Home News Singapore-based FinTechs, TechCreate and Diginius, to Merge and Combine Together into an Integrated Fintech Enterprise, TechCreate Group; Focus on Powering the Future of Payments in Asia

Singapore-based FinTechs, TechCreate and Diginius, to Merge and Combine Together into an Integrated Fintech Enterprise, TechCreate Group; Focus on Powering the Future of Payments in Asia

by admin
10 views
Singapore-based FinTechs, TechCreate and Diginius, to Merge and Combine Together into an Integrated Fintech Enterprise, TechCreate Group; Focus on Powering the Future of Payments in Asia

Singapore, Apr 19, 2022 – (ACN Newswire) – TechCreate Solutions Private Limited (“TechCreate”), a Singapore-based technology services group specialising in innovative digital payment and digitalisation solutions, and Diginius Pte. Ltd. (“Diginius”), a provider for IT security and infrastructure solutions, are pleased to announce a merger between both companies via a share swap transaction that will value the enlarged fintech enterprise, TechCreate Group, at USD$30 million, based on a valuation that was recently completed by one of the Big 4 accounting firms.

From left: Mr Lim Heng Hai, (Group CEO of TechCreate Group) and Mr Ronald Vong, (Managing Partner of TechCreate Group)

As a trusted leader in digital solutions, TechCreate has been at the forefront of technology innovation and since its establishment, it has developed its own proprietary Real-Time Payment Engine (RTE) that can further enhance the payment capabilities of financial and banking institutions. Leveraging its technological expertise, legal experience and extensive operational track record, TechCreate has successfully enabled end-to-end digital solutions (such as payment gateways, API gateways and blockchain solutions, among others) for several banking and financial institutions in Asia.

With Diginius’ strengths in intelligence and security for concrete cyber resilience, it has built a growing track record with a focus on delivering technology solutions related to cyber security, hyper-converged IT infrastructure and secure application services. Diginius also works with some of the industry’s indisputable experts in cyber security and secured infrastructure services, combined with market-leading technologies to provide a springboard for the next phase of digital transformation.

The current CEO of TechCreate, Mr Lim Heng Hai, will be appointed as the Group CEO of TechCreate Group, while the current CEO of Diginius, Mr Ronald Vong, will be designated as the Managing Partner of TechCreate Group.

Strategic Rationale – Powering the Future of Payments in Asia

According to a Mckinsey report issued on November 2020, Asia has outpaced all other regions in terms of payments-revenue growth over the past several years. The region is also the largest contributor to global payments revenue, generating over US$900 billion in 2019, nearly half the global total. The Asia’s payments industry is expected to return to mid-to-high single-digit growth rates and, by 2022 or 2023, generating more than US$1 trillion in annual revenue.

Notably, the COVID-19 pandemic has accelerated Asia’s payments megatrends and chief among these was the rapidly expanding number of connected and digitally active consumers, with booming e-commerce markets reinforcing the need for digital solutions. The competitive landscape was simultaneously heating up, with the entry of formidable new players–including telecommunications firms, fintechs, “big techs,” and other conglomerates–spurring incumbents to step up their own innovation efforts.

Meanwhile, regulators sought to standardise infrastructure while encouraging competition, fostering the introduction of real-time payments, digital know your customer (KYC), and various local payment schemes.

With a focus on powering the future of payments in Asia, TechCreate Group aims to provide cutting-edge innovation and technology capability to enhance value creation for its customers as follows:

– Expanded business scale with integrated solutions: Having the capabilities to provide more comprehensive and integrated technology solutions related to payment and digitalisation platforms to serve new and existing customers across Asia.

– Strong potential to create new customer value propositions: Ability to broaden its reach and serve diverse customer segments with differentiated requirements and objectives, thereby creating the opportunity and potential to develop proprietary insights and innovative solutions that are aligned with the new trends of payments and digitalisation in Asia.

Commenting on the merger, Mr Lim Heng Hai, Group CEO of TechCreate Group, said, “This is a transformational transaction for both companies, creating an enlarged company with end-to-end digital payment offerings in high-growth verticals as economies in Asia accelerate their digitisation roadmap.

With our combined capabilities, it amplifies our mission be a leading innovative, customer-centric and eco-friendly technology solution provider in Asia.”

Mr Ronald Vong, Managing Partner of TechCreate Group, added, “We are confident that the strengths of the combined company will enable meaningful growth to stakeholders, delivering new value and insights to better serve our markets and customers.

At the same time, it can accelerate our growth and more effectively capitalise on our pipeline and broader market opportunities within the banking and financial industries in Asia.”

For more information on TechCreate Group, please visit: http://www.techcreate.com.sg/

Issued on behalf of TechCreate Group by 8PR Asia Pte Ltd.

Media Contact:
Mr. Alex TAN
Mobile: +65 9451 5252
Email: [email protected]


Topic: Press release summary


Source: TechCreate

Sectors: Exchanges & Software, Cards & Payments, Daily Finance, CyberSecurity, Blockchain, Technology, Banking & Insurance, Digitalization, FinTech


http://www.acnnewswire.com

From the Asia Corporate News Network

Copyright © 2022 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

Source : ACN Newswire

Related Articles

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

NEWS7.ASIA :Singapore-based FinTechs, TechCreate and Diginius, to Merge and Combine Together into an Integrated Fintech Enterprise, TechCreate Group; Focus on Powering the Future of Payments in Asia
https://teenoi.net   https://www.fournitures-de-bureau.biz/   https://pushkar-india.com   https://hommes.fringues.biz   https://stock-chaussures.fr  
--
Near & Dear Pet Seconde Guerre Mondiale en MDF pour Animal Domestique Photo Urne funéraire *  Metformin Use Can Influence Breast Cancer Risk in Women with Type 2 Diabetes – Endocrinology Network *  Top Trumps HARRY POTTER Version Française, 0426 *  reisenthel coolerbag – Sac Isotherme pour Les Courses, complément du carrybag, Isolation épaisse, Doublure Isotherme en… *  007 James Bond Car Collection #47 Ford Fairlane 500 Skyliner (Die another day) *  * Makan Jackfruit Wood With Special Electric Saraswati Veena Traditional Stringed Musical Instrument *  Cottage Craft – Cure-pied *  https://www.newshealth.info   https://monpotagerinterieur.com   https://www.lesbeauxlivres.com/   https://www.arc-cmc.org   https://www.ip0.eu   https://1-maillot-de-bain.com   https://www.lacavernedujouet.com   https://maillots-de-bain-shop.com   Singapore-based FinTechs, TechCreate and Diginius, to Merge and Combine Together into an Integrated Fintech Enterprise, TechCreate Group; Focus on Powering the Future of Payments in Asia : news7

news7.asia Singapore-based FinTechs, TechCreate and Diginius, to Merge and Combine Together into an Integrated Fintech Enterprise, TechCreate Group; Focus on Powering the Future of Payments in Asia