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Singapore FinTech Festival: five things you should know

The third edition of the Singapore FinTech Festival kicked off this week with several new initiatives announced

The third edition of the Singapore FinTech Festival kicked off this week with over 250 speakers, 450 exhibitors, 16 international pavilions and close to 30,000 participants.

Alongside the conference - focused on artificial intelligence and data themes powering the financial services and the digital economy - several new initiatives were announced.

The next five slides feature some of the key highlights from this week.  

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The third edition of the Singapore FinTech Festival kicked off this week with over 250 speakers, 450 exhibitors, 16 international pavilions and close to 30,000 participants.

Alongside the conference - focused on artificial intelligence and data themes powering the financial services and the digital economy - several new initiatives were announced.

The next five slides feature some of the key highlights from this week.  

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Please sign in or register to comment. It is free to register and only takes a minute or two.

1. Deutsche Bank launches Singapore lab

Deutsche Bank launched its first Asia Pacific Innovation Lab in Singapore, which will work closely with its wealth management business, as well as support the corporate and investment banking unit in the region.

The key objective for the lab is to find start-up opportunities across Asia Pacific, through Singapore, to scale globally across the bank’s platform.

René Keller, Deutsche’s chief data officer and group head of innovation said: 'We aim to be the first place start-ups want to do business. 

'By connecting with start-ups, we enable internal teams to adopt solutions that enhance, improve and reimagine the way we serve clients. For start-ups, we provide client access, industry expertise and ready-made infrastructure.'

 

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2. China, Singapore launch bond index

Singapore Exchange (SGX), the China Foreign Exchange Trade System (CFETS) and the Bank of China (BOC) have agreed to jointly launch the CFETS-BOC Traded Bond Indices on SGX.

The Bond Indices, designed by CFETS and BOC, track the movements of the Chinese bond market and can be used by investors to benchmark their Chinese bond portfolio performance.

SGX will be the first exchange to distribute the CFETS-BOC Traded Bond Indices outside of China.

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3. Australian fintechs get new lab

Westpac Banking has opened an innovation hub in Singapore to springboard Australian fintechs into the Asia Pacific region.

The platform will bring together the bank’s capabilities and fintech talent to drive expertise in the areas of regulation technology, data analytics, artificial intelligence and payments.

‘We’re seeing an exciting dynamic where more Australian fintechs are looking for opportunities to enter or expand in Asia,’ said Michael Correa, Westpac’s Asia Pacific general manager.

‘As Australia’s first bank, this goes to the heart of supporting Australian businesses to succeed, as well as advance the Australia-Asia economic corridor,’ he added.

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4. MAS, PBC, CSRC join forces 

The Monetary Authority of Singapore (MAS) has partnered with the People’s Bank of China (PBC) and the China Securities Regulatory Commission (CSRC).

The agreement will pave the way for joint innovation projects in the application of key technologies as well as joint research in technology, MAS said.

In addition, the deal will provide for regulatory coordination with regards to the expansion of fintech companies into each other’s markets.

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5. MAS, CSRC ink deal 

The Monetary Authority of Singapore (MAS) has partnered with the China Securities Regulatory Commission (CSRC) to track developments in the derivatives space.

The deal, MAS said, will enhance information sharing and cross-border supervision of futures exchanges and intermediaries that offer cross-border services to each other’s market participants.

MAS and CSRC will also coordinate with each other on the listing and trading of exchange-traded derivatives products with nexus to each other’s capital markets.

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