Eftsure has launched in Singapore, extending our payment verification infrastructure into one of Asia's leading financial and business hubs. The expansion strengthens payment verification across Asia-Pacific and continues the international growth of one of Australia's fastest-growing fintech companies.
For Australian and New Zealand finance teams, the benefit extends beyond Singapore itself. Many organisations manage high-volume vendor payments across the region from centralised finance teams, with Singapore acting as a major hub for trade and cross-border commerce.
Extending verification into this market gives finance leaders more consistent control over payments, wherever their vendors are based.
Strengthening payment controls as fraud evolves
The expansion comes as payment fraud continues to hit businesses on both sides of the Tasman. In Australia, payment redirection scams caused A$166.8 million in reported losses in 2025, a 9.3% increase on the previous year and the second-largest scam category, according to the ACCC's Targeting Scams report. In New Zealand, the National Cyber Security Centre reported an unusually high NZ$12.4 million in direct financial losses in the third quarter of 2025 alone, driven largely by business email compromise and fraudulent payment changes.
Business email compromise remains a persistent threat as artificial intelligence makes impersonation cheaper, faster, and more convincing. Globally, companies lost an average of 7.7% of top-line revenue to fraud, according to a TransUnion report.
Karthik Manimozhi, Eftsure's Global President, Growth and Markets, says artificial intelligence has fundamentally changed the economics of payment fraud.
"AI has made fraud cheap to produce and truth expensive to verify. CFOs are still trying to keep control of payments while contending with synthetic instructions, human error and data scattered across disconnected systems. In a financial hub like Singapore, that pressure compounds with every cross-border transaction."
The problem may be even more acute in Singapore, the market Eftsure is now entering. The Singapore Police Force reported that S$35.3 million had been lost to BEC attacks in 2025, but impersonation fraud is even more dominant. As one of the only categories in which reports increased during 2025, losses related to impersonation scams totalled in the hundreds of millions.
Unlike consumers, corporates in Singapore have very little regulatory safety net: the local Shared Responsibility Framework explicitly excludes them, meaning companies must build their own internal controls.
Relying on more manual checking is not the answer.
"Manual checks and callbacks were designed for a world where deception took effort and cost money," Manimozhi says. "Trust now has to sit inside the infrastructure itself, validating payment data before money moves, and that is what we provide."
The role of multi-layered, continuous verification
Rather than relying on one-off checks during vendor onboarding, Eftsure gives finance teams access to a continuously verified source of payment data.
We confirm payment details before funds move and monitor vendor data for changes over time. This process combines business verification, anomaly detection, and expert analyst review.
The same verification can be applied wherever money leaves the business, including procure-to-pay, payroll, and payment workflows such as insurance claims. This helps organisations confirm that funds are reaching the intended vendor, employee, payee, or beneficiary.
The operational value also extends beyond fraud prevention.
"This is a broader operational challenge than fraud risk alone," Manimozhi says. "Verifying the payee, the amount and the timing on every payment also catches the errors and duplicate payments that quietly drain cash and margin. That means embedded trust becomes savings the business can measure."
Consistent verification across international vendor networks
Eftsure's verification infrastructure spans more than 200 countries and territories, covering 85% of the world's banked population and supporting local business and payment conventions in each market.
The global capability multinational organisations already rely on now extends across their vendor networks in Singapore.
"Many organisations already operate across vendors in multiple countries, but their verification processes are often fragmented and heavily manual," says Andy Thiss, Eftsure's Senior Vice President and General Manager. "Our launch in Singapore gives finance teams access to the same global payment verification network trusted by thousands of organisations worldwide."
Building on a decade of international growth
The move into Singapore builds on more than a decade of growth. Founded in Sydney in 2014, Eftsure became a market leader across Australia and New Zealand before expanding into other international markets.
Eftsure has been named to the Australian Financial Review Fast 100 for three consecutive years, ranking 43rd among Australia's fastest-growing companies in 2025. The company acquired France's Sis ID in 2025 and subsequently launched a global enterprise offering for organisations operating across Europe, the United States, and Asia-Pacific.
Today, Eftsure supports more than 4,000 organisations and safeguards more than A$288 billion in business-to-business payments each year.
"Finance leaders are expected to move faster, even as they tighten their governance and audit controls," says Jon Soldan, Eftsure's Chief Executive Officer. "That depends on confidence in the data behind every payment. Eftsure gives organisations a way to continuously monitor payments at scale, helping reduce payment risk while strengthening the controls that support finance, audit and the wider business."
Australian finance leaders can request an Eftsure demonstration to learn how continuous verification can strengthen payment controls across local and international vendor networks.
