The Singapore Fintech Festival was probably the biggest one here yet, and the Monetary Authority of Singapore (MAS) has made some definitive pushes into big data, artificial intelligence, and the launch of an ASEAN-wide API to answer the global demand for open banking principles. More recently though, MAS has given an idea of their plans for the future, with a US$5 billion (SG$6.91 billion) worth private market programme allocated as its investment portfolio into the private markets asset class--a move by MAS to anchor global asset managers into Singapore and catalyse more growth in that sector of Singapore. MAS has also announced a "Sandbox Express" to complement its existing sandbox, which are pre-defined sandboxes so that fintechs can conduct their experiments more quickly than the existing measures. And all of this does not yet venture into the often volatile, but always interesting startup sector. Fintechnews has identified 13 promising Singapore based Fintech companies which will shake 2019's direction and purpose, one way or another.
Blockchain, artificial intelligence (AI), machine learning and Big Data will transform capital markets, according to German stock market operator Deutsche Boerse. It urges established financial infrastructure players to start approaching fintech firms and consider partnering with these innovative ventures. In a new report entitled'Future of Fintech in Capital Markets,' Deutsche Boerse, in collaboration with fintech research and advisory firm Celent, analyzes the potential impact of fintech on market infrastructure incumbents and highlights the opportunity for providers in partnering with these new innovative ventures. According to David Easthope, senior vice president and responsible for the securities and investments practice of Celent, pioneering fintech firms are transforming major parts of the financial services ecosystem. He urges incumbents and fintech firms to start pursuing a collaborative approach, arguing that fintech will mostly likely shape the future of capital provision, technology, and other industry workflows.
"Customer experience is chief among the areas where traditional financial institutions have fallen short. Not long ago, wealth management was considered a service almost exclusively confined to the affluent. With their millions at the ready, wealthy investors could use wealth managers to provide a range of tailored investment-related services, and those services would normally come at a high price. But these days, such a perception of wealth management is becoming old, or simply not accurate. Innovation broke down those barriers of exclusivity, enabling services that were previously only accessible to the privileged few to be in the hands of the masses of ordinary investors. Wealthtech falls under fintech as a segment which specifically focuses on technology that aims to transform wealth management and retail investment. It involves the application of digital solutions to wealth management, ultimately providing new channels to deliver more efficient, cost-effective and efficient ...
Few weeks ago, Robo Investing Europe 2018 was kicking off in London. Techfoliance, as a proud partner of this event, has had great time sharing thoughts on the new financial era with influencers and friends Efi Pylarinou, Susanne Chishti or Paolo Sironi, among others. In case you could not attend, Techfoliance is happy to highlight key take-aways on a wide range of topics ranging from Deep Technologies like Robo Algorithms, Artificial Intelligence, and Digital Identity to top subjects like Private Investments, Automated Advice and Regulation. This year set to be a truly transformational one with implementation of new regulation PSD2, Open Banking or MIFID II. The reforms are setting in motion new and exciting ways to use APIs, share data and create seamless and intelligent investor experiences.
Big global banks are increasingly turning toward Artificial Intelligence (AI) technologies to stay competitive in the digital era. AI has huge benefits, for both banks and their customers. The implications of AI disruption in the financial sector is that the analysis of users' habits, activities, behavioral characteristics, and financial data products can be customized to meet and anticipate each user's unique and evolving needs. This makes it viable for each user to have his/her own digital personal financial assistant.