The Singapore FinTech Association (SFA) has launched the first country-level FinTech directory in the world. The directory, which is hosted on SFA’s website, provides profile descriptions of approximately 300 FinTech businesses in Singapore – including the company’s background, business model, and funding status. SFA has collaborated with LTP to provide the first batch of information in the directory, using LTP’s MEDICI platform as the source.
The directory is designed to organise and provide a centralised repository of information relating to the Singapore FinTech community. It is free to browse, with data maintained and updated by the FinTech companies themselves. The information provided will support funding activities and help attract talent. According to Daphne Ng, CEO, JEDTrade, a locally-based FinTech “As a startup, we face a range of challenges, including finding the right co-workers. This directory is useful as it allows interested job-seekers a ‘one-stop shop’ to gain direct insight into our business.”
Chia Hock Lai, President of the SFA said, “Singapore has been ranked as one of the top FinTech ecosystems in the world. The SFA believes this directory will be a boon to the investor community worldwide, looking to identify and navigate possible opportunities here in Asia. With the frequent community upkeep, it will be the most up-to-date FinTech directory available.”
“This is a great initiative” notes Amit Goel, co-founder and MD, LTP. “Through our global FinTech research platform ‘MEDICI’, we are very happy to have powered this directory. The MEDICI platform acts as the connective tissue between startups, financial institutions, investors and other relevant stakeholders globally. We are very excited to partner with local ecosystems in taking FinTech forward.”
Sopnendu Mohanty, Chief FinTech Officer of the Monetary Authority of Singapore (MAS), said, “This initiative is an important step in elevating the visibility and improving the transparency of the Singapore FinTech ecosystem. It would facilitate connections between FinTech players, foster greater collaboration, and create business opportunities. The information captured in the directory will also give MAS a deeper understanding of the FinTech ecosystem needs.”
Singapore is ranked third in the Global Financial Centres Index (GFCI), as compiled by the think-tank Z/Yen Group. Deloitte, a multi-national business management consultancy, places Singapore equal to London for top global FinTech hub. The country has identified FinTech as a key part of its strategy to become a Smart Financial Centre.
The SFA has been active since November 2016, hosting a range of events and activities. These include the popular ‘FinTech Titans’ debate series that pitches companies from within the same category against one another. The SFA has also signed memorandums of understanding with institutions of higher learning in Singapore to support job creation at home and with the Copenhagen FinTech Association to boost overseas engagement.