SFA initiates framework to promote partnerships between fintech companies and financial institutions
The Singapore FinTech Association (SFA) has announced the launch of a new framework aiming to promote partnerships between fintech firms and financial institutions.
According to a press statement, this is also part of the support package that was announced by the Monetary Authority of Singapore (MAS) on 8 April 2020 to support financial sectors.
The new framework will include a self-assessment toolkit to help firms identify their maturity and compare it against the minimum requirements. This, in turn, will increase the level of confidence for financial institutions when partnering with fintech companies.
As of late 2019, the region has been home to more than 600 fintech firms.
Mr Chia Hock Lai, President, SFA, said in a statement: “With 80 per cent of Singapore-based fintech firms offering technological solutions to financial institutions, it is a critical skill for them to be competent with the compliance requirements of working with financial institutions.”
“This Digital Self-Assessment Framework will enable FinTech firms to be more effective when collaborating with financial institutions, and giving financial institutions more confidence in the partnership as they accelerate their digitalisation efforts,” he added.
NUHS, Bot MD launch bot to assist in COVID-19 health monitoring
Singapore’s healthcare institution NUHS, together with Artificial Intelligence healthcare startup Bot MD, has launched SGDormBot to monitor symptoms in COVID-19 positive individuals through social messaging apps.
The AI bot has a user-friendly interface which reminds the patients to monitor their temperature, heart rate and oxygen levels. It also sends an instant SMS alert to NUHS clinicians whenever there are abnormal vital signs reported.
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SGDormBot is currently being used by patients in six NUHS managed dormitories across Singapore.
Global gaming company Ubisoft sets up studio in Vietnam
Paris-based video game company Ubisoft, better known for the popular titles Far Cry and Assassin’s Creed, has launched a new studio in Da Nang, Vietnam, according to VNExpress.
The studio will focus on developing instant games and offerings that will not require a download and access via social media.
Currently, the new studio has a team of 40 people and plans to expand to 100 soon.
Ubisoft is also collaborating with local universities to create training programmes, given Vietnam’s reputation for having significant numbers of tech specialists and new IT graduates every year.
“The location is perfect, right between Hanoi and Ho Chi Minh City, so there is this a big talent pool to draw from,” said Ubisoft Da Nang manager, Aurelien Palasse.
Also Read: What Southeast Asia’s gaming companies can do to stay ahead of foreign competitors
“Da Nang also offers a great alternative to much larger cities, with an ideal balance between quality of life and work,” Palasse added.
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