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Singapore FinTech Consortium - Introduction to FinTech

In recent years FinTech, has grown tremendously and is making its presence felt across the globe. The Singapore FinTech Consortium presents our slide deck: Introduction to FinTech to give you a sneak preview of our research in the local & global landscape.

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Singapore FinTech Consortium - Introduction to FinTech

  1. 1. Introduction to FinTech In Singapore May 2015
  2. 2. 1 “FinTech is the delivery of innovative financial products and services through the application of technology, to make financial systems more efficient.” Defining FinTech
  3. 3. Global Views on FinTech “Tech companies all want to eat our lunch. Every single one of them is going to try” Jamie Dimon, CEO of J.P. Morgan “Banking is heading towards its Spotify moment “ Peter Sands, Group Chief Executive of Standard Chartered Bank “Fintech’s ability to improve or even disrupt the banking sector is impressive and will certainly impact the financial sector” D. Horn, Dr. P.C. Geerts, Dr. J. Coolen “Banks are the Kodaks of the 21st Century” Unnamed FinTech Startup, The Economist “Our credit assessment looks to the present and the future, not just the past” Mike Cagney, Founder of SoFi “The declining cost of information-gathering is pushing consumer credit the way corporate credit has gone over the past three decades” Hans Morris, Board Member of Lending Club 2
  4. 4. Global Views on FinTech “Within five years, half of today’s smartphone users will be using their phones and mobile wallets as their preferred method for payments” Peter Olynick, Carlisle & Gallagher Consulting Group “Fintech is changing the finance sector just like the Internet changed the written press and the music industries“ Philippe Gelis, CEO of Kantox “Banking is not being reinvented, but it is going digital” Deutsche Bank Research “If you want to come up with a new product in a bank, any one of 50 people internally can shoot it down. If you’re a startup, you can go visit 50 Centure Capitalists and you only need one of them to give a green light” Tonny Thierry Andersen, Head of Retail at Danske Bank “As we move further into digital experience, the next decade will be even more disruptive than the one we saw in the recent economic downturn. There will be blood” Bradley Leimer, Head of Innovation at Santander Bank “While 93% of mobile banking users check their balances on their mobile devices, only 44% use the device to make payments” CDW Financial Services 3
  5. 5. Global FinTech Landscape Retail Investments Consumer Banking Financial Research Global FinTech consists a wide array of Verticals… 4 Lending Personal Finance Payments Institutional InvestmentsRemittances Equity Financing Banking Infrastructure
  6. 6. 5 Singapore is Strategically Best Positioned… Key Foundations in Place •  Ranked 4th Global Financial center •  Established reputation of trust and quality for •  Private Banking •  Foreign Exchange •  Commodities Trading •  Investment Banking •  Asset management Global Financial Center •  Regional HQs for most of the largest software companies •  Highly developed technology infrastructure •  Pool of excellence: Education hub with recognized universities & business schools Technology Hub •  Finance and technology are of strategic importance for Singapore •  Significant support for innovation through multiple public & private initiatives •  Launchpad @ One-North Strategic Interest Regional impact and global reach … for Singapore to Become a Global Leader in FinTech
  7. 7. 6 Singapore Factsheet A vibrant city-state located in the heart of Asia, Singapore offers investors an unparalleled access to global markets and the emerging economies in the region. 
 With strong legal and financial systems backed by an efficient government, Singapore is a stable environment for business expansion and investments. 3rd Most Globalized Economy 4th Global Financial Centre Only Asian Country with Triple-A Rating Operational HQ > 200 Banks Over 700 Financial Institutions US$2 Trillion Asset Size 5.5% of Workforce in Financial Sector 12% of GDP from Financial Industry #1 For Ease of Doing Business Globally #1 Best Labor Force Globally #1 Largest FX Centre in Asia Pacific #1 Most Politically Stable Country in Asia #1 For Quality of Life in Asia #3 Wealthiest Nation Globally 153% Mobile Population Penetration Rate 187% Wireless Broadband Penetration Rate
  8. 8. 7 Financial Training / Games Finance Research/Analytics Lending Retail Banking/Investments Institutional Investments Singapore FinTech Landscape Personal Finance/WealthPayments / Remittances Banking Infrastructure
  9. 9. 8 Personal Banking – Unbundled Personal Banking Banking Services / Infrastructure Investments / Wealth Management Credit 
 or Loans Payments / Remittance / Forex Financial Planning & Advisory Brokerage Insurance Online Banking Managed
 Portfolio Crypto-currencies Personal Loans Mortgages / Home 
 Equity Loans Student Loans Credit Line Payments Checking Account Credit Card Forex Remittance Wire Transfers Trading Wealth Management
  10. 10. 9 Personal Banking – Unbundled Personal Banking Banking Services / Infrastructure Investments / Wealth Management Credit 
 or Loans Payments / Remittance / Forex
  11. 11. 10 Business Banking – Unbundled Credit Card Processing SME Payroll Management Payments Forex Wire Transfers Data / API Business Banking Banking Services / Infrastructure Payroll/ Accounting Services Credit 
 or Loans Payments / Forex Working Capital Lead-Generation Finance & 
 Borrowing Credit Line International Business Accounting 
 Services Trade Finance Online Banking
  12. 12. 11 Business Banking – Unbundled Business Banking Banking Services / Infrastructure Payroll/ Accounting Services Credit 
 or Loans Payments / Forex
  13. 13. Government Venture Capital (Series A & Above) Venture Capital (Early Stage) Coworking Space Accelerators Networking Events 12 Singapore Startup Ecosystem
  14. 14. Contact Singapore Fintech @ Tanjong Pagar 26 Duxton Road Singapore, 089490 Singapore Fintech @ One-north Ayer Rajah Blk 79 Singapore, 139995 Gerben Visser Co-Founder & Director Daniel Chia Co-Founder & Director Prakash Somosundram Co-Founder & Director Jose Camacho Co-Founder & Director Luke Cheang Bus Dev Intern Shana Lim Bus Dev Intern Jordon Yuen Bus Dev Intern Subbu Subramaniam CTO 13