Maya’s Post

With the wealth that is being amassed , and more wealth to come into Singapore, it is very crucial that #artificialintelligence tools should be adopted, deployed and trained to enhanced the overall security of Singapore’s financial systems. I’m motivated and keen to find out how can #artificialintelligence help us safeguard Singapore’s reputation as a financial hub. Here are some of my thoughts on utilizing AI: 🧿Risk Identification and Assessment: AI-powered algorithms can analyze vast amounts of data from various sources, including financial news, social media, and market trends, to identify potential risks and assess their impact on portfolios. Machine learning models can detect patterns and anomalies that may not be apparent to human analysts, allowing for earlier detection of emerging risks. 🧿Risk Monitoring and Mitigation: AI-powered tools can continuously monitor portfolios and markets in real time, providing early warnings of potential risks and enabling proactive risk mitigation measures. AI can also help automate certain risk mitigation actions, such as adjusting portfolio allocations or executing trades based on pre-defined risk thresholds. 🧿Regulatory Compliance: AI can help asset managers ensure compliance with complex and evolving regulatory requirements by automating the monitoring of transactions, identifying potential breaches, and generating reports for regulatory authorities. #Naturallanguageprocessing (NLP) can be used to analyze regulatory documents and extract relevant information, reducing the time and effort required for compliance. 🧿Stress Testing and Scenario Analysis: AI can simulate various stress scenarios, such as market crashes, geopolitical events, or cyberattacks, to assess the potential impact on portfolios and the financial system. This information can help asset managers develop more robust risk management strategies and improve the resilience of their portfolios to adverse events. 🧿Fraud Detection and Prevention: AI can analyze large datasets to identify patterns of fraudulent activity, such as insider trading, market manipulation, or money laundering. #Machinelearning models can learn from past cases of fraud and adapt to new schemes, improving the accuracy and effectiveness of fraud detection. #wealthmanagementsingapore #futureofwealth

The Monetary Authority of Singapore (MAS) released its Annual Report today. Read our report here: https://lnkd.in/gascJS48 As Managing Director Der Jiun Chia noted in the Annual Report Press Conference, Singapore’s financial sector remained resilient in 2023 and has made good progress across the board: 🔺The Singapore asset management industry has continued to grow in breadth and depth over the years. AUM reached S$5.41 trillion as at 31 Dec 2023, a 10% growth from the previous year. From 2018 to 2023, Singapore’s PE and VC AUM grew at a CAGR of 24.6% to more than S$650 billion. Over half of these assets were directed towards supporting the growth of businesses in the APAC region. 🔺Singapore’s corporate debt market has rebounded strongly, driven by increased financing needs from corporates to fund business expansion. The outstanding size of the market registered a 10.5% increase to S$566 billion, with new issuance growing 21% in 2023 to S$230 billion. Sustainable debt issuances grew year-on-year by 7% in 2023, to about S$38 billion. Over S$130 billion of sustainable bonds and loans were issued between 2018 to 2023. 🔺The wealth management industry has also grown in line with the asset management industry. Singapore is a trusted wealth management centre with high standards of regulation and continues to be attractive to global wealth. We will ensure that our processes and regime are supportive, whilst upholding high regulatory standards. 🔺 The insurance sector continued to grow in 2023 with net premiums and total assets for the overall insurance sector increasing by 6.4% and 6.8% respectively.. We expect this growth to continue, with leading insurers, reinsurers and brokers deepening their capabilities and expanding their product range in specialist areas such as cyber and climate insurance, and in insurance linked securities. 🔺 The banking sector growth has remained robust and resilient. Total assets grew at a 5.5% CAGR over 2018-2023. Banks have deepened regional capabilities and resources in Singapore across a number of areas, including capital markets, wealth management, sustainability, as well as technology and innovation. MAS also announced today that we will commit an additional S$100 million under the Financial Sector Technology and Innovation Grant Scheme (FSTI 3.0) 💥 to support financial institutions in building capabilities in quantum and artificial intelligence (AI) technologies; and 💥 to enable the advancement of quantum and AI related innovation and adoption in financial services. More details at https://lnkd.in/gAdAFdGE Cheng Khai Lim Pamela Lee Wee Ling Phua Dawn Chew Meena Chandra Fumin Feng Eugene Leong Sze Liang Lee Shermaine Tay SongBiao Shiao Kai Xiang Teo Candy Ho Shi Min Tan Bey An Lim Zong Yao, David Ong Jaspal Singh Dhillon

Singapore's leaders and systems have demonstrated exceptional foresight and adaptability, ensuring the nation's ability to navigate global challenges and secure prosperity for its people. The emphasis on safe and resilient digital financial services, fair dealing, and building new capabilities in sustainability, AI, and quantum technology underscores Singapore’s commitment to innovation and excellence. The government’s proactive measures, including anti-scam initiatives and the promotion of sustainable finance, position Singapore as a leading international financial hub. The MAS continues to set high standards, ensuring that the nation remains a safe and attractive place for legitimate wealth while upholding rigorous regulatory standards. These achievements and future plans highlight the dedication and vision of Singapore's leaders, ensuring the best outcomes for the country and its people. Newgen Software GovTech Singapore Monetary Authority of Singapore (MAS) Singapore Economic Development Board (EDB) Der Jiun Chia Carrie Tan Gan Kim Yong #PMO

