SINGAPORE,July 14, 2017—Logitech International(SIX: LOGN)(Nasdaq: LOGI) today announced that it has agreed to acquire ASTRO Gaming, a leading console gaming brand with a history of producing award-winning headsets for professional gamers and enthusiasts. Logitech and ASTRO, together, is the number one maker of headsets, mice, keyboards and streaming webcams for PC and console gamers.
“ASTRO is the leading player for premium console headsets and is the preferred headset for console e-sports athletes,” said Ujesh Desai, Vice President and General Manager of Logitech G. “It’s a perfect complement to LogitechG’s focus on PC gaming and we couldn’t be more excited; we love the team, the brand and the products. Together, we want to make game play even more fun for gamers everywhere.”
Jordan Reiss, co-founder and president of ASTRO, added, “The whole team at ASTRO has always heldLogitech and Logitech G products in the highest regard, so I’m ecstatic we are joining forces. ASTRO’s brand strength combined with Logitech G’s unrivaled technology and global distribution network is going to bring our products to even more gamers around the world.”
ASTRO, is a pioneer in gaming audio and lifestyle products and has a strong leadership position in the premium end of the global console gaming headset market. ASTRO is best known for its iconic A40 and A50 headsets designed for pro gamers and core enthusiasts. ASTRO’s recently introduced A10 expands the company’s reach in the console headset market, offering the essence of what makes their headsets premium, but at a more broadly accessible price point.
Expected impact on financial results for Fiscal Year 2018
Logitech will purchase ASTRO for $85 million in cash, and the acquisition is expected to close in early August. With the addition of ASTRO, we’re investing in an adjacent gaming market — the console gaming market — to help accelerate the long-term growth of our gaming business. In FY 2018, we expect the acquisition of ASTRO to add approximately two points of growth to the top line, and to be slightly dilutive to the bottom line in the first year, as we integrate the business and invest to expand ASTRO internationally.
Partnership Enables Brands to Maximise In-app Engagement with BBM Messenger Users in Indonesia
Singapore – July 13, 2017 – Since establishing its publisher relationship with Criteo (NASDAQ: CRTO), the performance marketing technology company, in 2016, Creative Media Works, operating as BBM, has expanded its access to premium brands and high-value advertisers, resulting in significant increases in in-app engagement for brands through BBMMessenger.
BBM is the largest messaging platform in Indonesia and has more than 60 million monthly active users. Since it was created in August 2005, BBM has evolved from a pure messaging application for text and video communications to online social ecosystem unifying chat, social, commerce and services like bill payments, top-ups, vouchers / coupons, games, comics, news, video, shopping, travel, sport, career and polls.
BBM Messenger’s strength lies in its ability to convert app traffic into consumer engagement, thereby enabling eCommerce players with ads within BBM to increase online sales and engagement. BBM leveraged Criteo to accomplish the following:
Efficiently pinpoint or target specific users within BBM Messenger’s user base, by leveraging The Criteo Engine’s ability to understand each consumer’s online browsing and purchasing behaviour.
Optimise BBM Messenger’s ad inventory by allowing premium, high-value advertisers to engage more effectively withBBM Messenger users through personalised and brand-appropriate ads delivered in real-time.
“Indonesians spend an average of 5.5 hours a day on apps and the mobile web, with BBM Messenger being one of the top mobile apps when it comes to usage frequency and duration. For brands looking to grow online sales in Indonesia, in-app advertising on BBM Messenger is a massive consumer engagement opportunity. Criteo’s machine learning algorithms intelligently match publishers’ ad inventories with brands’ dynamic ads to achieve the best consumer engagement results. We look forward to continuing to help platforms like BBM Messenger maximise revenue, while helping brands maximise digital ad spending,” said Dushyant Sapre, Regional Director, Global Supply and Business Development, Asia-Pacific, Criteo.
