With close to $14 billion in venture capital invested in a range of FinTech companies globally in 2015, and ~$19 billion in the first nine months of 2016, the industry is expected to blossom beyond expectation and have a transformative effect on traditional financial institutions. Over time, the race for...
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Singapore is one of the gems of the global financial services industry ecosystem with ~200 banks with total assets of $2 trillion having operational headquarters in Singapore. Global financial institutions like Mastercard, UBS, DBS Bank, OCBC, Wells Fargo and Citigroup are launching (or have already launched) their innovation labs and...
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"The interconnected digital world we live in means consumers are able to purchase nearly any product, however and wherever they want," writes Roger Niederer, Head of Merchant Services at SIX Payment Services. Retailers need to understand how their customers interact across all channels so as to be able to tailor...
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What do cowry shells, shekel, dinar, krugerrand and Apple Pay have in common? They have aspired or are aspiring to be the global commerce enabler of choice. Some of them have achieved significant notoriety and some of them have gone on to set the stage for the monetary system that...
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Singapore, 17 November 2016 - MAS Global FinTech Hackcelerator Demo Day The MAS Global FinTech Hackcelerator demo day which was held on November 15, 2016, saw 19 finalists using innovative technology solutions to solve problems submitted by the financial industry. The finalists presented a working demo of their solutions to...
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NEW YORK, NY – November 15, 2016 – Quovo, a leading provider of account aggregation and data analytics for finance, today announced the launch of its Account Authentication API. This RESTful API allows developers to instantly connect to financial accounts and verify key account data, helping to confirm account ownership,...
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by Ravi Menon, Managing Director, Monetary Authority of Singapore Remarks at Singapore FinTech Festival - FinTech Conference, Singapore Expo, 16 November 2016: Ladies and gentlemen, good morning and welcome to the inaugural Singapore FinTech Festival. We have more than 11,000 participants from more than 50 countries, attending one or more of the...
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Today’s sharing economy and its respective business models are disrupting traditional industries like financial services and manufacturing and of course, creating brand new categories. And similar to most industries, the vacation industry has certainly not been immune to change. This particular market has faced some unique challenges throughout its evolution...
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The rapid digitization of consumers and enterprises will increase the cost of data breaches to USD 2.1 trillion globally by 2019 from USD 500 billion in 2015 – affecting mainly large banks, retailers and federal agencies as per Forbes Inc. One of the recent cyberattacks that happened at one of...
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While accessible consumer credit options have been widely expanded with financial technology startups to the extent of not being a major problem, accessible business credit is still a tough question. According to the World Bank, 200 million businesses globally are unable to get the credit they need, both for working...
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As the father of Apple said, “You‘ve got to start with the customer experience and work back toward the technology – not the other way around.” The wisdom has been loyally contributing to the success of the iPhone maker and is probably one of the main paradigms of this year...
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Over 100 migrant workers transferred money instantly over blockchain to their homes in Myanmar in the last months. It marks a successful pilot test for Everex, a company aiming to give financial access to the world’s huge “Bottom of the Pyramid” (BOP) population. Overall, average transactions took less than a...
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