Jewel Paymentech
 | |
Type of site | Private company |
|---|---|
| Founded | 2015 |
| Headquarters | Singapore |
| Area served | Asia Pacific, Europe, US |
| Founder(s) | Sean Lam, Wooi Siang Lee, Sandra Cheim |
| CEO | Sean Lam |
| Key people | Sean Lam (Co-Founder, CEO) Wooi Siang Lee (Co-Founder, COO) Sandra Cheim (Co-Founder, CFO) Paul Condylis (CTO) Ser Yoong Goh (CIO) |
| Industry | Financial Services |
| Services | Regulatory Technology, Merchant On-Boarding, eKYC, Counterfeit Detection, Fraud Prevention |
| Employees | 40+ (2019) |
| Website | https://www.jewelpaymentech.com |
| Launched | January 2015 |
Jewel Paymentech is a Southeast Asian startup based in Singapore that develops intelligent risk management technologies for ePayment merchant acquirers to support the the cash to cashless conversion journey..[1] [2]
Products[edit]
Jewel Paymentech develops technologies to aid payment networks, banks, telcos and FinTechs to on-board merchant rapidly and to manage risks associated with electronic payment acceptance. It has three core products: Capture for secure merchant on-boarding, One Sentry for illegal and prohibited product analytics and Fraud Wall for real-time fraud prevention.[3]
All three of its core products received Singapore Government's Info-communications Media Development Authority SG:D accreditation in 2018.[4]
History[edit]
The company was co-founded by VISA alumni Sean Lam and Wooi Siang Lee together with Sandra Cheim in 2015. The company was an early recipient of the ACE startup grant from SPRING Singapore (Now known as Enterprise Singapore)[5]
In 2015, Jewel Paymentech selected as the Asia Pacific winner of the prestigious financial technology Innotribe Challenge hosted by SWIFT Payment Network.[6] In 2017, It was named one of the Top 7 AI startups in Financial Services by MEDICI[7]. In the following year of 2018, it was named one of the Top 7 AI startups in RegTech by MEDICI[8]
Investors[edit]
In 2016, Jewel Paymentech received an undisclosed investment from Wells Fargo as part of it's Series A investment. Steve Ellis, head of Wells Fargo's Innovation Group said “Jewel Paymentech’s risk technology and focus on onboarding procedures and speed and scalability in a bank’s merchant acquisition efforts make it particularly interesting for us to explore.” [9] It is also the first Asian startup to receive an investment from Wells Fargo. [10]. Other Series A Investors include Tuas Capital Partners and 8Capita Singapore.
Tokyo Stock Exchange Listed GMO Payment Gateway (TYO: 3769) led an 2018 Series A+ investment round [11]. The round was followed on by existing investor Tuas Capital Partners.
Partnerships[edit]
In April 2017, Bursa Malaysia Listed GHL Systems Berhad (GHLSYS) teamed up with Jewel Paymentech for eKYC, credit risk, fraud risk and Anti Money Laundering (AML) technologies for its eCommerce and POS acquiring business.[12]
In October 2018, Malaysian FinTech Soft Space partnered up with Jewel Paymentech for eKYC and fraud management technologies.[13]
See also[edit]
References[edit]
- ↑ "Jewel Paymentech Helps Banks Challenge FinTechs". pymnts.com. 2017-09-19. Retrieved 11 February 2019.
- ↑ "Jewel Paymentech Raises Series A A". yahoo.com. Retrieved 11 February 2019.
- ↑ "Automate the boring stuff". theedgesingapore.com. 2017-01-03. Retrieved 11 February 2019.
- ↑ "SG:D Accredited companies". imda.gov.sg. Retrieved 11 February 2019.
- ↑ "Jewel Paymentech Raises over S$1.5M in Series A Funding". finsemes.com. 2016-01-27. Retrieved 2016-01-27.
- ↑ "Singapore Winners Innotribe 2016". finextra. 2015-05-29. Retrieved 2015-05-29.
- ↑ "Medici Top 21 – Unveils the Leading Companies in AI". forwardlane. 2017-07-17. Retrieved 2017-07-17.
- ↑ "MEDICI Top 21 - RegTech Awards: Unveiling Leaders Building the Future of Regulatory Compliance". MEDICI. 2018-07-20. Retrieved 2018-07-20.
- ↑ "Jewel Paymentech enters Wells Fargo's startup accelerator program, gets funding". techinasia. 2015-05-29. Retrieved 2016-06-08.
- ↑ "Homegrown fintech is first Asian startup to win funding from Wells Fargo". BusinessTimes. 2016-06-09. Retrieved 2016-06-09.
- ↑ "Singapore's Jewel Paymentech raises Series A+ funding round led by GMO Payment Gateway". e27. 2018-03-14. Retrieved 2018-03-14.
- ↑ "GHL to use Jewel's security solutions". MalaysianReserve. 2017-04-08. Retrieved 2018-10-15.
- ↑ "Soft Space Partners Up With Singaporean Fintech Firm for eKYC and Market Expansion". BusinessTimes. 2018-10-15. Retrieved 2018-10-15.
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