SGX and HSBC’s DLT Project Bags Financial Services Award by SwissChamby Fintech News Singapore December 8, 2020
Singapore Exchange (SGX) and HSBC have jointly emerged as the winner for the Financial Services category at the inaugural Digital Transformation Award (DX Award) at this year’s SwissCham Business Excellence Awards.
SGX and HSBC received the award for creating a distributed ledger technology-enabled financial market infrastructure.
There were a total of 43 applications across five subcategories; Financial Services, B2B, Advanced Manufacturing, Product Digitalisation, and Process Digitalisation.
Shine Precision received the overall award and won the Advanced Manufacturing subcategory. Meanwhile Firmenich, SWAT Mobility, and Taiger were announced as the winners for the B2B, Product Digitalisation and Process Digitalisation subcategories respectively. The winner of each subcategory pitched at the Final Pitch Night.
DX Awards was initiated by SwissCham in collaboration with Deloitte and sponsored by the Economic Development Board, Zuhlke, DKSH, and Crealogix. Supporters include Enterprise Singapore, EuroCham, French Chamber Singapore, and the German Chamber of Commerce who have made the DX Awards possible.
The DX Award serves as a platform for multinationals, SMEs and startups in Singapore to showcase their digitisation efforts in the ASEAN region and recognise organiations’ achievements in entrepreneurship and digital transformation.
The aim of the award is to present best-in-class digital transformation initiatives, such as creating new ways of operating and growing businesses through cloud, mobile, big data and AI, blockchain or the usage of other enabling technologies.
The process kicked off with a closed-door selection, across 7 pitching nights, which lasted from 30th September to 19th November 2020. Below are the winners of all the subcategories:
SGX and HSBC – Winner of Financial Services – Creating Distributed Ledger Technology-enabled Financial Market Infrastructure
The digital asset issuance platform is a fully integrated infrastructure that connects ecosystem participants such as issuers, arranger banks, investors, legal counsel, settlement and custodian banks. This platform achieves objectives of automation and simplification around end-to-end bond issuance and servicing process flow. The capabilities of this platform can be further extended to support multiple asset classes and interface with upstream platforms and payment rails.
Shine Precision – Winner of the Advanced Manufacturing subcategory and overall Digital Transformation Award
Under the Industry 4.0 initiative, Shine conducted a detailed study on production facilities and processes. Realising the importance of improving process capabilities and efficiency, Shine introduced the OEE system for CNC milling and turning machines on the shop floor, setting up a robotic cell to automate material handling, installing solutions that facilitate efficient tool retrieval, and adopting a cloud-based HR app.
Firmenich – Winner of B2B – Interactive Research Intelligent System (IRIS)
IRIS is a digital tool developed for Firmenich Consumer Insights (CI) and sensory communities across regions to manage quantitative tests from conception to the final report. IRIS lets CI and sensory teams leverage on consumer and sensory data to save time, simplify processes, explore findings and present results. This digital tool is designed as a mobile application that enables the execution of consumer and sensory tests and the presentation of reports to customers using smart devices powered by iOS and Android.
SWAT Mobility – Winner of Product Digitalisation – Accelerating Mobility
By having a technology solution for large scale employee transport, employees only need to book their ride on the app. Within minutes, SWAT Mobility’s routing engine can effectively plan the routes and assign vehicles, all within service parameters.
Taiger – Winner of Process Digitalisation – Take the pain out of document reading permanently
According to IDC, 80% of data enterprises deal with on a daily basis is complex and unstructured. Unfortunately, today’s automation isn’t good enough, and enterprises rely on humans to read, process, and validate documents instead of freeing them to do more high-value and fulfilling work. Taiger is on a mission to change that by teaching machines to read as humans would.