New Chief Selected by Sea’s Digital Bank to Tackle Tough Competition
Search our blog for articles and insights right here, just type your interest and dive into a world of knowledge.
Popular articles
New Leadership at Sea Ltd.'s Singapore Digital Bank
In a significant strategic move, Sea Ltd. has appointed Natalia Goh as the new head of its Singaporean digital banking unit, MariBank. Goh, who previously served as the operating chief at Trust Bank, is set to replace Yu Dong Zheng in this leadership role. Zheng, who led MariBank for the past two years, will transition to an advisory position within the company.
This executive reshuffle was made public through announcements on LinkedIn pages by the involved executives. Goh brings with her a wealth of experience, having served as a managing director at Standard Chartered where she was responsible for credit cards and unsecured lending in Singapore before her tenure at Trust Bank beginning in 2022.
The competition within Southeast Asia’s burgeoning digital banking sector is becoming increasingly fierce. Newer entrants like MariBank are vying against established players to attract a tech-savvy consumer base in a region that boasts over 650 million people. Notable competitors include Standard Chartered’s Trust Bank and GXS Bank, a joint venture between Grab Holdings Ltd. and Singapore Telecommunications Ltd.
For Sea Ltd., the digital banking arm represents a crucial area of growth, especially as its gaming division experiences fluctuating revenue streams. The company's e-commerce platform, Shopee, continues to be its primary revenue driver.
