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The 2023 Echelon Asia Summit is happening at the Singapore EXPO on 14-15 June 2023. Are you a startup founder, investor, corporate, or tech enthusiast? Don’t miss out on one of the most anticipated tech conferences in the region! For more information, visit the official Echelon page.

Financial institutions have existed since time immemorial. With the advent of modern technology, the way people transact has changed significantly, giving birth to automation, digital payments, cyberbanking and the like — ultimately giving birth to what we now call fintech.

Fintech, short for financial technology, refers to the application of technology and innovation to enhance and transform various aspects of financial services. It encompasses a wide range of digital solutions and platforms that provide financial services, including banking, payments, investments, insurance, lending, and more.

Fintech leverages advancements in areas such as mobile technology, artificial intelligence, data analytics, blockchain, and cloud computing to create more accessible, efficient, and seamless financial solutions. By leveraging these technologies, fintech companies aim to streamline processes, improve customer experience, increase financial inclusion, and disrupt traditional financial models.

In Southeast Asia, the evolution of the fintech space has been driven by a confluence of factors, including regulatory reforms, shifting consumer behaviours, accelerated digitalisation by way of recent global events such as the pandemic, and the rise of innovative startups seeking to bridge gaps in the market.

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In recent years, Southeast Asia has emerged as a vibrant hub for fintech innovation, revolutionising the way financial services are accessed, delivered, and experienced. With its burgeoning middle class, rapidly expanding digital infrastructure, and a youthful population hungry for convenient and inclusive financial solutions, the region has become a hotbed of technological advancements, transforming traditional banking and reshaping the financial landscape.

Of course, none of these innovations were spurred on their own. Over the past decades, many trends in the payments space have helped pave the way for fintech to be the booming industry that it is today. Some of these trends include mobile penetration and digital connectivity, smarter regulatory reforms, the boom of e-commerce and other online payment-reliant services, financial inclusions, and emerging markets.

Without any of these things, fintech wouldn’t be where it is today. But as we move forward and explore future possibilities in both fintech and the whole ecosystem that is reliant on it, we must seek the expert opinions of industry leaders to predict, preempt, and prepare for the future of fintech. As we explore the journey of fintech in this dynamic region, we uncover the key trends that have paved the way for its current state and examine the vast possibilities that lie ahead.

Hear it straight from the experts

At the Echelon Asia Summit 2023, we explore these very unique trends that spurred the rise of fintech, the challenges and opportunities faced by the industry, and the exciting possibilities that are still in store — as well as future obstacles that we may have to navigate as we forge ahead.

In a fireside chat entitled, “Evolution of the Fintech Space in Southeast Asia,” we will speak to experts on the matter. One of the globally reputable institutions that will be gracing the 2-day tech conference is Spenmo.

Spenmo is an all-in-one payables software that provides businesses with visibility, comfort, and control over how, when, and why money is leaving the company. It is the market-leading payments software for growing businesses that brings spend management, corporate cards, automated bill payments, approval workflows, and accounting reconciliation into an integrated view. 

Spenmo has raised over US$36M in venture capital with support from top-tier investors: Y Combinator, Insight Partners, Addition, Salesforce Ventures, Alpha JWC, Global Founders’ Capital, Broadhaven, Operator Partners, and Commerce Ventures.

Serving as its CEO and Founder is Mohandass Kalaichelvan whose string of business experience includes serving in the Corporate Strategy department of Grab, the Revenue Management & Finance department of The Kraft Heinz Company, as a Management Consultant at The Boston Consulting Group, and even as an Operations Officer for the Singapore Police Force, among many others. He will be at the Echelon Asia Summit 2023 to share his thoughts, his insights, his experiences, and his predictions regarding the matter.

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Mohandass Kalaichelvan’s expertise not only when it comes to fintech but also in other industries that are reliant on fintech’s capabilities, underscoring the importance of reliable infrastructures that provide the very accessible, efficient, and seamless transacting experience that fintech promises.

Fintech has the potential to reshape the financial industry by democratising access to financial services, improving efficiency, reducing costs, and empowering individuals and businesses with more control over their financial lives. As technology continues to advance, the fintech industry is poised to revolutionise the way we bank, pay, invest, and manage our finances. This is precisely why startup founders, corporates, investors, and other ecosystem enablers need to be equipped with the right tools to properly strategise and map out their infrastructures and hopefully leverage the full potential of fintech services.

Mohandass’ years of experience at Spenmo make him the perfect person to discuss how to go about with those strategies as well as other innovations in the fintech space to anticipate. These innovations include advancements in blockchain and cryptocurrency, the integration of AI and data analytics, as well as expansion into adjacent sectors such as insurtech, wealth management, and financial education — all of which are becoming increasingly important in the region’s growing population.

Joining Mohandass for the session and serving as its moderator is Prahlad Jaya, Co-Founder of kurate, a startup events platform based in Southeast Asia

Echelon Asia Summit 2023

Get to know these experts and more at this year’s Echelon!

Echelon Asia Summit 2023 is happening on 14-15 June, at the Singapore EXPO. Featuring a slew of speakers, exhibitors, business matching sessions, pitching stages, and more, the event enables participants to connect, network, and engage with the larger tech startup ecosystem.

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At the Echelon Asia Summit, participants get the chance to attend a diverse range of sessions, including keynote speeches, panel discussions, and workshops, all exploring exciting topics like AI, blockchain, e-commerce, fintech, and marketing. You’ll also have the opportunity to join networking sessions and meet-ups where you can connect with fellow entrepreneurs, investors, and industry leaders.

To learn more about Echelon Asia Summit 2023 and sign up for the event, visit the official page here.

The post Echelon: Exploring the future of fintech in Southeast Asia appeared first on e27.