Watch this insightful interview with Bruce Paveley, TymeBank's CTO, as he discusses the journey from start-up to South Africa’s leading digital bank. A fascinating dive into tech innovation and strategic growth. Don’t miss it! #TechLeadership #DigitalBanking #TymeBank #Innovation #TechCentral

A few weeks ago, Nandan Nilekani, the man who spearheaded the ideation and rollout of the game-changing Aadhaar, the 12- digit unique identity issued to 1.4 billion Indians, co-authored a fascinating paper for the Geneva-based Bank for International Settlements—the think tank for central banks. It is on the next innovation—Financial Internet or Finternet— which will integrate global financial systems. At present they operate as silos within respective sovereign borders. Nilekani is proposing they be interlinked by establishing a common protocol that will enable the mantra of interoperability—wherein it does not matter which financial system you or anyone else uses, all of them can talk to each other. Imagine the power the user will wield in this system, including for cross-border transactions. To walk us through this game changing proposal StratNews Global spoke to Rahul Matthan on Capital Calculus. He is a partner at Trilegal and has worked closely with the idea of the Finternet. Nitin A. Gokhale Anil Padmanabhan Surya Gangadharan amitabh revi Subrat Nanda https://lnkd.in/gSK-a9fj

The latest episode of the "Future of Financial Ecosystems" thought leader series is now live. This time, we feature Rajeev Tummala, Head of Digital & Data for the Asia and MENA regions at HSBC Securities Services, alongside our colleague Ruchi Singhal. Tune in as we delve into the strategies traditional banks must adopt to remain competitive, drive innovation, and succeed in the fast-changing financial landscape. #banking #data #bankingecosystems #innovation

Asia’s banking sector is at a crossroads, facing inflation, diverging interest rates, and geopolitical tensions. Meanwhile, fintech innovations in markets like Singapore and Hong Kong are transforming operations and customer engagement. This bulletin reveals how strategic risk management and digital advancements are shaping resilience in this dynamic landscape. Explore the full bulletin for actionable strategies and key insights shaping the future of banking in Asia. #TQV #BankingInnovation #StrategicResilience

How is AI reshaping financial services across Africa? 🌍 Join Heidi Custers on Arise News as she explores the expansion of AI in banking, how tech partnerships enhance banks' competitive edges, and why the rise of African conglomerates could outpace global banks in regional expertise. 📺 Watch the interview: https://lnkd.in/eAkZnRSS

📈 𝗚𝗹𝗼𝗯𝗮𝗹 𝗕𝗮𝗻𝗸𝗶𝗻𝗴 𝗕𝗲𝗻𝗰𝗵𝗺𝗮𝗿𝗸 𝗦𝘁𝘂𝗱𝘆 𝟮𝟬𝟮𝟰 Interface was proud to partner with Publicis Sapient at Money20/20 Europe for the launch of its third annual Global Banking Benchmark Study and spoke with Head of Financial Services Dave Murphy about its findings. “The survey focuses on how to think about solving problems end-to-end. Banks are dealing with legacy issues and taking a customer first view into solving the challenges. The practical application of AI across the banks is a significant theme as they look to automate decision-making and deliver better credit risk models.” Learn more, here https://bit.ly/3Lj3TNy #Money2020Europe #FinTech #Finance

Real-time payments will change the world. The rise of stablecoins and regulatory changes e.g. through instant SEPA are just the start. Geopolitical challenges and the difficult macroeconomic environment are putting additional pressure on existing financial systems, procedures and (slow) technical foundations. Gone are the times of "end-of-day" batch processing. Very soon, money will be moved around the world to put it "to work" just in time. Experts call that: ➡️ Let money follow daylight. Or: ➡️ Just in time liquidity. These ideas afford a whole new level of real-time transparency about cash reserves on different accounts, but also a direct link into business operations: Treasurers must know much more about what is going on in their business to optimise the "flow of money" to where it is needed. This is extremely crucial for supply chain related financial operations: React instantaneously when payments are made or goods arrive. Technology will be a decisive factor for financial players to meet these requirements: ➡️ automation via APIs is a MUST ➡️ real-time approaches will rule ➡️ compliance and risk checks on-the-fly ➡️ digital forms of money are key Very interesting interview for Sibos with Rachel Whelan from Deutsche Bank from the perspective of a global treasurer on these topics: https://lnkd.in/e87ci4hw Banks and other financial institutions need to move and prepare for these developments to stay relevant. That's what we will discuss in our roundtable at Elevandi insights Forum in Singapore in two weeks: https://lnkd.in/e46yd2ct Thanks Tom Menner for this hint. Looking very forward to our panel! cc Manuel Klein Heiko Nix Ravi Patel Stefan Hirzel Maurice Roach #treasury #digitalmoney #stablecoins