SICC | Singapore International Chamber Of Commerce | Raffles Quay – The voice of international business in Singapore
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13 SEP 2022  |  ISSUE 418

Dear Members and Friends

Your Chamber is very proud to support the Singapore Fintech Festival because we believe in collaborative innovation. There are so many great and successful commercial collaborations between businesses with clunky legacy systems and agile fintech start-ups which leverage each other’s capabilities to improve the customer experience and risk management.

The piece below is from the organizers of this year’s festival. What I think is missing is any focus on organizational culture and sustainability. We all know about the horror stories of toxic workplace culture in too many fintech start-ups. We all know about the huge amounts of energy used to print crypto currencies or run data centres, for example. In today’s world, you cannot be resilient unless you are committed to positive workplace culture and to achieving true sustainability. Both are existential. Do you agree?

Yours faithfully
Victor Mills
Chief Executive


Resilient business models are needed today for FinTech to thrive tomorrow

What if there’s a solution that would boost your existing safety efforts, is accretive to human capital initiatives and ESG’s “S” and “G” pillars?

With persistent economic and non-economic shocks, wild swings in venture capital spending and the surprising collapse of virtual currencies, the FinTech industry is going through a major stress test.

We have entered a new period where companies are being forced to pivot to stay resilient and viable amidst these challenges. However, there is no quick help guide on doing this.

What we need are resilient business models that the FinTech industry can aspire towards and help future-proof against future disruptions. This is not the first global disruption and it will not be the last.

Key questions that need to be collectively explored by the community include:

  • Viability: How are organizations building and redefining business models that can be more resilient to volatile market conditions?

  • Responsible: How are organizations balancing corporate responsibility and profitability in order to achieve greater stakeholder satisfaction and engagement?

  • Inclusive: How are organizations designing inclusive business models that cater to the needs of the unbanked and underbanked?

Fortunately, from 2 to 4 November 2022, the global FinTech community is convening at the Singapore Fintech Festival, to answer these questions and more. Register now to enjoy 20% off conference passes (applicable to existing pass rates) for Chamber members.

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