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On the 16th of August 2017, SVCA Full Corporate members attended an update by MAS on the Singapore FinTech Festival’s Investor Summit “Deal Day”.
MAS’ Chief Fintech Officer, Sopnendu Mohanty, giving a brief of MAS’ initiatives.
Doris Yee, Director of SVCA, prefaced the briefing by touching on the technological boom and bust of the previous decade and the current buzz in the Fintech ecosystem, such as the recent rise in Initial Coin Offerings (ICOs). Hence the need for the VC community to keep apprise of technological trends, challenges and opportunities.
Sopnendu Mohanty, Chief Fintech Officer from MAS, emphasised MAS’ support for the Fintech sector, in particular, startups with a focus on Business-to-Business (B2B) products or services. Singapore, with an open business environment welcomes both foreign and local startups to build a vibrant ecosystem. MAS is also reaching out to counterparts in the region to establish mutual understanding on standards and codes of practice to accelerate the deployment of Fintech in ASEAN. Varun Mittal, ASEAN Fintech Lead from Ernst & Young, briefed investors about the Singapore FinTech Festival’s Investor Summit “Deal Day” and emphasized that measures will be taken to protect the privacy and confidentiality of both investor and investee companies during the entire matchmaking process. The SVCA thanks all members for taking time off their busy schedules to attend the briefing and MAS for providing the venue.