SOME 167 fintech firms and financial institutions have signed up for digitalisation grants, two months after the government rolled out a S$125 million support package for the industry. Read more at The Business Times.
Financial advising firm Endowus, for instance, has used the funds to adopt digital tools such as Zoom and Castr.io to host webinars, which has helped it reach new customers at a faster rate, according to chief executive Gregory Van.
One of these Industry Pilot projects involve five financial institutions working with Canopy, a data aggregation and visualisation platform, to collect data from multiple custodian banks in a comprehensive and consistent format. Multi-family office L-Bridge Capital is one of the five financial institutions involved in this Industry Pilot. Its chief executive, Yenny Samad-Wong, said: “What this solution will mean to our firm is that our people will be able to spend less time generating customised reports and dedicate more time to navigating clients’ portfolio in such a volatile period.”
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