The Monetary Authority of Singapore (MAS), Deloitte and S&P Global Market Intelligence have teamed up to develop a prototype for an industry-wide FinTech Research Platform. The platform aims to help investors and financial institutions connect with FinTech start-ups that they can partner with or invest in.
Deloitte discovered that investors and financial institutions don’t have access to reliable and up-to-date company information of FinTech start-ups, therefore they have to rely on informal networks to source investment opportunities.
The new digital FinTech Research Platform will help:
- Increase transparency by providing a comprehensive view of FinTech companies;
- Enhance investors’ confidence in FinTech companies through transparency of aggregated third-party and self-reported data;
- Accelerate decision-making – users will now be able to compare FinTech firms on one platform and prioritise the FinTech companies that they can potentially work with.
Sopnendu Mohanty, Chief FinTech Officer, MAS, commented:
We believe that the deployment of capital in start-ups, particularly those offering business-to-business solutions, can be vastly improved by enhancing transparency and increasing the confidence in data on early-stage companies. We are keen to leverage this platform, and create synergy with the API Exchange that was developed by MAS in collaboration with the World Bank’s International Finance Cooperation and the ASEAN Bankers Association.
We are proud to be part of the MAS’ efforts to improve and accelerate investment in the FinTech sector in the region. The ASEAN region presents ample opportunity for FinTechs to make an impact with their innovative financial solutions. This platform can help to make the investment process more effective so that the countries and their societies can benefit from the progress made,” said Bob Contri, Deloitte Global Financial Services Industry Leader.
Thomas Yagel, Managing Director, Corporates and Governments Segments at S&P Global Market Intelligence added:
Technology and data are fundamental to the financial industry and capital markets. We are very excited to be working with MAS and Deloitte to design a solution that meets a growing market need, and help FinTech companies to unlock opportunities in the ASEAN region.