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Financial Data Monitor www.great.gov.uk The UK is home to the largest financial hub in the world, and the most sophisticated and varied FinTech ecosystem. For a global trading hub, choose the UK.
Of equal importance is the behind the scenes work that the UK government undertakes to supporting the sector. Our ‘FinTech Bridge’ policy, the first of its kind, works to reduce trade barriers and facilitate greater cross-border activity in the sector. We’ve built 5 Bridges to-date – with Singapore, Hong Kong, Australia, China and South Korea – designed to foster greater links between government and industry in respective markets. There is still work to be done, but these Bridges set out our aspiration for international collaboration and provide a framework on which we can bring ecosystems together. In the spirit of collaboration, I welcome you to come and visit our UK pavilion during the MAS FinTech Festival – to spend time with the team, with our companies, and with the wider ecosystem at large. We’re excited to find new partners to work with and explore synergies that can lead to the global growth of this sector. We’re excited to share the UK’s expertise in financial services with the world. We’re excited to collaborate.
UK Department for International Trade FinTech Mission, November 2018
Tom Helm is the Head of FinTech at the Department for International Trade. His goal is to support the global growth of UK FinTechs and create a domestic ecosystem where the world’s best FinTechs can flourish; an ecosystem worthy of its title as the global capital of FinTech. He is also responsible for supporting overseas FinTechs to set up and grow in the UK and is the Department’s lead for FinTech Bridge policy. Tomas Helm Head of FinTech (London) Email: tomas.helm@trade.gov.uk Web: www.great.gov.uk
Collaboration is essential to the growth of global FinTech. The language of ‘competition’ and ‘disruption’ must give way to a vision of partnership and integration. Whether large or small, Financial Institutions (FIs) around the world are looking to FinTech to improve customer service, realise efficiencies in daily operations, fulfil their regulatory duties and improve the utilisation of data. Though there is no one-size-fits-all model, collaboration between FinTech and FIs is leading to a gradual democratisation of financial services: empowering greater levels of participation through financial inclusion, improving user understanding, and increasing the options available to consumers, as well as their power to choose between them. Regulators, too, are embracing the need for greater collaboration. The recent announcement of the Global Financial Innovation Network – signed by 12 global regulators, including the Monetary Authority of Singapore – will increase collaboration between regulators on common challenges and questions of policy. The UK’s Financial Conduct Authority, as with many of its counterparts, is forging cooperation agreements with regulatory agencies in other jurisdiction (10, at the latest count), creating a clear framework for knowledge sharing and improved engagement. For FinTechs, closer alignment of procedures and policy will mean less duplicated compliance work and more freedom of movement between markets.
At the UK’s Department for International Trade, we understand the need for global collaboration. Technology crosses borders and so, therefore, should we. During this year’s MAS FinTech Festival, we will be hosting 12 of the UK’s preeminent FinTech companies – a showcase of innovation and excellence, epitomising Britain’s world-class finance offer and demonstrating why there is a global demand for British expertise. These are companies seeking to collaborate, pursuing new partnerships and deals which will simplify internal processes and improve customer service.
All of the UK Department for International Fintech Trade Mission delegates can be found at the UK Pavilion (Hall 4) at the Singapore FinTech Festival 2018.
ClauseMatch is an award-winning London-based RegTech company that aims to automate the entire regulatory lifecycle to help financial institutions ensure and demonstrate regulatory compliance. It is a 2014 graduate of the inaugural Barclays accelerator programme, BBVA Open Talent challenge winner, and is in the top 10 RegTech companies selected by Dow Jones. Compliance, legal, finance, operations and risk departments use ClauseMatch to help automate impact assessments, streamline the implementation of regulatory change and to collaborate effectively on thousands of documents across the entire organisation.
