Asia-Pacific will no longer produce huge increases in new social network users, but the sheer scale of the region means it should remain front and center for social media marketers. Facebook will remain on top, but TikTok, Instagram, and Snapchat are making waves.
Standard Chartered’s Alex Manson, who runs its SC Ventures unit, said that Thought Machine is providing core services for its digital banks in both Hong Kong and Singapore. The company also counts Lloyds—it led its Series A round and is part of the new one— and SEB as clients and investors. Thought Machine said it will use its proceeds to continue building out Vault, its core banking product.