FINCIRCLE Podcast: Matrix of Innovation with Umang
Our CEO, Umang Moondra, shares his insights on the FINCIRCLE Podcast on the significant impact of innovation on our digital economy. From real-time payments to API, cloud-based technologies, to tech talent in the financial landscape, discover how innovation is fuelling the rise of digital wallets and transforming e-commerce. The podcast also expounds on the importance of collaboration in accelerating innovation and digitalisation in the financial services industry, and how APIX can help address challenges faced by financial institutions through its cross-border, open architecture, collaborative innovation platform.
Continue reading for key discussion points or tune in to the podcast here:
Digital adoption in Asia-Pacific region:
- Innovation in digital economy is critical for businesses in Asia Pacific, with access to advanced technology tools and emergence of digital wallets.
- India is a hub of innovation in FinTech, with UPI leading the way in real-time payments.
- India's central bank launches digital rupee, China expands digital remedy for retail payments, and Hong Kong emerges as major international financial center for RMB.
- Central banks and financial institutions in Singapore are exploring the use of blockchain technology to enhance payment capabilities and settlement processes.
- Japan and Australia/New Zealand are shifting towards cashless societies as well
Innovation in the digital economy
- Umang shared a definition of innovation as a novel and useful product, service, or strategy, and notes that the digital economy is a wide field with different interpretations.
- Innovation is the lifeblood of the digital economy, driving growth, customer loyalty, and operational efficiency.
- There are two common misconceptions about innovation: disruption and sustained innovation.
- Innovation is not just about disruption or technology, but also about changing an organisation's culture.
About APIX's role in accelerating innovation
- The APIX platform was conceived and launched by Monetary Authority of Singapore and IFC, with subsequent commercialisation by investors.The platform accelerates innovation for financial institutions through collaboration with fintechs.
- Industry leaders acknowledge difficulty in achieving digital focus despite spending hundreds of billions of dollars annually.
- Financial Institutions (FIs) seek to collaborate with fintechs through Apex platform to accelerate innovation and digitisation. Innovation leadership and culture.
- APIX's innovation ecosystem, is unparalleled, with 2000+ fintechs from 90 countries and 50 domains, solving over 250 problem statements.
Key to a successful innovation culture
- Empowerment and alignment are key elements of a successful leadership culture, unlocking creativity and progress within an organization.
- Accepting failure as a means to success requires a similar rigor and discipline applied to managing risk in ideas, collaborations, and partnerships.
- Innovation, entrepreneurship, and leadership insights.
- Umang also stressed the importance of treating employees as customers and empowering them to succeed.
Our CEO, Umang Moondra, shares his insights on the FINCIRCLE Podcast on the significant impact of innovation on our digital economy. From real-time payments to API, cloud-based technologies, to tech talent in the financial landscape, discover how innovation is fuelling the rise of digital wallets and transforming e-commerce. The podcast also expounds on the importance of collaboration in accelerating innovation and digitalisation in the financial services industry, and how APIX can help address challenges faced by financial institutions through its cross-border, open architecture, collaborative innovation platform.
Continue reading for key discussion points or tune in to the podcast here:
Digital adoption in Asia-Pacific region:
- Innovation in digital economy is critical for businesses in Asia Pacific, with access to advanced technology tools and emergence of digital wallets.
- India is a hub of innovation in FinTech, with UPI leading the way in real-time payments.
- India's central bank launches digital rupee, China expands digital remedy for retail payments, and Hong Kong emerges as major international financial center for RMB.
- Central banks and financial institutions in Singapore are exploring the use of blockchain technology to enhance payment capabilities and settlement processes.
- Japan and Australia/New Zealand are shifting towards cashless societies as well
Innovation in the digital economy
- Umang shared a definition of innovation as a novel and useful product, service, or strategy, and notes that the digital economy is a wide field with different interpretations.
- Innovation is the lifeblood of the digital economy, driving growth, customer loyalty, and operational efficiency.
- There are two common misconceptions about innovation: disruption and sustained innovation.
- Innovation is not just about disruption or technology, but also about changing an organisation's culture.
About APIX's role in accelerating innovation
- The APIX platform was conceived and launched by Monetary Authority of Singapore and IFC, with subsequent commercialisation by investors.The platform accelerates innovation for financial institutions through collaboration with fintechs.
- Industry leaders acknowledge difficulty in achieving digital focus despite spending hundreds of billions of dollars annually.
- Financial Institutions (FIs) seek to collaborate with fintechs through Apex platform to accelerate innovation and digitisation. Innovation leadership and culture.
- APIX's innovation ecosystem, is unparalleled, with 2000+ fintechs from 90 countries and 50 domains, solving over 250 problem statements.
Key to a successful innovation culture
- Empowerment and alignment are key elements of a successful leadership culture, unlocking creativity and progress within an organization.
- Accepting failure as a means to success requires a similar rigor and discipline applied to managing risk in ideas, collaborations, and partnerships.
- Innovation, entrepreneurship, and leadership insights.
- Umang also stressed the importance of treating employees as customers and empowering them to succeed.