The Capital Meets Policy Dialogue

The Capital Meets Policy DialogueTM

A Public-Private Strategic Dialogue
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By Invite Only

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Time

Tuesday, November 1 9AM-2PM

Venue

Sofitel Sentosa Resort, Singapore

“Where regulators, policy makers, and global investors converge to shape the future of financial technology.”

The rapid pace of technological innovation and adoption has resulted in increased regulatory considerations, which in turn has investors seeking answers. The Capital Meets Policy Dialogue 2022 was a timely first-of-its-kind call for policymakers to share their strategic perspectives on FinTech regulations, including sectors of interest and concern as well as their view on emerging risks. Conversely, the dialogue was an equal measure call for investors to share likely direction of capital, including sectoral investment outlook, opportunities, challenges, and risks. Above all, the dialogue was a call for both parties to share expectations more openly.

Programme

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9:00AM Registration Commences
9:30AM Welcome Address
Navin Suri, Advisor to the Board of Directors, Elevandi
9:40-10:10AM The Rising Strategic Importance of Capital Meeting Policy: Investor and Enterprise Perspective, Asia-Pacific T.V. Mohandas Pai
Chairman, Aarin Capital Partners;
Chairman, 3one4 Capital;
Former CFO, Infosys
10:15-10:45AM The Rising Strategic Importance of Capital Meeting Policy: Investor and Enterprise Perspective, US and Global Sheila Bair
Former Chair, US FDIC;
Senior Fellow, Centre for Financial Stability;
Senior Advisor and Founding Chair, Systemic Risk Council
10:50-11:35AM Panel Discussion: Capital Provider’s Perspective Pradyumna Agrawal, Managing Director, Investment (Blockchain), Temasek
Jonathan Larsen, Chief Innovation Officer of Ping An Group, Chairman & CEO of Ping An Global Voyager Fund
Jack Lee, Founding Managing Partner, HCM Capital
Tai Panich, CEO and Chief Investment Officer, SCB10x
Moderator: Sarah Hammer, Professor and Managing Director, The Wharton School and the University of Pennsylvania Law School
11:40-12:25PM Panel Discussion: Policymaker’s Perspective Timothy Adams, President & CEO Institute of International Finance
Soraya Hakuziyaremye, Deputy Governor National Bank of Rwanda
Mihály Patai, Deputy Governor, The Central Bank of Hungary
Chea Serey, Director General National Bank of Cambodia
Moderator: Jo Ann Barefoot, Co-founder & CEO Alliance for Innovative Regulation
12:30-12.45PM Closing Remarks Jorge Familiar, Vice President and Treasurer, World Bank
12:45 - 2:00PM Lunch and Networking

Programme

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9:00AM

Registration Commences

9:30AM

Welcome Address

Speaker: Navin Suri, Advisor to the Board of Directors, Elevandi

9:40-10:10AM

The Rising Strategic Importance of Capital Meeting Policy: Investor and Enterprise Perspective, Asia-Pacific

T.V. Mohandas Pai
Chairman, Aarin Capital Partners;
Chairman, 3one4 Capital;
Former CFO, Infosys

10:15-10:45AM

The Rising Strategic Importance of Capital Meeting Policy: Investor and Enterprise Perspective, US and Global

Sheila Bair
Former Chair, US FDIC;
Senior Fellow, Centre for Financial Stability;
Senior Advisor and Founding Chair, Systemic Risk Council

10:50-11:35AM

Panel Discussion: Capital Provider’s Perspective

Pradyumna Agrawal, Managing Director, Investment (Blockchain), Temasek
Jonathan Larsen, Chief Innovation Officer of Ping An Group, Chairman & CEO of Ping An Global Voyager Fund
Jack Lee, Founding Managing Partner, HCM Capital
Tai Panich, CEO and Chief Investment Officer, SCB10x
Moderator: Sarah Hammer, Professor and Managing Director, The Wharton School and the University of Pennsylvania Law School

11:40-12:25PM

Panel Discussion: Policymaker’s Perspective

Timothy Adams, President & CEO Institute of International Finance
Soraya Hakuziyaremye, Deputy Governor National Bank of Rwanda
Mihály Patai, Deputy Governor, The Central Bank of Hungary
Chea Serey, Director General National Bank of Cambodia
Moderator: Jo Ann Barefoot, Co-founder & CEO Alliance for Innovative Regulation

12:30-12.45PM

Closing Remarks

Jorge Familiar, Vice President and Treasurer, World Bank

12:45 - 2:00PM

Lunch and Networking

AGENDA

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Access the Capital Meets Policy session recordings and insights reports

Keynotes: The Rising Strategic Importance of Capital Meeting Policy

Investments in FinTech have raised U$1Tn since 2010 in over 35,000 deals. Investor capital hence has been a significant source of innovation, customer experience improvements, financial inclusion, cost reduction, and value creation. Plus, timely launches of regulatory sandboxes have played a consequential role in fuelling innovation.

