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.
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 His solid on-the-ground knowledge of the region gives him unique insights into how outdated, paper-based processes are holding back trade.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.