Foster the development and growth of remittance and cross-border payment ecosystem in the financial sector in Singapore by working collaboratively with various stakeholders in the industry in 4 key areas of focus.
Promote the adoption of technologies to strengthen the capabilities, efficiencies, and governance of Singapore's money remittance industry and catalyze its members' internationalization efforts.
ENGAGEMENT WITH REGULATORS
1. ENGAGEMENT WITH REGULATORS
a) Represent the remittance community in Singapore and engage with regulators in a constructive manner regarding current and future state regulations, market structure and practices within the financial services sector.
b) Be the independent voice and bridge between the remittance ecosystem and the regulators.
ENGAGEMENT WITH INDUSTRY
2. ENGAGEMENT WITH INDUSTRY
a) Organise events to promote the benefits and adoption of technological innovation, solutions, and collaboration between the financial services sector within the remittance industry.
b) Support the remittance ecosystem by providing updated market insights, sharing of key developments and mutual understanding of the needs and challenges faced in this industry.
c) Coordinate and align initiatives with the objectives of the Remittance Association of Singapore and their duly authorised Committees.
d) Be the bridge between the financial industry, the RegTech ecosystem and regulators.
NURTURE THE DEVELOPMENT OF THE ECOSYSTEM
3. NURTURE THE DEVELOPMENT OF THE ECOSYSTEM
a) Work with other associations in Singapore and elsewhere to broaden the application of remittance and growth in the broader Remittance ecosystem.
b) Facilitate the development of the partnerships, collaboration, and growth of remittance ventures.
4. TALENT DEVELOPMENT
a) Work with tertiary institutions in Singapore to promote the concept of modern cross-border payments and their best practices.
b) Facilitate the adoption of international expertise in Singapore through the exchange of knowledge and attracting capabilities and talent.
c) Facilitate connecting industry experts to advise and mentor remittance companies.
Remittance Sub-Committee 2021
Ho Chee Wai
Representative of Nium Pte. Ltd.
Krishna R Subramanyan
Representative of Bruc Bond Pte. Ltd.
Representative of Transwap Pte. Ltd.
Representative of SingX Pte. Ltd.
Chang Qing Yuan
Representative of Ample Transfers Pte. Ltd.
Representative of Thunes Asia Pte. Ltd.
Representative of Western Union Global Network Pte. Ltd.
Lim Ming Wang
Representative of Opal Fintech Pte. Ltd.