Singapore FinTech Festival | |
---|---|
Genre | FinTech |
Frequency | Annual |
Venue | Singapore Expo |
Location(s) | Singapore |
Country | Singapore |
Inaugurated | 2016 |
Founders | Monetary Authority of Singapore |
Participants | from 140 countries (2019) |
Attendance | 60,000 (2019) |
Website | www.fintechfestival.sg |
Singapore FinTech Festival (SFF) is the largest FinTech festival in the world and a knowledge platform for the global FinTech community. [1] [2] [3] [4] [5]
SFF is organized annually by the Monetary Authority of Singapore, Elevandi and Constellar in collaboration with The Association of Banks in Singapore. [6] [7] [8]
Initially, SFF 2016 started with a number of features including the FinTech Awards, the Global FinTech Hackcelerator, and three FinTech conferences which focused a number of topics such as API, Big Data, Blockchain, Machine Learning, RegTech and Tech Risk. [9]
There were more than 13,000 international participants from 60 countries in 2016. [9] In 2017, more than 30,000 international participants from 109 countries attended the festival. [10] Nearly 40% of the participants were C-suite, senior management level decision makers and influencers. [10] In 2018, there were more than 45,000 international participants from 130 countries. [11]
In 2019, the number of international participants increased to 60,000 from 140 countries. [12]
Participants in 2019 include industry professionals, founders, investors, academics, and government agencies. [13] The event was attended by 100% of the 50 top banks in the world. [14] The Conference and Exhibition featured 569 speakers and close to 1,000 exhibiting companies from around the world, including 41 international pavilions. [13]
SFF and Singapore Week of Innovation and TeCHnology (SWITCH) had the collaboration first time in 2019 with a week long events and activities focusing FinTech and deep technology. [12]
There were a number of international dignitaries participated including Christine Lagarde (in her role as the Managing Director of the International Monetary Fund), Justin Trudeau, Prime Minister of Canada, Narendra Modi, Prime Minister of India, Queen Máxima of the Netherlands (in her capacity as the Secretary-General of the United Nations’s Special Advocate for Inclusive Finance Development), Arun Jaitley, former Indian Finance Minister and Minister of Corporate Affairs, Dr. Agustin Carstens, General Manager of Bank for International Settlements (BIS), Dr. Patrick Njoroge, Governor of the Central Bank of Kenya, and Lee Hsien Loong, Prime Minister of Singapore. [10] [15] [16]
The economy of Singapore is a highly developed mixed market economy with dirigiste characteristics. Singapore's economy has been consistently ranked as the most open in the world, the joint 4th-least corrupt, and the most pro-business. Singapore has low tax-rates and the second highest per-capita GDP in the world in terms of purchasing power parity (PPP). The Asia-Pacific Economic Cooperation (APEC) is headquartered in Singapore.
The Monetary Authority of Singapore or (MAS), is the central bank and financial regulatory authority of Singapore. It administers the various statutes pertaining to money, banking, insurance, securities and the financial sector in general, as well as currency issuance and manages the foreign-exchange reserves. It was established in 1971 to act as the banker to and as a financial agent of the Government of Singapore. The body is duly accountable to the Parliament of Singapore through the Minister-in-charge, who is also the Incumbent Chairman of the central bank.
The Singapore dollar is the official currency of the Republic of Singapore. It is divided into 100 cents. It is normally abbreviated with the dollar sign $, or S$ to distinguish it from other dollar-denominated currencies. The Monetary Authority of Singapore (MAS) issues the banknotes and coins of the Singapore dollar.
The G20 or Group of 20 is an intergovernmental forum comprising 19 sovereign countries, the European Union (EU), and the African Union (AU). It works to address major issues related to the global economy, such as international financial stability, climate change mitigation and sustainable development.
Tharman Shanmugaratnam, also known mononymously as Tharman, is a Singaporean politician and economist who has been serving as the ninth president of Singapore since 2023.
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Fintech, a clipped compound of "financial technology", refers to firms using new technology to compete with traditional financial methods in the delivery of financial services. The use of smartphones for mobile banking, investing, borrowing services, and cryptocurrency are examples of technologies designed to make financial services more accessible to the general public. Fintech companies consist of both startups and established financial institutions and technology companies trying to replace or enhance the usage of financial services provided by existing financial companies.
Unified Payments Interface, commonly referred to as UPI, is an Indian instant payment system as well as protocol developed by the National Payments Corporation of India (NPCI) in 2016. The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. It is used on mobile devices to instantly transfer funds between two bank accounts. The mobile number of the device is required to be registered with the bank. The UPI ID of the recipient can be used to transfer money. It runs as an open source application programming interface (API) on top of the Immediate Payment Service (IMPS), and is regulated by the Reserve Bank of India (RBI). Indian Banks started making their UPI-enabled apps available on Google Play on 25 August 2016.
Financial technology is an industry composed of companies that use technology to offer financial services. These companies operate in insurance, asset management and payment, and numerous other industries. FinTech has emerged as a relatively new industry in India in the past few years. The Indian market has witnessed massive investments in various sectors adopting FinTech, which has been driven partly by the robust and effective government reforms that are pushing the country towards a digital economy. It has also been aided by the growing internet and smartphone penetration, leading to the adoption of digital technologies and the rise of FinTech in the country
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Fintech Valley Vizag is an initiative of the Government of Andhra Pradesh to promote business infrastructure in the state, and attract investors and multinational corporations to set up offices. Fintech Valley was founded by N. Chandrababu Naidu then Chief Minister of the Andhra Pradesh state in December 2016 with the goal of enhancing Visakhapatnam City as a financial technology capital in Andhra Pradesh.
Nium is a Singapore-headquartered cross-border payments company. Initially founded by Prajit Nanu and Michael Bermingham, and launched as a consumer-remittance platform Instarem in 2014. In 2016, the company introduced its B2B payments platform and rebranded as Nium in 2019, subsequently elevating Pratik Gandhi to co-founder in 2021.
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The Mumbai Fintech Hub is an investment platform, which was started by the Government of Maharashtra in the Mumbai Metropolitan Region. It is an initiative by the Government of Maharashtra to promote the fintech ecosystem in the state of Maharashtra.
Douglas W. Arner is a Kerry Holdings Professor at the University of Hong Kong (HKU).
Helicap is a Singapore-based fintech and investment company. It specialises in the private credit market in Southeast Asia.
FinTech Association of Sri Lanka (FASL) is an independent, not-for-profit cross-industry organisation representing Sri Lankan and the global FinTech community to support the development, innovation and investment in the FinTech sector.
Kigali International Financial Centre (KIFC) is a financial centre that is intended to transform Rwanda into an international financial destination for investors seeking opportunities across the African continent.