10 Best Fintech Companies Supporting Digital Banking Transformation in Singapore

Fintech companies are reshaping traditional banking through digital platforms, automation, data-driven services, and customer-centric experiences. Rather than disrupting banks outright, fintechs increasingly collaborate with financial institutions to modernize core systems, improve customer journeys, and introduce new digital capabilities. This article highlights leading fintech companies supporting digital banking transformation in Singapore and explains what makes them stand out in an increasingly competitive landscape.

Highlights

• Fintech companies play a critical role in accelerating digital banking transformation in Singapore.
• Collaboration between banks, fintechs, and regulators enables secure, compliant, and scalable innovation.
• Leading fintech companies support digital onboarding, payments, lending, compliance, and data-driven banking services.

Understanding the Role of Fintech Companies in Digital Banking

Fintech companies are technology-driven organizations that develop digital solutions to improve financial services such as payments, lending, customer onboarding, risk management, and compliance. In modern banking ecosystems, fintechs act as innovation partners, helping banks adopt new technologies faster and respond to changing customer expectations.

Rather than replacing traditional banks, fintech innovation complements existing banking capabilities. Banks bring trust, regulatory expertise, and scale, while fintech companies contribute agility, advanced technology, and customer-focused design. This collaborative model is particularly strong in Singapore, where the regulatory environment actively encourages innovation.

The Monetary Authority of Singapore (MAS) has played a key role in fostering fintech growth through initiatives such as regulatory sandboxes, open banking frameworks, and the issuance of digital banking licenses. These efforts have helped Singapore develop one of the most mature fintech ecosystems globally. As of recent industry reporting, Singapore is home to more than 1,600 fintech companies, spanning payments, regtech, digital banking, and wealth management. This regulatory and innovation-friendly environment enables fintech companies and banks to collaborate closely while maintaining high standards of security, operational resilience, and regulatory compliance.

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10 Best Fintech Companies Supporting Digital Banking Transformation in Singapore

The following companies are selected based on innovation, enterprise adoption, regulatory alignment, scalability, and their impact on digital banking transformation in Singapore.

1. SmartOSC

SmartOSC is a global digital transformation partner with deep expertise in digital banking platforms, fintech integration, and enterprise-scale transformation. The company collaborates closely with banks and financial institutions to modernize digital channels, core banking environments, and end-to-end customer experiences while maintaining strict regulatory and security standards.

Rather than delivering isolated fintech tools, SmartOSC takes a holistic approach to digital banking transformation. Its solutions are designed to integrate seamlessly into existing banking ecosystems, enabling long-term scalability, compliance, and operational resilience.

Key areas where SmartOSC supports digital banking transformation include:

• Digital banking platform implementation and modernization
• Fintech and third-party platform integration through APIs
• Cloud modernization and scalable banking infrastructure
• Data, analytics, and AI-driven customer insights
• Secure application development aligned with financial regulations
• Cybersecurity and compliance-focused architecture design

With a strong understanding of Singapore’s regulatory environment and enterprise banking requirements, SmartOSC helps financial institutions build future-ready digital banking ecosystems that support innovation, efficiency, and trust at scale.

Best for: Banks and financial institutions seeking enterprise-grade, compliant, and scalable digital banking transformation supported by strong fintech integration, cloud, data, and security expertise.

2. Grab Financial Group

Grab Financial Group delivers digital wallets, payments, and embedded finance services as part of the broader Grab ecosystem. Its financial offerings support both consumers and merchants, enabling seamless payments, lending, and financial access across ride-hailing, food delivery, and digital commerce platforms. This deep ecosystem integration allows financial services to be embedded naturally into everyday user journeys.

For banks and financial institutions, Grab Financial Group offers opportunities to reach large, digitally active user bases while supporting innovative digital banking and financial inclusion use cases. Its platform-driven approach demonstrates how ecosystem-led fintech models can complement traditional banking services in Singapore.

Best for: Banks and enterprises seeking embedded finance and ecosystem-based digital banking partnerships.

3. SeaMoney

SeaMoney provides digital payments and financial services across large-scale digital ecosystems, particularly within digital commerce and digital platforms. Its offerings include payments, digital wallets, lending, and financial products designed to operate seamlessly at high transaction volumes.

