Fintech in S'pore - from hype to reality in 2017
Government is progressively driving initiatives in the fintech space.
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
"SILICON Valley is coming". Jamie Dimon, the chief executive of JP Morgan, one of the world's largest banks, used this simple phrase to issue a warning about the potential of fintech (financial technology) startups and the impact they could have on the banking sector. The warning was issued in his annual letter to the bank's shareholders in April 2015.
Nearly two years later, his words are coming true, for the most part. Fintech startups are shaking up not just the traditional banking, but the entire financial-services sector including insurance, trading, wealth management and investment.
However, there is one thing that Mr Dimon, like many others, may not have seen coming: the rapid growth of fintech being driven by Singapore.
Copyright SPH Media. All rights reserved.
TRENDING NOW
StarHub hands Ensign InfoSecurity control back to Temasek in S$115 million deal, books S$200 million gain
Singaporeans can now buy record amount of yen per Singdollar
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
Keppel DC Reit posts 13.2% higher Q1 DPU of S$0.02833 on strong portfolio performance
