Full Swing
From customer milestones to policy-driven opportunities, the fintech ecosystem is in constant evolution. Revolut’s ascent to 50 million users signals growing consumer trust in digital platforms. The PayTech Awards continue to inspire innovation, while political shifts could redefine the regulatory landscape. Initiatives like Klara AI and Unlimit emphasize the power of targeted solutions, and companies like Autire show how niche technologies can achieve broad impact.
The next phase of fintech growth will likely hinge on inclusivity, adaptability, and innovation—pillars that today’s news stories exemplify.
The post Fintech Pulse: Milestones, Partnerships, and Transformations in Fintech appeared first on .
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