The Monetary Authority of Singapore (MAS), Deloitte and S&P Global Market Intelligence have collaborated to develop a prototype for an industry-wide FinTech Research Platform to help investors and financial institutions connect with FinTech start-ups that they can partner with or invest in.
Deloitte’s internal analysis discovered that investors and financial institutions currently do not have access to reliable and up-to-date company information of FinTech start-ups and have to rely on informal networks to source investment opportunities. This limits their view of all the companies in which they might deploy capital.
The digital FinTech Research Platform is designed to help:
- Increase transparency by providing a comprehensive view of FinTech companies, including their attributes on business models, use cases, funding, and technology stack.
- Enhance investors’ confidence in FinTech companies through transparency of aggregated third-party and self-reported data, clearly showing the source of each data point.
- Accelerate decision-making by allowing users to compare FinTech companies easily on one platform and prioritise the FinTech firms that they can potentially work with based on parameters that matter most to the users.
MAS, Deloitte, and S&P Global Market Intelligence will continue to explore opportunities to develop the platform further.
Sopnendu Mohanty, Chief FinTech Officer, MAS, said, “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 [1] 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.”
[1] API Exchange (APIX) is a global cloud-based platform with three distinct value propositions: (i) allowing financial institutions and FinTech firms to discover and connect with one another through a globally curated FinTech marketplace; (ii) providing a sandbox environment that is connected to the marketplace, which allows financial institutions and FinTechs to collaboratively design experiments to validate solutions in different scenarios using synthetic data, without the need to invest in expensive infrastructure to test and adopt solutions; and (iii) facilitating financial institutions’ adoption of APIs to deploy new digital transformation solutions that can drive financial inclusion across ASEAN and beyond. Find out more on www.apixplatform.com.