Results from Criteo’s Collaboration with BBM
Since becoming a Criteo publisher, BBM has achieved the following results:
50 percent increase in overall click-through rates on the BBM platform
50 percent increase in click-through rates for retail-related ads on the BBM platform
50 percent increase in BBM’s daily ad revenue
“BBM Messenger works with the best-in-breed partners globally, as part of a continuous effort to provide an enriched user experience, while delivering optimal results to brands and advertisers. The partnership with Criteo gives us access to a robust network of premium and high-value advertisers, while increasing our user engagement and click-through rates. In addition, this collaboration allows both teams to collectively explore various ad formats and methods that work best for brands looking to engage mobile consumers in Indonesia,” said Matthew Talbot, CEO of Creative Media Works, the company that operates and runs BBM globally.
On 27 June 2016, Creative Media Works, a division of PT Elang Mahkota Teknologi Tbk. (Emtek, IDX:EMTK) – one of Indonesia’s largest media, content and technology businesses – announced a long term strategic alliance with BlackBerry Limited to accelerate BBM’s consumer research and development in offering new and exciting features, services and content to the global consumer market. As part of this strategy, BBM is making its APIs available to expedite the growth of partners and consumer services such as:
Content – music and video streaming, games, sports, news, celebrity blogs, horoscopes and more
Commerce – shopping, gifting and coupons/vouchers
Online to Offline Commerce – booking movies, travel, health services, real-estate or job postings
Finance – P2P payments, money transfer, mobile phone re-charge, and utilities billing
Creative Media Works now operates under the BBM banner as a stand-alone consumer focused business with teams operating from Waterloo, Mississauga, Ottawa, Singapore, Jakarta, UAE and South Africa. For more information, visit www.bbm.com.
Singapore’s entrepreneurs gain access to Google for Entrepreneurs’ global programs
Singapore, 10 July 2017 – Singapore’s largest coworking and entrepreneur-building community, Impact Hub, announced its partnership with Google for Entrepreneurs today, becoming the company’s first tech hub partner in Southeast Asia. Impact Hub Singapore members can now take advantage of Google for Entrepreneurs’ global network and resources, spanning dozens of coworking spaces and community programs across 135 countries.
Impact Hub Singapore is home to a vibrant entrepreneurial community with a strong track record in supporting companies as they build and scale their businesses. Member startups have raised more than $180 million USD ($250 million SGD) since Impact Hub Singapore opened it’s doors. Impact Hub Singapore comprises more than 650 entrepreneurs, professionals and freelancers, and has partnerships with 50 corporate, university and government-linked organisations. The five year-old Impact Hub is home to Singapore’s largest community of creatives, entrepreneurs, and technologists. Impact Hub Singapore takes a holistic approach to encouraging startups by providing everything from co-working space to resources and tools early stage businesses need to grow.
At the launch, Grace Sai, CEO and Co-Founder, Impact Hub Singapore, said, “We are proud to be the first Google for Entrepreneurs tech hub partner in Southeast Asia, and we are looking forward to being the goto place for entrepreneurs, not only for local Singaporean companies, but also for startups from around the world that wish to build and scale their business in Singapore and Southeast Asia.”
Impact Hub Singapore’s range of services for startups include mentoring programmes, incubation, networking events, fundraising workshops, consultancy with experts, marketing support, and access to a global network of more than 100 Impact Hubs on five continents with over 20,000 Hubbers.
Bradley Horowitz, VP of Product Management, Google, who leads Google for Entrepreneurs globally, added, “We’re thrilled to expand our Google for Entrepreneurs Partner Network to Impact Hub Singapore. Grace and her team are indispensable members of the Singapore startup community, and Impact Hub is an innovation leader not only for Singapore, but across greater Southeast Asia. Google for Entrepreneurs is all about providing the best of Google’s resources to our global partner network. We can’t wait to collaborate with Impact Hub Singapore’s members.”
