Cash management software specialist Cashfac Technologies has opened an office in Singapore and named Mike Walsh as managing director, Asia Pacific.
The company said that the growing importance of Asia in the world economy has seen concerted efforts from banks and corporate institutions to step up their cash management and payments infrastructures. This move is, in turn s driving demand for Cashfac’s technology solutions in Asia.
Based in Singapore, Walsh will be responsible for overseeing the company’s sales, business development and customer services strategy in Asia Pacific. He was previously business development manager for South East Asia at Calypso Technology and before that regional director at SmartStream Technologies. He also spent over 20 years at Thomson Reuters in various leadership roles based in London, South Africa and Asia.
“The regional markets across Asia Pacific represent a fantastic opportunity for Cashfac – as APAC domestic firms respond to regulation and continue to expand their operations the efficient management of cash is a priority,” said Alastair McGill, global managing director, Cashfac.
“In addition to the local market pull we’re supporting our existing clients from Europe and Australia as they expand operations across the Asia Pacific region.”
The US money market fund reforms came into effect in 2016 and are already dramatically shaping US fund industry with investors flooding out of prime funds and into government securities. While the reforms are similar, they are not the same. GTNews interviews Yeng Bulter, global head of the cash business at State Street Global Advisors on the differences.
The top five sectors Asian fintech investors are interested in are data analytics, blockchain, lending, payments and regtech, according to Gary Hwa, EY regional managing partner.
On the third day of the Singapore Fintech Festival conference, there was a focus on specific applications of fintech innovation. One was trade finance, which is clearly is ripe for a revolution.
Kicking off day two of the Singapore Fintech Festival, Deloitte Chairman David Cruikshank said that fintech is significant for three reasons. First, customer expectations of services are higher than ever. Second, barriers to entry are lower than before. And finally, financial institutions (FIs) face a threat of what a competitor might do.