Following a two year stint at TNG Digital, Ignatius Ong will be resigning from his position as the Chief Executive Officer (CEO) effective 31st March 2022 due to personal reasons, according to a report by A+M.
Ignatius was previously appointed as the CEO in 2019 to replace Syahrunizam Samsudin who was also one of the founding members of TNG Digital.
Alan Ni who is currently the COO, Chief Product Officer and Financial Services Business Head will be taking over the role.
He had drastically improved TNG Digital’s growth since taking over the business operation role and had a hand in growing the e-wallet’s user base when he joined the company in 2018. Alan was also the driving force behind the “PayDirect” Toll solution.
Prior to that, Alan was a Senior Managing Director who was in charge of retail risk management for the CIMB group.
Representatives from TNG have confirmed that the change in leadership will indeed be taking place.
They added that a smooth transition is expected without any drastic changes to any TNG Digital’s strategy and business plans.
TNG Digital a Malaysian e-wallet formed as a result of a joint-venture between Touch ‘n Go and Ant Financial Group.
AIA Malaysia announced in July last year that it will become the fourth shareholder by taking a minor stake in TNG Digital in a move that values the company at about US$700 million or approximately RM3 billion.