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Singapore FinTech Festival attracted a record 45,000 participants from 130 countries

May 21, 2018

Singapore, 19 November 2018… The third edition of the Singapore FinTech Festival wrapped up its week-long event last Friday, which drew close to 45,000 participants from almost 130 countries, ranging from Afghanistan to Zambia. The Festival continues to be the biggest FinTech event in the world and provides a global platform for the FinTech community to connect, collaborate and co-create. The Festival also featured more than 250 speakers, almost 500 exhibitors – 60 percent of which were foreign, and 16 international pavilions. [1]

The Singapore FinTech Festival will return next year from 11 to 15 November 2019 along with Prudential, who has committed to be a Grand Sponsor of the Festival till 2022. Many other sponsors and exhibitors have also expressed strong interest to return in the 2019 Festival.

Festival Highlights

The three-day FinTech Conference (12-14 November) was graced by international and local dignitaries, including Narendra Modi, Prime Minister of India, Christine Lagarde, Managing Director, International Monetary Fund, and Ong Ye Kung, Minister for Education of Singapore and Board Member of the Monetary Authority of Singapore (MAS). Justin Trudeau, Prime Minister of Canada, [2]. Heng Swee Keat, Minister for Finance of Singapore, Patrick Njoroge, Governor of Central Bank of Kenya, and Sonexay Sithphaxay, Governor of Bank of the Lao PDR, were among other leaders who visited the Festival.

PM Modi, and Tharman Shanmugaratnam, Deputy Prime Minister of Singapore and Chairman of MAS, jointly launched the API Exchange (APIX), an online global FinTech marketplace and sandbox platform for financial institutions. In addition, seven agreements were inked between MAS and international financial authorities on the sidelines of the Festival. These include four key agreements between financial authorities and between financial institutions in China to enhance financial regulatory cooperation and financial markets connectivity, a Cooperation Agreement with authorities in Kazakhstan to enhance FinTech collaboration, a Memorandum of Understanding (MOU) to boost financial services in Latin America, Caribbean and ASEAN regions and an MOU to foster innovation and financial services between Singapore and Bahrain. This takes the total number of FinTech cooperation agreements that MAS has with its international counterparts to 29. Various agreements were also sealed by the private sector, including the formation of a partnership between NETS and ITMX, provider of Thailand’s interbank payment infrastructure as well as an MOU signed between AMTD Group and AwanTunai, Indonesian FinTech start-up.

Several deals were announced at the deal-making platform, MATCH (Meet ASEAN’s Talents and Champions), which was presented for the first time at the Festival and the Global Investor Summit. One of the MATCH participants, GTR Ventures, an investment and venture-building platform specialising in trade and supply chain, announced three new deals with Lucidity, iLoan and RM-Tech. Another MATCH participant, Vanda Global Capital, a venture capital fund management company with a Singapore and global focus, also announced that it had signed a collaboration agreement with Shenzhen Dayshine Fund Management and Raffles Capital to launch a ground-breaking, US$1.5 billion Asia agriculture technology fund, named the Asia AgriTech Fund.

The Artificial Intelligence (AI) in Finance Summit, a new element of the FinTech Conference, was well-attended and saw insightful sharing of views by influential technology speakers such as Cassie Kozyrkov from Google Inc., Jaan Tallinn from Metaplanet Holdings, Peter Schwartz from Salesforce, Chieko Asakawa from IBM, and Joanna Bryson from University of Bath. At the Festival, MAS also released a set of principles to promote Fairness, Ethics, Accountability and Transparency (FEAT) in the use of AI and data analytics in finance.

The Innovation Lab Crawl and Industry Events (15-16 November) wrapped up with close to 10,000 visitors across 32 innovation labs, 60 workshops and networking events held around Singapore.

About the Singapore FinTech Festival (www.fintechfestival.sg)

Singapore FinTech Festival (SFF) is the world’s largest FinTech event and global platform for the FinTech community, comprising start-ups and technopreneurs, policy makers, financial and technology industry leaders, investors including private equity players and venture capitalists, and academics. The 2018 Festival featured highlights such as the FinTech Conference with a new AI in Finance Summit and Global Investors’ Summit, the FinTech Awards, Global FinTech Hackcelerator, Innovation Lab Crawl and Industry Networking and Workshops. The Festival is organised by the Monetary Authority of Singapore (MAS) in partnership with The Association of Banks in Singapore and in collaboration with SingEx Holdings. Festival Grand Sponsors include AMTD, Deloitte, GIC, Google Cloud and Prudential. Find out more at https://fintechfestival.sg.

