Gary Wong, one of the highest profile early movers from the banking sector to Grab, has returned to his former firm, OCBC, as head of digital payments.
As we were the first to report in June 2018, Wong joined Grab as head of GrabPay, its mobile wallet app. Prior to that Wong spent about four years as OCBC’s head of strategic partnerships for lifestyle financing, according to his LinkedIn profile. He was at DBS between 2010 and 2014, latterly as a VP of usage and co-brand products.
Wong’s new move further highlights the ability of banks to attract payments talent from tech firms. Earlier this month Yvonne Tan left Facebook to join Standard Chartered as an executive director for strategic partnerships, digital channels and data analytics, within corporate, commercial and institutional banking (CCIB). She previously worked in an APAC payment partnerships role in Facebook’s financial services team in Singapore.
OCBC has been investing in its Pay Anyone app amid fierce competition among companies for market share in the payments sector, which has been spurred on by the growth of digital payments during the pandemic. Global players TransferWise and Revolut have both opened Asia Pacific headquarters in the Republic. Local firms Grab and Razer are hiring developers for their popular payments apps. Banks are also building their own e-wallets as are a plethora of smaller fintech startups.
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