HSBC has appointed a new chief technology officer for its popular Hong Kong app, PayMe. Dmitry Avramenko has joined HSBC from Standard Chartered in Singapore, where he was head of cloud architecture and infrastructure for two and a half years.
Dmitry has stepped into one of the most high-profile and pressurised technology jobs at HSBC. The PayMe e-wallet, which allows consumers to transfer money to one another, was only launched in February 2017 but it already has 1.5m users from a total Hong Kong population of only 7.5m.
Ensuring that PayMe continues to succeed in the peer-to-peer market is not the only challenge facing Dmitry in his new role. Last month HSBC launched a beta trial of PayMe for Business, allowing 15 merchants in Hong Kong to accept consumer payments using the app. Dmitry will need to oversee a smooth wider rollout of the new product.
He will also likely be focusing on security issues, following a phishing attack in November when 20 PayMe client accounts were compromised by criminals and HSBC was forced to quickly issue a security update.
Dmitry will also need to retain the best technologists in his new team at HSBC. This might not be straightforward. Mobile payments and lending is a hot field for hiring across Asia as platforms developed by tech firms (Alipay, WeChat Pay and GrabPay, for example) take on those from traditional banks. In December, PayMe’s chief product officer, Adam D'Arcy (who describes himself on LinkedIn as the app’s “creator”), left to take on the same role at Mapan, a lending network owned by tech unicorn Go-Jek.
New HSBC recruit Dmitry is a veteran technologist who began his career as a software developer for Motorola in 1994, before leaving 18 months later for a brief stint at Goldman Sachs in New York. Dmitry worked for Donaldson, Lufkin & Jenrette (now part of Credit Suisse) for several years and moved to Asia in 2008 with Merrill Lynch to take up a Hong Kong-based VP role focused on equity derivatives. Prior to joining Stan Chart in 2016, Dmitry was a Singapore-based principal solutions architect for event broker Solace Systems.
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