- Congratulations on becoming the Platinum Partner for Singapore FinTech Association and Singapore FinTech Awards & Gala Dinner 2019! Please share why Instarem chose to become a major sponsor of this event?
While InstaReM has global operations, we are extremely proud of our Singaporean roots. From our association with the Singapore Fintech Association for the last 2 years, we strongly believe the Singapore FinTech Association (SFA) is the most authentic representative of the interests of the FinTech community in Singapore.
We have been strongly supported and nurtured by the SFA during our formative years and today, we are proud to be an early member of this august platform. Directly and indirectly, InstaReM’s SFA association has been one of the key factors behind our successful international expansion across different parts of the world.
While we have gained a lot from this association, it is our firm belief to share our success with other fintech companies in Singapore who aspire to become global leaders of tomorrow. This is the primary reason behind our decision to become the Platinum Partner for Singapore Fintech Association. And please note that this is not a financial association. We will be involved more deeply with SFA in the future and would like to work towards the development of an unbeatable fintech ecosystem in Singapore.
2. We understand too that Instarem is one of the first to apply for a Digital Banking License in Singapore. Why does Instarem want a Digital Banking License?
Yes. Financial Service is our DNA. We started as a remittance company in Singapore in 2015 and have evolved into a cross-border payments company helping hundreds of thousands of individual and enterprise customers to move money internationally in digital form. In fact, we are already powering international payments for some of the largest banks in Southeast Asia. In that sense, we are already providing services similar to transaction banking – so this is a natural extension for us.
We strongly believe that the future of finance is going to be digital and given the nature of our business and the infrastructure that we’ve created, we have a natural lead in digital banking. As a company of the new generation, we understand the mind of the digital-native consumer and have experience of developing and delivering digital solutions that address the banking needs of the new generation. Like we’ve done in the global remittance business, we would want to work on innovative solutions that address the traditional challenges of retail and business banking in the digital form.
Thank you so much for sharing! We look forward to seeing Instarem at the Awards and good luck for the Digital Banking License application!