As one of the most popular industries in Singapore, the financial and banking sector is going through a variety of small changes that are designed to push web businesses away from taking customers from their market. Although the majority of these changes might not be discussed by the public, there is much more money being thrown into financial technology startups than there has been in previous years. In Asia alone, FinTech startups raised over $797 million last year. Below are some of the most interesting startups that you’ll hear about from the FinTech industry over the coming years.
1. Call Levels
There’s nothing better than being able to monitor business activity while you’re on the go and Call Levels is a monitoring tool that is designed to keep users up to date with the latest fluctuations in assets and commodities. In the event that you’re interested in investing in financial markets, this is an application that you’ll be interested in using. The best part is that you don’t have to be a veteran to trading as you can simply use it to learn more about how to trade, if you’re a beginner.
According to Tech in Asia, Tradehero is known as one of the single best startups that Singapore has right now. This application gives users the ability to trade in real time with virtual currencies. You can bet on the stock exchange based on real-world data. Considering that you won’t be using your real funds to participate in the trading, it’s essentially a game that can teach you the skills that you need to transform from an inexperienced to an experienced investor. Plus, you don’t have to worry about taking any real-world risks.
Numoni is a company that has designed a product that is said to help people who have less than $2 per day to survive on. Referred to as the “underbanked”, the flagship product that Numoni designed is called Nugen and it is a machine that is similar to an ATM. Users will have the ability to receive money, pay bills, top up their pay as you go mobile phones, and more. Since their beginning in Singapore they have also branched out into the Philippines, Indonesia, Malaysia, and Hong Kong.
If you’re the type of investor that deals exclusively in foreign currencies, then M-DAQ is a program that you will be interested in. The main purpose of the program is to make cross-border security trading more efficient and convenient for users. Investors will have the opportunity to trade any type of currency from their portfolio and not have to worry about the volatility of exchange rates. They do this by locking in the different rates so you will be able to have more faith in your portfolio.
5. Quoine Exchange
As a Bitcoin exchange company that is based out of Singapore, Quoine Exchange offers a variety of different services ranging from trading futures to offering Bitcoin payments. Originally they only worked with Yen, USD, and Euros, but now there are over 8 different currencies that you can use.