MonetaGo appoints first Head of Australia and New Zealand operations

abdelaziz Fathi

FinTech startup MonetaGo today announced the appointment of Mark Borton to the position of managing director, Australia and New Zealand. The new hire comes barely a week after the firm has named its first head of strategy in Europe, tapping Oswald Kuyler, to chart the firm’s continental expansion.

MonetaGo

In his newly created role, Borton brings a broad perspective of the Asia Pacific market. He is tasked with delivering closer collaboration across MonetaGo’s different lines of business, as well as its industry, to help simplify each customer’s move to digitally transform their trade finance.

In the role, Borton will also focus on optimising the flow of products to help APAC institutions combat financial fraud and overcome paper-based manual document workflow inefficiencies.

Prior to landing at MonetaGo, Borton served more than 11 years at National Australia Bank (NAB), where he held the dual roles of head of transactional & trade sales, and head of trade & working capital product. His professional experience, which dates back to 1987, also encompasses stops at Commonwealth Bank of Australia. There, he spent three years as trade and finance product head within the working capital team.

The bulk of Mark’s career was spent at Standard Chartered where he worked 25 years, most recently as regional head of trade and cash management services for Hong Kong and Northeast Asia.

MonetaGo to sharpen focus on the Asia Pacific

Jesse Chenard, CEO and founder of MonetaGo, comments: “Mark is well known in the industry, having represented all of the banks he has worked for in various capacities at the ICC. His solid on-the-ground knowledge of the region gives him unique insights into how outdated, paper-based processes are holding back trade. He’s exceptionally well-placed to drive our work to prevent fraud in trade finance, and we’re thrilled to have him on board.”

The creation of this new managing director of Australia and New Zealand role is designed to focus on fostering MonetaGo’s presence in the APAC market.

MonetaGo solutions aim to lower the risks that are associated with duplicate financing and fraudulent documents used in trade finance. The fintech first launched its operations back in 2018 in India, where they are used by commercial banks and non-bank financing companies. In its most notable milestone, MonetaGo teamed with SWIFT to provide banks access to a trade finance validation service via the bank cooperative’s Global API Gateway.

“Joining MonetaGo provides an exciting new avenue to work on applying digital technologies to solve problems in trade finance. I’m looking forward to applying a personal passion around the digitalisation of trade finance to bring about opportunities for banks, non-banks and businesses to gain increased financing as well as reduce risk,” added Mark Borton.

Read this next

Retail FX

Stephen Kalayjian launches educational and community platform TradeEZ

TradeEZ has partnered with online broker TradeZero to provide chart overlays that can be accessed on the TradeZero platform. In the future, the firm will be looking to partner with some of the largest firms around the world.

Retail FX

LiteFinance launches new mobile app on Google Play

The mobile app allows users to trade and copy professional traders’ positions and gain access to trading chat rooms.

Technology

ECXX taps OneTick for data management and analytics

OneTick is asset class-agnostic and currently has customers across FX, equities, futures, CFDs, FI, and options.

Industry News

$1.5 million: SEC fines BNY Mellon Investment Advisor for misstatements and omissions about ESG

Investors are increasingly focused on ESG considerations when making investment decisions.

Digital Assets

Mercuryo reaches 3 million users amid crypto payments’ US and Asia expansion

“The opportunities for linking crypto and fiat currencies are abundant. From crypto projects that require fiat solutions (like fiat on and off ramps and IBANs), through to crypto for traditional fiat systems, and solutions for fintech companies that enable clients to buy or sell crypto within their own infrastructure.”

Retail FX

Maltese watchdog warns of bogus broker Perfect Choice Trade

The Malta Financial Services Authority (MFSA), the regulator responsible for the oversight of the forex  sector in the Mediterranean island, today issued a warning against a forex broker that offers its services without having the authorization to do so.

Digital Assets

Dukascopy warns of fake website impersonating its cryptocurrency

Switzerland’s forex bank and broker, Dukascopy, today warned against a fraudulent website that have been falsely claiming affiliation with its ‎authorized brand.‎

Uncategorized

Freetrade raises £30 million to fund business expansion

Freetrade, which calls itself a challenger stockbroker, has raised £30 million in debt financing led by a clutch of existing investors.

Digital Assets

Crypto assets under management at lowest point since July 2021

Crypto investment products registered outflows for a second consecutive week, the bulk of which came from bitcoin funds, according to data from digital asset manager CoinShares.

<