Modi declares India as the best destination for Fintech firms at the Singapore Fintech Festival.
Singapore Fintech Festival is the world’s largest platform for Fintech (financial technology) Community held at the Singapore Expo. This year the Fintech festival will be organized from 12th to 16th November with thousands of participants from all across Asia participating to be a part of a series of exciting events that are being organized under this festival.
This year is the third edition of the Singapore Fintech festival and around 40,000 participants are expected to be a part of this festival with over 250 speakers, 450 exhibitors and 16 international pavilions. The Festival commenced with the three-day fintech conference (12-14 November) and Narendra Modi, Prime Minister of India, and Christine Lagarde, Managing Director of the International Monetary Fund addressed the audience on the third day.
The conference focuses on nine key themes across 70 sessions, including AI in finance; ASEAN fintech opportunities; cyber-security, techrisk and regtech; financial inclusion; future of banking; future of money; global investor summit; insurtech and market infrastructure.
New Zone for ASEAN Startups
What is unique this year is that a new zone has been established that is specially dedicated to ASEAN startups and the Trade visitors and delegates can learn more about fintech in ASEAN there. There are free guided tours of the area daily.
The theme of the Global Investor Summit that was organized on 13th and 14th November was “AI in Finance Driving Global Progress.” The major topics of discussion were cloud and quantum computing, AI investment, ethical and responsible AI, and predictions for an AI-driven future.
Fintech Hackcelerator Demo Day
The Global Fintech Hackcelerator Demo Day which was on 12th November at the Fintech Festival showcased 20 market-ready fintech solutions that were shortlisted from 304 submissions. These solutions are designed to solve real-life industry problems in four categories - financial inclusion, insurtech, regtech and suptech and general.
All Day Dining Area
Aloysius Arlando, Chief Executive Officer of SingEx, said, “We have weaved in unique elements from the region in various aspects of our event design, from the overall layout of our stages and lounges to a uniquely ASEAN-inspired culinary theme presented by award-winning chefs at our all-day dining area.”
So this shall be a delicious treat for all the participants.
Modi declares India as the best destination for Fintech firms at the Singapore Fintech Festival
During the Fintech conference Prime Minister Narendra Modi said “I say this to all the fintech companies and startups: India is your best destination, Just as India's scale brought down the LED price, it will also enable fintech products to achieve scale, reduce risks and costs, and go global.”
Here, Modi launched APIX, a banking technology intended to reach two billion people without bank accounts worldwide.
During his speech, Modi said fintech can be harnessed to combat money laundering and other monetary crimes, and develop the human condition "through direct contact with the most marginalized".
Modi highlighted the outcomes of the work done by his government and focused on the creation of biometric identities through Aadhaar and the opening of new bank accounts.
He said "More than a billion biometric identities, more than a billion bank accounts and more than a billion cell phones give India by far the biggest public infrastructure in the world."
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