Market Overview

Study: Fintech Sector Growing In Singapore

Study: Fintech Sector Growing In Singapore

Employment in Singapore's fintech sector is strong, according to the Fintech Talent Survey 2019, launched by the Singapore FinTech Association and PwC Singapore. 

“As a leading regional financial centre and home to 40% of fintech firms in ASEAN, job prospects in fintech remain strong in the coming years with demand coming from both local firms and international firms that use Singapore as their gateway into ASEAN regions,” SFA President Chia Hock Lai said in a statement earlier this month. 

The average fintech firm in Singapore has 10.8 employees, and the largest subsectors are software and application development and sales, marketing and business development, according to the survey. 

Fintech firms in Singapore are expected to undergo a hiring spree as both the amount of talent number of companies increases, the report said. 

Questions arose whether the existing talent base would be able to address the spike in demand.

Fintech businesses cannot count on foreign talent alone to meet demand, said Wong Wanyi, partner at PwC Singapore. 

"It’s very important for Singapore to continue to train and equip our workforce with the right skills and mindset that will help the industry thrive in the long run." 

Related Links: 

Santander Group Expands Use Of Ripple Payments Technology

CB Insights Looks At How US Banks Bet On A Fintech Future


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Posted-In: PwC Singapore Singapore FinTech AssociationFintech Crowdsourcing General