Ron Sim's V3 Group sets up fintech unit, hires ex-Fullerton, Temasek veteran
LIFESTYLE products group V3, owner of OSIM and TWG Tea brands, has set up a fintech business unit in October to pursue related opportunities in the region, as well as develop digital financial services, especially for the small and medium-sized enterprise (SME) segment.
To add heft to its fintech ambitions, the group pulled in former Temasek veteran and seasoned financial sector leader Gan Chee Yen as senior adviser to V3 Fintech.
He is the immediate past CEO of Fullerton Financial Holdings, which invests in and operates financial institutions in emerging markets. Prior to that, Mr Gan was co-chief investment officer, senior managing director, special projects, and head of China market at Singapore state investor Temasek International. He was also chief financial officer of Temasek.
In his new role, Mr Gan will advise group executive chairman and CEO Ron Sim on its fintech strategy in the region.
Mr Gan said: "Having spent a large part of my entire career nurturing developments in this sector, I am pleased to support V3's vision of helping to uplift SMEs and their workforce, through digital innovations designed to encourage good financial behaviours that can improve the well-being of both businesses and their employees."
V3 Fintech will identify and address gaps in the financial services sector, particularly those that affect SMEs and their workforce, to come up with innovative financial offerings. It will also harness technology and data to work with stakeholders to enhance stability and improve financial inclusion across communities in the region. The unit intends to develop data-driven financial solutions to support enterprises and people, bolstering Singapore's position as a leading regional hub for innovative financial services.
Mr Sim said: "As a business builder and employer, I understand the challenges faced by many SMEs and their workforce. With more innovative digital financial services made available to these drivers of our economy, they will be able to continue to strengthen their operations and improve stability."
