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Singapore, MEA, 11th September 2023
As digital payments continue to gain ground, overshadowing traditional cash transactions, the demand for secure and efficient payment platforms is on the rise. The collaboration between iPiD and AEG comes at a pivotal moment, promising to address this demand.

The partnership expands Allied Engineering Group's (AEG) reach, allowing its users the additional benefit of payee verification on its proprietary remittance-as-a-service (RaaS) platform when sending real-time payments globally to India, USA, China, South Korea, Indonesia, Vietnam and Nepal among other countries. This includes the ability to instantly fetch and verify the authenticity of the payee name, bank account and mobile wallet details while adding a beneficiary for cross-border transactions. This collaboration marks a significant milestone in iPiD’s mission to enhance digital payment security and operational efficiency.

Quoting CEO, AEG, on this collaboration:” The partnership with iPid will open important doors to both companies to address the increasing demand of the banks to make cross-border payments seamless, more efficient and faster. We are very enthusiastic about the partnership and the solution, we will do our best make it a big success”.

Damien Dugauquier, Co-founder and Chief Executive Officer of iPiD, expressed, “We're excited to partner with AEG, together, we can leverage our respective strengths to help clients address the complex challenges they face in today's digital economy.”


About iPiD

iPiD is a fast-growing, venture-backed fintech start-up that was founded in late 2021 by a global team who have held senior roles at major payments and technology companies, including SWIFT and Thomson Reuters. In addition to our HQ in Singapore, our global team has representatives in India, Belgium, Malaysia, Netherlands, UAE, Spain, and Vietnam.

iPiD’s vision is to make cross-border payments easy, secure, and seamless. We achieve this by partnering with financial services providers (banks, payment systems, payment fintechs, wallets…) to deliver an addressing data platform that helps the payment industry to provide a more efficient and user-friendly payment journey. iPiD is built for all – we do not replace banks, payment fintechs, wallets or remittance companies; nor do we replace existing payment rails. Our Advisory Board includes senior figures from across the industry: Christian Sarafidis, Microsoft Chief Business Development Officer WWFSI; Kosta Peric, Deputy Director, Financial Services for the Poor, the Bill & Melinda Gates Foundation; and Nick Lewins, former banking Chief Technology Officer and now an advisor in data and AI, cloud technology and digital transformation.

For more information, contact [email protected]

About AEG

Allied Engineering Group (AEG) is one of the leading providers of IT solutions serving banks in the Middle East and Africa. AEG offers products and services that facilitate payment and money transfer, reconciliation, system integration, filtering and compliance, business continuity, information security, and reporting.

AEG was founded in January 1994 as a system solutions provider for the banking sector. In 2003, AEG has launched its SWIFT services Bureau. AEG stands today among the top SWIFT Service Bureaus worldwide with around 390 members benefiting of its services. In 2014, AEG Service Bureau was accredited to be fully compliant with operational requirements of the “Standard Operation Practice” level as defined in the “SWIFT Shared Infrastructure Program”. We serve the Middle East and Africa from our head office in Beirut-Lebanon and our branches across the region located in Egypt, Bahrain, Cyprus, Iraq, Algeria, UAE and KSA. Moreover, we have two operating DR sites to secure successful failovers and high availability.

For more information, contact [email protected]