Eftsure has launched in Singapore, giving finance teams access to continuous payment verification across their domestic and international vendor networks.
As one of the world's leading financial and business hubs, Singapore plays a central role in cross-border commerce, making strong payment controls increasingly important as AI-driven fraud continues to evolve. Many businesses run high-volume vendor payments through centralised finance teams here, creating a large concentration of cross-border payment flows that bring scale, complexity, and varied governance obligations.
Strengthening payment controls as fraud evolves
The stakes are rising as AI makes impersonation cheaper and more convincing. Scams and cybercrime cost Singapore S$913.1 million in reported losses in 2025, according to the Singapore Police Force's Annual Scam and Cybercrime Brief 2025, with business email compromise among the top five scam types by dollars lost.
However, impersonation scams were equally damaging, according to authorities. As one of the only categories in which reports increased during 2025, losses related to impersonation scams totaled in the hundreds of millions.
While the rise of AI-driven impersonation is a concern, Singapore's Shared Responsibility Framework is designed to protect individual consumers from these sorts of scams. For businesses, however, strong internal controls over payments remain the primary line of defence.
Unfortunately, many organisations still rely on manual checks such as registry lookups, callbacks, and bank letters. But Karthik Manimozhi, Eftsure's Global President, emphasises that AI 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."
Relying on more manual checking is not the answer, he explains.
"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 continuous verification
Rather than one-off checks at onboarding, we give finance teams a continuously verified source of payment data. We confirm payment details before money moves and monitor vendor data for changes over time, combining business identity checks, anomaly detection, and expert analyst review.
The same verification applies across every place money leaves the business, from procure-to-pay and payroll to payment flows such as insurance claims, helping funds reach the right payee or beneficiary.
The value goes beyond fraud.
"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, which means embedded trust becomes savings the business can measure."
Consistent verification across international vendor networks
Our verification infrastructure spans more than 190 countries and territories, covering 85% of the world's banked population and supporting local business and payment conventions in each market.
The global verification capability that multinational organisations already rely on as their finance control tower 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, our 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 global growth
We've built this verification network since launching in Australia in 2014, becoming the market leader across Australia and New Zealand before expanding into the United States. In 2025 we combined with France's Sis ID to extend verification coverage across Europe and international vendor networks, and we now operate with teams across Australia, the United States, and France. Singapore is the next step in that expansion.
Today we support more than 4,000 organisations and safeguard hundreds of billions of dollars in B2B payments each year.
"Finance leaders are expected to move faster, even as they tighten their governance and audit controls," says Jon Soldan, our 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."
Singapore finance leaders can request a demonstration to see how continuous verification can strengthen payment controls across local and international vendor networks.
