GlobalFoundries is planning to set up a new facility in Malaysia, while fintech firm Finastra and Philippine digital bank Tonik are extending their partnership.
GlobalFoundries to set up new hub in Malaysia
One of the world’s leading semiconductor manufacturers, GlobalFoundries (GF), on Tuesday announced that it will be setting up a new hub in Bayan Lepas, Penang, Malaysia.
In a statement, the Nasdaq-registered chipmaker said the new facility will create 300 high-value manufacturing support roles, including technicians, engineers, administrative, and support functions.
The Malaysia facility will complement GF’s $4-billion fabrication plant that was opened in Singapore earlier this month and is part of a strategic hub network that will provide round-the-clock support for its global manufacturing operations.
GF manufactures semiconductors for a range of clients, including Qualcomm, MediaTek, and NXP Semiconductors, and has manufacturing centres as well as offices across the US, Europe, and the APAC region.
Finastra, Tonik strengthen partnership
Fintech giant Finastra on Tuesday announced a new deal with digital bank Tonik, renewing its partnership to power Tonik’s end-to-end core banking capabilities with its banking solutions software, Finastra Essence.
In a statement, Finastra said that as part of the renewal, it will also strengthen the partnership with the deployment of dedicated consultants to help accelerate Tonik’s development and launching of new products and services.
Greg Krasnov, CEO, Tonik, said: “From the start, Essence’s open architecture and sophisticated functionality have given us the flexibility to build the right technology stack for our needs—whether that was launching the bank on time and on budget or fueling our rapid growth—as well as the agility to develop revolutionary new products and bring them to market quickly.”
Tonik Digital Bank currently operates in the Phillipines and was the first to receive its digital banking licence from the Phillipines central bank in 2021. It’s holding company, Tonik Financial Pte Ltd, however, is based in Singapore.