Over 150 delegates from local and Asia Pacific organizations, including various Fintech start-up companies, attended the Building Fintech Connections: Singapore with Manila event held last 2 July 2018. Quisumbing Torres (member firm of Baker & McKenzie International), in collaboration with Baker McKenzie's Financial Institutions (FI) Industry Group, hosted the forum where open exchanges on the future of Fintech took place. QT Corporate & Commercial Partner, Alain Charles Veloso, served as the event's moderator, while the forum was opened by the Firm's Technology, Media and Telecommunications Industry Group Co-head, Bienvenido Marquez III. TJ Mendoza, head of QT's FI industry group, joined an enriching panel discussion where he provided a legal perspective on the country's Fintech ecosystem.
The event is part of the Monetary Authority of Singapore's (MAS) Fintech Roadshow --- a call to join the 2018 Singapore Fintech Festival to be held in November. This year's conference themes include: Artificial Intelligence, Blockchain and DLT, Future of Banking, InsurTech, Capital Markets, Financial Inclusion, Payments, ASEAN-Regional Connectivity, Cybersecurity, TechRisk and RegTech and Investment.
The program highlight included the presentation of Philippine entries to the ASEAN Pitchfest. Finalists offered a variety of tech solutions to address key local market issues, including financial inclusion, managing investment and payments, and transformation of business models took the stage and were reviewed by a panel of judges, including Stephanie Magnus, Head of Financial Services Regulatory and Fintech Practice of Baker McKenzie Wong & Leow.
Small Group Discussions with the Monetary Authority of Singapore
Prior to the main event, Bien moderated a small group discussion where select representatives from local Fintech stakeholders enjoyed an exclusive audience with Roy Teo, Executive Director, Financial Sector Development Department and Fintech and Innovation Group of the Monetary Authority of Singapore. "We are thankful for the opportunity to obtain firsthand information on how we can leverage on the Singapore’s Fintech environment, as well as the Fintech festival later this year. Roy’s insights on how the MAS works coupled with Stephanie’s guidance on the legal considerations helped bring clarity to our clients on how they can navigate this complex and evolving world," Bien said.
Roy provided a comprehensive discussion on Singapore's Fintech Ecosystem which was followed by an in-depth exchange of ideas and sharing of best practices among the attendees.
"While it is encouraging to see a lot of Fintech innovations across the region, investors should also be mindful of the different approach to regulation of this nascent industry in each jurisdiction." Charles shared.