Welcoming a record-breaking 66,000 participants, 970 speakers, and 700 exhibitors, Singapore Fintech Festival 2023 brought together some of the biggest names in the banking and fintech industry.
With so many notable industry leaders in attendance, we were thrilled to have the opportunity to share ideas with esteemed banking and finance professionals from all over the world. Real-time cross-border payments are very much at the forefront of improvements to financial services infrastructure in this region of the world, so our payments experts were delighted to share how Dandelion is leading the way with the world’s largest real-time, cross-border payments network.
While the primary theme of the event revolved around artificial intelligence and quantum technologies, the panels managed to cover a wide range of topics. Here are a few highlights from those stimulating conversations:
1. Mitigating Risks in the Digital Economy
The number of global economies examining and testing digital money is growing year on year. While this upward momentum presents many exciting opportunities, a few panels warned that the move to digitization brings with it new risks to data privacy and consumer financial protection.
To adequately address and minimize these potential security hazards, several solutions were suggested, including enabling multi-factor authentications. However, panelists were quick to reiterate that the implications of digital currency are still unknown, so caution was advised.
2. Reshaping the Digital Public Infrastructure
A heightened awareness of possible cyber risks isn’t the only thing this shift toward digital money calls for. Speakers at the “Next-Generation Digital Public Infrastructure” panel indicated that digital public infrastructure must evolve to meet consumers where they are: online.
With more financial transactions being made online, implementing modern, secure, and instant digital payment systems has become a must. Not only do virtual payment channels, like mobile wallets, allow users to transfer money online safely and conveniently, but they also empower businesses to reach new customers and markets.
3. Enabling & Scaling Instant Cross-Border Payments
Digital payment channels can come with the added benefit of enabling real-time cross-border payments. However, despite technological advancements, sending money abroad can still be incredibly time-consuming and expensive. To improve the speed and cost of cross-border payments, panelists say connectivity is key.
During his keynote address, David Messenger, CEO of PingPong, discussed how to enable and scale instant cross-border payments and emphasized the importance of developing relationships with global network partners.
Dandelion’s broad and interoperable network with direct-to-local connections is built to make real-time cross-border payments easy. Over 35 years, we’ve built local connections across 190+ countries. Find out more about our global network of bank, cash pickup, and mobile wallet connections here.
SFF built opportunity into every corner, hosting five thematic zones (Technology, Founders, ESG, Talent, and Regulation) for attendees to explore the stages that spark their interest most, discovering new trade insights and technology along the way. Between After Hours at Club Street and the Innovation Lab Crawl, this conference had no shortage of activities that attendees could leverage to exchange new ideas, broaden their network, and forge invaluable connections with other top-level professionals in the field.
We are proud to be a part of the SFF community and are looking forward to the conversations and connections that Singapore Fintech Festival 2024 will bring already.
Interested in learning more about Dandelion, the largest real-time, cross-border payments network in the world? Reach out to us here.