Now, with boundaries between innovators, social networks, digital platforms, and finance blurring, these introduce vulnerabilities and financial stability challenges, leading to regulatory considerations and scrutiny.

Hence, an open and continuous dialogue between capital providers and policy makers is additionally needed to better align market outcomes with policy objectives.

How can that then be done better? How does an investor and business operator approach this? Importantly, what is the policy-maker’s perspective?

Panel Discussion: Capital Provider’s Perspective

In 2021, more than 20% of venture dollars went into FinTech start-ups globally. This year, market conditions are dramatically different in every sector, including FinTech – public and private valuations are down. In addition, there is regulatory scrutiny on fast growing FinTech sectors – whether in Web 3 or BNPL – which has impacted investment outcomes. Consequently, capital providers are deliberating each investment with more caution.

Are there lessons, good and otherwise, that investors in both private and public markets have now learned?

If harnessed better, can these lessons help minimise policy risk to capital, while continuing to fuel innovation, and ultimately driving more sustainable value creation?

Panel Discussion: Policymaker’s Perspective

FinTech innovation and adoption is moving at a dizzying pace.

Consequently, regulatory considerations range from minimising risky retail behaviour to financial market stability, to market abuse and money laundering.

How can market outcomes be better aligned with policy objectives?

How can policymakers better participate in driving innovation such that investors are able to deploy risk capital in a relatively more informed manner?

What role can a more active dialogue between investors and policymakers play?

And if so, how could it be modelled?

WHO ATTENDED THE DIALOGUE?

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Capital Providers

Policy Makers

THE STORY

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2015 – 2019 - Foundation Phase

Key innovation hubs got established firmly and globally – Singapore, New York, London, Berlin, and Hong Kong emerged as centres of choice. These centres attract innovators, talent, and capital, which helps create greater employment and economic growth.

Two key participants of the changing financials services ecosystem, namely Innovators and Investors, engaged actively through this phase, propelling innovation, challenging status quo, and winning early adopters.

2019 – 2021 - Growth Phase

Equity investment in FinTechs has raised a compelling $1Tn since 2010 across ~35,000 deals[1], with the majority raised in the past 5 years. Innovators were able to see their solutions mature as adoption continued to widen, helped in no small part by timely regulatory facilitation e.g., through launch of sandboxes, and by creating new-age challengers e.g., issuing of new digital bank licences.

However, not unexpectedly, this exponential growth and adoption of technological innovation, has also introduced new types of risks, both to end-consumers and only in small part, as yet, to the overall stability of the financial system.  This, alongside the urgent need to address critical risks like from climate, has caused regulatory challenges.

2022 – 2025 - Responsible Growth Phase
The next few years are set to be pivotal to our ability to survive, and thrive. Hence, it is now critical that an open, active and direct dialogue begins to take place between investors and policymakers, that channels the innovators’ focus and competencies in areas that matter most.

The Capital Meets Policy Dialogue will enable capital providers to understand and influence regulatory direction, sooner and better. Concurrently, regulators too will be able to understand and supervise new business models sooner. Ultimately, regulators are able to better answer – what, when and how to regulate so that innovation thrives, capital thrives and so does humanity.
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DBS Asia X (DAX)

Mon, 31 Oct 2022
& Tue, 1 Nov 2022
10:00 AM – 4:30 PM

DBS Asia X
1 Fusionopolis View
Sandcrawler, Level 7
Singapore 138577

Lab Crawl @ DBS Asia X: Into the DAXverse

The metaverse and related digital technologies have emerged as vital drivers of growth amid Singapore’s bid to stay ahead of the curve. These drivers will continue to play a key role in the new digital world – fuelling the demand for innovation within the digital sector to meet this growing need.

Into the DAXverse – an innovation platform where enthusiasts and innovators are free to explore, learn, share ideas, experiences, and get inspired. Through this hub of knowledge, DBS Asia X (DAX) advances itself as a robust community of learners, contributors, and leaders of Singapore’s technology pillar.

A major breakthrough in amplifying innovation was through the launch of DBS Asia X. The X in DAX stands for the unknown, and we want people to feel at home while exploring the unfamiliar here – in a safe space.

DAX converges innovation in DBS through this space by encouraging cross collaboration with start-ups and the broader FinTech community.

We reimagine, inspire, and create the future of innovation.