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Lightnet Expands Reach Throughout Asia Pacific

Lightnet recognizes the opportunity to provide a more inclusive international remittance ecosystem and has a number of business ventures aimed at expanding its reach throughout Asia Pacific.

Lightnet and Hanwha Investment and Securities, a leading South Korean provider of comprehensive asset management services, entered into a technical integration agreement wherein Hanwha Investment Securities agrees to connect to and process transactions over Lightnet's network. Lightnet is responsible for developing the technology solution to integrate Hanwha Investment Securities into the Lightnet Network.

Tridbodi Arunanondchai, Vice Chairman and Group CEO of Lightnet comments: "Our partnership with Hanwha Investment and Securities is an important step towards creating an inclusive international remittance ecosystem. Lightnet is one step closer to providing migrant workers throughout Southeast Asia with access to real-time money transfers."

As part of a consortium that includes Singapore-based digital payments firm MatchMove, digital Banking-as-a-Service platform OpenPayd, and 70-year-old Singaporean bank Singapura Finance, Lightnet has submitted a bid for a digital full bank license with the Monetary Authority of Singapore (MAS). The bid has recently been shortlisted.

Commenting on the partnership, Tridbodi Arunanondchai, says: "There are many synergies between our organisations beyond Singapore which we intend to explore and I believe we can develop a compelling proposition for the underbanked segment across the region."

Lightnet signed a Memorandum of Understanding (MoU) with KogoPAY, a socially conscious mobile payments Fintech start-up, to share operations in electronic banking.

Tridbodi Arunanondchai, continues: "KogoPAY's aspirations to create a versatile new operation are very much in alignment with our technology and we admire the advances that KogoPAY has made within the complex area of electronic banking."

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