Synopsis
FAST (Fast and Secure Transfers)
On 17 Mar 2014, transferring money from one bank in Singapore to another will only take minutes, rather than days. This new electronic funds transfer service, called Fast and Secure Transfers (FAST) is available to customers of the 14 participating banks[1]. The service will let customers move funds of up to S$10,000 per transaction between participating banks immediately and can be used after office hours, and on weekends and public holidays.
In this one hour seminar, Mr Ng Peng Khim will share the technology, the processes, the people behind FAST and its implementation journey. More importantly, Mr Ng will share how bank customers can expect and benefit from FASTer payment.
[1]The 14 participating banks are ANZ Bank, CIMB Bank, Citibank, DBS Bank, Deutsche Bank, Far Eastern Bank, HSBC, Maybank, OCBC Bank, RHB Bank, The Royal Bank of Scotland, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation and United Overseas Bank.
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About the Speaker
Mr. Ng Peng Khim
Mr. Ng Peng Khim is Managing Director, Head Institutional Banking Group & Support Functions Technology and Emerging Locations Technology at DBS Bank. Mr. Ng has over 20 years of experience in delivering business strategies and technology architectural expertise in the financial services sector.
Mr. Ng is responsible for Institutional Banking Group Technology and Emerging Locations Technology. His achievements include the successful implementation of core banking application Finacle across DBS offices, build the payment gateway including SWIFT and DBS IDEAL3 for the future banking in Asia and more recently, established a Financial Risk Data Mart to enable a more robust internal engine to view our bank’s finance and risk position.
Prior to joining DBS in 2009, he worked in Citigroup for 17 years where he held various senior positions with both local and regional responsibilities. His last held the position was Managing Director and Head of Asia Pacific Corporate and Investment Banking Technology. Mr Ng. started his career with Singapore Housing Development Board before joining Citigroup.
Mr. Ng was a Singapore Public Service Commission scholar and graduated with First Class Honours from University of Melbourne.
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