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The role of the innovation ecosystem: Putting Singapore at the centre of the global digital economy

Explore Singapore's thriving FinTech ecosystem and its remarkable growth over the past 8 years. The digital economy has opened doors for startups, investors, and businesses, allowing them to become global leaders. Singapore's FinTech market, boosted by initiatives like the Financial Sector Technology and Innovation Scheme, has seen substantial progress, with investments hitting a three-year high of USD 4.1 billion in 2022. Despite these achievements, McKinsey predicts a doubling of global FinTech revenue to over USD 400 billion by 2028, signalling ongoing opportunities for growth. 

A recent roundtable discussion at Elevandi Insights, hosted by HSBC and moderated by Ecosystm, delved into key themes such as Singapore's current standing, areas for improvement, and strategies to redefine international growth. The report highlights insights from regulators, banks, investors, and FinTechs, emphasising the collaborative efforts needed to transform Singapore into a global benchmark for a thriving FinTech innovation ecosystem.