Ravi Chandran
Netcetera takes another step towards global expansion with office in Singapore
In March 2020, the Swiss software company opened its fifteenth location with an office in Singapore. Singapore is considered the financial capital and fintech hub of the region and is another step towards the East for Netcetera.
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“With Singapore we are setting the next milestone in our going global strategy” says Dr. Andrej Vckovski, CEO of the Netcetera Group.
He is aware that competition in the APAC region is fierce, “but as the market leader in 3DS in the DACH region and with the excellent payment products already well established in Europe, we are a competitive player for the Asian market.
The current situation demands even more stable, secure and mobile payment options for e-commerce worldwide.” The Swiss software company offers excellent digital solutions for secure payment, mobile banking, mobile contactless payment, digital wallet and 3-D Secure Services for secure online transactions, to name just a few examples of their service portfolio.
Closer to customers with an experienced managing director
Until now, Netcetera supported its Asian clients from Europe and Middle East. With the step into the Far East, Netcetera is now closer to them and thus improves the cooperation. This enables Netcetera to better respond to their customers’ needs and to find optimal solutions for their business. In addition, the new location also contributes to the early detection of regional market trends and a better understanding of the market as well as the ability to help shape it.
Kiril Milev, Netcetera employee for many years and most recently Managing Director Middle East, will become Managing Director in Singapore. His ongoing work at Netcetera provides him with business and technological knowledge as well as a lot of experience in the near-shore context. In his role as Managing Director, Kiril Milev is responsible for business development and customer relations. “We see great opportunities to establish ourselves on the Asian market”, says Kiril Milev. “Our specialists’ know how to meet the requirements of the financial technology industry with their in-depth expertise and our qualitative range of products and services”.
Netcetera has extensive experience in digitization and tokenization, the implementation of blockchain and distributed ledger (DLT) technologies, and especially in digital pricing of local real estate objects. For over 20 years, it has been implementing business-critical processes in software, as individual solutions for their clients or as products.
They have provided support in the pricing of real estate and in real estate portfolio management within the scope of customer projects. Their software components can be found in pricing tools of real estate consultants and in platforms for real estate trading. They are able to support the entire value chain of the conception, tokenization, technical implementation on blockchain protocols and pricing of the objects, up to the digital distribution of the tokens.
Blockchain technology, which first found burst into mainstream as a secure platform for cryptocurrency, is today being extended to transform industry sectors on a holistic ecosystem basis. Healthcare, banking and insurance are just three industries where blockchain technology has found wide acceptance because the technology provides transparency and accountability, which makes them particularly suitable for recording and managing ledgers.
Because it is secure by design, blockchain technology is expected to impact several sectors including healthcare, real estate, legal industry, security, government, education and, charities and aid organisations.
For example, many donors who contribute to the various causes in the charities sector worry if their donation reach their intended beneficiaries. Blockchain technology allow charities to create trust through smart contracts and online reputation management systems which can help donors trust that their money is going to the specified cause.
But besides disrupting industries, can blockchain technology create social impact? How can blockchain create change – what are the factors contributing to its adoption, what are the risks involved and what is the potential in this area for changemakers and the underserved population?
Benefiting the world with blockchain
Blockchain technology, with its transparent, immutable qualities aligns with a nonprofit business model. Using the technology can enable the reduction of global economic inequality, grant people first-time access to the financial system which has largely ignored or exploited them.
Blockchain Against Hunger: Harnessing Technology in Support of Syrian Refugees
U.N.’s World Food Programme is implementing a blockchain based system that allows refugees to get food with an iris scan, instead of relying on cash, credit, or vouchers, all of which can be stolen.
Samsung And South Korean Enterprises Enter The Blockchain powered ID Race
South Korean mobile giant, Samsung teams up with three financial services companies to launch a blockchain-based mobile identification system next year. Through its application, it removes individual consumers’ dependence on a central intermediary to verify their identity and manage their personal data when making online transactions.
Blockchain powered educational revolution
Blockchain technology can disrupt the education sector by providing an avenue to verify certificates, creating a one-stop education profile, getting students ready for exams, and by creating a hyperledger. Japanese electric company, Sony utilized IBM blockchain technology to consolidate an online depository of education records.
The Monetary Authority of Singapore (MAS) on Jan 28, announced the commencement of the Payment Services Act (PS Act). The new PS Act will enhance the regulatory framework for payment services in Singapore, strengthen consumer protection and promote confidence in the use of e-payments.