As members of the Google for Entrepreneurs network, Impact Hub Singapore and the greater Singapore startup community will have access to new resources including training and mentorship opportunities and access to Google programs and products including:
● Google for Entrepreneurs global programs: Hubbers can now apply to the incredible programs Google runs for entrepreneurs, including Google for Entrepreneurs Exchange, a series of weeklong, vertically-specific global immersion programs aimed at helping startups gain access into new markets and insights, and Google Demo Day an event that brings together a diverse group of startups from around the world to showcase their technology and meet top investors and mentors in Silicon Valley.
● A global network: Hubbers will join 50 other organizations with a global footprint in more than 135 countries, including six Campuses, which are Google-owned and operated spaces for entrepreneurs. Impact Hub members are now connected to the Google for Entrepreneurs Passport program, which allows members to access more than 20 Google partner spaces the world over, from Seoul to San Francisco.
● Google resources: Relevant startups will be eligible for Google product offers and have access to local and international mentorship from Google advisors.
In addition to all of these great offerings from Google for Entrepreneurs, Impact Hub Singapore, inspired by Google’s Campus’, will also start providing more opportunities for collaboration:
● 30 new coworking seats: From August onwards, Impact Hub Singapore will open 30 free coworking seats per day in the coworking area be even more inclusive and welcoming to the techcurious as well as to current and aspiring entrepreneurs.
SINGAPORE, 6 JULY 2017 – Guardian Health & Beauty entered partnership with MyDoc, a digital health tech start-up, trying to address the population health needs of Singaporeans. As Singapore’s demographics and healthcare demands continue to evolve, there is a growing need for better self-care solutions that are supported by technology to reduce healthcare costs. At the moment, the island nation is set to become the highest healthcare spender in Asia Pacific, projected to reach $66 billion annually by 2030. (Source: Elderly healthcare costs to rise tenfold by 2030 – Report by Marsh & McLennan Companies’ Asia Pacific Risk Centre)
This partnership aims to offer simple, easy-to-use and time-saving services for convenient and accessible healthcare to reduce the burden on the healthcare system. Consumers/Patient could access to pharmacists from Guardian and doctors through virtual health consultations via MyDoc’s messaging platform.
“As one of the leading pharmacies in the region, Guardian takes a great deal of responsibility for Singapore’s self-care needs,” saidSarah Boyd, CEO of Guardian Health & Beauty, Singapore and Cambodia. “To ensure that these needs are taken care of, it is not enough to merely provide reactive remedies for the population. We need to be proactive in our solutions and services. A generation of consumers that are more aware and informed of their options places an increasing importance on personalised care and patient experience. Healthcare services are moving away from a B2B model towards a consumer based system, placing us in an era of retailisation of healthcare. Guardian Health & Beauty is stepping up to this challenge and our partnership with MyDoc is a wonderful example of this.”
“MyDoc was born from the need to simplify access and delivery of healthcare solutions for both patients and doctors. As a company that brings together patients, healthcare providers and partners, MyDoc’s platform empowers Guardian consumers to effectively manage their health and wellness needs through communication with an expanded network of qualified Guardian pharmacists. Together with Guardian, MyDoc is making it easier to access and provide quality health to the whole of Singapore,” said Dr Snehal Patel, Co-Founder and CEO, MyDoc.
Singapore ranks the lowest in terms of using both encryption and tokenization to secure their cloud data.
Symantec (Nasdaq: SYMC), the global leader in cyber security, today released findings from the new Symantec cloud security survey which reveals the state of enterprise data security. The advantages of cloud computing—scalability, speed to market, lower costs and higher productivity—are well known throughout most industries. But for cyber criminals, this new, borderless infrastructure is a potential goldmine.
Survey findings reveal that cloud security is a top concern for chief information security officers (CISOs) in Singapore and are taking measures to improve security in 2017. Covering 1,100 CISOs across 11 global markets, the report reveals that companies in Singapore currently ranks the lowest in terms of using both encryption and tokenization to secure their cloud data.
A widening scope for cloud-based attacks
The survey shows the extent to which cloud security is keeping CISOs in Singapore awake at night. Tellingly, almost all (90%) believe that ensuring cloud applications meet compliance regulations is one of the most stressful aspects of their job.
