Singapore FinTech Festival Case Study
The second Singapore FinTech Festival took place from 13 to 17 November 2017, and was an even greater success than the inaugural edition in 2016 with twice the number of attendees and three times as many exhibitors.
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.