Network for Electronic Transfers (Singapore) (NETS) looks to “take out as much cash as possible” as the company partners with seven banks in the country in launching a unified digital payment platform for NETS Quick Response (QR) code payments.
The third day of the Fintech Festival saw a speech from the UN secretary-general’s special advocate, Bill & Melinda Gates Foundation director of financial services for the poor, and other industry experts all discuss financial inclusion.
The 2017 Singapore Fintech Festival opened with Monetary Authority of Singapore managing director Ravi Menon addressing Singapore’s role in financial technology, followed by panel discussions on the global expansion of Chinese fintechs, and fintech’s growth in the Indian market.
This year, SIBOS focused the industry's attention on the future of banking and the various technologies and new players paving the way for efficiency, transparency and better customer experience. As institutions relook at their business models and prepare for the future, measures against financial crimes are also strengthened to keep safe in the digital era.