Singapore FinTech Festival 2023 – what the global fintech community is talking and thinking about
The Singapore FinTech Festival 2023, which is the largest gathering of the fintech industry in the world, could be a turning point in the field of finance and technology. This thought is prompted by the choice of three key thematic tracks for the event, which for this year’s edition are ‘Beneficial AI’, ‘Accelerating ESG’ and ‘Digitising Inclusion’. All reflect the current priorities, issues and challenges facing advisers, regulators, financial institutions and private companies in the wider fintech sector.
Technology and AI at the service of a more sustainable and inclusive financial world
Dominant themes such as the role of artificial intelligence in finance, sustainability and digitalisation in the banking sector suggest profound changes in the fintech landscape.
Indeed, the conclusions drawn from the panels, discussions, presentations and workshops highlight the challenges which will need to be faced in the near future. These include risk management, AI ethics and the need for responsible innovation in the context of increasingly complex technologies.
On the other hand, all these discussions open the door to enormous opportunities.
Sessions like ‘Project Savannah: Maximising the potential of digital ESG credentials for MSMEs’ and ‘Bridging the Gap: AI Governance in Banking – From Principles to Practice’ show how fintech can contribute to a more sustainable and inclusive financial world.
The growing importance of technology in shaping the future of finance is clear. Lawyers, regulators, investors and, ultimately, entrepreneurs attending this year’s event emphasised the importance of continuous development and adaptation to effectively meet these changing demands and seize new opportunities in the fintech world.
Kochanski and Partner’s own Fintech head, Jan Ziomek in his presentation ‘Digital assets regulation: How does it impact the FinTech sector?’ discussed how the MICA regulation will affect the functioning of financial institutions, both in the European Union and beyond.
Companies already active in this field will have to adapt to the new regulations if they want to target EU customers, and were particularly interested in what our FinTech practice head had to say.
Singapore FinTech Festival
The Singapore FinTech Festival is the world’s largest financial technology conference, serving as a global knowledge platform for the fintech community. First held in 2016, the event initially included elements such as the FinTech Awards, the Global FinTech Hackcelerator and conferences on topics such as APIs, Big Data, Blockchain, Machine Learning, RegTech and Tech Risk, and immediately became a fixture on the fintech industry calendar.
It is organised by the Monetary Authority of Singapore, Elevandi and Constellar, in partnership with The Association of Banks in Singapore.
The festival attracts more and more participants every year. In 2016, approximately 13,000 people from 60 countries attended, and in 2019, that number grew to 60,000 people from as many as 140 countries, including industry professionals, company founders, investors, academics and government officials. According to the organisers, 66,000 people attended this year’s event.
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