In a thought leadership article on the future of FinTech (or financial technology) in Singapore, SMU Lee Kong Chian School of Business Professor of Quantitative Finance (Practice) David Lee Kuo Chuen said Singapore ought to capitalise on and improve its financial technology edge – by serving the hinternet including its Association of South East Asian (ASEAN) neighbours. He contemplates the future of Singapore’s banking and finance sector in the wake of explosive growth in global financial technologies, which is disrupting global financial systems and challenging traditional banking’s viability. Prof Lee believes FinTech is the next big thing in finance, which can also help narrow the rich-poor divide. He noted that Singapore banks have to embrace FinTech to compete and grow locally and in Asean. He also emphasised that Singapore must also grow its own core talents and promote an ecosystem that encourages companies to venture, knowing that only some end up succeeding.