Fintech is one of the most leading fields in the digital sector, especially in countries well-developed in the financial industry as Singapore. Singapore is known to be one of the most leading companies in terms of Finance as strong banking systems, talent, and biggest financial firms. The country is now investing in Fintech technology to help ease the use of its financial services and different technologies.
EY: was able to ensure a huge growth for their values due to the implementation of the fintech services and tools on their work. The company has reportedly had an increase of almost 67% in growth and revenue due to only 2 years of investment and implementation in fintech. This is the perfect example in the country on the importance of using fintech and how efficient it is.
This was commented on by one of the global emerging markets fintech leaders at EY: called Varun Mittal who said, “Singapore has enjoyed significantly increased rates of consumer fintech adoption, and we expect even higher rates in future, due to the supportive regulatory environment. Singapore may be a relatively small business-to-consumer (B2C) market by size, but it is a hotbed for innovation and a great Launchpad for startups and businesses to build their technology, test it, and then scale across South-east Asia. As Mainland China continues to lead on consumer and SME-focused financial services innovation, the inspiration from Chinese fintechs is increasingly permeating across the region.”