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VISION Leading global financial centre in Asia Connect global markets Support Asia’s development Serve Singapore’s economy The financial services ITM focuses on core financial services, which includes banks, capital market intermediaries, fund management companies, and insurance companies, and excludes holding companies (which is included in the national accounts classification of the financial services sector). INDUSTRY TRANSFORMATION MAP FINANCIAL SERVICES Innovation & Regulation Regulation for Innovation with Soundness Facilitate innovative business models using regulatory sandbox Strengthen cyber resilience of financial institutions Adopt technology to simplify financial institutions’ regulatory compliance BUSINESS STRATEGIES Leading international wealth management hub Asian hub for fund management and domiciliation Global forex price discovery and liquidity centre in the Asian time zone Asian centre for capital raising and enterprise financing Full service Asian infrastructure financing hub Leading centre for Asian fixed income Global capital for Asian insurance and risk transfer Jobs & Skills Expand talent pool and deepen specialist skillsets in areas like IT for both new entrants and mid-career PMETs Build pipeline of Singaporean finance leaders through international postings and flagship programmes Reskill and redeploy PMETs through professional conversion programmes Strengthen HR practices through an industry code on hiring and redeployment GROWTH TARGETS (PER ANNUM) 4.3 % value-added growth 2.4 % productivity growth 3,000 net jobs created; additional 1,000 net jobs in FinTech International FinTech Hub Cross-border Collaboration Expand web of cooperation agreements Blockchains Pilots for inter-bank payments and trade finance Venture Capital Ecosystem Deepen and expand FinTech investment Electronic Payments Improve interoperability and increase adoption Digital ID & e-KYC Enhance customer experience and operational efficiency FinTech Talent Upgrade technology skills Enhance connectivity through APIs I n c r e a s e E c i e n c y C r ea t e O p p o r t u n i t i e s M a n a g e R i s k s B e t t e r I m p r o v e L i v e s Open Architecture

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VISIONLeading global �nancial centre

in Asia—

Connect global markets

Support Asia’s development

Serve Singapore’s economy

The �nancial services ITM focuses on core �nancial services, which includes banks, capital market intermediaries, fund management companies, and insurance companies, and excludes holding companies (which is included in the national accounts classi�cation of the �nancial services sector).

INDUSTRY TRANSFORMATION MAPFINANCIAL SERVICES

Innovation &RegulationRegulation for Innovation with Soundness

• Facilitate innovative business modelsusing regulatory sandbox

• Strengthen cyber resilience of�nancial institutions

• Adopt technology to simplify�nancial institutions’ regulatorycompliance

BUSINESS STRATEGIES

Leading international wealth management hub

Asian hub for fund management and domiciliation

Global forex price discovery and liquidity centre in the Asian time zone

Asian centre for capital raising and enterprise �nancing

Full service Asian infrastructure �nancing hub

Leading centre for Asian �xed income

Global capital for Asian insurance and risk transfer

Jobs &Skills• Expand talent pool and deepen

specialist skillsets in areas like ITfor both new entrants andmid-career PMETs

• Build pipeline of Singaporean�nance leaders throughinternational postings and�agship programmes

• Reskill and redeploy PMETsthrough professionalconversion programmes

• Strengthen HR practicesthrough an industry code onhiring and redeployment

GROWTH TARGETS (PER ANNUM)

4.3%value-added

growth

2.4%productivity

growth

3,000net jobs created; additional 1,000

net jobs in FinTech

InternationalFinTech Hub

Cross-border CollaborationExpand web of cooperation agreements

BlockchainsPilots for inter-bank payments and trade �nance

Venture Capital EcosystemDeepen and expand FinTech investment

Electronic PaymentsImprove interoperability and increase adoption

Digital ID & e-KYCEnhance customer experience

and operational e�ciency

FinTech Talent Upgrade technology skills

Enhance connectivitythrough APIs

• Increase E�ciency • Create O

pportunities • Manage Risks Better

• Im

prov

e Li

ves

Open Architecture