Thales Drives Fintech Development in Singapore With EDB’s Supportby Fintech News Singapore February 15, 2022
Thales will drive local development of digital technologies for the 5G, biometrics and fintech sectors with strong support from the Singapore Economic Development Board (EDB).
To this end, Thales has established its Digital Identity & Security Engineering Competence Center (ECC) in Singapore with a team of 350 engineers working actively on advanced research, product development, and project delivery for customers worldwide.
As part of its collaboration with EDB, close to 200 of these engineers will work on new digital innovation in the aforementioned sectors.
Thales’ engineers from the ECC will engage in software engineering and development for the fintech sector.
This includes research on security software for biometric payment cards, mobile security and risk-based authentication software, as more governments and institutions accelerate the pace of adoption for digital financial services.
In addition, other teams in the ECC will work on advanced research for biometrics, including embedded AI for enhanced biometric card authentication and using AI algorithms and machine learning for ID fraud prevention, offering governments and enterprises high-technology solutions for secure ID management.
“Over the last decade, we are grateful and privileged to have had the strong support of the EDB to grow our presence and reputation as a digital technology leader here.
We are excited about the next growth chapter, as we further develop our local competencies in new and fast-growing areas such as 5G, cloud, biometrics and fintech.”
Kevin Chow, Country Director and Chief Executive, Thales in Singapore
“This new decision to grow its tech innovation activities in emerging areas such as 5G, biometrics and cloud here is testament to Singapore’s strength as a tech ecosystem.
We look forward to Thales’ activities to develop innovative solutions, products and services for the world, from Singapore.”
said Tan Kong Hwee, Executive Vice President, EDB