This article was first published on The Blueprint by Bluzelle - Medium
Last week was the Singapore Fintech Festival (SFF), the third instance of this annual event that began in 2016. This year it had 40,000 attendees, almost double of 2017. The event also took over four large halls with some amazing booths and showcases. The Bluzelle team was there to experience the whole multi-day event and I was fortunate to get on stage to discuss key aspects of blockchain. The rest of this piece will go over some the key items I took away.
More Tech Than Fin
The big change this year was the dominance of pure tech companies. The big banks and management firms had their booths out and were showcasing products and Proofs of Concepts (POCs) they did over the past year, but the standouts were Google Cloud, AWS and Salesforce. None of those companies would you equate with finance, but they were front and center attracting the largest audiences to their booths. This showed a clear trend in terms of where the innovations are coming for finance.
Payments Were Not Dominating
In most fintech related events, the dominant topic is payments, this includes Money 20/20. But at SFF the four dominating themes were: AI, Machine Learning, Data, Blockchain. Google Cloud and AWS presented multiple ways they can help banks and insurers with their AI and Machine Learning solutions in the areas of identity management, customer services. There were many companies focusing on data analytics and the large banks themselves spoke about delivering data-driven decisions which help the end customer.
Insurance Should Lead in Blockchain Applications
For blockchain the uses cases were in the expected KYC, back-end processing, fund management. I moderated a panel on Smart Contracts for insurance with leaders from AXA, Met Life and Accenture. It was good to hear that all three are still very aggressive on ...
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The Blueprint by Bluzelle - Medium