About the Monetary Authority of Singapore

The Monetary Authority of Singapore (MAS) is Singapore’s central bank and integrated financial regulator.  As central bank, MAS promotes sustained, non-inflationary economic growth through the conduct of monetary policy and close macroeconomic surveillance and analysis. It manages Singapore’s exchange rate, official foreign reserves, and liquidity in the banking sector. As an integrated financial supervisor, MAS fosters a sound financial services sector through its prudential oversight of all financial institutions in Singapore – banks, insurers, capital market intermediaries, financial advisors, and stock exchanges. It is also responsible for well-functioning financial markets, sound conduct, and investor education. MAS also works with the financial industry to promote Singapore as a dynamic international financial centre. It facilitates the development of infrastructure, adoption of technology, and upgrading of skills in the financial industry.

About The Association of Banks in Singapore

The Association of Banks in Singapore (ABS) plays an active role in promoting and representing the interests of the banking community in Singapore. In doing so, ABS works closely with the relevant government authorities towards the development of a sound financial system in Singapore. Since its establishment in 1973, ABS has promoted common understanding among its members and projected a unifying voice on banking issues. It has brought its members closer together through various guidelines and banking practices as well as the support of projects of mutual benefit to face the challenges of the financial and banking community in Singapore. Today, ABS has a membership of 158 local and foreign banks. More information on ABS is available on the website: www.abs.org.sg.

About SingEx Group

SingEx Group comprises four closely linked companies that collectively provide a comprehensive range of integrated solutions for venue management and consultancy, exhibition and conference concept development and organising services; and international trade event related ventures. The companies under the group are subsidiaries of SingEx Holdings which is wholly owned by Temasek Holdings, one of Singapore’s largest investment holding companies.

Its events arm, SingEx Exhibitions, owns, develops and manages a series of new-to-market trade exhibitions and conferences in Singapore and key emerging markets. The events span across various industries including urban solutions, logistics, information technology, healthcare and commodities. Among the more than 20 new-to-market events produced yearly are the Singapore FinTech Festival, the world’s largest of its kind, IoT series, Last Mile Fulfilment series and Tyrexpo series in India, South Africa, Indonesia and Singapore.

SingEx Venues specialises in the management of Meetings, Incentives, Conventions and Exhibitions (MICE) facilities and has been managing the Singapore EXPO Convention and Exhibition Centre since 1999, and its convention wing, MAX Atria, since 2012. The venues host more than 600 events and attract over six million visitors annually.

About SingEx Exhibitions

SingEx Exhibitions is a subsidiary of SingEx Holdings, and is wholly owned by Singapore’s investment company, Temasek Holdings. The company harnesses insights and its strategic networks to organise and manage a series of trade exhibitions and conferences in various industries including automotive, environment, e-commerce and logistics, technology, healthcare and lifestyle. These events aim to connect businesses in Asia and globally, and facilitate business matching with opportunities and knowledge sharing.

For media queries, please contact:

Bridgitte Lee
Assistant Director (Communications) Monetary Authority of Singapore Tel: +65 6229 9262 Email: Bridgitte_lee@mas.gov.sg
Casie Eng
Assistant Director (Communications) Monetary Authority of Singapore Tel: +65 6422 5428 Email: casie_eng@mas.gov.sg
Jacqueline Ong
Deputy Director (Communications) Monetary Authority of Singapore Tel: +65 6229 9159 Email: Jacqueline_ong@mas.gov.sg

[1] The 16 international pavilions represent Abu Dhabi, Canada, Hong Kong, India, Ireland, Israel, Japan, Kazakhstan, Korea, Latin America, New Zealand, Philippines, Poland, Switzerland, United Kingdom and United States.

[2]  PM Trudeau addressed the Canada FinTech Forum, a fringe event of the Singapore FinTech Festival.

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