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.”