3 Reasons Why Singapore is Winning the Fintech Race

According to Nasdaq, Singapore is beating the whole world at fintech for three reasons.

First:

The government isn’t just maintaining its focus on existing fintech players, but is even working with students in junior colleges to improve their skills and exposure to fintech. They schools have beefed up their curricula in areas that pertain to fintech innovation such as software and app development and are opening up internships and joint projects in the fintech sector. Fintech industry leaders are also being actively courted to share their knowledge in schools and mentor students.

Second:

Singapore also has a unique environment for incubating fintech ideas. There are nearly 200 global banks with regional or operational headquarters in Singapore and a highly educated skilled labor force. Singapore also is known to adopt technology innovation quickly since it has one of the highest internet and 4G smartphone penetrated populations in the world.

Last but not least:

The government support of fintech doesn’t just stop at the formation of a special agency, but there is a very clear regulatory (regtech) environment and legislative support for financial innovation.

Find out more here.

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