Fintech Nation, The: Excellence Unlocked In Singapore

Singapore's FinTech journey has been a story of relentless pursuit of excellence to build a global financial service hub with limited means and lots of aspirations. The slogan of "Dream big. Start small. Move fast" has rallied regulators, startups, investors, corporates, and everyone else to achieve a common goal. Singapore's national character is built on survival instinct and a distinctive obsession with being successful, driving them to be constantly paranoid and kiasu. This fear is their biggest strength in a regulated industry, pushing them to comply with ever-evolving regulations. The durable social fabric supports an adherence to order and authority, making it a significant asset in developing and supporting a heavily regulated industry like financial services. Singapore attracts people across the region to build their ventures in finance and technology.

Format: Unspecified
Length: 372 pages
Publication date: 30 October 2023
Publisher: World Scientific Publishing Co Pte Ltd

Singapore's FinTech journey has been an extraordinary tale of unwavering pursuit of excellence, driven by the vision of creating a global financial service hub with limited resources and boundless aspirations. The inspiring slogan of "Dream big. Start small. Move fast" has galvanized regulators, startups, investors, corporates, and all stakeholders toward a shared objective. One of Singapore's most remarkable superpowers lies in its national character, rooted in a survival instinct and a distinct obsession with success. Singaporeans, by nature, are known as kiasu, a Hokkien word that translates to a fear of missing out. This kiasu mindset serves as a badge of honor, driving Singaporeans to constantly strive for excellence. It fosters a relentless pursuit of success, instilling a deep-seated belief in meritocracy and a conviction that complacency is an enemy. In a highly regulated industry, fear becomes our greatest strength, pushing us to adhere to a diverse array of ever-evolving regulations. The resilient social fabric supports a strong adherence to order and authority, proving invaluable in nurturing and supporting a heavily regulated sector such as financial services. Singapore's magnetic allure draws individuals from across the region to establish their ventures in the domains of finance and technology. This book takes readers on a journey, tracing Singapore's remarkable journey from 2015 to the present, encompassing the establishment of regional hubs and the globalization of FinTech innovation. The key principles that have propelled Singapore to become a FinTech nation are an unwavering commitment to excellence, known as RFFL (Right First, Fast Later); a unique economic and legal framework termed Singanomics; and an organized and controlled model of new idea development called Garden Innovation. These principles have shaped Singapore's journey and continue to drive its growth as a global financial hub.

ISBN-13: 9789811249150