LianLian Global Co-CEO Tim Shen Discusses Advancements in Cross-Border Trade at Money20/20
BANGKOK, April 26, 2024 /PRNewswire/ -- Money20/20, the world's leading fintech exhibition, took place in Bangkok, Thailand, from 23-25 April, 2024, bringing together thousands of innovative thinkers from the payment, fintech, and broader financial services industries to explore the latest trends, technologies, and strategies that are shaping the future of fintech and financial services.
Tim Shen, Co-CEO of LianLian Global, was a featured speaker, alongside notables such as Tessa Wijaya, Co-Founder and COO of Xendit, Ling Wu, Founder and CEO of TBCASoft, and Tracy Prandi-Yuen, Vice President of Global Partnerships at Boku. They engaged in a robust discussion on the intricacies of cross-border trade. Additionally, the head of Lianlian Hong Kong China and the head of International Financial Cooperation at LianLian Global contributed their views on the driving forces behind fintech innovations, emphasizing the enhancement of B2C and B2B multi-scenario payment and settlement solutions.
Mr. Shen addressed the escalating challenges posed by global trade tensions and increased compliance scrutiny, emphasizing the critical role of compliance for cross-border businesses. He outlined the key benefits to customers of maintaining strict adherence to compliance rules:
· it serves as the cornerstone for ensuring transaction security, preventing the loss of individual assets, and shielding businesses from legal entanglements;
· it is crucial for establishing a good business reputation, which is helpful for obtaining the trust of customers and expanding business opportunities; and
· it provides a strong support for companies' global expansion efforts and mitigates their risk of facing international sanctions due to non-compliance.
As of 30 September 2023, Lianlian had established a robust global portfolio of 64 payment licenses and related qualifications, and has served approximately 3.2 million merchants and businesses across a variety of industries, including e-commerce, services and manufacturing, spanning more than 100 countries and regions.
Mr. Shen reiterated that Lianlian has always prioritized "Compliance First" and aims to become a leading digital payment solution provider with strong risk management capabilities. Capitalizing on the new opportunities brought about by digital globalization, Lianlian remains committed to leveraging scientific and technological innovation as its primary driving force. The company will continue to optimize and enhance its cross-border trade services and compliance systems to better serve its customers worldwide in an increasingly complex global trade environment. This, in turn, will spur the development of new productive capacities and advance the quality of foreign trade.