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How Singapore Became and Remains a Fintech Powerhouse

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How Singapore Became and Remains a Fintech Powerhouse

I have heard the saying ‘London is Silicon Valley, Wall Street, and Washington all wrapped into one’ many times, and I like it a lot. It perfectly reflects my own lived experience supporting the countless companies I have worked with over the years. In London, you can literally meet amazingly talented tech people speaking with the world’s biggest financial institutions at a regulatory sandbox hosted by the Financial Conduct Authority (FCA). All in a single day.

And let’s not forget the press – all the world’s top media outlets are in London. The city offers access to the best writers, who seamlessly sell these stories to a population that adopts new fintech at a speed many other nations can’t match. No wonder this great megacity is home to more fintech unicorns than any other nation on earth, bar the US and China – the world’s two biggest economies.

Fourteen years since the launch of Innovate Finance and its support for many of the most successful fintechs in the world – from Revolut and Wise to Klarna and Monzo – there is a lot that the UK can be proud of. But what is intriguing me more these days is what’s happening on the other side of the world.

Folks, I have been blown away by what I am seeing in Singapore, and I’ve been trying to figure out its secret sauce. 5billion over the last five years. It is home to more than 1,600 registered fintech firms, accounting for nearly 60 per cent of ASEAN’s fintech funding and more than half of the region’s deals.


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