Mphasis and Monetary Authority of Singapore (MAS) Discuss Growth Opportunities in FinTech at Building Global FinTech Connections: Singapore with San Francisco Event

Top Quote Attending organizations included Wells Fargo Startup Accelerator and PayPal, among many others. End Quote
  • San Francisco, CA (1888PressRelease) July 07, 2018 - Mphasis (BSE: 526299; NSE: MPHASIS), a leading IT solutions provider specializing in cloud and cognitive services, organized ‘Building Global FinTech Connections’ in partnership with the Monetary Authority of Singapore (MAS), The Association of Banks in Singapore (ABS) and SingEx Holdings (SingEx) on June 26th at Terra Gallery in San Francisco.

    The event attracted hundreds of Silicon Valley-based startups to network with banking, financial services, and Insurance (BFSI) enterprises to discuss the latest developments from the evolving Singapore FinTech ecosystem.

    The event opened with remarks by Dinesh Venugopal, President, Mphasis Direct and Digital and Ravi Menon, Managing Director, MAS, and featured industry insights from major industry players such as Google Cloud AI Platform, PayPal APAC, Wells Fargo Startup ‘Accelerator’ and IBM on how the public and private sector are working together to develop FinTech opportunities between Singapore and San Francisco.

    Discussions throughout the evening ranged from the rise of FinTech in Singapore, in-depth perspectives on Artificial Intelligence and overall investments and partnerships with emerging startups.

    A featured panel exploring “The Growth Opportunities in Asia” outlined how an ecosystem of diverse players competing and collaborating can foster a smarter financial center to optimize a more secure environment, a web of international links to promote the exchange of ideas and a conducive regulatory environment to scale solutions. This idea of an open architecture economy enables connectivity and innovation, while also reducing costs and risks.

    “Experimenting with Mphasis Sparkles Lab, our startups’ platform to showcase innovative solutions to large enterprises, we have found that the pace of technology adoption and its disruption to various industries is immense. The global Fintech ecosystem has come to an exciting standpoint. This event allowed open and in-depth discussions on innovation, investments and where the industry is headed among major players and rising start-ups,” said Mr. Venugopal.

    The ‘The AI Reboot’ fireside chat segment discussed Artificial Intelligence’s influential role in information technology, how Artificial Intelligence works cohesively with the humans rather than replace them, as well as past and present changes, concerns and future applications for artificial intelligence’s role in the FinTech ecosystem.

    The event also featured a preview of the upcoming Singapore FinTech Festival, which MAS is organizing in partnership with ABS and in collaboration with SingEx this November. In 2017, the Festival attracted more than 30,000 attendees from over 100 countries.

    “Technology offers a way to not just reduce cost and increase efficiency, but also to do it in a way that minimizes risks, which is one of the central challenges that all financial institutions deal with,” said Mr. Menon, at the event. “This is why MAS is excited about the FinTech agenda as Singapore looks to the industry for new sources of growth.”

    About Mphasis
    Mphasis (BSE: 526299; NSE: MPHASIS) applies next-generation technology to help enterprises transform businesses globally. Customer centricity is foundational to Mphasis and is reflected in the Mphasis’ Front2Back™ Transformation approach. Front2Back™ uses the exponential power of cloud and cognitive to provide hyper-personalized (C=X2C2 TM=1) digital experience to clients and their end customers. Mphasis’ Service Transformation approach helps ‘shrink the core’ through the application of digital technologies across legacy environments within an enterprise, enabling businesses to stay ahead in a changing world. Mphasis’ core reference architectures and tools, speed and innovation with domain expertise and specialization are key to building strong relationships with marquee clients. Click here to know more.

    For further information, please contact:
    Deepa Nagraj | Mphasis Corporate Communications
    deepa.nagaraj ( @ ) mphasis dot com
    +1 (347) 268-0661 | +1 (646) 424-5160 | +91 9845 256 283

    Sumana Bhat | Mphasis Corporate Communications
    Sumana.bhat ( @ ) mphasis dot com

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