eAsiaFinance will be based in Singapore and is a joint venture between SEB, Ankar Capital Management, an American company focused on asset management consulting, Tata Consultancy Services, Asia's largest IT service company, and Compass Ventures, a financial investor. SEB is providing the technical platform and investing about SEK 22 M in the company.
"In recent years many banks and financial institutions from around the world have contacted us at SEB to compare our e-banking development and asset management with their own. Most have been impressed by our advances," says Lars H Thunell, President and CEO of SEB.
"It is natural for us to create a business aimed at institutions who wish to develop their e-banking. We now gain the opportunity to capitalise on the investments we have made in e-banking more actively in external markets," continues Lars H Thunell.