Monee will be establishing centres of excellence in product management, artificial intelligence and anti-money laundering
[SINGAPORE] Sea’s digital financial services arm has rebranded from SeaMoney to Monee, a new umbrella segment for all of Sea’s digital financial services.
This was announced on Thursday (May 8) as part of the new office opening of Sea’s digital financial services headquarters at Rochester Commons. Monee will be the main occupant of the CapitaLand property, taking up 10 of the 17 floors.
The two digital banks, MariBank in Singapore and SeaBank in Indonesia and the Philippines, as well as payment and loan services, will now be part of the Monee segment of Sea. Some highlights of the digital financial services include more than S$1 billion in MariBank’s Mari Invest SavePlus Fund, making it one of the largest Singapore dollar money market funds in in the Republic.
“Today, with over 26 million active credit users, our loan book has grown to over US$5 billion – a reflection of the scale of the unmet demand that we are serving,” said Forrest Li, chief executive of Sea.
A digital banking group has also been launched under MariBank.
Monee will be establishing centres of excellence in product management, artificial intelligence and anti-money laundering in its new headquarters. The office will accommodate 1,000 employees, with a capacity of up to 1,500.
“These centres of excellences deepen Singapore’s expertise in domains that will take on greater importance in the industry, as nefarious activities become more sophisticated,” said Tan See Leng, Minister for Manpower and Second Minister for Trade and Industry, at the office opening.
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