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A few years ago, several apparently modest start-ups started offering consumers limited online lending or retail-payment services. Known as fintechs, they operated at the margin of the financial sector and didn’t directly threaten established financial-services companies. But, today fintechs are rapidly entering the mainstream, and attracting a growing customer base in the process. Compared to incumbent financial-services companies, fintechs deliver highly focused financial-services applications, often more effectively and less expensively. Their business models are underpinned by a better use of data and frictionless customer experience. So, to what extent are fintechs creating value?  How can traditional financial institutions react to this new environment?  What could disrupt fintech innovators’ road to success? These are some of the questions that will be raised during the roundtable, and discussed with our distinguished speakers:

 

  • Mr. Sopnendu Mohanty, Chief FinTech Officer, Monetary Authority of Singapore
  • Mr. Antony Eldridge, Partner, PwC Singapore Financial Services Leader
  • Mr. Jean-Charles Sambor, Director of Institute of International Finance (IIF)
  • Mr. Lawrence Yong, Founder and CEO of Moolah Sense, a Singapore based start-up and a marketplace lending platform that connect SMEs who are seeking short-term business loans from prospective investors.


The roundtable will be moderated by Dr. Patrick Lecomte, Senior Research Fellow at ESSEC Business School

1 Mr. Sopnendu Mohanty  is the Chief Financial Technology (Fintech) Officer of the Monetary Authority of Singapore (MAS). He is responsible for creating development strategies and regulatory policies around technology innovation to “better manage risks, enhance efficiency andstrengthen competitiveness in the financial sector”. Prior to joining MAS, Mr. Mohanty was with Citibank as their Global Head of the Consumer Lab Network and Programs, which included driving innovation programs and managing innovation labs across multiple geographies globally. Mr. Mohanty has spent 20 years in the APAC region and held various roles in technology, finance, productivity, and business development. He was Citibank’s APAC regional head of Branch operations along with heading the Consumer Innovation Lab in Singapore. He spent a significant time in Japan, where he was Citibank’s Retail Business Development head and also did leadership stints in various functions within operations and technology. Globally, he played a significant subject matter expert role in driving Citibank’s global smart banking program, to transform bank’s physical network to digital first, smart & innovative, client centric and highly delightful customer engagement center. Mohanty has co-authored various patented work in area of retail distribution of financial sector2Having been with PwC in London for over 29 years, with tours of duty in New York, Zurich and nine years in Japan/Asia-Pacific, Mr. Antony Eldridge is now based in Singapore where he is the firm’s Financial Services practice leader. Across Asia-Pacific he also leads PwC’s Banking and Capital Markets practice. He has specialized in Investment Banking since very early in his career, working closely with most of the key institutions in the industry, in both an audit and an advisory capacity. Most recently, Mr. Eldridge was leading the global relationship and service delivery for a major British corporate and investment bank and he also serves a number of major international financial institutions in Singapore. Mr. Eldridge is also a member of PwC Global Financial Services Leadership team. 3Mr. Jean-Charles Sambor is the Institute of International Finance Asia-Pacific Director and based out of Singapore. Mr. Sambor has 15 years of experience in emerging markets research, strategy, portfolio management and risk management. Prior to joining the IIF in 2014, he was Managing Director and Head of Global Emerging and Frontier Fixed Income at Everest Capital.  Before Everest Capital, Mr. Sambor was Senior Vice President of TCW Emerging Markets group in Los Angeles. He was responsible for Asia emerging markets fixed income and currency strategy. Prior to TCW, Mr. Sambor spent 4 years at Societe Generale where he was responsible for emerging market research (Asia and Africa). 4Founder and CEO of MoolahSenseMr. Lawrence Yong is responsible for the strategic planning, overall management, and business development of MoolahSense. More than 12 years in the field, Mr. Yong had worked extensively in the financial services sector, acquiring a combination of front-to-back, buy- and sell-side experiences, particularly in the area of Fixed Income.  Mr. Yong spent the first half of his professional life in Wealth Management, with his last role heading an award-winning investment product team at Standard Chartered Bank. Before founding MoolahSense, he was a Vice President at Macquarie Capital where he was closely involved in developing its sales and structuring business at the Fixed Income division.

MODERATOR

5Dr. Patrick Lecomte is a Senior Research Fellow at ESSEC Business School, Asia-Pacific. He specializes and teaches in real estate finance, and financial innovation applied to commercial real estate. Dr. Lecomte holds a Ph.D. in real estate finance from the University of Paris, an MPhil in land economy from Cambridge University (England), an MBA from Columbia University (USA), and a post-graduate degree from the University of Paris-Dauphine (France).

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