Singapore has long been known as one of the world's leading financial hubs. Indeed, a survey released in April placed the city-state only after London and New York in the global financial centre ranking. The index, compiled by the London-based think tank Z/Yen Group, ranked 86 financial centres based on a poll of 2,520 industry professionals.
The country is the largest foreign exchange centre in Asia and third largest in the world. It is also the region's leading commodity derivatives trading hub. Today, there are over 7,000 multinational companies and more than 1,200 local and international financial institutions here.
Against this backdrop, Singapore has been the site of various events and shows for various segments of the global financial sector, such as the CAPA Airline Fleet & Finance Summit, the Global Insurance Forum, and Seamless. The events play a critical role for facilitating international collaborations, developing business opportunities and stimulating innovation.
"Singapore is a world-recognised financial hub, and the finance industry is very well supported by the government, coupled with Singapore’s fantastic infrastructure, hotels and event spaces,” said Sharon Roessen, Managing director at Terrapinn Asia. “To run a finance event here is an easy decision."
She noted that as the sector is undergoing significant change, events held here need to reflect these evolving dynamics and keep up to date with the latest developments in the market.
One key trend currently impacting the industry is the emergence of technology startups offering innovative banking and financial services solutions such as crowdfunding platforms. These offer companies access to private investors to borrow money from, and are an alternative to traditional financing channels.
Recognising this potentially game-changing trend, a number of financial technology – or fintech – events have been scheduled in Singapore.
The inaugural Singapore FinTech Festival, for example, was a week-long event in November organised by the Monetary Authority of Singapore (MAS) in partnership with the Association of Banks in Singapore. The festival provided a platform for over 4,000 international attendees and close to 100 speakers and panellists from startups, technology companies, investors, financial institutions, research institutes and innovation professionals to connect and collaborate.