What an exciting week for us and the finance industry at the Singapore FinTech Festival 2018!
A report from MAS, the organiser of the event, showed more than 40,000 visitors gracing the Festival. Our booth at the ASEAN Fintech Startup Zone was constantly streaming with people from all over the world, excited to learn about what Peer-to-Peer Lending has to offer for both investors and the underserved SME segment.
Here are some of the highlights:
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Our co-founder, Kelvin Teo speaking on Financial Inclusion
On Day 1 of the FinTech Festival, Kelvin spoke at the Prudential Stage, alongside other ASEAN Fintech leaders on the importance of financial inclusion. Kelvin shared Funding Societies | Modalku’s vision to enable growth across the Southeast Asian region through serving the underserved SMEs. Here’s an infographic summarizing the panel, created by idea ink.
Our Chief Product Officer, Pramodh Rai at the launch of “FinTech: The New DNA of Financial Services” alongside co-authors, Pranay Gupta and Dr. Mandy Tham
“FinTech: The New DNA of Financial Services” is the first comprehensive text on Fintech worldwide which can be read and understood by a wide audience, was officially launched at the SG FinTech Festival. The book covers a comprehensive introduction to understanding the various areas of FinTech and terminology such as AI, big data, robo-advisory, blockchain, cryptocurrency, InsurTech, cloud computing, lending and crowdfunding. The chapter on lending and crowdfunding is co-written by Kelvin and Pramodh.
Modalku, our sister company in Indonesia, won the Microenterprise Fintech Innovation Challenge Award by the United Nations Capital Development Fund (UNCDF) and the Jakarta Pulse Lab UN.
Accepting the award on behalf of the company, Fajar Adiwododo, our VP of Product said:
“There are around 40 million microenterprises in Indonesia. Due to unavailability of data, collateral, credit track records and transactions, many businesses are unable to get access to financial services. Modalku aims to reduce the gap by expanding access to business capital via a digital platform.” The cash prize that comes with this award will help propel our efforts in driving financial inclusion in Southeast Asia. We’re excited!
Our Head of Data Analytics, Benedict Khong speaking on entrepreneurs shaping Asia’s finance industry
Sharing at a panel at the DBS Asia X FinTech Festival Lab Crawl, our Head of Data Analytics, Benedict Khong spoke about Funding Societies’ motivation to create a financially inclusive society in Southeast Asia and make SMEs more bankable. Benedict also spoke about how P2P lending platforms can be complementary to traditional banking services.
Funding Societies was also honoured to be named by Minister of Education, Ong Ye Kung, at the Singapore FinTech Festival.
Speaking on FinTech start-ups spinning offs from Universities, Minister Ong said:
“Another company is Funding Societies – co-founded in 2015 by NUS alumnus Kelvin Teo. Today, it is the leading peer-to-peer financing platform in Southeast Asia. The company has crowdfunded more than S$285 million in loans. In 2018, the company was listed on KPMG’s Fintech100 list.”
Lastly, the team at Funding Societies had a pleasant chat with everyone who visited our booth over the 3-day exhibition. Thanks for making our time so meaningful and memorable.
This conversation is not over – feel free to reach out to us anytime for partnerships, investor and SME financing queries, or just about anything!
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