SINGAPORE: While the rapid adoption of artificial intelligence (AI) has fuelled fears of job losses, some financial technology (fintech) firms in Singapore are ramping up hiring precisely because of the technology.
Business expansion is also spurring headcount growth, and the firms said that hiring talent who are the right fit is key, especially those with the ability to leverage AI.
Australia-founded Airwallex, for example, plans to grow its Singapore headcount by more than 70% year-on-year to nearly 800 by the end of 2026.
It now has close to 700 full-timers.
The firm is looking to fill roles mostly in product, engineering and design, as well as in functions such as operations management, sales and finance.
Singapore is where the firm is building customer-facing AI products such as agentic wallets, which let AI agents make purchases on a user’s behalf within pre-set rules, as well as internal AI tools to improve business productivity and efficiency.
“It is an internal and external story that AI has created in terms of what we can build and how we can scale our business,” said Airwallex vice-president for global people and talent, Richard Yan.
With offices around the world, Airwallex helps businesses manage their global financial operations with one platform, covering everything from multi-currency accounts and international transfers to corporate cards, expense management and online payments.
In Singapore, Airwallex reported a 107% revenue increase in the 2025 financial year, marking its second consecutive year of triple-digit growth.
Similarly, global payments firm Revolut Singapore’s headcount almost doubled, or grew 95%, from 2024 to 2025.
The company plans to sustain this momentum, targeting to grow its workforce to over 300 employees within the next three years, from the current 168.
Open positions at Revolut include those in product and design, as well as risk, compliance and audit.
“Singapore is a key hub for our expansion in Asia, allowing us to build and scale products that support our ambition of serving 100 million customers globally,” said Ryan Park, Revolut’s head of human resources for the Asia-Pacific.
This comes as Revolut Singapore’s retail customer base expanded by over 20%, while the business customer base grew fivefold in 2025.
Domestic transaction volumes increased by over 30%, while the number of domestic transactions rose by approximately 25% year-on-year.
Revolut said AI is not used as a standalone tool, but as a capability increasingly embedded across how it builds products, serves customers and runs the business.
“Contrary to the perception that AI will reduce the need for people, we are seeing the opposite. AI is increasing our demand for talent,” said Park. — The Straits Times/ANN
