Disruptive technologies and digital transformation of the financial services industry in Singapore: Regulatory framework and challenges ahead
This paper seeks to provide a general overview of the impact of new technologies in the financial services industry in Singapore. For that purpose, it starts by emphasizing that technology has always played an important role in the financial industry. However, new disruptive technologies, as well as...
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2021
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| Online Access: | https://ink.library.smu.edu.sg/sol_research/3625 https://ink.library.smu.edu.sg/context/sol_research/article/5583/viewcontent/SSRN_id3741759.pdf |
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| Institution: | Singapore Management University |
| Language: | English |
| Summary: | This paper seeks to provide a general overview of the impact of new technologies in the financial services industry in Singapore. For that purpose, it starts by emphasizing that technology has always played an important role in the financial industry. However, new disruptive technologies, as well as the increasing use of data in the financial services industry, have created new challenges and opportunities for the financial sector. While Singapore has managed to address these challenges by adopting one of the quickest and most innovative and comprehensive responses probably observed internationally, financial markets –and particularly the fintech industry– are constantly evolving. For that reason, this paper concludes by highlighting various challenges and potential reforms to be considered in the future. |
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