The industry compliance issues that they find most worrying include the governance of corporate-owned mobile devices (23%), and broad sharing of compliance-controlled data in cloud applications (21%).
Other concerns include the broad sharing of employee use of unsanctioned cloud applications (20%), tracking of activities in sanctioned cloud applications (19%), and keeping on top of country and region-specific data residency and control regulations (17%).
The widespread adoption of cloud applications, coupled with risky user behavior that corporations may not even be aware of, is further widening the scope for cloud-based attacks. Singapore CISOs estimate that, on average, 32% of cloud-based applications used at their company are unsanctioned, or ‘shadow apps’. The vast majority (77%) also believe that their Chief Executive Officer has probably broken internal security protocols at some point – either intentionally or unintentionally.
A need for end-to-end solutions
As enterprises become more reliant on the cloud to improve collaboration and flexibility, it’s becoming increasingly difficult for CISOs to keep track of and secure sensitive company data, let alone maintain compliance with regulatory requirements. To bolster information security as their organization’s data flows between on-premises systems, mobile applications and cloud services, 97% of CISOs in Singapore plan to increase spending on IT staff security training on average by 25% this year. This is a significantly higher average increase than overall CISOs surveyed which stood at 20%. On average, new IT employees will undergo 16 hours of security training during their onboarding process in 2017.
The need for data security, compliance, and residency is also driving Singapore CISOs to look for encryption and/or tokenization solutions to support their Software as a Service (SaaS) initiatives. Symantec’s survey reveals that while 94% of CISOs in Singapore believe tokenization of cloud data is the best way to meet data residency and control regulations, only 59% use tokenization methods. Instead, 78% use encryption to secure their cloud data. Further, less than half (37%) use both encryption and tokenization – the fewest among all the countries surveyed.
Despite such measures, security challenges remain. Cybercriminal groups are opportunistic in the way they operate, using flaws in legitimate operating systems, tools, and cloud services to compromise networks. To effectively counter such behaviors, CISOs require unparalleled visibility and control over sensitive content that users upload, store and share via the cloud. Rather than relying on one-off fixes and reactive patches to protect confidential information, successful CISOs are eradicating exploitable vulnerabilities by deploying proactive, end-to-end solutions.
Addressing cloud security through a holistic approach
Failure to ensure appropriate security protection when using cloud services could ultimately result in higher costs and potential loss of business, thus eliminating any of the potential benefits of cloud computing. To ensure success, organizations require a new model of integrated security which provides stronger protection, greater visibility and better control of critical assets, users, and data.
Addressing cloud security holistically creates operational efficiencies and allows Singapore CISOs to take full advantage of the cloud. This approach guarantees their critical information is secure and protected, giving them the peace of mind they need to lead their companies in the data-driven era.
Petya Ransomware, out of the sudden, has became the most talk-about words on the web. It has affected organization causing disruption on business process and system outrage. In merely a day, it has affected hundreds of organizations in Ukraine.
He emphasized further, “Manufacturing organisations, which are highly concentrated in Asia, are particularly at risk as most do not apply updates and patches to their industrial computers as swiftly as corporate entities. This makes them especially vulnerable to rapid infections and complete shutdowns.”
What exactly is Petya? and what’s the difference between Petya and the recent WannaCry attack?
Similar to WannaCry, Petya is a ransomware attack that locks up files and it is using the ETERNALBLUE (MS17-010) Windows vulnerability as an infection vector to spread inside networks.
However, unlike WannaCry, Petya goes beyond file locking. It renders the victim’s computer completely inoperable through the attacking of the Master Boot Record (a key part of the startup system that helps to load the OS. It is also where key data about the hard disk partition stores).
From this point forwards, it restricts access to the system by seizing information of file names, sizes and location on the physical disk. Finally, Petya replaces the computer’s MBR with its own code, which displays the ransom note once the system is powered up.
