Therefore, the raison-d'être of robo advisers gets lost – namely the leveraging and the ensuing benefit of scale. He didn't fly out to attend the Singapore Fintech Festival (of which finews.asia is a media partner) in person. If banks however choose to open their business, they can retain client access, even if the best offering for a specific service no longer is its own one. In Switzerland, green fintech is a trendsetter and has become a founding principle for the financial market strategy. Singapore, 17 December 2020…. [Singapore FinTech Festival 2020 - 10 December 2020] Presenting AI DEMO DAY to you live in the AFTERNOON! 09:10 - 09:30 Talent Presentation. He believes that there is work to be done still to free the full potential of tokenization. On March 7, 2021, Swiss voters will decide on the legal framework for a state-approved electronic identity. Ravi Menon, MAS’ managing director, announced the 2021 go-live at the Singapore Fintech Festival. Singapore Fintech Festival program from Norway Welcome by Anita Nergaard, Norwegian Ambassador to Singapore 09:30 (CET): Digital wallets and payments by Berit Svendsen, EVP & Head of International Expansion at Vipps. The event will also run 24 hours and broadcast from 40 global locations to “help businesses kickstart conversations and set their roadmap for 2021.” We will be taking a break from the 24th December 2020 to the 3rd January 2021. Singapore Fintech Festival 2020. Twice a week e-mail alerts from finews.com. 1. To get clients to trust the robot advisory system, advisers have started offering personal consultancy services. Join our community, be part of SFA, and enjoy awesome benefits and great network insights! Robo advisory seems doomed in Switzerland. If you have any questions or queries, please email the Singapore Fintech Association at [email protected] Mr Adrian Fisher Chairman 2021 SFA Nominating Committee. Singapore FinTech Festival Organised by MAS in partnership with The Association of Banks in Singapore and in collaboration with SingEx Holdings, the Singapore FinTech Festival (SFF) is the world’s largest FinTech festival and global platform for the FinTech community to connect, collaborate, and co-create with one another. And the plan isn’t just exclusive to Singapore or Thailand. Hamers says time will tell how the new banks will manage to earn money. Neobanks may be digital and mobile, but their sole characteristic from a business point of view is growth. Hop on to get valuable insights from business leaders and hear from the exciting line up of talks and presentations from the innovative AI community. But that's hardly a business model to speak of. The fifth edition of the Singapore FinTech Festival (SFF) and first 5-day round-the-clock SFF and SWITCH attracted more than 60,000 participants from over 160 countries. The problem of how to scale the business remains though, Hamers says. UBS is moving toward open banking, as was shown by its announcement on Monday that it will cooperate with finance platform Financescout24. Only the approval of a signature will remain a state prerogative, while private firms can launch an e-ID. ... FinTech Awards 2020 (2021) Read More >> Call for Collaboration – FinTech Awards 2020 and FinTech-Do-Good. He used his time to present an overview of the big trends in fintech in the coming year. To begin with, just a small group of banks in both countries will participate in the go-live. He may have read up on the fine print of Swiss direct democracy because if the electronic identity fails, many a fintech trend will founder. Tokenization is a fintech trend with huge potential, Hamers said. If banks don't open their business to a third party, they risk disintermediation, the destruction of supply chains. Fintech News Singapore would like to take this opportunity to wish all our readers a Merry Christmas and a very Happy New Year. The e-identity is a hotly disputed political issue, and not a trend. This year’s FinTech Festival will shine a spotlight on: People will be at the heart of the festival, shaping our conference agenda and inspiring our community activities that drive talent development, reskilling and upskilling of the financial and tech workforce. The Monetary Authority of Singapore, Smart Nation and Singapore's Digital Government Group launched Singapore's Financial Data Exchange on Dec. 8. It would tend to take another two to three years before Switzerland will count on an E-ID. Ralph Hamers – the Mister Fintech among the banking CEOs – has been in charge of Switzerland's largest bank, UBS, for about a month. Singapore and Thailand to Enable Cross Border Payments Using Only Mobile Numbers in 2021. How Will the Financial Services Sector Respond in 2021 (Episode 1) Speaker: Shayne Elliott, Chief Executive Officer, ANZ SGT 07 Dec 20:10 - 20:50 | GMT 07 Dec 12:10 - 12:50 | PST 07 Dec 04:10 - 04:50 But over time, the regulators plan to onboard more banks and non-banking firms. But one day, investors will want to get a return on their investment. They only work in connection with personal advice from a bank in a kind-of hybrid model. Welcome to this unique and hybrid edition of the Singapore FinTech Festival. This is vital to helping us as a society get back on its feet in 2021 and beyond. The news was announced at the Singapore FinTech Festival 2020, by Heng Swee Keat, Deputy Prime Minister of Singapore, according to a … Bambu's exhibiting at Singapore Fintech Festival 2020. The most innovative FinTech e-gifting solution will receive special recognition at the Singapore FinTech Festival in November 2021. During the Singapore Fintech Festival 2020, Ravi Menon, Managing Director, Monetary Authority of Singapore (MAS) announced that the regulator has made significant headway in the linkage between Singapore’s and Thailand’s national payment systems; PayNow and PromptPay respectively. The most innovative fintech e-gifting solution will receive special recognition at the Singapore Fintech Festival in November 2021. He believes that efforts will be made to address the problem in 2021. To be true, neobanks have so far defined themselves by the number of clients won as well as the number of financing rounds completed. Hamers believes that robo advisers and algorithms have proven their ability to deliver good results. Free Headlines in your E-mail. The contentious issue is the separation of powers between state and economy. Open Banking: Perfecting a Symbiotic Existence? This could be as investors place faith in Singapore’s favourable regulatory and business environment and its good track record of mitigating the impact of crises such as the COVID-19 pandemic. UBS CEO Hamers pronounced himself a great supporter of tokenization and digitization of assets. And the banks get access to technology and digital services they couldn't develop themselves. Singapore FinTech Festival | 6,715 followers on LinkedIn. The Singapore Fintech Report 2021 revealed that blockchain dominated the fintech scene, Grab Financial and digital securities platform iSTOX secures millions during their funding rounds and more exciting updates in our monthly newsletter here http://bit.ly/3sMajdv The Singapore FinTech Festival kicked off on Dec 7. Neobanking: Source of a New Business Model? 