- Media OutReach - 25
September 2020 - Singapore cross-border payments firm TranSwap has been awarded the
Platinum Award for Payment Tech category at the prestigious IFTA FinTech
Achievement Awards. Video-streamed on 24 September 2020, the award showcases
and celebrates the extraordinary achievements made by corporations, NGOs,
start-ups, and individuals in the Finance and Technology industry.
TranSwap is one of 7 awardees under the Payment
Tech category that were recognised at the award ceremony. The award recognised
41 award winners in total, spanning 21 categories which include Artificial
Intelligence, Blockchain-based Transformation, Digital Banking and more who
have demonstrated leadership and significant contributions in Fintech.
The Singapore firm emerged as the Platinum Award
winner for the Payment Tech category, where it excelled in at least 9 out of 12
criteria necessary for outstanding achievement and efforts in FinTech.
Launched in 2017 to tackle the pain points in
making international payments, TranSwap has transformed the traditional
cross-border payments process. Through the FinTech platform, businesses can
send money to over 180 countries in over 120 currencies, and 60 local payment
rails and auto clearing houses -- at lower costs and transparent rates and fees.
TranSwap soon expanded its business to its third market Indonesia and rolled
out new innovative services for remittance. Just recently, the AMTD ASEAN
Solidarity Fund Group announced its investment in TranSwap. TranSwap plans to
use the investment to accelerate product innovation and drive regional
Mr Benjamin Wong, CEO and co-founder of TranSwap, shared "We are humbled by the acknowledgement of
our contributions to Hong Kong's burgeoning FinTech industry. Many businesses
still suffer from expensive and opaque money transfers which impede their
growth and development. With our cross-border payments platform, businesses
will benefit from more convenient, faster and less costly cross-border business
payments. Coupled with our suite of innovative financial technology solutions,
we are serving the evolving business needs of our customers in the areas of
financial automation and treasury management with the ultimate aim of making
payment and collection seamless and accessible."
The award is organised by the Institute of
Financial Technologist of Asia, a non-profit organisation established in Hong
Kong with the purpose of creating an ecosystem for global fintech talents to be
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