'Uber of banking' sparks radical changes across industries

FINANCIAL technology, or fintech, is forcing a change in many of Singapore's traditional sectors. From financial services to consumer retail and investment, digital disruption is transforming a broad range of businesses. Fundamentally, the principles of financial services - to save, exchange, invest, finance and insure against risk - will remain unchanged. What is certain to change is how users address their needs through such services.

This will trigger a revolution in the way other related businesses within a broader ecosystem operate. Popular fintech solutions such as robo-advisory, blockchain, QR payment mechanisms and crowdfunding, have influenced decision making and how consumers …