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Singapore FinTech in Trust Valley, Switzerland Following our webinar "Opportunities in Fintech and Digital Trust in Switzerland," on September 3rd with EnterpriseSG - Europe, Switzerland Global Enterprise, Innovaud , Singapore FinTech Association (SFA) and Trust Valley Trust Valley Invites you to explore the vibrant Swiss Ecosystem at Trust Village unlimitrust Please express your interest in the link to form below, let us drive more bilateral exchanges and activities between Switzerland and Singapore. Contact Us - Flaminia Giuncato https://lnkd.in/efCYqsJQ The Canton of Vaud in Western Switzerland plays a key role in the country's innovation and cybersecurity landscape, with over 2,000 technology companies employing more than 50,000 skilled professionals. It is home to Trust Valley, a collaborative initiative that advances digital trust and cybersecurity, uniting academic institutions, businesses, and governmental bodies. Liv Minder | Xavier Philipona | Lennig Pedron | Pascal Marmier (孟思恺) Delphine Constantin Shadab Taiyabi | Khai Lin Sng |Chye Kit Chionh | Scott Krivokopich | Adrian Ang | Adrian Chng | Bernard Chan Matthew Lovatt  | Pauline Sim |Shi Mei Chin | Tan Chun Hao |Reuben Lim | Shakeel Rashid |Swati Sodhani | Adeline, Bee Yen Lau (ACII) | Sylvia Saw McKaige |Gwendolyn Loh | Christine Chua | Samantha Soong | Chung Wei Tat | Lucas Kuek | Kayleen Tan Switzerland for Fintech and Digital Trust companies. Ranking first in the Global Innovation Index for consecutive years between 2020 to 2023, Switzerland is globally recognised for its strength in innovation. The Canton of Vaud, located in western Switzerland, is a key player in this landscape, and is home to the Trust Valley, a collaborative initiative that fosters excellence in digital trust and cybersecurity. Trust in Fintech Singapore Financial technology (Fintech)and Trust Valley in Canton of Vaud, Switzerland are both focused on improving Trust. Our Fintech ventures are world class from mobile payment apps to blockchain-based solutions, sensitive financial data and transactions on behalf of users. Without trust, these innovations, no matter how revolutionary, will struggle to gain widespread adoption. One of the key challenges Fintech companies face is establishing security and transparency. For companies that work with emerging technologies, like blockchain or AI-based credit scoring, demystifying the technology is crucial. If consumers don't understand how their data is being used or why decisions are being made, trust erodes. Finally, trust in Fintech extends beyond just security and transparency. It’s about building long-term relationships with users. Offering reliable customer support, resolving disputes quickly, and showing empathy during challenging times all contribute to building and maintaining trust in this competitive sector. #Singapore #Switzerland #Fintech #Blockchain #Ai #Innovaud #Vaud

Top 10 Insights Every Startup Needs to Know In today's fast-paced fintech world, navigating risks is crucial for success. From technology to compliance, here are the top 10 risks every fintech startup must manage to thrive 📊 Top 10 Risks for #Fintech: 1- Strategic Risks Differentiating products and services is essential as global competition grows. Creating a unique brand can attract vital funding in a crowded market. 2- Third-party Risks Relying on third-party vendors necessitates thorough due diligence to avoid operational or security issues that can affect customer data. 3- Credit Risks For lenders, ensuring reliable data quality is key to minimizing the risk of loan defaults, especially when working with underbanked demographics. 4- Technology Risks While new technologies can revolutionize services, hasty implementation can lead to data leaks and operational failures. Innovate with security and compliance in mind. 5- Market Risks Exposure to market fluctuations, such as interest and exchange rates, requires fintechs to plan for varying economic conditions. 6- Operational Risks Internal process failures, system malfunctions, and human errors can disrupt operations. Effective risk management and operational resilience are crucial. 7- Regulatory Compliance Keeping up with evolving regulations, like PSD3 and the EU's AI Act, is vital for fintechs operating in multiple jurisdictions. 8- Fraud and Financial Crime With increasing hacking attempts, fintechs must have robust processes to safeguard customer accounts using the latest security innovations. 9- Cybersecurity Threats Fintechs are prime targets for cyberattacks. Ensuring strong cybersecurity measures is critical to protect sensitive financial data. 10- Reputation Risks Poorly managed risks can lead to significant reputational damage. High-profile fines and negative publicity can drastically impact a fintech's customer base. Understanding and mitigating these risks is essential for fintech startups to achieve sustainable growth. By addressing these challenges head-on, fintech can position themselves for long-term success. Source: FinTech Magazine

Exciting news from the Swiss fintech sector: continued growth, particularly among sustainability-focused companies, signals positive momentum. Fintech companies have tripled since 2015, with a record high of 483 at year-end 2023, marking an 11% increase from the previous year. Notably, sustainability-focused fintechs are leading the pace, representing 10% of the sector and experiencing impressive 23% growth, aligning perfectly with the rising demand for sustainable investment options. Whilst fintech funding in 2023 saw a decline, there remains positive momentum in the sector and the potential remains vast. Switzerland's commitment to sustainable fintech is a major strength. Continued investment in AI and adaptation to emerging technologies will be crucial to maintain its edge.

