MAS to hold Singapore FinTech Festival with focus on ASEAN
The Monetary Authority of Singapore (MAS) announced that the third edition of the Singapore FinTech Festival will be held from 12 to 16 November 2018 in Singapore. With Singapore’s Chairmanship of ASEAN in 2018, the Festival will highlight FinTech developments and opportunities in ASEAN.
The week-long Singapore FinTech Festival is organised by MAS in partnership with The Association of Banks in Singapore and in collaboration with SingEx Holdings, with strong support by the industry. It provides a platform for connection, collaboration and cocreation on FinTech in Singapore and beyond.
According to Mr Sopnendu Mohanty, MAS’ Chief FinTech Officer, MAS, the Singapore FinTech Festival has grown in scale and scope over the past two editions and has contributed to the growth of the FinTech ecosystem in Singapore and the region.
“We look forward to welcoming FinTech players and stakeholders from all over the world to Singapore, and to work with them to create new value and promote financial inclusion through innovation, digitalisation, and connectivity,” he said.
Last year, the Festival drew more than 30,000 participants and more than 5,000 companies from over 100 countries, comprising FinTech players, technopreneurs, policy makers, financial industry leaders, investors including private equity players and venture capitalists, and academics.
According to the press release, this year’s FinTech Festival will include the following:
FinTech Conference & Exhibition (12-14 November 2018)
The three-day programme will cover 9 broad topics – Future of Banking, InsurTech, Capital Markets, Infrastructure Financing, Blockchain and Distributed Ledger Technology, Payments, Cyber Security, RegTech, and Financial Inclusion. This year, early bird ticket holders will be given special access to distinguished speakers in special “behind the scenes” sessions.
The FinTech Exhibition will have an “ASEAN Zone” to showcase the FinTech Awards finalists and ASEAN PitchFest winners. The 2018 edition of the FinTech conference will see an expanded range of topics with more keynote sessions and discussions on current issues in FinTech.
ASEAN FinTech Showcaseto showcase innovative solutions from ASEAN countries. In support of Singapore’s chairmanship of ASEAN, delegates from ASEAN countries will enjoy special rates for tickets to the Festival.
Global FinTech Hackcelerator (12 November 2018)
From now to 15 June 2018, the event is calling for submissions for Fintech solutions in 4 areas: Financial Inclusion, InsurTech, RegTech/SupTech, and General. A panel of judges, with representation from the private and public sector, will evaluate the submissions based on the following criteria: relevance to problem statement, business potential, innovativeness of idea, company profile and ability to execute. During the 12-week programme, the 20 finalist teams will be matched with industry mentors and corporate clients to customise their market-ready solutions into contextualised prototypes ready for adoption. The finalist teams will also receive a cash stipend of S$20,000, mentorship and business guidance from the industry, development infrastructure and technology support, as well as industry and network connections.
Artificial Intelligence (AI) in Finance Summit (13-14 November 2018)
The Summit will explore emerging AI solutions in trading, investment management, customer service, and risk management. It will also include discussions on quantum computing as well as governance and ethics in the application of AI.
FinTech Investor Summit (14 November 2018)
The Summit will feature: (1) FinTech Deal Day to facilitate FinTech investment deals, supported by customised research reports on the participating FinTech companies, and (2) Meet ASEAN’s Talents and Champions (MATCH) to facilitate deal-making by showcasing next-generation ASEAN startups and enterprises across all sectors, and connecting them with potential investors.
FinTech Awards (14 November 2018)
The award categories have been revised to allow for more participation from ASEAN countries. A PitchFest component will be held across ASEAN countries, where promising FinTech companies will pitch their implemented solutions. Up to 5 winners from each country will get free tickets to the Singapore FinTech Festival.
The FinTech Awards, comprising the MAS FinTech Awards and ABS Global FinTech Award, recognises innovative financial technology solutions that have been implemented/deployed by FinTech companies, financial institutions, and technology companies.
To qualify, the projects must have already been implemented/deployed. A panel of judges representing a cross-section of experts from the private and public sector, such as venture capital, accelerators, consultancies, industry associations, and government, will evaluate entries on the following parameters: (1) impact which includes productivity, profitability, user experience, risk management, knowledge-transfer, and applicability beyond the financial sector, (2) practicality which includes ease of implementation, scalability, and cost-effectiveness, (3) interoperability, (4) uniqueness and creativity.
Examples include, but are not limited to APIs, big data, biometrics, blockchain, virtual reality, internet of things, machine learning, artificial intelligence, credit scoring, predictive analytics, quantum processing, risk profiling, and smart contracts.
Award recipients will each receive between S$50,000 and S$150,000. The total quantum for the MAS FinTech Awards is up to S$1.2 million.
Innovation Lab Crawl (15 -16 November 2018)
The island-wide event will be extended to 2 days to allow visitors to spend more time at the innovation labs across more than 20 financial institutions to discover the latest FinTech creations. It offers a good opportunity for participants to network with start-ups and key innovation executives
More information on the Festival can be found here.