Singapore FinTech Festival

Singapore FinTech Festival(SFF) is the largest FinTech festival in the world and a knowledge platform for the global FinTech community.[1][2][3][4][5][6][7][8][9]

Singapore FinTech Festival
GenreFinTech
FrequencyAnnual
VenueSingapore Expo
Location(s)Singapore
CountrySingapore
Inaugurated2016
FoundersMonetary Authority of Singapore
Participantsfrom 140 countries (2019)
Attendance60,000 (2019)
Websitewww.sffxswitch.com

Background

SFF is organized annually by the Monetary Authority of Singapore in partnership with The Association of Banks in Singapore and in collaboration with SingEx Holdings.[1]

SFF is a testament to Singapore’s position as a global FinTech hub.[10][11]

Initial SFF 2016 had started with a number of features including the FinTech Awards, the Global FinTech Hackcelerator and three FinTech conferences which focused a number of topics such as API, Big Data, Blockchain, Machine Learning, RegTech and Tech Risk.[12]

Lee Hsien Loong, Prime Minister of Singapore visiting SFF exhibition pavilion with Ravi Menon, Managing Director, Monetary Authority of Singapore in 2019.

There were a number of international dignitaries participated including Christine Lagarde(in her role as the Managing Director of the International Monetary Fund), Justin Trudeau, Prime Minister of Canada, Narendra Modi, Prime Minister of India, Queen Máxima of the Netherlands (in her capacity as the Secretary-General of the United Nations’s Special Advocate for Inclusive Finance Development) and Arun Jaitley, India’s Finance Minister and Minister of Corporate Affairs. Dr. Agustin Carstens, General Manager of Bank for International Settlements(BIS), Dr. Patrick Njoroge, Governor of the Central Bank of Kenya, and Lee Hsien Loong, Prime Minister of Singapore.[13][14][15]

2016

There were more than 13, 000 international participants from 60 countries in 2016.[12]

2017

There were more than 30,000 international participants from 109 countries in 2017.[13]

Nearly 40% of the participants were C-suite, senior management level decision makers and influencers.[13]

There were 300 exhibiting companies and more than 100 startups with 8 country pavilions - France, India, Japan, Korea, Latin America, Poland, Switzerland and USA.[13]

2018

There were more than 45,000 international participants from 130 countries in 2018.[16]

Justin Trudeau, Prime Minister of Canada addressing at Singapore FinTech Festival in 2018

2019

There were more than 60,000 international participants from 140 countries in 2019.[17]

SFF × SWITCH

SFF and Singapore Week of Innovation and TeCHnology (SWITCH) had the collaboration first time in 2019 with a week long events and activities focusing FinTech and deep technology.[17]

Participants in 2019 include industry professionals, founders, investors, academics, and government agencies.[18]The event was attended by 100% of the 50 top banks in the world.[19]The Conference and Exhibition featured 569 speakers and close to 1,000 exhibiting companies from around the world, including 41 international pavilions.[18]

In 2019, the 2-day Innovation Lab Crawl, one of the key events within the week-long festival, featured more than 40 FinTech innovation labs in Singapore, many of which are set up by global financial institutions.[20]

Singapore also recorded an all-time high FinTech investments of S$1 Billion in 2019,[21]and a 19% Y-o-Y increase in FinTech investments in the first half of 2020, amidst the Covid pandemic.[22]This achievement is due to SFF investor engagement events and initiatives such as Deal Fridays,[23][24]FinTech Research Platform,[25]and Green Shoot Series.[26]

Commentary by notable personalities
APIX (Application Programming Interface Exchange) a global Fintech Platform is officially launched by Narendra Modi, Prime Minister of India and Tharman Shanmugaratnam, Deputy Prime Minister of Singapore at the Singapore FinTech Festival on November 14, 2018, in the presence of (From Left) Vivek Pathak, Regional Director - East Asia and Pacific, IFC (World Bank Group), Paul CG Gwee, Secretary-General of ASEAN Bankers Association (ABA) and (Far Right) Sopnendu Mohanty, Chief Fintech Officer, Monetary Authority of Singapore (MAS).
Christine Lagarde, Managing Director of the International Monetary Fund addressing at the Singapore FinTech Festival in 2018.

Narendra Modi, Prime Minister of India (2018)
”The Singapore Fintech Festival is a celebration of belief. Belief in the spirit of innovation and the power of imagination. Belief in the energy of youth and their passion for change. Belief in making the world a better place. And, it is no surprise that in just its third year, this Festival is already the world’s largest.”[27]
  • Modi said at the conclusion of his keynote address,
"At no time in history were we blessed with so many possibilities: To make opportunities and prosperity a reality in a lifetime for billions, To make the world more humane and equal between rich and poor, between cities and villages, and between hopes and achievements,".[33]

Christine Lagarde, Managing Director, IMF (2018)
”Singapore knows this. You know this. It is the true spirit of the Fintech Festival—opening doors to new digital futures; hoisting sails to the winds of change.”[36]
  • Lagarde said at the conclusion of her speech,
“Technology will change, and so must we. Lest we remain the last leaf on a dead branch, the others having decided to fly with the wind.”[50]

