Singapore set to step up development of FinTech apps
If Singapore is to maintain its position as one of the top financial centres in the world, it must embrace FinTech, maximise benefits and minimising risks.
Hanoi (VNA) - IfSingapore is to maintain its position as one of the top financial centres inthe world, it must embrace FinTech, maximise benefits and minimising risks, ManagingDirector of the Monetary Authority of Singapore (MAS) Ravi Menon has said.
Menon disclosed a series of strategies andmeasures that MAS has taken or plans to take in order to embrace FinTech.
They include setting an entire building asa FinTech Innovation Centre; linking Singapore's fund-transfer service PayNowwith Thailand's corresponding service PromptPay; and launching collaborationwith the Massachusetts Institute of Technology, among others.
According to the SingaporeanMinistry of Trade and Industry (MTI), the country’s economy saw a growth of 4.6percent in the third quarter of this year, the high record in the past threeyears.
The surge was buoyed by an increasein production by 15.5 percent year on year.-VNA
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A view of Singapore (Source: CNN) 