Mission Companies
ClauseMatch Andrey Co-founderDokuchaev&COO Tel: +44 (0)20 3397 7366 Email: Andrey@clausematch.com Web: clausematch.com Twitter: @ClauseMatch Creditscript Justin Farr-Jones Tel: +44 (0) 77333 08750 Email: Justin@creditscript.com Web: creditscript.com Twitter: @CreditScript
Leveraging Artificial Intelligence, Machine Learning and Natural Language Processing, CUBE automatically captures global regulatory data into a vast data lake of cross-border regulatory intelligence that maps onto business taxonomies, identifies which regulations are relevant to your operations, and monitors the compliance status of all policies, procedures, controls and records. Automated alerts signal regulatory changes and enforcements that pose compliance risk to your business, enabling rapid remediation. 2-million staff working in 60 languages across 180 countries consume regulatory intelligence, and manage regulatory change cost-effectively, powered by CUBE.
ComplyAdvantage Lauren Mijatovic Tel: +44 (0)20 7834 0252 Email: lauren.mijatovic@complyadvantage.com Web: complyadvantage.com Twitter: @ComplyAdvantage
We are an investment platform focused on acquiring Fintech originated loan portfolios in consumer, small and medium enterprises and real estate sectors. All of our loans are originated via multiple digital channels, including marketplace platforms. Our client base includes global institutional credit investors and professional investors seeking access to alternative finance investments. ComplyAdvantage helps firms make intelligent choices when complying with regulations relating to sanctions, money laundering and terrorist financing. We combine Artificial Intelligence and machine learning with industry expertise to allow firms to tailor a risk-based approach to their compliance obligations. Our solutions enable companies to improve how they onboard and monitor clients, screen payments and monitor transactions by reducing false positives and speeding up processes, all delivered by flexible, RESTful APIs.
CUBE’s enterprise-scale RegTech solution de-risks the regulatory change process, across all lines-of-business and jurisdictions, for large financial institutions (banks, wealth and asset managers, insurance).
CUBE David Byron Tel: +44 (0) 7900 241 451 Email: david.byron@cube.global Web: cube.global Twitter: @CUBEGlobal
Currencycloud delivers a Cross Border Payments Platform as a Service. Positioned as a ‘Payments tool box’, their API payment engine fully automates the entire payments lifecycle. Also included is access to multitude of global payment networks and exchange rate providers.
Global Processing Services (GPS) is the issuer processor enabling many of today’s most high-profile fintech innovators and disruptors. It is certified by Mastercard and Visa to process and manage any credit, debit or prepaid card transaction globally. GPS enables the emerging payments industry to deliver breakthrough innovations through a unique combination of proprietary technology, its people and partners.
Digital Shadows enables organisations to manage digital risk by identifying and eliminating threats to their business and brand. We monitor for digital risk across the widest range of data sources within the open, deep and dark web to deliver tailored threat intelligence, context and actionable remediation options that enable security teams to be more effective and efficient. Our clients can focus on growing their core business knowing that they are protected if their data is exposed, if employees or third parties put them at risk, or if their brand is being misused. To learn more, visit www.digitalshadows.com.
The GPS Apex issuer processing offers easy integration with Issuers, Programme Managers, card manufacturers and many other service providers. It has integrated with over 40 issuing banks globally and operates programmes for 100+ clients in 60 countries using over 150 currencies.
Established in early 2012, Currency Cloud is a FinTech company in the heart of London with offices in New York and an RHQ in Singapore coming soon. Today, they work with over 250 enterprise customers and the service has reaches millions of end-users. They currently process nearly 10 million payments totalling over $25B in volume every year, across more than 40 currencies in 212 countries.
Novastone builds privately hosted or on-premise white label messaging solutions for high value client interactions in banks. Novastone’s secure, mobile-centric instant messaging platform is designed for firms that deliver a high-touch, personalised client experience through relationship teams.
Novastone helps transition clients from email while complimenting WhatsApp and WeChat channels to a wholly owned, controlled and compliant platform. It also supports the transition of processes from paper and portals into conversations that realise significant costs savings while improving internal and external collaboration. Novastone has been deployed at banks around the world representing over $4.2T of global assets.
