Press Release

June 23, 2020

TranSwap Readies Malaysia Launch with Seasoned Financial Services Exec Appointed as Malaysia Country Head

Singapore-based cross-border payments platform TranSwap is pleased to announce the appointment of Mr. Surinder Singh as Country Head of Malaysia, ahead of the launch into their fourth market. This move is part of TranSwap’s strategic plans to continue providing small and medium-sized enterprises and e-commerce businesses with a secure, convenient and cost-effective cross-border payments solution, to fuel their growth in Asia and beyond. TranSwap currently operates in Singapore, Hong Kong and Indonesia.

Based in the Malaysia office to spearhead the country’s operations, Mr. Surinder brings with him more than a decade of experience in the financial services sector, spanning across different business functions including payments, cash management, trade service and working capital service (Financial Supply Chain and Factor Management). Before joining TranSwap, Mr. Surinder held senior management roles including Head of Transaction Banking at Kuwait Finance House, where he played an instrumental role in the success of digital transformation efforts and contributed to their e-payments initiatives. Mr. Surinder was also Global Head of the Request Management Services department at Standard Chartered Global Business Services and Head of Global Transaction Services at Hong Leong Bank.

In his new role as Country Head of Malaysia at TranSwap, Mr. Surinder will be responsible for driving TranSwap’s growth strategies and vision to provide an efficient and cost-effective digital financial service for Malaysian businesses to grow and scale internationally. Furthermore, Mr Surinder will drive strategic partnerships with local and regional banks, and collaborative efforts with SME associations and other bodies as well as local Fintech partners, to provide innovative solutions to SMEs.

Mr. Surinder Singh, Country Head of Malaysia, TranSwap, commented, “I am extremely excited to join TranSwap and be part of a team that serves the underserved SME sector and helps businesses overcome the barriers to their customers and trading partners regionally and globally, with a cross- border payments solution that automates their financial processing flow. SMEs today form 38% of our GDP in Malaysia and there is a pressing need to provide them with a streamlined digital platform that minimizes the disruption of financial cash flow in both trade and supply chain services. Amidst current economic challenges arising from Covid-19 pandemic, businesses are re-accessing their financial strategies to unlock their cash flow and have visibility of their liquidity and risk. Access to a platform for seamless payments and collection will surely be a priority during these uncertain times.”

Mr. Benjamin Wong, co-founder and Chief Executive Officer, TranSwap, commented, “TranSwap is delighted to have Mr. Surinder on board. Together with his breadth of expertise in the financial services sector and extensive industry knowledge, I believe Mr. Surinder’s leadership skills will help us drive overall growth in Asia, as we continue to offer our value-added solution for businesses to seamlessly manage and execute global payments and in turn support their digitalization initiatives by automating their financial operations with cross boarder capabilities.”