References
  1. "Singapore FinTech Festival". Monetary Authority of Singapore. Retrieved July 28, 2020.
  2. "The underdogs of Southeast Asia's fintech scene: Early Stage". KrASIA. November 17, 2019. Retrieved July 29, 2020.
  3. "Singapore FinTech Festival 2019" (PDF). Deloitte. Retrieved July 29, 2020.
  4. "First combined fintech festival, SWITCH kicks off today". Business Times (Singapore). November 11, 2019. Retrieved July 29, 2020.
  5. "Singapore Fintech Festival Reports Over 60,000 Participants this Year". Crowdfund Insider. November 19, 2019. Retrieved July 29, 2020.
  6. "6 local startups to present at Singapore Fintech Festival". The Express Tribune. November 7, 2019. Retrieved July 29, 2020.
  7. "BHIM's QR code-based payments demonstrated at Singapore FinTech Festival". Business Line. November 13, 2019. Retrieved July 29, 2020.
  8. "Money FM Podcast: MAS CFO shares takeaways from Singapore Fintech Festival 2019". The Straits Times. November 18, 2019. Retrieved July 29, 2020.
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  10. "Singapore FinTech Festival" (PDF). The Edge. November 11, 2019. Retrieved August 3, 2020.
  11. "Why Singapore is a Global Fintech Hub". Singapore Tourism Board. Retrieved August 3, 2020.
  12. "Singapore Fintech Festival 2016" (PDF). Monetary Authority of Singapore. Retrieved July 30, 2020.
  13. "Singapore Fintech Festival 2017" (PDF). Monetary Authority of Singapore. Retrieved July 30, 2020.
  14. "Inaugural SFF x SWITCH" (PDF). Monetary Authority of Singapore. Retrieved August 3, 2020.
  15. "Singapore FinTech Festival attracted a record 45,000 participants from 130 countries". Monetary Authority of Singapore. November 19, 2018. Retrieved August 3, 2020.
  16. "Singapore Fintech Festival 2018" (PDF). Monetary Authority of Singapore. Retrieved July 30, 2020.
  17. "Singapore Fintech Festival 2019" (PDF). Monetary Authority of Singapore. Retrieved July 30, 2020.
  18. "Inaugural SFF x SWITCH sees over 60,000 participants from 140 countries; event to return on 9-13 November 2020". Monetary Authority of Singapore. November 19, 2019. Retrieved August 3, 2020.
  19. "Top 10 Global Fintech Hubs:Singapore". BizClik Media Limited. July 23, 2020. Retrieved August 3, 2020.
  20. "SFF SWITCH INFO PACK" (PDF). Monetary Authority of Singapore. Retrieved August 3, 2020.
  21. "Singapore Fintech Fundraising Rises Sharply in 2019 to Date, Driven by Spike in Average Size of Payments and Insurtech Deals, Accenture Analysis Finds". Accenture. October 14, 2019. Retrieved August 3, 2020.
  22. "Singapore FinTechs Experienced a Flurry of Fundraising, Recording Over Half a Billion Dollars (S$650m) in M&A and Equity Funding in the First Half of 2020". Boston Consulting Group. June 20, 2020. Retrieved August 3, 2020.
  23. "S'pore To Host World's Largest FinTech And Deep Tech Festival..." Vulcan Post. Retrieved August 3, 2020.
  24. "DEAL FRIDAYS". Monetary Authority of Singapore. Retrieved August 3, 2020.
  25. "New industry-wide research platform to support FinTech investments". Monetary Authority of Singapore. November 12, 2019. Retrieved August 3, 2020.
  26. "SFF:THE GREEN SHOOT SERIES". Monetary Authority of Singapore. Retrieved August 3, 2020.
  27. "PM Modi's keynote address at Singapore Fintech Festival". narendramodi.in. November 14, 2018. Retrieved August 9, 2020.
  28. "PM Narendra Modi's keynote address at the Singapore FinTech Festival". Business Standard. November 14, 2018. Retrieved August 10, 2020.
  29. "Narendra Modi in Singapore Highlights: PM calls for early conclusion of Regional Comprehensive Economic Partnership". Hindustan Times. November 14, 2018. Retrieved August 10, 2020.
  30. "Do not copy this site's content!". The Economic Times. November 14, 2018. Retrieved August 10, 2020.
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  32. "In Singapore, Modi tells world's fintech firms: India is your best destination". India Today. November 14, 2018. Retrieved August 10, 2020.
  33. "Narendra Modi in Singapore: At Fintech Festival, PM cites Aadhaar, UPI; says inclusive growth stems from digitisation in India". Firstpost. November 14, 2018. Retrieved August 10, 2020.
  34. "PM Narendra Modi delivers keynote address at fintech festival in Singapore, praises Aadhaar scheme, Jan Dhan Yojana". The Times of India. November 14, 2018. Retrieved August 10, 2020.
  35. "PM Modi hard-sells India to global FinTech firms". Deccan Herald. November 14, 2018. Retrieved August 10, 2020.
  36. "Winds of Change: The Case for New Digital Currency By Christine Lagarde, IMF Managing Director (Singapore Fintech Festival)". International Monetary Fund. November 14, 2018. Retrieved August 9, 2020.
  37. "IMF's Lagarde says central banks could issue digital money". BBC. November 14, 2018. Retrieved August 9, 2020.
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  40. "Look at issuing digital currency, IMF head tells central banks". Financial Times. November 14, 2018. Retrieved August 9, 2020.
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  43. "Lagarde has a case for central banks using digital currencies". Khaleej Times. November 14, 2018. Retrieved August 9, 2020.
  44. "Lagarde Sees Case For central Banks Digital Currency". Daily Tribune (Bahrain). November 15, 2018. Retrieved August 9, 2020.
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  50. "Winds of Change: The Case for New Digital Currency". International Monetary Fund. November 14, 2018. Retrieved August 11, 2020.
  • Keynote Address Text, Video (By Narendra Modi, Prime Minister of India)(At SFF 2018)



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