ROBUST, TRUSTED, AND
PURPOSEFUL FINANCIAL CENTRE
- A DYNAMIC AND PURPOSEFUL FINANCIAL CENTRE
- Attracting Institutional Investors
- Enhancing Risk Management Ecosystem
- Box 1: Insurance Vision 2020
- Box 2: Ongoing Efforts to Develop a Robust RMB Ecosystem
- Enhancing the RMB Ecosystem
- Strengthening Capital Market Linkages and Increasing Product Diversity
- Box 3: Growth of Singapore's International Financial Centre
- Developing Globally Competitive Talent for the Future
- Harnessing Technology and Innovation for Future Growth
A DYNAMIC AND PURPOSEFUL FINANCIAL CENTRE
HARNESSING TECHNOLOGY AND INNOVATION FOR FUTURE GROWTH
Technology and innovation will be a critical driver of financial services growth in the future. Digital and mobile technologies will transform payments channels and enhance customer access to banking and financial services. At the same time, financial institutions will use data analytics and cognitive computing more extensively to better anticipate and meet customer needs, as well as strengthen risk management in an increasingly complex environment.
To promote technology and innovation in financial services, MAS will work with the industry to identify innovative uses of technology to:
- Promote e-trading platforms;
- Enhance payments efficiency; and
- Develop industry platforms or shared service utilities to facilitate information aggregation for data analytics and risk management purposes.
MAS will also engage financial institutions to carry out new product and business development work in Singapore, and test-bed innovative ideas for the Singapore market and beyond.