Singapore fintech backed by Standard Chartered eyes opportunities as Southeast Asia, including the Philippines, deepens digital finance adoption.
audax Financial Technology (audax), a Singapore-based digital banking solutions provider backed by Standard Chartered, has officially joined the Amazon Web Services (AWS) Partner Network (APN).
The move signals the company’s ambition to scale its role in powering next-generation digital banking infrastructure across the Asia-Pacific (APAC) region and the Middle East.
The AWS Partner Network, a global community of partners leveraging cloud technology to build and deliver customer-focused solutions, will provide audax with access to cutting-edge AWS tools, technical resources, and expert guidance.
For audax, becoming part of this network not only validates its expertise in cloud-native digital banking solutions but also positions it to deliver even greater speed, reliability, and scalability to its customers.
audax: Meeting the digital banking surge in Asia
The timing is critical. Across APAC, demand for digital banking services is accelerating, particularly in Southeast Asia, where digital payments grew 14% and digital lending surged 22% in 2024 alone. Countries like the Philippines, where over 70% of the adult population is now digitally connected, are fast becoming hotbeds of fintech activity.
Banks across the region are under mounting pressure to modernize legacy infrastructure while ensuring seamless customer experiences.
By partnering with AWS, audax is poised to address this need with a full-stack, plug-and-play banking platform that comes pre-integrated with essential modules, from customer onboarding and origination to payments, deposits, and lending. This approach enables financial institutions to roll out digital banking capabilities in as little as six months, without disrupting existing core systems.
Mike Breen, Chief Commercial Officer of audax
“Joining the AWS Partner Network empowers us to meet our customers’ distinctive needs through secure, compliant, and agile cloud solutions, which is central to our go-to-market strategy,” said Mike Breen, Chief Commercial Officer of audax. “We’re seeing tremendous demand from new and incumbent banks in the Asia Pacific, the Middle East and further afield, looking to launch new digital services and modernize their technology. This represents a significant milestone in democratizing access to world-class digital banking technology.”
Regional momentum: From Kuala Lumpur to Riyadh
audax has already secured major partnerships across its target markets. Most notably, it was appointed by Maybank Islamic, one of Southeast Asia’s leading Islamic financial institutions, to spearhead digital transformation initiatives with AWS.
In the Middle East, audax was tapped by Jeel, the digital innovation arm of Riyadh Bank, to help revolutionize digital banking in Saudi Arabia.
These wins highlight audax’s ability to deliver scalable, cloud-based banking systems that meet stringent regulatory and compliance requirements while unlocking new revenue streams for banks.
Implications for Philippine fintech
The Philippines, which has been one of the fastest-growing fintech markets in the region, stands to benefit from solutions like those offered by audax.
With digital banks such as Maya, Tonik, and UnionDigital accelerating adoption among Filipinos, infrastructure providers like audax can play a critical role in enabling both traditional banks and new entrants to compete effectively.
As the Bangko Sentral ng Pilipinas (BSP) pushes forward with its Digital Payments Transformation Roadmap — aiming for 50% of retail transactions to be digital by 2026 — the need for robust, cloud-enabled platforms will become even more pressing. Industry observers note that Philippine banks, many of which still rely on legacy systems, could leverage partnerships like those between audax and AWS to fast-track their modernization journey.
“Cloud-native platforms lower barriers for financial institutions, especially in emerging markets,” noted Alvin, a Manila-based fintech analyst. “They allow banks in the Philippines to scale quickly, experiment with new products, and keep up with the rapidly shifting expectations of digital-first consumers.”
Backed by Standard Chartered
As a wholly owned subsidiary of Standard Chartered, audax has strong financial backing and industry expertise. The company was behind the first Banking-as-a-Service (BaaS) offering by a global bank in Asia, setting the stage for its current expansion. Today, audax works with banks globally to unlock new business models and revenue streams.
With AWS as a partner, audax is positioning itself as a leading enabler of digital banking transformation across markets where demand is surging and the competition to capture digital-first customers is intensifying — including in the Philippines.
