SINGAPORE - Media OutReach - 2 March 2021 - TranSwap, a fintech company which empowers global business growth by simplifying global payments and collections, has officially launched a new global Research and Development (R&D) centre at the University of Edinburgh. Located at Bayes Centre, the R&D centre aims to drive technology and market-led innovation in cross-border financial solutions, enabling TranSwap to strengthen its capabilities in fintech and expertise in AI-driven payment solutions. This global R&D centre follows the launch of TranSwap's new office in the UK.
Leveraging on the expertise of Bayes Centre, the School of Informatics and the Business School, the partnership between TranSwap and the University brings together world-leading data science and AI teams, industry experts, and innovation support professionals in the fields of computation, information and cognition. R&D and product innovation at Bayes Centre will focus on state-of-the-art methodologies in speech recognition, Natural Language Processing, 5G, blockchain, data analytics and machine learning -- accelerating TranSwap's capabilities to deliver a streamlined cross-border payment and collection experience. In addition, the partnership will help develop research talents and create new jobs at the Bayes Centre.
"Today's cross-border payments industry is at the centre of fintech innovation which has shaped competitive dynamics globally. New business models resulting from emerging technologies, digital transformation of payment methods and development through tech-enabled innovation are continuously disrupting cross-border payments, by optimising and automating the transaction process. Partnering with the University of Edinburgh to transform our current digital cross-border payments platform, will allow us to tap into emerging technologies such as NLP and 5G to speed up cross-border payments, sharpen our competitive edge and maximise profitability through enhanced fraud detection system, sentiment and risk analysis. TranSwap aims to become a cross-border payments, collections and financial solutions provider that serves as a touchstone for financial innovation in major global financial centres. Such innovations can unlock opportunities to drive consistency and provide a seamless cross-border payment experience," said Mr. Sanjay Rakshit, Head of Products and R&D of TranSwap.
Mr. Grant McKenzie, Director & UK Country Head of TranSwap, added, "TranSwap's R&D partnership with the University underlines our commitment to drive innovation in the payments industry. The University's research expertise, along with our design approach in our system architecture, platform development and interfaces, will help ensure a seamless user experience through our platform."
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