Singapore's fintech drive arcs towards financial inclusion

Singapore

THE fintech wave will cast a wider net to capture smaller corporates cut off from financing, in a push by the Monetary Authority of Singapore (MAS) for small and medium-sized enterprises (SMEs) at home and in the region to give improved access to technology services and to credit.

And to prevent technology from creating fault lines that hurt the drive for financial inclusion, the regulator has also set out the world's first set of principles to guide the responsible use of data in financial services.

These guidelines call for boards of financial institutions to be made aware …