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HSBC hires former UOB digital developer, Aaron Chiew, to shape the bank’s digital platforms from Singapore.
The bank will channel the new capital into connectivity, progressive solutions, and sustainability, the announcement explained.
Timo raised fresh funds in a $20 million round led by Square Peg Capital, which has backed several other regional fintech and payments players.
Veteran Ramachandran A.S. is Citi’s new country officer for Vietnam.
The move is part of the bank’s wider repositioning strategy as it shifts its focus to other offerings, including trade and treasury services (TTS).
The bank is hoping to speed up innovation and time-to-market of new solutions for its institutional clients.
Amit Agarwal and Debopama Sen have been appointed as the bank’s new global co-heads of Treasury and Trade Solutions (TTS) Payments and Receivables.
Speaking at the Singapore Fintech Festival, MAS’ managing director shared his thoughts on the potential benefits and risks of CBDC adoption, as well as the bank’s stance.
The effort aims to deliver faster cross-border payments using existing technology.
The decision marks a new milestone in the bank’s asset digitalisation strategy.