By Jing Weng for Tech in Asia
With the country’s move towards becoming a Smart Nation and a global fintech hub, Singapore has become an increasingly attractive destination as fintech startups’ “preferred gateway” into Asia.
With strong government support, world-class infrastructure and resources available, there is no better time for entrepreneurs to enter the Singapore market. Here are five exhibiting fintech startups who are looking to ride on this wave at Tech in Asia Singapore 2017.
Built by a group of remittance and big data scientists, Wizdraw seeks to help the increasing number of people working overseas in the current global climate. This clever app checks, compares and chooses the best withdrawal location for your remittances. Besides this, the app has other services like financial planning and expenses notification – all specially designed to meet your financial needs.
Socash is the first fintech startup to receive backing from the Monetary Authority of Singapore. The local startup’s technology bodes good news for those who hate waiting in line to draw cash from ATMs or even trying to find one. All you have to do is place an order on SoCash within the bank’s app and you can conveniently pick up your cash at your selected outlet – no machine, card or PIN code involved!
With a multitude of social networking sites out there, there’s a rise in niche sites that cater to specific audiences. In the case of InvestingNote, it was built to connect retail investors in Singapore and the region. Through the site, you can interact and tap into the wisdom of like-minded retail investors as they share market insights and trade ideas on different stocks. It’ll certainly help users make a more informed decision before taking that step to invest!
Invoices with long credit terms are often a common cause of cash flow problems in small businesses. Talad Invoice offers an alternative to unlocking funds by selling your unpaid invoices to investors – all within 24 hours! Compared to the usual credit terms of 30, 60 and 90 days, this shorter lead time helps to reduce the constraints faced by businesses when they have to meet other expenses such as payroll, project costs and overheads.
Chinese tourists are flocking to Southeast Asia, and they’re also one of the largest spenders in the world. For businesses hoping to capture a share of the Chinese market, FOMO Pay is the startup to look out for. They help merchants stay ahead of the game by supporting online and offline payments through a wide variety of Chinese-preferred mobile wallets, making it extra convenient for Chinese consumers to spend!