SINGAPORE - Media OutReach - 5 February 2020 - Singapore-based cross-border payments platform TranSwap today announced that it won a FinTech Award 2019 for its efforts in delivering a secure, cost-effective and convenient cross-border payments solution to businesses in Hong Kong. This comes at a time when FinTech plays an increasingly important role in the country's financial sector, and financial firms are seeking collaborative opportunities with FinTech to accelerate innovation and excellence in the industry. TranSwap's business-focused cross-border payments solution arrives to fill the void, facilitating efficient and affordable inter-country fund transfers for these companies.

Organised by ET Net Hong Kong and co-organised by Cyberport and Hong Kong Science & Technology Parks Corporation, the award ceremony was held on 17 January 2020. TranSwap was the sole winner for Outstanding SME Cross-Border FX Platform in the FX / Payment Solutions category.

The award is a testament to the company's ongoing efforts to help businesses reduce FX costs and complexity to accelerate growth and expansion into international markets. Through understanding businesses' specific needs and requirements, TranSwap is able to tailor its solutions to meet each SME's needs. As an example of a significant project, TranSwap recently developed a payment solution with API integration for seamless transfer from collection to settlement. The solution allows small transfers in large volumes to be credited directly to beneficiaries' wallets and bank accounts in real-time, drastically improving processing speed and optimizing settlements, which is essential for maintaining cashflow.

Benjamin Wong, co-founder and CEO of TranSwap, shared that "Businesses in Hong Kong can tap on our efficient, transparent and tech-powered platform for settling their international payments in a seamless, fast and affordable manner."