With the advent of fintech and deeper penetration of technology in the banking and finance sectors, submitting documents or planning trips to the banks is giving way to a new system. The new system is fast, available on the go, paperless and can put you in touch with the right products. Here is why it works for both customers and banks.
Fintech is an up and coming sector in Singapore but for it to really succeed banks and fintech companies will need to work together. So how is it that they can achieve this? How can fintech leverage its expertise which can then be used by the banks? How can they work together to nurture the environment for fintech in Singapore to grow? Lets find out.
The MD of the MAS, Mr. Ravi Menon, had said that Singapore would need a supply of talent, mentorship and funding for its fintech sector if it was to catch up with the global fintech market. Budget 2017 has addressed the matter with provisions that are meant to help fintech rise which range from funding education to talent development. Lets take a closer look at what else the budget has to offer.
What does the road ahead looks like, post demonitisation, for India’s bid to become cashless economy. How does the infrastructure have to change, or improve, in order to accommodate this move to a digital economy? What are the key areas that India needs to focus on to help move this effort to the next stage?
Even though Singapore is a growing hub for business, it faces stiff competition from the growth of technology in Asia. If it is to remain competitive, it will have to come up with a plan to keep pace with the global economy. To that end the CFE (Committee of Future Economy) has made certain recommendations but their reception has be mixed. So lets take a look at the hits and misses of these recommendations.
Heng Swee Keat, the Finance Minister of Singapore, announced a range of initiatives in the Budget 2016 statement that will offer more support and higher support for disabled and low-wage workers. Such workers will receive payouts under the Workfare Income Supplement (WIS) scheme. This scheme supplements the CPF savings and income of the workers and… Read More »
TACs or Trade Associations and Chambers will get in touch with the firms, particularly Small and Medium Sized Enterprises. The SMEs will get a lot of funding so that it can attract new talent, develop capabilities and also strengthen the partnerships. SPRING will go into a partnership with TACs on thirty different projects in order… Read More »
Singapore has always been the hotbed for innovation and industry. A fact that has been deservingly highlighted by this year’s budget. In his inaugural budget speech, the honorable finance minister, Mr. Heng Swee Keat decided to take on four of his government’s priorities head-on: the national economy, people centric initiatives, home improvements and national security.… Read More »
Keeping in mind long term growth prospects and economic transformation, the government has set aside S$4.5 billion under the new Industry Transformation Programme (ITP) to stimulate growth for industries and firms. In his budget speech delivered on March 24, the Finance Minister Heng Swee Keat unveiled a comprehensive package consisting of three levels. The… Read More »
Finance Minister Heng Swee Keat delivered the budget statement on March 24, 2016. Key Areas of focus are to continue the transformation of the Singaporean economy whilst ensuring the society remains caring. Overall budget expenditure will be SGD 5 billion more than the previous financial year. The finance minister expected a SGD 3.4 billion overall budget surplus… Read More »
The budget for 2016 will be announced on 24 March, 2016 and people are waiting in anticipation of a budget that will cater to the needs of Singaporeans from all walks of life. The budgets in Singapore mainly cover two key areas – Economic and Social. Let us take a look at some of the… Read More »