PwC at Singapore FinTech Festival 2019

Connect, Collaborate, Co-create

Singapore FinTech Festival (SFF) continues to be the world's largest FinTech festival and global platform for the FinTech community, attracting more than 60,000 participants from 140 countries. 

PwC Singapore was involved in a number of key events including a joint publication launch, working with various innovators, regulators and financial services across the industry in enabling the future of FinTech.

Watch our video and read more below to find out what we have been up to!

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FinTech in ASEAN: From Start-up to Scale-up

Jointly produced by United Overseas Bank (UOB), PwC and Singapore FinTech Association (SFA), this report explores how ASEAN’s FinTech firms have seized growth opportunities and overcome the myriad challenges to succeed in one of the world’s most diverse regions. This was done via an online survey that was sent to FinTech firms across the ASEAN region in the third quarter of 2019 to gather insights on their efforts in scaling up their operations across the region. The survey findings were complemented by interviews with leading individuals within the ASEAN FinTech community.

Key Findings:

  • Singapore continues to dominate funding among ASEAN countries, receiving more than half (51%) of the region's total funding. The city state also emerged as the number 1 preferred regional base for FinTech firms and is home to 45% of all FinTech firms in ASEAN.
  • Almost 2 in 3 (65%) FinTech firms welcomed the issuance of digital bank licences by Singapore’s central bank as they believe they would be able to seize opportunities to offer innovative solutions and to collaborate with the region’s newly-minted digital banks.
  • Stamina required to overcome long sales cycle - As most corporates tend to require multi-level approvals across different stakeholders, FinTech firms need to have endurance in order to seal the deal. FinTech firms offering business-to-business solutions should therefore ensure that they have a longer funding runway to meet their operating expenses.
  • FinTech firms in ASEAN are generally optimistic about their current and future funding needs, with almost half (45%) of those surveyed confident of raising more than US$10 million for their next funding round. While it can be exciting to see a company’s valuation soar, both Venture Capitalists (VCs) and FinTech firms cautioned against falling into the overvaluation trap.
  • Finding suitable talent was ranked as the top operational challenge faced by FinTech firms when expanding across ASEAN, with close to 6 in 10 (58%) of FinTech firms surveyed indicating that this was an inhibitor to their regional expansion plans.

Explore the findings in the full report

Festival Booth at SFF 2019

It is no doubt that technology is revolutionising the financial services landscape. But how are businesses keeping up with change?

At the booth, we explored the trends and technologies that are driving the future of FinTech and showcased PwC’s line up of digital offerings that focused on the following issues:

  • Turning consumer data into valuable analytics
  • End-to-end supply chain monitoring
  • Digital transformation
  • Regulatory compliance
  • Reimagining the future of banking
  • Expect engaging talks from our PwC subject matter experts who will share their insights on the latest industry hot topics such as digital banking, cross border payment services and more.

FinTech Awards

Organised by the Monetary Authority of Singapore (MAS), the FinTech Awards recognise innovative financial technology solutions that have been implemented by FinTech start-ups, financial institutions, and technology companies. Submissions from all around the world are evaluated based on impact, interoperability, practicality and uniqueness and creativity.

In last year's rendition of the FinTech Awards, we worked closely with our regional counterparts to organise the Asean PitchFest to identify innovative solutions and FinTech talents across Asean countries. We are proud to once again partner with MAS to power this year's awards. Over the years, we have indeed seen a surge in the quality and innovativeness of the submissions, many of which have proceeded with regional expansions.

View the Top 40 Finalists

Lab Crawl at PwC

We hosted the Lab Crawl at PwC to explore a range of technologies and ideas that can enhance business and financial performance and create value for your customers, business and employees. 2019's showcase was held at our South East Asia Consulting Experience Centre, an environment where visionary and immersive experiences that reframe the possible happen.

Deal Fridays

Leading up to the Singapore FinTech Festival 2019, Deal Fridays is a series of curated deal-making sessions designed to facilitate and create investment opportunities for these startups. Each session features a specific industry theme where startups and companies come together for one-on-one conversations on potential partnerships and networking opportunities.

Organised by the Monetary Authority of Singapore (MAS) in partnership with Enterprise Singapore (ESG), we are proud to have hosted two sessions of Deal Fridays -

16 August 2019 - Digital B2B (Early Stage)
18 October 2019 - FinTech Awards Top 40 Finalists

The sessions provided a platform for FinTechs and investors to discuss and share ideas, solutions and challenges faced in the industry. We are happy to be a strategic partner of key initiatives in Singapore that promote investors’ confidence in the FinTech start-up community and support these start-ups in their growth journey.

Check out the other themes of Deal Fridays

FinTech

We envision to equip players in the FinTech ecosystem with the skillset to embrace disruptive technology and enable the future of financial services. Our team provides a wide spectrum of services such as Strategy consulting, Technology consulting, M&A, Data & Analytics, Regulatory Response, Digital Trust, Assurance, Tax and Venture Hub.

Find out more
 


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Contact us

Sam Kok Weng

Sam Kok Weng

Financial Services Leader, PwC Singapore

Tel: +65 6236 3268

Wong Wanyi

Wong Wanyi

FinTech Leader, PwC Singapore

Tel: +65 9842 2060

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