Daon Targets APAC Market with New Office in Singapore

Daon is looking to raise its profile in Asia with a new office in Singapore. The office will operate under the direction of Trilochan Sehgal, who has been appointed as the company’s new Regional Vice President for Southeast Asia.

Sehgal brings more than 20 years of cybersecurity experience to the position. His career includes an extended tenure at IBM, where he oversaw the company’s identity and access management software business for the APAC region.

As regional VP, Sehgal will be expected to secure new partnerships and build on Daon’s recent success in Asia. The company currently provides onboarding and authentication services for a number of Hong Kong banks, in addition to the Hong Kong Jockey Club and SMFG/SMBC in Japan. It has also made inroads with virtual banks after partnering with Singapore’s Tonik, and with Standard Chartered Bank’s Mox platform.

Tonik launched the first digital bank in the Philippines earlier this year, and is using Daon’s IdentityX to onboard new customers. IdentityX can verify the identities of users with face, voice, and fingerprint recognition. Daon, meanwhile, is hoping to take advantage of the growing demand for secure biometric authentication.

“Digitisation efforts by many South East Asian customers have been fast-tracked, and Daon’s technology plays an important role in enabling these initiatives,” said Sehgal. “Daon’s track record with global customers, combined with Singapore, Malaysia and Thailand gearing up to open the industry to new players in virtual banking, makes for great timing to invest in the region.”

Daon is based in Ireland, and will have the support of the country’s Enterprise Ireland trade agency as it moves forward with its expansion. The company previously brought on Ari Schuler as its new VP of Emerging Markets. It has also launched a contactless screening pilot at Denver International Airport.

Sources: finews.asia, FinTech Singapore

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October 7, 2020 – by Eric Weiss