With the spread of ever connected devices, FinTech has become a very hot topic in Singapore and all global financial centers. Both large financial institutions and startups are engaged in developing innovative technologies to provide new financial products and services, and to enhance the efficiency of financial markets.
Big finance, big interests
Thanks to the development of fast, secure and reliable Internet connection and the omnipresence of smartphones, tablets and computers, new applications of technology in the field of finance become increasingly successful in creating new markets and enhancing old ones.
These new financial technologies are set on a course to implement new business models and disrupt traditional ways of managing and moving money, both in the worlds of personal banking and business banking.
But there is an intense competition between financial institutions, and between them and startups to create the new applications that can make new markets or transform existing ones. This pushes the companies to develop a flurry of innovations in the sector, but it is hard to predict who will emerge on top and who will be the loser of this battle.
Introduction to FinTech in Singapore
FinTech in Singapore – summary
- Defining FinTech – slide 2
“FinTech is the delivery of innovative financial products and services through the application of technology, to make financial systems more efficient.”
- Global views on FinTech – slide 3
“Fintech’s ability to improve or even disrupt the banking sector is impressive and will certainly impact the financial sector” D. Horn, Dr. P.C. Geerts, Dr. J. Coolen
- Global FinTech landscape – slide 5
- Singapore is strategically best positioned – slide 6
- Global Financial Center
- Technology Hub
- Strategic Interest
For more information on Singapore’s place as a strategic financial center, check “Why Singapore will be the financial center of SE Asia“.
- Singapore factsheet – slide 7
- Singapore FinTech lanscape – slide 8
- Personal Banking – Unbundled – slide 9
- Business Banking – Unbundled – slide 11
- Singapore startup ecosystem – slide 13
For more information on the Singapore startup ecosystem, check: “Singapore’s tech startup ecosystem“.
- Contact – slide 14
Presentation from May 2015 by the Singapore FinTech Consortium