The building blocks of collaboration

Financial services are at crossroads, where incumbent organisations are embracing the changes being accelerated by digital transformation and new entrants. The advantages to collaboration and partnership include a new cultural perspective on innovation, as well as ways to become both more responsive and agile. These financial institutions can benefit from viewing fintech companies as innovative, disruptive businesses from which they can learn from by adopting some of their methods and even partnering with leading fintech firms. Taking these steps could usher in an era where collaboration (not competition) helps spur the growth of both traditional and fintech players– including an improved consumer experience, reduced costs, new opportunities for growth and potentially the ticket to long term survival.

• John Murphy, Chief Executive Officer, Azupay
• Shirish Wadivkar, Managing Director, Global Head, Correspondent Banking Products, Standard Chartered Bank
• Rebecca Martin, Head of Programmes & Strategy, Singapore Fintech Festival