How Petya has spread on the 27 Jun 2017?
According to Symantec blog, it is confirmed that MEDoc, a tax and accounting software package, is used for the initial insertion of Petya into corporate networks. MEDoc is widely used in Ukraine, indicating that organizations in that country were the primary target.
Petya is a worm, meaning it has the ability to self-propagate. Once it establishes a foothold (this case, in Ukraine), it starts to builds a list of target computers and spread to those computers via the following 2 methods:
Execution across network shares: It attempts to spread to the target computers by copying itself to [COMPUTER NAME]\\admin$ using the acquired credentials. It is then executed remotely using either PsExec or the Windows Management Instrumentation Command-line (WMIC) tool. Both are legitimate tools.
SMB exploits: It attempts to spread using variations of the EternalBlue and EternalRomance exploits.
How bad had Petya caused across the globe?
The chart below gives an overview on the number of organizations affected by Petya Ransomware.
Products That Protects from Petya
Cloud service providers usually protect the data from malware or ransomware attack. For instance, the Acronis Active Protection has been independently tested by MRG Effitas and AV Test, and has been proven effective against the threat of ransomware, and is now available with Acronis True image 2017 New Generation for consumers, as well as Acronis Backup 12.5 for businesses
Use Reputable antivirus software – Companies like ESET and Norton Symantec will regularly post updates on the latest trend in cybersecurity space through their blogs. More importantly, users should keep a good habit in updating their antivirus software regularly so as to safeguard yourselves for such attack. You should follow ESET‘s and Norton Symantec‘s blogs to better understand of such attack.
Will accelerate growth in emerging technology ecosystems, like IoT, to inform and ignite corporate growth
SINGAPORE, JUNE 27, 2017 – Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global leader in cybersecurity solutions, today announced the launch of a corporate venture fund to explore emerging technology markets. With an initial investment of $100 million, this venture fund will allow Trend Micro to nurture a portfolio of startups that are incubating ideas and living at the epicenter of hyper growth markets, such as the Internet of Things (IoT).
According to Gartner estimates, 26 billion devices will be connected to the Internet by 2020.1
Eva Chen, founder and chief executive officer for Trend Micro noted, “Trend Micro’s vision has always been to make the world safe for exchanging digital information. The explosion of devices is transforming how the world works, thinks and acts. It is clear that the ecosystem is still evolving and there is work to do to ensure organizations and individuals can operate and live safely in this new reality.”
Trend Micro’s venture will offer companies financial backing, access to its world-class global threat intelligence, strategic alliances, as well as its channel of more than 28,000 partners.
In return, working with these investments will uncover insights into emerging ecosystem opportunities, disruptive business models, market gaps and skillset shortages. These learnings will influence Trend Micro’s cybersecurity solution planning across the company.
“We have a 29-year history of successfully anticipating technology trends to secure all types of environments,” said Chen. “The first mega wave we caught was the growth of the PC marketplace; we committed early on to endpoint protection and remain a Leader in Gartner’s Magic Quadrant for Endpoint Protection Platforms today2. The second mega wave was all about the cloud; we made a bet early on to securing the cloud and so far we have secured over two billion workload hours on Amazon Web Services (AWS) alone. Now, we believe the next wave has arrived with IoT; our fund will help us harness this opportunity.”
With a strong financial position and 72 quarters of consecutive profitability, Trend Micro is well positioned to invest funds to do research and make advancements consistent with its corporate strategy. The formation of this venture arm allows additional freedom to dive into new areas without disrupting core business resources.
Gartner, the Six Forces That Will Shape Business and Technology in 2030, Stephen Prentice, 01 February 2016
Gartner, Magic Quadrant for Endpoint Protection Platforms, Eric Ouellet, Ian McShane, Avivah Litan, 30 January 2017
In the broad sense, the old financial industry needs change and technology is definitely the answer to that. “Fintech” – a popular word that frequently appears in the newspaper. For those who are still working in the banking sector, it is never a surprise to hear some of your peers left the banking sector to start a fintech company.
