IS419 External FinTech Event
Lim Jie Min
[APECS x Kristal.AI] How will Technology Shape the Future of Finance?
Date and Time: 14 October 2020, 8 PM – 9 PM
Location: Online via Zoom
Overview
Technology is rapidly evolving, and businesses seek to leverage it to bring improved
products and services to customers. The COVID-19 pandemic has accelerated and
reinforced the need for digital services, expediting the transition to online platforms. As the
world of finance is not immune to the waves of technology, Kristal.AI, a digital wealth
manager fintech start-up, organized a panel discussion with distinguished panellists from
four fintech-related companies to gather perspectives on how technology is transforming the
financial sector.
The four panellists were Daniel Koo, representing SMU Asia Private Equity Club; Kenneth
Lou, CEO and Co-founder of Seedly; Arvin Singh, Cofounder and COO from Hoolah; and
Swapnil Mishra, Head of Private Wealth from Kristal.AI as well as an Adjunct Teaching
Mentor at SMU.
The panellists discussed how each of them personally realized that technology was
disrupting the world of finance. In 2015, FinTech Singapore started an accelerator program,
and Arvin was then one of the mentors. He observed that across the value chain—
payments, investments, compliance, ID authentication, insurance, and lending—companies
were starting to either support or potentially disrupt financial institutions.
Venture Capitalists (VCs) have also begun to take greater interest in the space of digital
banks, trading, lending, and personal finance, where new players are constantly emerging.
The pandemic has helped accelerate contactless payment and smart contracts especially in
the world of cryptocurrency and blockchain. The adoption of new technology by many big
mainstream players has created a potential for a new financial system.
Each of the panellists were asked how their companies were leveraging technology to
influence the traditional business model or improve growth. Seedly is one of Singapore’s
largest personal finance communities that strives to help people make smarter decisions in
their personal lives. To Kenneth, finance should evolve in a ground-up way. “It is only when
companies put users first that we can see more improvements,” he observed. “Traditional
companies like banks and insurers tend to think they know all the answers, and they will tell
you what you need to get. Actually, the users and consumers also know what is best for
others.” Seedly leverages technology to gather feedback and advice from the community to
get real reviews, feedback, questions, and answers.
1
Lim Jie Min
[APECS x Kristal.AI] How will Technology Shape the Future of Finance?
Date and Time: 14 October 2020, 8 PM – 9 PM
Location: Online via Zoom
Overview
Technology is rapidly evolving, and businesses seek to leverage it to bring improved
products and services to customers. The COVID-19 pandemic has accelerated and
reinforced the need for digital services, expediting the transition to online platforms. As the
world of finance is not immune to the waves of technology, Kristal.AI, a digital wealth
manager fintech start-up, organized a panel discussion with distinguished panellists from
four fintech-related companies to gather perspectives on how technology is transforming the
financial sector.
The four panellists were Daniel Koo, representing SMU Asia Private Equity Club; Kenneth
Lou, CEO and Co-founder of Seedly; Arvin Singh, Cofounder and COO from Hoolah; and
Swapnil Mishra, Head of Private Wealth from Kristal.AI as well as an Adjunct Teaching
Mentor at SMU.
The panellists discussed how each of them personally realized that technology was
disrupting the world of finance. In 2015, FinTech Singapore started an accelerator program,
and Arvin was then one of the mentors. He observed that across the value chain—
payments, investments, compliance, ID authentication, insurance, and lending—companies
were starting to either support or potentially disrupt financial institutions.
Venture Capitalists (VCs) have also begun to take greater interest in the space of digital
banks, trading, lending, and personal finance, where new players are constantly emerging.
The pandemic has helped accelerate contactless payment and smart contracts especially in
the world of cryptocurrency and blockchain. The adoption of new technology by many big
mainstream players has created a potential for a new financial system.
Each of the panellists were asked how their companies were leveraging technology to
influence the traditional business model or improve growth. Seedly is one of Singapore’s
largest personal finance communities that strives to help people make smarter decisions in
their personal lives. To Kenneth, finance should evolve in a ground-up way. “It is only when
companies put users first that we can see more improvements,” he observed. “Traditional
companies like banks and insurers tend to think they know all the answers, and they will tell
you what you need to get. Actually, the users and consumers also know what is best for
others.” Seedly leverages technology to gather feedback and advice from the community to
get real reviews, feedback, questions, and answers.
1
