Razer Fintech, the financial technology arm of online gaming firm Razer, has hired former DBS Bank chairman Koh Boon Hwee as an advisory board member to help with its global payments push, the firm announced on Wednesday.
Wednesday’s appointment came less than a month after the fintech startup hired Lim Siong Guan, who previously worked for GIC and the Monetary Authority of Singapore, as an advisor.
The appointment of Koh, a veteran entrepreneur and investor, highlights the region's ongoing battle-royale for payments supremacy. It also underlines the ambitions of Razer Fintech, which was set up in April last year and has already processed over $2 billion in total payments.
Apart from being the chairman of DBS Bank, Koh has also served as chairman of blue chip corporates such as Singapore Telecommunications and Singapore Airlines. He had previously served on the board of Temasek Holdings.
Koh is also currently the chairman of Credence Capital, a private equity fund focused on investing in small and medium-sized enterprises in Southeast Asia.
“Unlike many other fintech providers which are bound to certain geographies, Razer, as the world’s leading lifestyle brand for youth and millennials, has a truly global reach,” Koh said in a statement.
“I am confident that Razer Fintech, with its unique proposition of focusing on addressing the needs of the youth and millennials who today already constitute the majority of the working population globally, will be uniquely poised to become their preferred financial provider.”
“With the move of regulators to liberalise banking including the grant of digital bank licenses, we are excited to have Mr. Koh on board as our esteemed advisor as we seek to rollout our digital payments solutions and explore the development and launch of digital banking platforms in Singapore and globally,” said Min-Liang Tan, co-founder and chief executive officer of Hong Kong-listed Razer.
Razer Fintech generated more than $828 million in total payment value in the first half of 2019 and $1.4 billion for the year ended December 31, 2018, according to its interim financial filing.