This sector, not just attract the banking professionals, you might also hear a lot of talented fresh graudates run a fintech startup. Given so much interests in market, should you just jump on the bangwagon?
How did you land yourself a “Fintech” job in Cloudera?
I came from a financial services and deep data management background. I was really interested in how disruptive Hadoop was in every industry and was also a huge fan of Doug Cutting (Co-founder of Hadoop and Cloudera’s Chief Architect), Mike Olsen (Co-founder and Chief Strategy Officer of Cloudera), Amr Awadallah (Co-founder and Chief Technology Officer of Cloudera), Tom Reilly (Chief Executive Officer of Cloudera), and most importantly, the Clouderian culture. It was a combination of background and interest, combined with persistence and a little luck – I was sure that the Open Source Apache Hadoop project was going to change the data world and I wanted to be a part of it.
Do you have to be a banker to develop solutions for banks?
No, you don’t. At Cloudera, we believe that data can make what is impossible today, possible tomorrow, across all industries, and what seems like magic can happen when you bring in data scientists and engineers who can use Open Source based Big Data Technology like Hadoop.
Do you need to understand the business use case and requirements to create a solution? Absolutely, but the key is to combine people, process, and technology. For example, three years ago, one of our data scientists was asked by a large bank to try and write a VAR function (Value at Risk) using Spark running on a Cloudera cluster. As a Mathematics major, he didn’t know much about VAR in financial services but the bank’s subject-matter experts explained the concepts and he made a first attempt. After he was done, his attempt actually made it run ten times faster than their existing code and it was running on 100% of their data rather than the subset they had been forced to use, so they were jumping for joy.
What is your definition of “A-team”? And where do you find them?
An ‘A-team’ today translates to a data-first culture. Organizations often think they can find and hire such a team, but the truth is, you have to build the culture internally first, starting from the top. Business leaders and executives must see data as an asset and empower their employees.
One of my favorite quotes is from James Governor at Redmonk – Data Ages Like Wine, Apps Age Like Fish – data is your greatest asset but just like fine wine, it must be cared for, stored, and shared to be truly appreciated. Businesses must develop a team with the right set of skills and evolve business processes and decisions to be data-driven.
Most people have the idea that data scientists are a mythical unicorn, but the best data scientists are not just a single person, they are a tightly integrated team of people who know and understand data science concepts, the data, and the business problem. The most important skill that you can’t train up for is curiosity.
How do you pitch to a bank’s CTO?
The first thing I do is to start a conversation and align on the objectives that make the most sense for the overall business and their customers – understanding what drives their business goals and objectives is key. Within the financial services sector, the common themes are Customer Journey, Financial Crime, Risk, and Product and Service Efficiency. Another topic that CTOs often discuss is digital disruption. Business leaders have realized that customers no longer want to walk into a bank or go on their website to get more information; they want a multi-channel experience. But the problem is, how do banks monitor that experience and understand the customer journey of how people move through different channels and systems?
In today’s consumer-centric world, most financial institutions are now shifting their focus to provide the ultimate customer experience, all with data-driven insights. This is where the technology comes in. One of our customers in the banking sector mentioned that he would like to take customer experience back to the 70’s. In the 70’s, you walk into a local bank they know you, your family, your business, and why you need a loan – today, if you are operating with thousands or even millions of customers, how do you create the same experience? The answer is data.
Many CIOs and CTOs that I meet also seem to be facing one problem – the high costs of managing a data warehouse or data archival. Because of the costs, businesses have had to make compromises about what data is stored and analyzed. Hadoop enables organizations to save tremendously on costs, while providing the flexibility to access data at any point in time.
CTOs from different industries have different problems, but the key is to understand what they really need and set realistic goals accordingly.
Do you see regulators as an obstacle in the industry?
