Singapore Payments Network appoints Derek Chan as its first CEO and establishes an 11-member board

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Singapore Payments Network (SPaN) has appointed Derek Chan as its first CEO and established an 11-member board chaired by Jacqueline Loh, Deputy Managing Director of the Monetary Authority of Singapore (MAS). Established by MAS and the Association of Banks in Singapore (ABS), SPaN will begin operations in early 2027. It will be responsible for managing and governing Singapore’s national payment schemes, and plans to first facilitate their smooth transition from their existing operators.