Currencycloud Stephen Lemon, Co founder, VP Corporate Development Tel: +44 (0)20 3597 4810 Email: steve@currencycloud.com Web: currencycloud.com Twitter: @Currencycloud Global Processing Services Neil Harris Tel: +44 (0)7718 162 786 Email: nharris@globalprocessing.net Web: globalprocessing.net Twitter: @GPS_Processor Digital Shadows Lawrence Loh Tel: +65 9762 7007 Email: lawrence.loh@digitalshadows.com Web: digitalshadows.com Twitter: @digitalshadows
Novastone Olivier Adam Tel: +44 (0)7760 888 827 Email: olivier.adam@novastonemedia.com Web: novastone.im Twitter: @novastonemedia
Onfido builds trust in an online world by helping businesses digitally verify people’s identities.
Using machine learning technology, Onfido validates a user’s identity document and compares it with their facial biometrics. The identity can then be cross-referenced against international credit and watchlist databases.
Solidatus provides a flexible end-to-end proof of data lineage satisfying the growing number of regulations requiring full visibility, including BCBS-239 and CCAR. It is designed to support every phase of metadata discovery and analysis to show what and where data is held in an organisation, either on premise or in the cloud. It enables analytic solutions to help a business develop and understand its ROI.
Solidatus is an award-winning data lineage visualisation tool, developed to help organisations to optimise and solve the expensive problem of understanding how data flows through their systems by providing the most intuitive and flexible browser-based solution.
Railsbank help product managers and developers easily integrate global banking into their app or business by using our unique banking and compliance platform and our rich set of super simple APIs. The power of the Railsbank platform is that it enables customers to launch real-money and debit card working prototypes in a few days and MVP products to customers in 1-2 months.
Formed in 2014, White Label Crowdfunding is a SaaS vendor to the peer-to-peer lending industry, with clients in UK, Australia and the US. Clients include www.rebuildingsociety.com, www.marketlend.com.au and www.lendonate.com. The technology is an end-to-end solution for any small business to setup and run a regulated financial services platform, compliant to UK and EU crowdfunding regulations.
Onfido Christian Cadeo Tel: +65 9060 7501 Email: christian.cadeo@onfido.com Web: onfido.com Solidatus Philip Miller Tel: +44 (0)7803 619 445 Email: philip.miller@solidatus.com Web: solidatus.com Twitter: @Solidatus_com Railsbank Nigel Verdon Email: nigel@railsbank.com Web: railsbank.com Twitter: @railsbank White Label Crowdfunding Daniel Rajkumar Tel: +44 (0)113 846 0244 Email: dan@rebuildingsociety.com Web: whitelabelcrowd.fund Twitter: @whitelabelcf
Technology in the UK
Data analysis display www.great.gov.uk Since 2008, investment in the UK Fintech sector has grown by 51 per cent annually, more than twice that of Silicon Valley. For a global trading hub, choose the UK.
Email: david.bartlett@trade.gov.uk
Key Contacts
FinancialDirector, & Professional Services Team
Email: Justinian.Habner@fco.gov.uk
Justinian Habner British High Commission (Singapore)
David Bartlett (London)
Deputy Director,
Francesca McKee British High Commission (Singapore)
Tomas Helm Head of FinTech (London)
Economic Adviser,
Email: Francesca.Mckee@fco.gov.uk
Email: tomas.helm@trade.gov.uk
Disclaimer Whereas every effort has been made to ensure that the information in this document is accurate the Department for International Trade does not accept liability for any errors, omissions or misleading statements, and no warranty is given or responsibility accepted as to the standing of any individual, firm, company or other organisation mentioned. © Crown Copyright 2018 You may re-use this publication (not including logos) free of charge in any format or medium, under the terms of the Open Government Licence. To view this licence, visit: www.nationalarchives.gov.uk/doc/open-government-licence or email: psi@nationalarchives.gsi.gov.uk. Where we have identified any third party copyright information in the material that you wish to use, you will need to obtain permission from the copyright holder(s) concerned. This document is also available on our website at great.gov.uk Any enquiries regarding this publication should be sent to us at Publishedenquiries@trade.gsi.gov.uk.April2018bythe Department for International Trade www.great.gov.uk
The UK’s Department for International Trade (DIT) has overall responsibility for promoting UK trade across the world and attracting foreign investment to our economy. We are a specialised government body with responsibility for negotiating international trade policy, supporting business, as well as delivering an outward-looking trade diplomacy strategy.
