SINGAPORE- Media OutReach - 25September 2020 - Singapore cross-border payments firm TranSwap has been awarded thePlatinum Award for Payment Tech category at the prestigious IFTA FinTechAchievement Awards. Video-streamed on 24 September 2020, the award showcasesand 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 PaymentTech category that were recognised at the award ceremony. The award recognised41 award winners in total, spanning 21 categories which include ArtificialIntelligence, Blockchain-based Transformation, Digital Banking and more whohave demonstrated leadership and significant contributions in Fintech.

The Singapore firm emerged as the Platinum Awardwinner for the Payment Tech category, where it excelled in at least 9 out of 12criteria necessary for outstanding achievement and efforts in FinTech.

Launched in 2017 to tackle the pain points inmaking international payments, TranSwap has transformed the traditionalcross-border payments process. Through the FinTech platform, businesses cansend money to over 180 countries in over 120 currencies, and 60 local paymentrails and auto clearing houses -- at lower costs and transparent rates and fees.TranSwap soon expanded its business to its third market Indonesia and rolledout new innovative services for remittance. Just recently, the AMTD ASEANSolidarity Fund Group announced its investment in TranSwap. TranSwap plans touse the investment to accelerate product innovation and drive regionalexpansion.

Mr Benjamin Wong, CEO and co-founder of TranSwap, shared "We are humbled by the acknowledgement ofour contributions to Hong Kong's burgeoning FinTech industry. Many businessesstill suffer from expensive and opaque money transfers which impede theirgrowth and development. With our cross-border payments platform, businesseswill benefit from more convenient, faster and less costly cross-border businesspayments. Coupled with our suite of innovative financial technology solutions,we are serving the evolving business needs of our customers in the areas offinancial automation and treasury management with the ultimate aim of makingpayment and collection seamless and accessible."

The award is organised by the Institute ofFinancial Technologist of Asia, a non-profit organisation established in HongKong with the purpose of creating an ecosystem for global fintech talents to beconnected.

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