Razer is a well-known and respected company in the gaming industry. A while ago, the firm launched its own fintech arm, known as Razer Fintech. This particular outfit has now begun making some big waves.
The Birth of Razer Fintech
It is unusual for a manufacturer of gaming peripherals to enter the fintech sector. Both industries cannot be further apart, at least on paper. In reality, it is all about catering to existing and new customers in different countries.
The main purpose of Razer Fintech is to grow its off-line-to-online digital payment network. This network is currently active in Southeast Asia. Competing with existing providers and new entrants will be crucial. Asia has shown an increasing appetite for innovative payment solutions.
Razer Fintech will seek to extend its digital payments platform. The first way of doing so is through its digital banking solutions. In this modern era, digital banking has become the new normal for younger generations.
Hiring key Advisors
A venture such as Razer Fintech cannot succeed without the right people. Since its inception, the gaming giant’s fintech arm has hired key advisors. In doing so, the company tries to attain a strong position in the Southeast Asian fntech sector.
One of its recent hires is Koh Boon Hwee. The former chairman of DBS Bank has extensive knowledge and contacts in the industry. His previous tenure at Singapore Airlines and Singapore Telecommunications may also prove crucial.
Building a Global Bank
Razer Fintech is making a fair few headlines. Its latest bid to obtain a Singaporean banking license further underlines the team’s commitment. With this license, the company aims to serve youth and millennials.
This banking venture will be known as Razer Youth Bank. That is, assuming the Digital Full bank License will be granted. Combined with the company’s existing digital payments platform, it can unlock a lot of potential.
A majority stake in the bank will be taken up by Razer Fintech. The remaining equity will be distributed among strategic partners.
Several key partnerships are already being forged. Rumor has it this new bank will partner Visa, SkyScanner, an unnamed airline, and others.