Singapore’s Fin Tech journey has been a story of relentless pursuit of excellence to build a global financial service hub with limited means and lots of aspirations. The slogan of ‘Dream big. Start small. Move fast’ has rallied regulators, startups, investors, corporates and everyone else to achieve a common goal.
One of the critical superpowers of Singapore is a national character built on survival instinct and a distinctive obsession with being successful. Singaporeans by nature are kiasu (a Hokkien word which can be loosely translated to fear of missing out), and they wear it as a badge of honour. Being kiasu drives Singaporeans to be constantly paranoid, doing everything they can to achieve success. It creates a certain fanaticism about meritocracy and instils a belief that one can never be complacent.
In a regulated industry, our fear is our biggest strength, pushing us to comply with a wide range of ever-evolving regulations. The durable social fabric supports an adherence to order and authority. It proves to be a significant asset when it comes to developing and supporting a heavily regulated industry like financial services.
Singapore attracts people across the region to build their ventures in the domains of finance and technology. This book traces Singapore’s journey from 2015 till today starting with establishment of regional hubs and globalisation of Fin Tech innovation. The key principles which established Singapore as a Fin Tech Nation have been an obsession with excellence referred to as RFFL (Right First, Fast Later), a unique model of economic and legal policies known as Singanomics and lastly, an organised and controlled model of a new idea development termed Garden Innovation.
Contents:
- Acknowledgements
- Foreword
- Preface
- About the Authors
- An Ecosystem Playbook: Engage, Experiment and Execute
- Building It Right, For Good
- Scaling Innovation — Block by Block
- Dancing with the Phoenix
- Democratising Access to Build
- Sustaining Network Effects
- Fuelling Innovation — Venture Capital
- Building Launchpads for the Future
- Talent — Only Real Moat
- Morphing Digital Banking
- Insur Tech — Rising Aspirations
- Strengthening Capital Markets
- New Frontier
- Glossary of Terms
- Index
Readership: Professionals and undergraduate students in the field of financial technology, data science, finance, financial innovation, statistics, and technology.
Key Features:
- Based on 65 interviews with Fin Tech founders, movers and shakers, bringing together their stories and journeys in the Fin Tech ecosystem including access to capital, customers, talent, and policy initiatives which have made them and Singapore successful
- Contribution of Foreword by Neil Parekh, Nominated Member of Parliament, Singapore
- Contribution of a special chapter by Sopnendu Mohanty, Chief Fin Tech Officer of the Monetary Authority of Singapore, which presents a perspective of a regulator
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