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EU.AccordingtoCarolWheatcroft,UK-basedcorrespondentforaSingapore-“BrexitiscausingtheUKmorelikelytoconsidernon-EUmarketsasofferingopportunity,”shesaid.SoutheastAsia,theworld’sthird-economicgrowthcountry’scentralbyend-2020tofast-growingsector.Thee-commercemarket
subscriptions,oftotalretailsales.Inadigitally-savvythepotentialfore-(R&D)tosolvereal-lifeissues.Underthestrongprivate-publicsupportforR&Dmanycross-disciplinarybusinesses.Singapore’sworld’smostinnovativetheworldtosupportgainingground
JacquelineoperationsandworkswithHawksford’shasover20years’severalhundredSingapore-basedfirmsJacqueline’sextensivecareerintheandAsiaknow-how,ouronthegroundinformation.
FEATURE: WHYUKCOMPANIES
FEATURE: decision-makingprocesses?
FEATURE: processes.businesstherelevancy-executivesareoftenvarietyofsources.“FYI”isnowcodefor“SafetoIgnore”,and“Urgent”isnew“Regularwork”.Withadecision-making Communicatingwhat’simportant andduringaboutinter-departmentalfrictionSingapore’sBudget2018medium-sizedenterpriseswithfundingsupportforoff-the-audience-whichiswhyawell-include:•Isthisrelevantfunction?•Istherea“biggercoverage?•Howdoesthiscoverage?•Isthereanynon-mediatorelevant•Howcanintelligence Strategy Acompetitor’s“behind-the-scenes”
FEATURE:
as-a-Service10+yearsofexperienceinSoftware-(SaaS).AcrossAsia-createbest-in-classframeworksforbasedonreal-timeanalysis.Formorecom/sg
scenes”understandthe“behind-the-strategy.start-ups.Orifabrandhassignedshouldbeempoweredtovalue-addbyincludingpotentialnextsteps-resonateshere-andafull-fledgedsolutiontomostencouragingaligningeachdepartment’sthought,turning
Whyit’sGoodforEmployees
Let'sDiscuss...
workforce:allplayingapartinemployees'lives.“employee”andhowtheyareengagedisemergingfromchangesinthesocio-•Weareincreasinglybecomingmorewillnevermeetfacetoface–thewhatitmeansto‘gotowork’•The“freeagent”-Thisemploymentholisticallytoemployees’needsmoretimeonunpaidworkthanmen–familiesaswell–leavinglesstimeforfamilies“ChiefMedicalOfficer”,Givingfathersparentalencouragingleave.Inaddition,organisationtopromote
LET'SDISCUSS... ProductivityPerformance •Increasemaleparticipation•Promotingsenior•Sharingexperiences Policy WhenSource:Mercer’sWomenThrive,Businesses biases•fearingpotentialtrade-offswithotherUsingdataandanalysistouncoverintheorganisation’s•Amulti-stakeholderapproach•Avoidtheechochamber–thisisnotdynamicworking–it’saboutmendynamicworkingintoday’seconomyrequires:•Courageousleadershipatalllevels•Holisticcoordinationandlinkagethattheansweris“yes”.
UnderstandinG AND Prioritising supplement.We'dliketothankthevariousmembercompanies •“MentalResilience:theFutureBarclays’ambitiontobetheSupporttherecruitment,development•Supportandpromotefurtherconversation.