SeaMoney’s strength lies in its ability to scale financial services rapidly while leveraging data to support credit assessment and risk management. This makes it a strong partner for digital banking use cases that require high scalability, strong data utilization, and integration with consumer-facing digital platforms.

Best for: Digital-first banking and finance services integrated with large consumer and eCommerce ecosystems.

4. Nium

Nium is a global payments infrastructure provider offering cross-border payment, card issuance, and transaction processing capabilities. Its API-driven platform enables banks and enterprises to support international payments, real-time transactions, and multi-currency services from a single infrastructure layer.

Operating from Singapore with global reach, Nium plays a critical role in enabling international digital banking services. Its platform supports financial institutions looking to expand cross-border capabilities while maintaining regulatory compliance and operational efficiency.

Best for: Banks and fintechs requiring scalable, global payments and cross-border transaction infrastructure.

5. Xendit

Xendit delivers payment gateways and real-time payment solutions tailored specifically to Southeast Asian markets. Its platforms support a wide range of digital commerce, fintech, and banking use cases, with strong alignment to local payment methods and regulatory environments.

The company is widely adopted by banks and enterprises seeking reliable, regionally optimized payment infrastructure. Xendit’s local market expertise makes it a valuable partner for digital banking initiatives focused on Southeast Asia.

Best for: Regional digital banking and payment initiatives targeting Southeast Asian markets.

6. MatchMove

MatchMove focuses on embedded finance, digital wallets, and programmable payments through a fintech-as-a-service model. Its modular platform enables banks and enterprises to launch digital banking products, wallets, and payment services quickly without building infrastructure from scratch.

By offering flexible integration and configuration options, MatchMove supports rapid innovation while remaining compatible with existing banking systems. This approach helps financial institutions accelerate time-to-market for new digital banking offerings.

Best for: Banks and enterprises launching digital wallets and embedded finance products quickly.

7. Thunes

Thunes provides cross-border payment connectivity and financial messaging services through a global payment network. Its infrastructure enables real-time international transactions, helping banks simplify complex cross-border payment flows and improve settlement speed.

The company supports banks expanding into global markets by reducing the operational and technical complexity of international payments. Thunes plays a key role in enabling scalable, transparent, and efficient global payment operations.

Best for: Banks expanding cross-border payment and international remittance capabilities.

8. FinAccel (Kredivo)

FinAccel, through its Kredivo platform, specializes in digital credit, buy-now-pay-later (BNPL), and alternative lending solutions. Its data-driven credit models enable faster approvals while supporting responsible lending practices.

These capabilities are increasingly integrated into digital banking and consumer finance offerings, helping banks extend credit access and improve customer experience. Kredivo’s model demonstrates how fintech innovation can enhance modern digital lending ecosystems.

Best for: Digital lending, BNPL, and alternative credit solutions within consumer finance.

9. Coda Payments

Coda Payments delivers digital payment and monetization solutions designed to create seamless user experiences across digital platforms. Its technology supports multiple payment methods and simplifies payment flows for both businesses and consumers.

By reducing friction at the point of payment, Coda Payments helps improve customer engagement and conversion rates. Its solutions are well suited for digital platforms where smooth payment experiences are critical to business success.

Best for: Seamless digital payments and monetization across consumer-facing platforms.

10. Funding Societies

Funding Societies provides SME lending and digital financing solutions through alternative credit platforms. Its data-driven approach enables faster credit assessments and improved access to financing for small and medium-sized businesses.

The company plays an important role in supporting inclusive, innovation-driven banking services by helping financial institutions reach underserved SME segments. Its platforms complement traditional banking by enhancing SME-focused digital lending capabilities.

Best for: SME lending and alternative financing within digital banking ecosystems.

How to Choose the Right Fintech Company for Digital Banking Transformation

Selecting the right fintech partner is critical to successful digital banking transformation. Banks should prioritize partners that align with regulatory requirements, enterprise scalability, and long-term innovation goals rather than short-term pilots.

