Singapore FinTech Festival 2017: Another Year of Celebrating FinTech

Singapore's FinTech is on the way to global leadership

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 the city. Global financial institutions like Mastercard, UBS, DBS Bank, OCBC, UOB, and Citigroup have already launched their innovation labs and accelerators in Singapore along with significant investments in the ecosystem.

Singapore has one of the most forward-thinking governing authorities in the financial services industry internationally. To support the development of a vibrant FinTech ecosystem (there are 400+ FinTech Startups incorporated in Singapore), MAS has taken steps to ensure Singapore’s leading position as a leading global FinTech hub: those include committing S$225 million under the Financial Sector Technology & Innovation (FSTI) scheme; the launch of the FinTech and Innovation Group (FTIG) and the FinTech Office; creation of a FinTech regulatory sandbox; a move towards an open-API architecture; the Singapore Payment Roadmap, and the opening of ...

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