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Former DBS Managing Director of Global Transaction Services Lum Yin Fong appointed to NETS Board

Banking veteran joins as Independent Director and will support the Board in driving the Singapore payments space

Singapore, January 23, 2020 – Network for Electronic Transfers (NETS), Singapore’s leading payment services group, today announced the appointment of Ms Lum Yin Fong as its new Independent Director to the Board, with effect from January 22, 2020.

Ms. Lum is the former Managing Director of DBS Bank’s Global Transaction Services with its Investment Banking Group. Serving as MD from 2 April 2001 to February 28, 2017, Ms. Lum was responsible for the strategic development, governance and profitability of the bank’s Cash Management and Trade Finance products and services.

Since retiring from DBS, she has continued to serve as Independent Director at Banking Computer Services Private Limited (BCS), a NETS subsidiary company.

In her new capacity as Independent Director to the NETS Board, Ms. Lum will guide NETS to navigate the transforming payment landscape in Singapore and bring a fresh and objective perspective on matters relating to the corporate strategy, general policy and overall supervision of the company.

NETS Chairman Ching Wei Hong said, “We are very pleased to welcome Yin Fong to our Board as a new Independent Director. Her wealth of experience and deep knowledge in the banking industry makes her a valuable and relevant asset. I am confident she will contribute positively and help to further strengthen our leadership and balance the interest of our shareholders, employees and creditors as we enable greater innovations in the payments space.”

Ms. Lum brings more than 40 years of experience in cash management and trade finance products. Prior to joining DBS, Ms. Lum helped to set up and lead the Global Transaction Services Group at ABN AMRO Bank. Her career began at Citibank, where she left in 1997 as Regional Product Head of Trade Finance and Cash Management.