Fintech Insider Podcast by 11:FS
910. Insights: Is Singapore the best place in the world to start a fintech?
Oct 31, 2024
Anupam Pahuja, Executive VP at Nium, shares insights on emerging markets, while Joel Leong, co-founder of Aspire, discusses innovative banking solutions for businesses. Shadab Taiyabi, President of the Singapore Fintech Association, highlights the dynamic fintech ecosystem in Singapore. They explore the country’s rapid growth as a fintech hub, the impact of supportive regulations, and collaboration between startups and traditional finance. Plus, a delightful detour into Singapore’s culinary scene adds a flavorful twist to the fintech conversation!
47:53
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Quick takeaways
- Singapore's rapid growth as a fintech hub is fueled by supportive regulations and a collaborative ecosystem between businesses and government bodies.
- The rise of super apps and embedded finance is shaping the future of fintech in Singapore, balancing convenience with specialization in services.
Deep dives
The Growth of Fintech in Singapore
Singapore has emerged as a leading global fintech hub, experiencing significant growth in its fintech landscape since the concept was formally introduced in 2015. Over the years, the number of fintech companies has skyrocketed from around 100 to approximately 1,500, with investments soaring to over $4.1 billion. This growth has been bolstered by supportive regulations such as the Payment Services Act, which encourages innovation and activity-based regulation. Prominent subsectors include payments, Web3, and regulatory technology, demonstrating the diversification and maturity of the ecosystem.
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