FinTech Lab With a promising vision for the Kingdom of Saudi Arabia to be a pioneer in the financial sector and in line with the strategic objectives of Saudi Vision 2030, CMA has supported Financial Technology (FinTech) since the launch of the FinTech Lab in 2018, aiming to keep pace with the Technology advancement in the Capital Market. The FinTech ecosystem in the Kingdom of Saudi Arabia is characterized by its high attractiveness that allows companies to offer innovative services efficiently, due to the development of the technological infrastructure along with a high maturity level of e-government services, that will support FinTech companies to deliver fast automated services. CMA is working to follow the best practices in regulating and facilitating Financial Technology, coming from its legislative role, which contributes to the national economy and in achieving the Financial Sector Development Program goals. Through developing a simplified regulatory framework to attract innovative business models and emerging technologies that have the ability to shift the financial services industry to new horizons To facilitate financing, stimulate investment and promote economic development, and in an effort to empower economic entities that enhance the depth and diversity of the Financial Sector. CMA also launched the Saudi FinTech initiative to stimulate the FinTech environment through developing the FinTech infrastructure and supporting entrepreneurs in FinTech. The lab is a legislative experimental environment that allows FinTech products and services to test their innovative business models within specific criteria, time period, regulatory requirements, and under the supervision of the Capital Market Authority. The FinTech lab attracts local and international firms located in the kingdom that provide financial products and services related to securities activity in line with market needs, with innovative business models that are for testing in an experimental environment. CMA receives applications for obtaining a permit to experiment with The FinTech Lab throughout the year in which the assessment of applications will be conducted through batches, kindly view the Financial Technology Experimental Permit Instructions and submit your request by filling and emailing the Application form. CMA is looking forward to starting the 7th evaluation of FinTech ExPermit applications for the applications received until November 23, 2023. For further information you can communicate with CMA through the following email: FinTech.Expermit@cma.org.sa

Fintech Hub LT in the latest Fintech News Baltic article - What was 2023 like for Lithuanian fintech companies and what to expect in 2024? Greta Ranonytė, Head of Fintech Hub LT, shared her insights on the development and prospects of the fintech sector. With the world becoming more and more digital every year, the role of Fintech companies providing next-generation financial services is growing. Hardly anyone remembers the days when, for example, you had to go to a bank branch to solve your banking problems. According to Greta Ranonytė, financial technology is like the éminence grise: we may not know the names of the companies, but we feel the results of their work and innovations every day when we transfer money with just a mobile phone number, pay in a shop with a swipe of a card or a mobile phone, or conveniently pay small merchants in a market or at the hairdresser's. Fintech companies are also solving the pain points of small businesses. Whether it is processing e-commerce payments, collecting payments or facilitating credit. Increased competition in the financial sector is leading to more choice for consumers, which is adjusting the prices of services and encouraging companies to develop more customer-centric and innovative services and products. In 2023, Lithuanian fintech companies provided payment services to 27 million customers across the European Union, or one in ten Europeans. A survey of members of Fintech Hub LT, an association of licensed financial technology companies in Lithuania, shows that the number of profitable electronic money institutions (EMIs) and payment institutions (PIs) is growing every year. This allows companies to create even more high value-added jobs. The association's member companies employ almost 2,000 people, and the sector as a whole employs more than 7,000 people. The average gross salary of these employees is well above the national average, at €3,889 in the member companies alone. We invite you to read more via the link: https://lnkd.in/gkm7eURp

