As one of the leading financial hubs in Asia with high banking penetration, Singapore presents opportunities for fintech innovation to provide enhanced financial services and experiences.

The Fintech Singapore Report 2023 examines the state of the industry in Singapore, noting the government’s pro-innovation regulations and initiatives that nurture fintech startups, along with the active role played by the Monetary Authority of Singapore (MAS) in developing infrastructure and capabilities for emerging technologies.

Key highlights include the evolution of Singapore’s regulatory environment, the establishment of landmark cross-border transaction linkages, developments in the lending and payments landscapes, and the advent of central bank digital currency use cases in the city-state.