Global FinTech Hackcelerator mid-programme checkpoint.
Image Source: Facebook / SG FinTech Festival

Organised by the Monetary Authority of Singapore (MAS) with the support of The Association of Banks in Singapore (ABS) and SingEx Holdings, with the 2017 edition attracted a total of 32,000 attendees from 109 countries, up from 13,000 from 60 countries the year before. There were also 300 exhibitors, an increase of 315 per cent over 2016.

A highlight of the event was the Innovation Lab Crawl – where participants visited 20 innovation labs to learn from the FinTech experts from companies such as Accenture, Allianz, and Visa, and to discuss how new technologies are disrupting the financial space.

Other exciting activities included the Global FinTech Hackcelerator programme which saw 20 of the most dynamic and innovative start-ups, selected from 580 entries across 40 countries, addressing 100 problems gathered from the financial industry. There was also a FinTech Award ceremony which recognised the most innovative solutions from start-ups, financial institutions and tech companies.

Keynote speakers at the event included Ravi Menon, managing director of MAS; Her Majesty Queen Maxima of the Netherlands; Arun Jaitley, Finance Minister and Minister of Corporate Affairs, India; and David Cruickshank, chairman of Deloitte.

The event attracted the who’s who of the global financial sector including luminaries such as Christine Lagarde, managing director of the International Monetary Fund; Jorg Gasser, Swiss State Secretary for Finance; Tharman Shanmugaratnam, Singapore’s deputy Prime Minister and chairman of the Monetary Authority of Singapore (MAS); and Dr Vivian Balakrishnan, Singapore’s Minister for Foreign Affairs.

Financial institutions, start-ups, and tech companies were well represented among the attendees. There were also investors, regulators, academics and students among the visitors, with the top five countries represented being China and Hong Kong, Malaysia, India, the United States and Thailand.

Sopnendu Mohanty, chief fintech officer, MAS.
Image Source: Facebook / SG FinTech Festival

Sopnendu Mohanty, chief fintech officer at MAS, said, “We are pleased that the Singapore FinTech Festival has grown to become the world’s largest FinTech festival. It is a synergistic platform for the global FinTech community to spark new ideas and gain valuable insights. There will be many opportunities for financial institutions and FinTech companies to come together and collaborate on value-adding partnerships.

“We are excited to build on the success of the inaugural festival last year, and continue our efforts to foster a thriving global FinTech ecosystem. It is a key thrust of our efforts to establish Singapore as a Smart Financial Centre and a transformational FinTech hub.”

Singapore FinTech Festival x SWITCH 2020, which will take place from 7 to 11 December, is projected to build on the impressive success of last year’s event. Visit the website now to register your interest in this year’s event.