Highlights of Deloitte’s participation at the Singapore FinTech Festival
FinTech Conference Day 1
14 November 2017, Singapore EXPO
At the opening day of the three-day FinTech Conference, Bob Contri, Global Leader, Financial Services Industry, Deloitte, participated in a Leaders Dialogue focusing on established markets. At the Deloitte Stage, Bob discussed the challenges mature markets face in sustaining consistent growth and driving innovation.
Another highlight of Day 1 was a panel discussion moderated by Deloitte’s Jojy Mathew, Global Co-Leader Analytics & Information Management, Financial Services Industry. While Big Data presents opportunities for the society, businesses and individuals if harnessed correctly, there are challenges and risks to Big Data that need to be taken account. Together with the panellists, Jojy discussed the prerequisites that need to be in place before society can reap the full benefits of Big Data.
FinTech Conference Day 2
15 November 2017, Singapore EXPO
David Cruickshank, Global Chairman, Deloitte, kicked off Day 2 of the FinTech Conference at the Singapore EXPO with a keynote address on, “The future of financial services”. His presentation was based on a recent study conducted by Deloitte and the World Economic Forum study on the transformative role of FinTech on the financial services industry. During his session, David outlined how FinTechs have changed the way financial services are structured, provisioned and consumed, but have not successfully established themselves as dominant players. David also highlighted that while some financial institutions have turned the threat of FinTechs into an opportunity, the accelerating rate of change represents a serious threat and financial services executives with a mindset for change are the one that are likely to succeed in the future.
In the afternoon of Day 2, Michael Tang, Global Digital Transformation Leader, Financial Services Industry, Deloitte, shared his views on the topic of Open Banking versus banking APIs, in a session entitled “Open architecture: From mindset to skillset”. Michael highlighted that Open Architecture also provides opportunities for banks to rethink their business models with the potential to be a ‘catalyst for a game changer’ for banks.
Deloitte Workshop @ The Cloud
14 November 2017
Deloitte Private hosted a panel discussion at The Cloud – one of two themed presentation spaces located within the FinTech Exhibition. Koh Soon Bee, Partner, Financial Advisory, shared insights on ‘Getting capital for your idea’. This was followed by a panel discussion with successful entrepreneurs Joel Ko, President, Marvelstone Group; Kimmy Paulino, COO, Startupbootcamp Fintech; Gregoire Rastoul, CEO, UEX; and Taras Wankewycz, CEO, H3 Dynamics who shared their journeys of capital raising based on an idea or concept as well as narratives that best worked for them.
Digital Transformation Journeys Panel
15 November 2017
Multinational corporations, specifically financial institutions (FIs), rely on their global employee base daily to execute their institution’s mission and strategy. This can be a challenge in the digital world as over 90% of the talent pool within FIs is inherently resistant to change. Further, the organisational structures in place are designed to facilitate controlled process execution. While FIs want to radically test their organisational boundaries, they have face strong resistance from within. In a panel session hosted by Deloitte, Michael Tang, Global Digital Transformation Leader, FSI, spoke with Linda Duncombe, Chief Marketing Officer at Citi FinTech and Paul Misener, VP Global Innovation at Amazon about their organisation’s successful transformation journeys. They shared best practices and insights on the path FIs can take to move forward on their own digital transformation journeys.
Digital Financial Services Workshop
15 November 2017
As mobile becomes the primary device revolving around our daily lives, it is shaping how consumers search, purchase and pay for goods and services. Consequently, the universe of mobile financial services is expanding swiftly as boundaries blur and new entrants disrupt existing business models. There is no better time for Telecommunications (Telco) Operators to capitalise on the digital evolution in the Financial Services market – driven by new technologies, customer needs, and a changing regulatory environment. At an exclusive workshop hosted for telco operators in the region by our SEA TMT practice, our Deloitte subject matter specialists and invited client speakers discussed Digital Financial Services opportunities for Telcos as well as shared case studies of Telco success in greater Africa.
Managing Culture and Conduct Risk
16 November 2017
Deloitte’s Financial Services Industry (FSI) Leaders hosted a FSI Executive Briefing session on the topic of “Culture and Conduct Risk” for close to 30 client executives from the Banking & Securities sector. The briefing centred around Kevin Nixon’s presentation of a report by the Deloitte’s Asia Pacific Centre for Regulatory Strategy (CRS), titled, Managing Conduct Risk. Kevin, Global and Asia Pacific Lead Partner of CRS, identified the fundamental drivers of misconduct in the financial services industry, the various industry and regulatory initiatives that have arisen in response, and some of the emerging technologies firms can enlist to help manage conduct risk. Deloitte’s Andrew Ong and Foo Chuan Jin from the FSI practice followed with a presentation on the regulatory landscape in Singapore and best practices for financial institutions to manage conduct risk, respectively. Wrapping up the breakfast session was David Roberts, Audit Partner from the FSI practice, who provided an overview of leading principles and key considerations of the FX Global Code.
Highlights of Deloitte's participation
Singapore FinTech Festival
Research from Deloitte & the World Economic Forum
Research from Deloitte & The World Economic Forum