AsiaPay started the Singapore Fintech Festival (SFF) 2025 with its annual Keynote Presentations and Fireside Chat series as platforms to explore the latest trends in the industry and as a mark of commitment to leverage the collective energy and experiences of key partners.
First, to engage the industry with the latest original insights, Senior Compliance Manager Mr. Wilfred Chua delivered a presentation entitled “Industry Transformation Continuation and Innovation in Compliance.” As a continuation of his SFF 2024 presentation, Wilfred explored responsibilities and opportunities around emerging trends: (i) regulatory nuances in an evolving macro environment, (ii) stablecoin regulations, (iii) the collective will of ASEAN in tackling financial crime, and (iv) compliance as a strategic enabler.
Wilfred announced the elevation of AsiaPay’s compliance strategy. This is in response to global regulators shifting stance from mere guidance to enforcement. This stance can be clearly seen in AsiaPay’s various licensed markets, most recently in Singapore’s recent fines on payment firms (the first ever in recent history) in June 2025 and increasingly strict fraud controls in Thailand.
Acknowledging that the cost of non-compliance is now higher than before, Wilfred shared how AsiaPay has commenced conversations that are beyond business-as-usual, such as proactively monitoring stablecoin regulations. Such conversations and knowledge of regulatory developments and nuances will go towards spotting blue ocean opportunities.
To counter the increasing sophistication of bad actors leveraging AI, Wilfred discussed AsiaPay’s proprietary Anti-Money Laundering (AML) Drill project. This novel exercise involved the compliance team simulating breach attempts as undercover bad actors to stress-test the organization’s defense framework. This project emphasized that continuous improvement and stakeholder management are key to withstanding modern financial crime tactics.
Finally, Wilfred concluded by saying that beyond regulations, compliance should ultimately be driven by an ethical mission: to stop financial crime. By maintaining a highly secure network and compliant business reach across the region, AsiaPay looks forward to continuing to contribute to the global effort in protecting the lives of those victimized by scam centers across the region.
The two-day fireside chat convened an illustrious gathering of industry leaders. The distinguished roster featured Bernard Quek, Founder & CEO of GHS; Callistus Ong, MD of Merchant Business DCS Card Centre Pte Ltd; Yuen Khai Goh, Chief Executive Officer of Coded Solution; Evelyn Ng, Manager of Commercial Asia Pacific UATP; Ben Bartholomaeus, Head of Partnerships APAC Global Business Solutions Fiserv; and Jeffrey Leong, Regional Head of Operations & Head of Business AsiaPay (Singapore).
AsiaPay’s landmark presence at the 2025 Singapore Fintech Festival, while celebrating its 25th anniversary, served not merely as an ode to its own quarter-century of excellence but as a powerful testament to its unwavering commitment ahead. We reaffirm our pivotal role within the industry, pledging to collaborate with ecosystem partners in forging a future payment technology that is more robust, intelligent, and inclusive.
