Organised by the Monetary Authority of Singapore (MAS), in partnership with the Association of Banks in Singapore (ABS), we can safely say that the inaugural Singapore FinTech Festival was a great success! Apvera participated in several events including the Japan-Singapore Tie up Programme to build a bridge between Japanese and Singaporean startups and to foster faster, more collaborative innovation and market penetration. Sponsored by SPRING Singapore, Singapore-based business accelerator Velocity Accelerator (Velocity), Action Community for Entrepreneurship (ACE) and the Japan External Trade Organisation (JETRO); the week included pitch-practice, mentoring sessions and business introductions to accelerate pan-Asia market expansion.
Duff & Phelps hosted an excellent Global Enforcement Review 2016 Seminar in the China Club. Speakers from Singapore, the USA and the United Kingdom shared the latest news impacting the Financial Services Industry (FSI) including: Anti-Money Laundering (AML), Insider Trading and Worldwide Regulatory response. Notable takeaways included:
- Higher corporate fines for FSI organisations exposed by Insider trading
- Increased focus on individual accountability with more prosecutions and longer prison terms
- This past year has seen Singapore fine/shut down two Swiss banks and incarcerate one high profile individual
Perhaps more interesting, was the prediction that we can expect to see an increase in insider trading, malicious activity through 2017. This was confirmed by some of the top Asian banks remarking they expect reduction in headcount and lower than expected annual bonuses to create some
Following the announcement of Apvera’s successful closure of $1.7M seed funding, we’re well-positioned to help FSIs address the ever-accumulating Cyber Security insider threats and increased regulatory due diligence through our Insight™ 360° Software as a Service (SaaS) solution. Throughout the two day FinTech Festival conference held in Expo halls 1 & 2, we demonstrated Apvera Insight™ 360° to hundreds of interested parties. The feedback was overwhelmingly positive, as attendees from all parts of the world saw how the application of artificial intelligence and machine learning will: predict and identify potential malicious activity; protect financial data, intellectual property and sensitive client data; and will provide real-time due diligence and regulatory compliance. If you’d like more information on how to protect your FSI assets then please contact us at: firstname.lastname@example.org .
Congratulations to everyone involved in organizing and attending inaugural Singapore FinTech Festival 2016. We’ll definitely see you there next year!
Apvera, Inc., a leader in threat intelligence solutions, is transforming the way organizations learn, analyze and engage emerging threats. Through user and entity behavior analytics solutions, Apvera Insight™ successfully detects malicious and abusive activity that otherwise go unnoticed, and effectively consolidates and prioritizes threats identified applying actionable intelligent to prevent risk.