May 17, 2020

World’s largest fintech event kicks off in Singapore

singapore
Fintech
Singapore Fintech Festival
Fintech
Jonathan Dyble
2 min
WuXi Biologics announces third facility, launching in Singapore
The second edition of the Singapore Fintech Festival, now the world’s largest fintech event, is set to take place at the Singapore Expo Halls this wee...

The second edition of the Singapore Fintech Festival, now the world’s largest fintech event, is set to take place at the Singapore Expo Halls this week, between 14-18 November.

The festival will see 25,000 participants from startups, investors, institutions and alike in over 100 different countries coming together to share their ideas on fintech.

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“We are pleased that the Singapore FinTech Festival has grown this year, to become the world’s largest fintech festival,” said Sopnendu Mohanty, Chief Fintech Officer of the Monetary Authority of Singapore (MAS). “It is a synergistic platform for the global fintech community to spark new ideas and gain valuable insights.”

The event has been organised by MAS, the Association of Banks in Singapore (ABS) and SingEx Holdings, with a new feature having been added this year – the Investor summit also known as “Deal Day”.

This new feature will provide an opportunity to locally-based startups to access funding from investors in the aim of promoting innovation within the industry.

“There will be many opportunities for financial institutions and FinTech companies to come together and collaborate on value-adding partnerships,” Mohanty continued. “We are excited to build on the success of the inaugural festival last year, and continue in our efforts to foster a thriving global fintech ecosystem.”

Over 160 industry leaders will be speaking over the course of the conference, including the UN Secretary-General’s Special Advocate for Inclusive Finance for Development, Queen Maxima of the Netherlands, and India’s Finance Minister, Arun Jaitley.

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Jul 7, 2021

ServiceNow pumps millions into EU service compliance

ServiceNow
Compliance
EU
Schrems II
2 min
ServiceNow
ServiceNow has announced a multimillion euro investment in EU services, providing customers even greater trust, choice, and control over their data

ServiceNow, the digital workflow company, has announced a multimillion euro investment to help EU customers meet compliance requirements.

The legal, technical and organisational safeguards will help companies to comply with the the Schrems II judgment and European Data Protection Board (EDPB) Recommendations issued in June 2021.

ServiceNow’s investment means all EU-hosted data will be exclusively handled within the EU, and the cloud-hosted digital workflow provider claims its solution will come “without impact on current delivery and service”.

ServiceNow upgrade: free of charge

There will be no cost for current customers to opt in to the data compliance solution, even though ServiceNow is investing an unspecified multimillion euro sum and hiring more than 80 new staff across the bloc.

Mark Cockerill, vice president legal, EMEA and global head of privacy at ServiceNow, said: “With any regulation change, cloud services companies have a choice. They can adopt a ‘wait and see’ approach or get proactive and help customers and partners innovate. At ServiceNow we are on the front foot, continually investing in our customers, allowing them to operate with the highest level of choice and control over their EU data.

ServiceNow upgrade: ‘peace of mind’

“Our new EU-centric service delivery model will give our current customers and partners peace of mind. For customers and partners operating in highly regulated industries, or in the public sector, or those that have yet to make the switch to the cloud, this model gives them certainty and simplicity when selecting the cloud service that best suits their needs.”

Carla Arend, lead analyst, cloud in europe for IDC, said, “The Schrems II ruling has led European organizations to revisit their cloud-related data protection policies and processes when it comes to international data transfers through cloud services.

“Contractual, privacy, and security safeguards and the assurance that data will be kept and handled in the EU help European organizations to comply with European data protection laws while taking advantage of global cloud platforms. Vendors, such as ServiceNow, that invest to support their customers in response to this ruling are providing essential choice to their customers.”

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