Do you want your FinTech business to develop new markets worldwide? A trade show provides a unique opportunity to learn more about the industry in the host country and meet potential clients, partners and investors. The Singapore FinTech Festival is therefore an essential event to keep current on the latest trends in the sector, as well as discover the market in Singapore and, more broadly, in Southeast Asia. With this in mind and building on the success of the first FinTech mission to Paris in early 2018, the Chamber of Commerce of Metropolitan Montreal’s Acclr international trade experts and Finance Montréal are organizing a second FinTech mission to the heart of the city-state from November 12 to 16. Here’s what you need to know about your upcoming business destination.
The Singapore FinTech Festival: An essential business development event
The Singapore FinTech Festival is the largest financial technology event in the world, with more than 30,000 participants, 5,000 businesses and 300 exhibitors from over 100 countries. The Festival is a highly anticipated event within the international FinTech community, providing participants with the opportunity to discover the latest developments in blockchain, insurtech, payments, cybersecurity, artificial intelligence and much more. Festival activities include the AI in Finance Summit, FinTech Deal Day, during which participants can meet investors from all over the world, and Innovation Lab Crawl, where they can visit more than 20 innovation labs.
The event not only allows participants to draw inspiration from what is being done elsewhere, but also encourages them to develop business relationships with major FinTech players.
Singapore’s main draws for the FinTech sector
- Ease of doing business s and English language proficiency 
- Stable political system and one of the least corrupt countries in the world
- Global financial hub
- Deep integration of FinTech into the city-state’s Smart Nation digitization initiative
- Dedicated FinTech team in the Monetary Authority of Singapore (MAS) focused on establishing public/private partnerships to ensure FinTech growth 
- Financial innovation hub implementing, among other things, a sandbox laboratory enabling financial institutions to experiment with new solutions in an environment where regulatory requirements are relaxed
- One of the top 20 global start-up ecosystems in 2017, in 12th place
- One of the top 10 environments where local connectedness is the strongest 
- One of the most important global artificial intelligence ecosystems 
- On average, 53% of Singaporeans using more than one FinTech daily
- A true lab to tackle the Southeast Asian market, as Singapore encourages Canadian businesses to participate in regional value chains
- Malaysia ranks 4th worldwide in financial market development
- Thailand’s 31 commercial banks hold close to USD 700 billion in assets
How to prepare for such a mission
Remember, a trade mission opens far more doors than a conventional business trip. The activities involved, including networking sessions, allow you to meet people (potential clients, partners and investors) who may otherwise be difficult to reach. It is therefore important to thoroughly prepare and plan for your mission.
The Chamber of Commerce of Metropolitan Montreal’s Acclr international trade experts recommend the following:
- Attend the preparation seminar
- Make sure your trade objectives are realistic and keep them in mind
- Once you register, search for contacts in the country where you will be travelling
- Prepare your pitch
Finance Montréal is taking part in this mission to soak up the innovative and creative atmosphere, and draw inspiration to develop its FinTech Station, which officially opens at the end of 2019. Matthieu Cardinal, Finance Montréal’s Vice President, FinTech Development and Corporate Affairs, intends to build strong relationships with members of the international FinTech community, “The Singapore FinTech Festival is a key event for the FinTech community. The team and the invited start-ups will be able to learn about what is being done elsewhere while promoting Montréal and its ecosystem.”