Pulse of Fintech H1’24 by KPMG International is now available! 🚩 Global analysis of fintech funding and development. 📈 Whether you're a fintech enthusiast, investor, or industry leader, the summary provides valuable insights into the current state of fintech and what to watch for in the months ahead. Here is a summary of the report in 10 points (60 sec. read) 1. Growth in Regtech: Global investment in Regtech reached $5.3 billion in H1'24, making it the second most attractive sector after payments, with notable deals in the UK and the US. 2. Cybersecurity Investments: While global investment in cybersecurity was softer at $640 million, the deal volume remained strong, particularly in the US. 3. Predictions for H2'24: The report anticipates continued subdued fintech investment, with potential areas of growth in AI, payments, and Regtech, as well as increased focus on Central Bank Digital Currencies (CBDCs) and stablecoins. 4. Global Fintech Investment Decline: Total global fintech investment fell from $62.3 billion in H2'23 to $51.9 billion in H1'24, marking the lowest six months of fintech investment since H1'20, driven by geopolitical uncertainty and high interest rates. 5. Regional Investment Drops: All regions experienced a decline in fintech investment, with the EMEA region seeing the sharpest drop from $19.4 billion to $11.4 billion between H2'23 and H1'24. 6. Major Deals: Only five $1 billion+ deals occurred globally in H1'24, all being buyouts, with the Americas accounting for four of these deals, including the $12.5 billion Worldpay deal in the US. 7. Sector Focus: Payments remained the leading sector for fintech funding globally, attracting $21.4 billion in H1'24, while Regtech was the only major subsector to see an increase in investment during the first half of 2024. 8. AI as a Key Interest Area: AI continued to attract significant interest from investors, particularly in the US, with several large AI-focused fintech deals occurring in H1'24. 9. Cautious Investor Sentiment: Fintech investors remained cautious, with a restrained approach to large deals and a focus on mature, stable markets. 10. Challenges in the Insurtech Sector: Insurtech investment fell to its lowest level in a decade, with just $1.6 billion in global investment in H1'24, largely due to the high cost of capital. Acsess KPMG's landing page at https://lnkd.in/dCuCQMPS #Fintech #AI #Investing #Regtech #Cybersecurity #DigitalTransformation #Innovation #InvestmentTrends Authored by Anton Ruddenklau Karim Haji Timothy Johnson Courtney H. Trimble Ram Menon Chris Steele Charles Jacco Leon Ong Bandyopadhyay Robert Ruark Simon P. Petitjean, PhD 📊📈 Maciej Waloszyk Frederic Moioli Vojtech Seman Tobias Seidl Petra Krizan Niamkey Kouamé Ionut Stere Sareer SHAH Evrydiki Tasika Thomas Grünwald Kelvin Tham Tommi Lindfors David Kiener Laurent Denayer

Fintech Alliance.PH prepares for sustained industry growth in 2024 Fintech Alliance.PH, the Philippines’ leading fintech industry organization, builds on its previous year’s achievements by commemorating milestones and welcoming 20 new members during its inaugural General Membership Meeting held at Ascott BGC, Taguig City on February 16, 2024. With discussions on new collaborations and membership expansion, Fintech Alliance.PH is set to evolve from a national leader to a regional powerhouse. Notable accomplishments include the success of the multistakeholder cybersecurity awareness campaign #WagMagpalokoMagingScamAlerto and the Alliance’s significant role in the 2023 Singapore Fintech Festival, where it hosted the pioneering Bagong Pilipinas: The Philippines Country Pavilion. Founding chairman Lito Villanueva announced the Alliance’s reprisal as the lead organizer of the Philippine exhibit at SFF 2024, one of the largest global fintech events. Key partnerships were formed during the Bagong Pilipinas country pavilion. Moreover, the Alliance co-founded the 11-member Asia FinTech Alliance, comprising prominent fintech associations across the region. Expressing enthusiasm, Villanueva stated, “I am proud of our alliance’s rapid growth and expanding reach. As we move forward, Fintech Alliance.PH is committed to ambitious initiatives in 2024.” With a membership exceeding 100 organizations covering 95 percent of digital-initiated transactions in the country, Fintech Alliance.PH continues its exponential network growth. Commissioner Romeo Lumagui Jr. emphasized the Bureau of Internal Revenue’s commitment to modernizing tax compliance through digital solutions and the Ease of Paying Taxes Act, highlighting the imperative of digitalization in today’s landscape. The event also showcased the organization’s global presence in 2023, including participation in various international forums and summits, opening avenues for collaboration and growth. The annual Inclusion and Digital Transformation (INDX) Summit will be rebranded as the Fintech Alliance Manila Tech Summit in 2024 to reflect the evolving landscape of digital innovation across industries. Villanueva announced the organization’s ambition to accelerate its journey towards becoming a regional powerhouse by aiming to be recognized as a self-regulating organization in Association of Southeast Asian Nations by 2025. “We aspire not only to be a name but a symbol of empowerment and responsibility.” Maya GCash (Mynt - Globe Fintech Innovations, Inc.) Grab Home Credit Philippines CIS Bayad Center, Inc. Alibaba Cloud Coins.ph Amazon Web Services (AWS) Fintech Alliance PH Inc Bureau of Internal Revenue Romeo L.

