Singapore wants its brightest young students to work in fintech
Singapore may be the largest fintech hub in Asia, but it's not cheap. As firms with presences in the country begin to look for staff elsewhere, the country's financial regulator is calling for a reorganization of its education system to make affordable graduate talent available to top fintechs.
Alvin Singh, deputy director of the Monetary Authority of Singapore, spoke on a talent panel at the 2023 Singapore Fintech Festival. He said that when it comes to talent problems, "either you allow it from a foreign source or you do something about it yourself. "
In Singapore, Singh said, "the talent pool compliments what we are missing," but it's still not sufficient. As the fintech market searches for innovators, he said he wants to "ensure curriculums can be shaped to give academics a starting point in these institutions."
Singh isn't just about the most innovative technologies, though. "Don't discount traditional technology," added Singh. A lot of the exciting areas of fintech like "wealthtechs and insurtechs" run using traditional tech, and many payments systems are on rails.
"The world is your oyster when it comes to fintech" Singh declared optimistically. "Just don't assume your job has to be on the cutting edge." However, he also advises that you "learn about AI and digital assets; it's not going away."
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