Daon Announces Trilochan Sehgal as Regional Vice President, South East Asia

Proven Sales and Cybersecurity Executive to Lead Company's Growth in the Region

Daon, a global leader in digital onboarding and biometric authentication technology, today announced the appointment of Trilochan Sehgal as Regional Vice President, South East Asia, and the opening of a new office in Singapore. The announcement affirms the importance of South East Asia to Daon and places the company in a strong position to respond to the growth of digital banking in the region.

Based in Singapore, Sehgal is an industry veteran with more than twenty years of experience in cybersecurity, including many years at IBM, where he led the identity and access management software business for APAC.

"Digital technology is transforming Asia's economy with a projected threefold rate of growth in the digital economy alone," said Tom Grissen, CEO, Daon. "Due to the importance of this region to Daon's global business, we are embarking on significant expansion plans, including establishing a new presence in Singapore, in addition to our well-established presence in Hong Kong, and appointing a high-calibre, seasoned identity professional in Trilochan Sehgal to lead our business as Vice President of South East Asia."

Daon's trusted solutions are deployed by leading financial institutions across the world. In Asia, Daon's clients include Japan's SMFG/SMBC, Standard Chartered Bank and a host of Hong Kong based banks as well as The Hong Kong Jockey Club, which uses Daon technology to enable frictionless engagement with its betting apps. In 2020, the company's presence in Asia has already expanded to include significant new partnerships. In March, the company also announced a contract to deliver digital onboarding and mobile biometric authentication to Singapore based TONIK, which provides the first digital-only bank in the Philippines. New virtual banks like Standard Chartered Bank's Mox in Hong Kong are also using Daon's technology and are currently live in production.

"Despite some difficulties imposed by the pandemic, digitization efforts by many South East Asian customers have recently been fast-tracked, and Daon's technology plays an important role in enabling these initiatives," said Sehgal. "Daon's stellar track record with global customers, combined with Singapore, Malaysia and Thailand gearing up to open the industry to new players in virtual banking, makes for great timing to invest in the region."

Daon is supported in its regional expansion by Enterprise Ireland, Ireland's trade agency responsible for the development and growth of Irish enterprises in world markets. "Enterprise Ireland are delighted to welcome the appointment of Trilochan Sehgal as South East Asia Regional Vice President for Daon in the region, and congratulate the company also on the opening of its office here in Singapore. Daon exemplifies the world leading calibre of Irish expertise and industry leadership in fintech, and it is exciting to see the value that Irish innovations bring to Asia," said Kevin Ryan, Director for ASEAN at Enterprise Ireland. "These developments and the demonstration of commitments from client companies into the region are testament to the importance of South East Asia to their global success. We look forward to further similar commitments by client companies in 2021 and beyond."