Singapore's FinTech Industry Is Unstoppable

Singapore is one of the gateways of the Asian financial market with a rich FinTech ecosystem. Global financial services companies have their Asian satellites operating from Singapore. AmEx, Citibank, JP Morgan Chase, HSBC and numerous other international financial organizations operate in Singapore. For a better understanding of Singaporean FinTech industry, we have looked at some examples of FinTech startups, investors, accelerators and conferences taking place in Singapore.

Compared by the index for financial center rating, in which a multitude of factors are integrated, Singapore and Hong Kong represent the most attractive spots in the region to enter the financial industry. Important areas of competitiveness are, among others, business environment, human capital, taxation and infrastructure. As demonstrated by the chart, Singapore and Hong Kong are the leading financial centers in Asia-Pacific region.

Data source: Statista.com

Speaking of the financial industry, there are around 200 banks with total assets of $2 trillion with operational headquarters in Singapore. IT procurement budgets of those banks reached $485 billion last year, according to the Asian business magazine Nikkei Asian Review. With global trends towards tight collaboration among traditional financial institutions and FinTech startups, Singaporean financial services providers also made a step forward nurturing incubation and FinTech ecosystem development. Global banking giants are building an innovation conveyor to ensure a leading position as a global financial market. Some of the examples are UBS, DBS Bank and Citigroup, which launched their innovation labs in Singapore.

Earlier this year, UBS set up a technology innovation lab in Singapore to meet the changing demands of wealth management clients and leverage on the multibillion potential future of virtual advising. Called EVOLVE – UBS Centre for Design Thinking and Innovation in Singapore, the lab is the first of its kind for UBS in APAC. The center will be focused on creating new innovative and user-centric products. It is the latest step in UBS’s digital journey after establishing innovation ...

MOST POPULAR

To continue reading sign up for MEDICI Inner Circle

This content is available for members only. Subscribe now!

Questions?

Annual Subscription

12-month access to 10,000+ insights, research reports, a database of 13,000+ FinTech companies, and a live global community.

$26/mo

TRY FREE FOR 7 DAYS

SKIP TRIAL

instant access to reports and global community along with donation to COVID-19 fund.

Quarterly Subscription

12-month access to 10,000+ insights, research reports, a database of 13,000+ FinTech companies, and a live global community.

$49/mo

TRY FREE FOR 7 DAYS

SKIP TRIAL

instant access to reports and global community

--------------- Reasons to buy ---------------

Understand the “Why” Behind the “What”

MEDICI offers data-driven, original, unique, and forward-thinking content to understand the “why” behind the “what”

10,000+ insights, 100+ research reports, and 1,000+ videos based on data, collected and processed by top-in-class researchers with over seven years of experience in the financial service industry.

Actionable Insights

We do not stop at the data; we analyze it and extrapolate actionable insights that shape and forecast market trends. All of our pieces are neutral, authentic, and unique – this means that you can’t read them anywhere else!

Data Visualization

We do also care about design. It’s why our infographics are the most-used ones in company reports and the most shared ones on social media.

Growing Proprietary Database of 13,000+ FinTech Companies

We have one of the largest databases with more than 13,000 company profiles listed across 60+ verticals! The database contains primary data collected in two ways:

Through our Global Listening Engine – a proprietary algorithm able to extrapolate and collect data across numerous sources

Directly from FinTechs – thanks to the onboarding flow through which companies can list themselves on the most used database for venture capital in the industry

Join the Largest Global FinTech Community

You will be added to our private WhatsApp Channel with more than 200 FinTech leaders across the globe, where we engage in discussions around various financial services topics daily. After a few clicks, you’ll get to know the whole community, including the MEDICI team – you can ask questions, suggest topics, and get behind-the-scenes insights

Q&A

What is MEDICI Inner Circle™?

MEDICI Inner Circle™ is the membership you need to freely access all MEDICI content, which includes insights, research reports, videos, startup knowledgebase, and the members-only community for live engagement.

What topics do you cover?

We cover more than 60+ sub-segments in FinTech – but we do not stop there; we also cover topics beyond FinTech, such as InsurTech, RegTech, PropTech, WealthTech, BankTech, AgriTech, and the enabling technologies enabling innovation such as AI, Blockchain, etc.

What do I get if I buy the membership? Is there a difference between being a free subscriber and being a member?

By becoming a member, you will unlock all the content on our website. A free subscriber gets access to only 5% of what we publish on the web-site. Paid members also get preferred access to our live events, and exclusive access to the members-only community for live digital engagement.

Do you have a discounted plan for students?

Yes. Please write to us at innercircle@goMEDICI.com.

Do you have an enterprise plan for corporates or groups?

Yes. Please write to us at innercircle@goMEDICI.com.

Do you offer refunds?

We offer a 7-day free trial during which you can access all of our data, insights, and analyses. You can cancel the subscription any time before the end of the free trial period. However, we do not offer refunds.

--------------- OR ---------------

Unlock this article by signing up for MEDICI Inner Circle