Singapore's fintech sector has emerged as a shining example of resilience and innovation, even amid a global funding winter. According to KPMG's Pulse of Fintech report, funding for AI technologies in Singapore's fintech surged by an impressive 77% in the second half of 2023, reaching US$333.1 million. This remarkable growth underscores the potential of AI in transforming the financial landscape and driving positive change in the industry. Despite a challenging economic climate and declining fintech investments worldwide, Singapore's AI fintech funding rose to US$481.2 million across 24 deals for the full year, showcasing the Republic's commitment to nurturing a vibrant and innovative fintech ecosystem. The strong performance is a testament to the promising future of AI-driven solutions in finance, offering increased efficiency, improved accuracy, and enhanced customer experiences. However, the global downturn did impact Singapore's fintech sector, with total investment dropping to US$747 million across 87 deals in the second half of the year, a 64% decline compared to the first half. Despite these challenges, Singapore's fintech industry has maintained its position as a hub of innovation, with a full-year investment total of US$2.2 billion across 189 deals. KPMG attributes the cautious investor sentiment to geopolitical conflicts, high-interest rates, and increased scrutiny of potential fintech deals. Amid these challenges, Singapore's AI fintech sector stands out as a beacon of hope, offering a path forward for the industry's growth and evolution. Amid a global funding winter, the Asia-Pacific region experienced a significant decline in fintech funding, with a more than 75% drop to US$10.8 billion across 882 deals. India also saw a more-than-half reduction in fintech investment to US$3 billion. In contrast, China witnessed a year-over-year increase in fintech investment, rising from a ten-year low of US$800 million to US$1.9 billion. KPMG predicts that global fintech investment will remain soft in Q1 2024 due to ongoing global conflicts, high-interest rates, and a lack of exits. However, AI and business-to-business solutions are expected to attract investor interest, and M&A activity could rebound as investors explore distressed assets. KPMG's Global Head of Financial Services, Karim Haji, noted that the fintech market is evolving, and AI is driving the next wave of innovation. Despite the current challenges, the future of fintech looks promising, with exciting prospects for innovation fueled by AI and other cutting-edge technologies. As we look to the future, it's clear that AI will play a critical role in shaping the fintech landscape. Singapore's success in fostering a thriving AI fintech ecosystem serves as a model for other regions to emulate, proving that even in the midst of a funding winter, innovation and progress can flourish. Source: https://lnkd.in/geJNMBB2 #Simplyfi #ASEAN #Fintech #Funding #AI #Innovation

Investing in Fintech: How Technology is Reshaping the Financial Services Landscape: Recent quarters have seen a slowing in the rate of deals being done but fintech innovation remains a very powerful economic driver across the global ...

https://lnkd.in/ggQV9cFs Sheikh Al Maktoum NEO Technologies recently held a pivotal meeting with senior officials from the Republic of Panama at its Dubai headquarters, signaling a potential new phase of economic collaboration and investment between the forward-thinking technology firm and the Latin American nation. The discussions focused on creating strategic partnerships for mutual benefits across finance, technology, and trade. The meeting included H.E. Eduardo Arango, Vice Minister of Domestic Trade of the Republic of Panama, Mr. Mickael Mosse, CEO and Founder of Sheikh Al Maktoum NEO Technologies, and Dr. Munir Ahmad, CEO of the Royal Office of H.H. Sheikh Abdul Hakim Al Maktoum. Together, they engaged in in-depth conversations to strengthen investment ties, focusing on fintech and emerging technologies, areas in which Sheikh Al Maktoum NEO Technologies has become a market leader. “We see immense potential in collaborating with Panama, a country that serves as a gateway to the Latin American market,” said Mr. Mickael Mosse. “At Sheikh Al Maktoum NEO Technologies, we are continuously seeking strategic investment opportunities that align with our vision of driving innovation and expanding our global footprint. Panama presents a unique opportunity for us to bring our expertise in blockchain, AI, and digital banking to new markets, enhancing the technological landscape and facilitating stronger economic growth for both parties.” H.E. Eduardo Arango expressed a similar view, highlighting the potential for mutual gain: “Panama is eager to explore partnerships that will enhance our financial and technological sectors. Sheikh Al Maktoum NEO Technologies has a proven track record in these fields, and we are excited about the possibilities that this collaboration could bring. This meeting is the first step in creating a framework for long-term investment and economic cooperation between our two entities.” Fintech’s role in reshaping international trade and investment flows was a key topic. Sheikh Al Maktoum NEO Technologies, known for its innovative work in this area, is poised to help Panama streamline trade, improve financial inclusion, and stimulate economic growth through technological solutions. Both parties discussed joint ventures and investment opportunities, particularly in digital banking, cross-border payment systems, and sustainable technology infrastructure. Dr. Munir Ahmad emphasized the importance of sustainable, future-focused partnerships, saying: “The exchange of ideas and expertise between Sheikh Al Maktoum NEO Technologies and Panama is key to realizing impactful growth. We are not just looking at immediate gains, but how we can co-create long-term value through collaborative projects that will benefit the economies and technological advancements in both regions.”