RAZER Fintech, the financial technology arm of gaming hardware manufacturer Razer Inc, has appointed Lim Siong Guan as an advisory board member.
Mr Lim was previously the group president of GIC Private Limited from 2007 and 2016, and subsequently adviser to GIC’s group executive committee until March 2019.
“Recognised globally as a thought leader in the global financial services industry, Mr Lim’s vast experience and extensive network will add tremendous value and unparalleled insights to Razer Fintech,” the company said in a media statement on Wednesday.
Established in April 2018, Razer Fintech is an offline-to-online (O2O) digital payment network in South-east Asia. It operates two verticals: business-to-business solution Razer Merchant Services (RMS) and business-to-consumer solution Razer Pay which comprises an e-wallet.
Razer Fintech has processed billions of dollars in total payment value and is posed to roll out innovative solutions as the payment landscape continues to evolve, the company said.
Mr Lim’s appointment comes as the company embarks on its next phase of growth to expand the fintech business regionally and globally, said Tan Min-Liang, co-founder and chief executive officer of Razer.
“With Mr Lim coming on board, we will be able to leverage on his extensive experience and network in the global financial markets to scale up and successfully execute on our strategic roadmap,” Mr Tan added.
Mr Lim is a professor at the Lee Kuan Yew School of Public Policy, instructing on leadership and change management, as well as a senior fellow at the Singapore Civil Service College. He also chairs the board of directors of Swiss Re Asia.
He has served as a board member of the Monetary Authority of Singapore, and as chairman of the Singapore Economic Development Board from 2006 to 2009, where he focused on enhancing Singapore’s position as a global business centre and a critical hub in the global supply chain.
He was the first principal private secretary to the late founding prime minister Lee Kuan Yew, and had a distinguished public service career spanning 37 years, including as head of the Singapore Civil Service, as well as permanent secretary of the Prime Minister’s Office, the Ministry of Finance, the Ministry of Education and the Ministry of Defence.
Said Mr Lim: “I am a firm believer in Razer Fintech’s strategy and vision of addressing the unmet needs of underserved people, particularly the youth and the millennials who are the future consumers of the world, through technology and product innovation.”
Separately, Razer announced earlier this week that it will commit S$10 million in funding towards the Singapore gaming and e-sports scene over the next year. The funding will support e-sports teams, as well as invest in gaming and e-sports companies in Singapore, or those founded by Singaporeans.