Aspire Sets New Standards for Compliance Excellence with 5x Growth in IT Security, Risk and Compliance Teams

Aspire, a leading all-in-one FinTech company today announced a significant expansion of its compliance, risk and IT security teams, which has grown 5x in the last 24 months. This strategic move supports the company’s ambitious global growth plans while adhering to the utmost security standards for its clients and partners.

In particular, Aspire is making substantial investments in its global compliance team. The team has doubled in size over the last year, deepening its robust expertise in navigating the complexities of international markets, and helping its clients internationalise with peace of mind. This focus on compliance is pivotal as Aspire expands its global footprint, highlighted by the recent acquisition of an MSO license in Hong Kong, a key milestone in the company’s strategic expansion plans.

Aspire is also bolstering its compliance team with two new strategic leadership appointments. Summer Yu has been appointed as Global Head of Compliance and Tommaso Scarpa as Head of Compliance (Singapore). Summer will be bringing over 20 years of experience in international regulation at PayPal, Bytedance and HSBC. Tommaso’s prior experience includes helming the role of  Group Head of Financial Crime at Currencycloud (a Visa Solution), and will play a critical role in strengthening Aspire’s adherence to compliance standards in Singapore and improving its robust financial crime prevention framework.

With increasingly sophisticated fraud attacks in APAC leading to a reported 20% increase in financial crimes in the region in the past 12 months, Aspire has specialised teams that work closely with Risk, IT Compliance, and Legal departments to maintain a strong IT security framework.

Aspire is PCI-certified and has established an Information Security Management System (ISMS) aligned with the latest ISO standards. The company has also implemented a risk management framework with periodic reviews of IT and security risk exposures, ensuring Aspire’s operations align with its commitment to safeguarding information across its client base of 20,000+ businesses globally.

“A strong compliance culture sets the foundation of Aspire’s growth,” said Andrea Baronchelli, CEO of Aspire. “As we gear up for significant expansion, we are building a team of the best industry experts. By investing heavily in our compliance, risk, and IT security teams, we ensure that Aspire not only meets but exceeds global regulatory standards, paving the way for a robust and sustainable future.”

As a trusted partner to Asia’s fastest-growing SMEs and startups, Aspire counts AirAsia, Love Bonito, Endowus, Pizza Hut and Tech In Asia among its valued clients in the region. The company continues on a robust growth trajectory. Having secured a $100 million USD Series C funding round and achieving profitability in 2023, the company opened its first Financial Technology Excellence Hub in Singapore and was named one of CB Insights’ top 100 global fintech companies.