Key criteria to evaluate include:

• Regulatory and MAS alignment: Demonstrated experience operating within Singapore’s regulatory framework, with built-in compliance, risk controls, and auditability.
• Scalability and security: Enterprise-grade architecture capable of supporting high transaction volumes, strong data protection, and operational resilience.
• Core banking integration: Ability to integrate seamlessly with existing core banking systems, cloud platforms, and third-party services using APIs.
• Ecosystem strength: Active partnerships with technology providers, banks, and fintech ecosystems that support continuous innovation.
• Enterprise delivery capability: Proven track record of moving from pilot initiatives to full-scale, production-ready deployments.

By focusing on these factors, banks can choose fintech partners that support secure, scalable, and sustainable digital banking transformation in Singapore.

See more: Top Digital Banking Platforms in Singapore: Features, Benefits, and Use Cases

Why Singapore Is a Global Leader in Digital Banking Innovation

Singapore has established itself as a global leader in digital banking innovation through a combination of forward-looking regulation, advanced digital infrastructure, and strong collaboration between banks, fintech companies, and technology providers. The country’s banking sector has consistently embraced digital transformation, investing heavily in cloud platforms, data-driven services, and secure digital channels to meet evolving customer expectations.

A key differentiator is Singapore’s regulatory approach. The Monetary Authority of Singapore (MAS) actively promotes innovation while maintaining financial stability through initiatives such as regulatory sandboxes, open banking frameworks, and digital banking licenses. This balanced environment allows banks and fintech companies to experiment, scale, and deploy new digital banking solutions with confidence.

Singapore also benefits from a highly connected digital economy, strong cybersecurity standards, and a mature financial services ecosystem. These factors enable banks to adopt emerging technologies such as real-time payments, embedded finance, AI-driven personalization, and API-based banking platforms at enterprise scale. As a result, Singapore continues to set benchmarks for secure, scalable, and customer-centric digital banking innovation across Asia and globally.

FAQs: Fintech Companies in Singapore

1. What role do fintech companies play in digital banking transformation?

Fintech companies play a crucial role in enabling digital banking transformation by providing modern platforms, specialized technologies, and innovative operating models. They help banks improve digital onboarding, payments, lending, and customer engagement while accelerating the adoption of cloud, data, and automation. By working alongside banks, fintech companies support faster innovation without compromising regulatory and operational stability.

2. How does Singapore support fintech innovation?

Singapore supports fintech innovation through a well-defined regulatory framework led by the Monetary Authority of Singapore (MAS). Initiatives such as regulatory sandboxes, digital banking licenses, and open banking frameworks allow fintech companies and banks to experiment, collaborate, and scale solutions in a controlled and secure environment. This approach encourages innovation while maintaining high standards of security, resilience, and compliance.

3. How do banks collaborate with fintech companies?

Banks collaborate with fintech companies through strategic partnerships, technology integrations, and co-developed solutions. These collaborations allow banks to combine their regulatory expertise and customer trust with fintech agility and innovation. Common models include API-based integrations, embedded finance solutions, and joint digital product development initiatives.

4. What should banks consider when choosing a fintech partner?

When selecting a fintech partner, banks should evaluate regulatory alignment, data security, scalability, and the ability to integrate with core banking systems. It is also important to assess the fintech company’s experience with enterprise deployments, understanding of the local regulatory environment, and commitment to long-term innovation rather than short-term experimentation.

5. How can SmartOSC support fintech-driven digital banking initiatives?

SmartOSC supports fintech-driven digital banking initiatives by helping banks integrate fintech platforms into secure, scalable, and compliant enterprise ecosystems. With expertise in digital banking platforms, cloud and data modernization, cybersecurity, and end-to-end transformation delivery, SmartOSC enables financial institutions to adopt fintech innovations confidently while aligning technology investments with long-term business and regulatory goals.

Conclusion

Fintech companies are accelerating digital banking transformation in Singapore by enabling innovation, efficiency, and customer-centric services. The most successful transformations are built on strong collaboration between banks, fintechs, and regulators.

Choosing the right fintech partner is critical for secure, scalable, and sustainable innovation. Partner with SmartOSC to build future-ready digital banking solutions that deliver long-term value in Singapore’s dynamic financial ecosystem.