Singapore FinTech Festival to have ASEAN, AI focus this year

Singapore FinTech Festival to have ASEAN, AI focus this year

Ravi Menon at FinTech Festival
Managing Director of the Monetary Authority of Singapore Ravi Menon speaking at the FinTech Festival. (Photo: Janice Lim)

SINGAPORE: This year's edition of the Singapore FinTech Festival will have a focus on Southeast Asia, given the country's chairmanship of the Association of Southeast Asian Nations (ASEAN), and artificial intelligence (AI), the Monetary Authority of Singapore (MAS) said. 

In a press release, the central bank said there will be two new elements in this year's festival: The ASEAN FinTech Showcase, which will highlight financial technology developments and opportunities in the region and a showcase of innovations from the 10 regional countries.

There will also be the Artificial Intelligence in Finance Summit, which will explore emerging AI solutions in trading, investment management, customer service and risk management, said the MAS, which is partnering with The Association of Banks in Singapore (ABS) to organise the event. 

It will also include discussions on quantum computing as well as governance and ethics in the application of AI, it added. 

The co-organiser pointed out that popular segments from previous editions will be "refreshed and enhanced" as well. 

For instance, the FinTech Awards will be revised to allow for more participation from Southeast Asian countries while the FinTech Investor Summit will have a new segment called Meet ASEAN's Talents and Champions (MATCH) to "facilitate deal-making by showcasing next-generation ASEAN startups and enterprises across all sectors and connecting them with potential investors". 

The week-long festival will be held from Nov 12 onwards, and this is its third edition. Last year, the Singapore FinTech Festival drew more than 30,000 participants from more than 100 countries, with more than 5,000 companies represented, the press release said. 

MAS chief fintech officer Sopnendu Mohanty said the festival has grown over the last two editions and has contributed to the growth of the financial tech industry in Singapore and the region. 

"We look forward to welcoming FinTech players and stakeholders from all over the world to Singapore, and to work with them to create new value and promote financial inclusion through innovation, digitalisation and connectivity,” he added. 

In support of the country's chairmanship of ASEAN, delegates from the 10 member states will enjoy special rates for tickets to the festival, it added.

Source: CNA/kk