Fintech 'crucial to Singapore's status as Asian finance hub'

SMU Sim Kee Boon Institute for Financial Economics organised a conference on Financial Technology (or fintech) and Financial Inclusion yesterday. Speaking at the conference, Minister for Trade and Industry (Industry) S Iswaran noted that fintech will be a crucial differentiator for Singapore to remain a regional financial hub. To help companies here gain a slice of this growing pie, the Government is helping small and medium-sized enterprises adopt fintech, especially e-payments, with a view to more active participation in e-commerce. The Singapore Government also hopes to take the lead in developing a regional e-payments strategy so that companies can tap the region's growing middle class and large consumer base, Mr Iswaran noted. Other speakers at the conference also touched on the issue of financial inclusion.