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ManagerThefirmhasalsorolledphysicalorTheSingaporeteamVanitaFulford-Brown
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including:·24/7socialnetworkingcourtesyoftheinternetandworldwide·mobiledevices,whichkeepthem‘wired’bothdayandnight;·fewerplacestoplay,aswehavereplaced‘greenspace’with·less‘hometime’and'familytime'asourtransportsystemsand·theobsessionwiththeevaluationofeducationthroughinallitsbeauty.Providinga‘greenandpleasant'campusgivesacurious,creative,compassionateandhappy-averydifferentmix
meaning“Canwechangeinternationaleducationsothatwenotonlyteachandpurpose?”
youngpeopleasaninevitableconsequenceof‘moderntimes’?
thecontributiontowardtheirhouseandschool.The“doinggood”forschool-itislifelastingandlifechanging.Inansweringthe “yes,depressioninouryoungisaninevitableconsequenceof‘moderntimes’butthatiswhyinnovativeyoungtoflourishandgiveushopefortheir,andour,future”.
registerednon-profitorganisationTheDoyleInstituteofachievingincredible
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:Nomatteraperson’senvironmentsareEqually,itnotuncommon producealso,productive.These“feelgood”chemicalsdonotjustrepeatedlyreleasesdopamine,a“feelgood”intheirdiets.Thatdoesn’tmeanthatwe
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membranegenerate“feelgood”substancesthatsupportproperis“leaky”,meaningtherearemicroscopicfriendlymicroorganisms.Lacto-fermentedfoods(e.g.
“Theteamtheseareallfactorswhich . with“astateofwell-being“ourabilitytodealchallenges” andfamilyThese“challenges”pressures.Ourlevelfactors”,whichfactors”,whichhavesupportaperson’swellbeing. monitored“Itisimportantlabelsuchasbeingandmanagedonaregularbasis.”
References: EducationinIreland,Vol.24No.2(2011),67–75
Onceconsidermentalhealthfirst-aidtrainingtoequipthembeyondtoofferoptionsthataddresstheexpat’suniqueProgram(EAP)alsomakesresourcessuchasin-personorthey’reabroad:theireffortstopromotegoodmentalwell-beingisclosetopre-assignmentscreening,andschemesforbetterwork- andsupport,andon-siteCentraltoDovertrainingregularlyanxiety,self-harmdeathfor10-29ensurestudenttheydonothavelookafterothers.staffextra-curricularrequiresongoing
forlandcanexacerbate–orbringon–depressionandotherreducedmentalwell-being.Whilemostexpatshaverisk-takingmindsets,anunhealthyby-productislesswillingnesstohavehealth-relatedtostress-relatedconcernsbymitigatingthemthrough health,andthebehaviourofthosecopingwithissues.”
Mentalhealthandwellbeing
withinMindfulnessandMentalanindividual’scontrol? choices.‘wellnessleaders’withintheirThe‘integralmindfulness’findingwaysofbuildingwin-wininnerwellbeing,andbecome
detrimentAnunfortunatebikeaccidentgavemefirst-handpeopleaskedifIwasallrightandenquiredaftermywell-productivityandphysicalwell-being,theyaremostlyattentionoftheC-Suite.Mostemployeesarethereforerelativelywell-servedaroundphysicalhealthissues.ofemployees’health.addressthehealthandwell-beingneedsofouremployees.Webrandedtheprogram“HappyFit”andengagedwiththese3datapoints,wewereabletotailorahealthandwell-totheiremployees’mentalhealthasithasadirectlinktoadvisercanprovidethemuch-neededinsightsandthatarecost-effectiveandrespondwelltothespecific
workplace.Aswellasfacingthesechallenges‘athome’,lawfirmsarealsoinbehaviorandpracticethatcanhaverepercussionsforemployees’harmtoanemployee’smentalhealthisrarelycategoricallylegislationresponsibleforprotectingaworker’shealthistheoutcomesincludingdepression,shock,anxiety,fearandpost-weakness.Investmentinemployee’smentalhealthcanhavefarstressbecomessomething,mostlytheyseemwe “Nervesthatfiretogether, ‘lifefightortofleetheresponse.Thisdoesn’tandwecontributetobalance’.
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