07 December. 5. Singapore-based FinTech Grab is mulling a U.S. initial public offering of at least $2 billion in the wake of failed merger talks with Indonesian rival Gojek. Fintech podium at SIX (from left to right): Secretary of State Daniela Stoffel, Chairman of the Swiss Bankers Association, Herbert Scheidt, UBS CEO Ralph Hamers, Credit Suisse CEO Thomas Gottstein (live from Singapore), host Tanya Koenig. SFF x SWITCH, the Singapore Fintech Festival and Singapore Week of Innovation and Technology will be back on December 7-11 in a new hybrid format, the organizers said in a media briefing on Thursday. Investor interest in Singapore-based fintech firms also remained strong, with these firms continuing to attract the highest funding amount (42 per cent) in the region. This year, the Singapore FinTech Festival (SFF) will proudly celebrate its 5th year anniversary. Belief in the energy of youth and their passion for change. Since its inception, Singapore FinTech Festival (SFF) has been championing challenging topics that the financial services industry faces, from financial inclusion to sustainability, while the Singapore Week of Innovation and TeCHnology (SWITCH) has been bringing together conversations on innovation and its impact on society. SFF x SWITCH 2020 Draws 3.5 Million Views Over 5 days; Event to Return in 2021, 8-12 November. The digital exchange SDX aims to become the first regulated exchange for tokens and digital assets. It is the key to success behind any fintech trend, he said in Zurich. Event Dec 07, 2020-Dec 11, 2020 ONLINE. Since its inception, SFF has championed the challenging topics that our industry faces, from financial inclusion to green technologies and sustainability, and this year SFF will celebrate our raison d’etre – People and Talent. UBS Chief Executive stayed in Switzerland, but he can be trusted to know where things are heading. Green fintech – a no-brainer according to Hamers: fintech and sustainable investing are trends and combining the two is simply perfect. ... us for an interactive session where our panel of esteemed speakers share their views on “Lessons learnt from 2020 and 2021 banking trends to watch”. UBS Chief Executive stayed in Switzerland, but he can be trusted to know where things are heading. THEMES. And we're giving exclusive sneak peeks at something special we've been building. People and Talent will be critical to addressing five global challenges. Reflections from Space With Astronaut Dan Tani. Belief in the spirit of innovation and the power of imagination. Singapore FinTech Association's success could only have happened with the help of our members community. Hamers understands the issue of data protection and demanded an international framework agreement on the protection of personal data when still at ING. The world’s largest FinTech Festival returns for its fifth edition on 7-11 December 2020! The Singapore Fintech Festival is currently discussing the hot new trends for the fintech business in 2021. And, it is no surprise that in just its third year, this Festival is already the world’s largest. One great example of what green fintech is able to is the application provided by Yova, where clients can engage in impact investing. The focus on Day One was on digital transformation and the economy amid COVID-19. Now together, SFF x SWITCH will celebrate our raison d’etre – People. He may have been obliged to say so given that the event was hosted by SIX CEO Jos Dijsselhof and Chairman Thomas Wellauer at the Convention Point. As a CEO of a traditional bank, Hamers maintains the view that neobanks such as Revolut, Monzo, or N26 have no business model to speak of. Open banking is creating a win-win situation, says Hamers: fintech that lacks the resources to build their own customer base, receive access to an established market. But he equally firm in his belief that no digital economy can survive without an e-identity. These will be addressed at the FinTech Festival through a dedicated Summit on each of the five days: the pioneers who have blazed new trails and made a difference; the rising tech stars with the potential to shape the post-COVID financial sector; and. Singapore and Thailand to Enable Cross Border Payments Using Only Mobile Numbers in 2021 by Fintechnews Singapore December 9, 2020 During the Singapore Fintech Festival 2020, Ravi Menon, Managing Director, Monetary Authority of Singapore (MAS) announced that the regulator has made significant headway in the linkage between Singapore’s and Thailand’s national payment … Live 24 hours a day for 5 days and in 40+ FinTech hubs around the world. Since its inception, SFF has championed the challenging topics that our industry faces, from financial inclusion to green technologies and sustainability, and this year SFF will celebrate our raison d’etre – People and Talent. The Singapore Fintech Festival is currently discussing the hot new trends for the fintech business in 2021. The biggest FinTech event in the world hosts executives and thinkers from financial institutions, fintechs, venture capital firms, central banks and regulators and academia. Zurich-based Globalance Bank helps clients understand the ins and outs of green investing by displaying the emissions and energy use of a portfolio. Ralph Hamers – the Mister Fintech among the banking CEOs – has been in charge of Switzerland's largest bank, UBS, for about a month. Forgotten Passwords: $140 Billion Bitcoin Write-Off? Belief in making the world a better place. 12 talking about this. 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