Quite the opposite. In many countries, especially in APAC, regulators are working directly with the companies to jointly come up with a solution and are even using Cloudera’s platform themselves. Our solutions help them to aggregate data from all the companies they monitor and provide a systemic view across organizations. We are even starting to see the regulators themselves contribute to Open Source projects and running datathons or hackathons. There are definitely some exceptions but the general feeling is that regulators today are thinking about the right issues especially around data privacy
HONG KONG, CHINA – 29 May 2017 – Speed Apparel Holding Limited (“Speed Apparel”, together with its subsidiaries, the “Group”; HKSE: 8183), a Hong Kong apparel supply chain management services provider, announces the subscription results for its shares (the “Shares”) under the public offer (the “Public Offer”) and placing (the “Placing”, together with the Public Offer, the “Share Offer”). The shares under the Public Offer have been very significantly over-subscribed by approximately 400 times. The offer price per share has been set near the mid-point of the offer price range at HK$0.50 per share. Dealings in the shares on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited is expected to commence on 31 May 2017 (Wednesday).
Due to the very significant over-subscription in the Public Offer, the reallocation procedures have been applied. A total number of 50,000,000 shares under the Placing have been reallocated to the Public Offer, so that the total number of shares available under the Public Offer has been increased to 62,500,000 shares, representing 50% of the total number of the offer shares available under the Share Offer. Based on the final offer price of HK$0.50 per Share, the net proceeds from the Share Offer to be received by the Company (after deducting underwriting fees and estimated expenses in connection with the Share Offer) is estimated to be approximately HK$37.1 million.
Speed Apparel intends to apply the net proceeds as follows: 1)approximately 13.5% for strengthening and diversifying the Group’s customers base; 2)approximately 26.8% for further expanding the Group’s product mix to cater to the customers’ need; 3) approximately 20.2% for enhancing the Group’s design and development capabilities; and 4)approximately 39.5% for enhancing the Group’s inventory management to strengthen operational efficiency.
Messis Capital Limited is the Sponsor of Speed Apparel for the listing and Great Roc Capital Securities Limited is the Bookrunner.
Ever since the announcement on the rebranding of the company in 2015, Singtel has been transforming its business from a conventional telco to ICT solution provider. Personally, I think it is not easy for a big infrastructure-based business like telco to change their business model but I think for the past 2 years, Singtel has improved reasonably in turning around their business.
Payment business has been tightly-linked with the Telco but nobody has ever expected a telco to do well in this space. Surprisingly, Singtel has invested a lot in this space with its Singtel Dash, a cashless payment solution using smartphone ( even you are not Singtel subscriber).
I think Singtel’s effort has paid off. Today, it announces that its Singtel Dash has been recognised for excellence in FinTech with two industry awards, Seamless Awards Asia’s “Best Asian B2C Payments Initiative” and “FinTech Innovation of the Year” at the FinTech World Forum.
Seamless Awards Asia honours excellence in the payments, e-commerce and retail industry in Asia. Selected for its unique ecosystem that makes mobile payments accessible to everyone in Singapore, Singtel Dash was mentioned for its mobile remittance services which offer unparalleled convenience to customers sending money to over 13,700 cash-out points across the Philippines, Indonesia, India and China.
Singtel Dash also took home the “FinTech Innovation of the Year 2017” at the FinTech World Forum, held in Shanghai in the same month. Organised as part of the FinTech World Forum by FinTech Alliance (FTA), the FinTech Innovation Awards honour the highest achievements in the global FinTech and financial industries. It is a global competition to showcase companies who are paving the future in financial services and innovative technologies.
Ms Gan Siok Hoon, Vice-President of mCommerce, Consumer Singapore, Singtel, said, “We are extremely pleased to receive industry recognition for our contributions to FinTech. Since its launch in 2014, Singtel Dash has evolved to meet the demands of Singapore’s increasingly digital economy and our customers’ connected lifestyles. These two awards affirm our efforts to revolutionise payments for our customers’ convenience. We look forward to delighting them with more innovative features and contributing to Singapore’s journey to Smart Nation by developing the mobile payments ecosystem in Singapore.”