December has been a busy but rewarding month for the STACS team as we were joined by friends, clients, and partners at the Singapore Fintech Festival (SGFinTechFest), the world’s largest fintech event which ran from 7–11 December.
In this blog update, we cover some of our key updates from the festival, including showcases in which we collaborated with our clients and partners from leading global financial firms all over the world, and finally our astounding win at the MAS Global FinTech Innovation Challenge Awards 2020.
Singapore FinTech Festival — Mercury Showcase with Digital Co-exhibitor Eastspring Investments, and Project UBIN sharing
STACS is proud to once again be a sponsor of the Singapore FinTech Festival. This year, SGFinTechFest was a unique online-offline hybrid, running 24 hours a day across the globe and combining digital and in-person elements.
Together with Eastspring Investments as our Digital Co-exhibitor, we jointly showcased our award-winning Mercury platform collaboration. We also hosted a panel and live showcase of our Trident platform on the official SGFinTechFest “Project UBIN” channel, led by the Monetary Authority of Singapore (MAS), which was additionally live streamed on our STACS Showcase page.
Project UBIN is now in its fifth phase, and we were delighted to have had the opportunity to demonstrate the functionality of the UBIN payments network, which can be implemented to enable instant Delivery vs Payment for bonds on blockchain. This is achieved through integration with the STACS platform, enabling financial institutions to oversee issuance and lifecycle management of digital securities. Key benefits include reducing settlement cycles, improving efficiencies, and securing the payment process by ensuring significant digitisation of bond purchases.
The Project UBIN panel and live showcase included Deutsche Bank, UBS, and UnionBank of the Philippines. The discussion theme was “Infrastructure Rails to Empower Capital Markets Connectivity & Sustainability”.
Watch our live panel here, now available on the official Project UBIN YouTube channel:
Thereafter, we had the opportunity to showcase live at the Project UBIN booth our Trident platform in a demonstration titled “Powering Sustainability using STACS Blockchain and UBIN Payments Network”, focusing on how our technology achieves #GreenFinTech. The three banks from the earlier panel also joined this demo.
Watch our live joint platform showcase here, now available on the official Project UBIN YouTube channel:
Our Inaugural STACS Showcase Week
In conjunction with SGFinTechFest 2020, we also successfully hosted our inaugural “STACS Showcase”, a series of panels and live platform showcases with many of our dear clients and partners.
Together with more than 40 industry experts from across finance and tech worldwide, we covered paramount topics ranging from Environmental, Social, and Governance (ESG), #GreenFinTech, Financial Inclusion with Distributed Ledger Technology (DLT), Deep Tech, DLT Commercialization, Ecosystem Interoperability, Project UBIN, and more.
Along with Deutsche Bank, UBS, UnionBank of the Philippines, Eastspring Investments, and BNP Paribas, we also jointly unveiled new platform features during these live showcases. This mainly covered Trident and our award-winning Mercury platform. Showcases of the former focused on how the platform empowers institutions to achieve financial inclusion, sustainability, and ESG, while being connected to the UBIN payments network.
Over the course of the week, we were honoured to discuss with and learn from a range of speakers from distinguished companies including: Deutsche Bank, UBS, Standard Chartered, DBS Bank, HSBC, UOB, PwC Singapore, Eastspring Investments, BNP Paribas Securities Services, SWIFT, Accenture, Asian Development Bank, Bank for International Settlements (BIS), Bank of Thailand, CIMB, EFG Bank, Union Bank of the Philippines, Swiss Digital Exchange, Mastercard, Maybank, Amazon Web Services, NCS Group, Dell EMC, Tribe, ISSA DLT Working Group, Singapore FinTech Association, and more.
We would like to express our gratitude to our speakers and everyone who joined in and made this collaborative event both eye-opening and unforgettable. If you missed our event, fret not! The panels and live showcases will be published on our YouTube channel soon.
Subscribe to our channel to be notified on upcoming insightful content: https://www.youtube.com/channel/UCBLuEIAfibAtuM-rr7BBVXw
MAS FinTech Award Winner
Before we close off this blog update, we are proud to announce that STACS has been named a winner of the MAS Global FinTech Innovation Challenge Awards 2020. The theme this year was Sustainability and Green Finance. Supported by PwC Singapore, winners were selected from a total of 326 submissions from across 55 countries. We are honoured to be one of only three winners chosen for the ‘Singapore Founder’ category.
Dubbed the “Oscars of FinTech”, the global grand event was held on Thursday, 10 December at Marina Bay Sands’ Grand Ballroom and streamed live on the SGFinTechFest Investor Summit Global-Common main channel.
Sopnendu Mohanty, Chief FinTech Officer at MAS, said: “The Global FinTech Hackcelerator and the FinTech Awards have served as key platforms to identify and recognise innovative, high quality solutions that are able to address real needs in the financial industry. We are pleased to see this year’s winners demonstrate strong potential in helping the industry tackle these critical issues.”
STACS is immensely proud and grateful to be given this astounding recognition by the industry panel of judges. The award-winning submission was for our asset tokenisation and settlement platform Trident, which we have been collaborating on with multiple leading financial institutions. We look forward to further building on this to better support #GreenFinTech, as emphasised by MAS as a key objective for the future.
During the year, we were also awarded twice the Financial Sector Technology and Innovation (FSTI) Proof of Concept (POC) grant, under the Financial Sector Development Fund administered by MAS. The grant supports innovation in the financial sector. We are proud that the industry and our peers recognise our team’s ability to deliver transformative technology solutions for capital markets.
Our Mercury platform, in collaboration with Eastspring Investments, also won the Gartner Eye on Innovation Awards for Financial Services 2020. We have been shortlisted as finalists for another two awards, and we look forward to being able to share more wonderful news in the beginning of next year.
Thank you for making this past year an eventful one for STACS. Thanks to the collaboration and trust from our clients, we already have a good pipeline of rollouts for 2021. We remain committed to provide Transformative Technology for the Financial Industry, and look forward to expanding our live ecosystem, especially in connection with the theme of ESG and Sustainability. We hope to be able to work more closely with industry leaders like yourself.
STACS is a Singapore fintech development company providing ready platforms that make global markets simpler for financial institutions. STACS is leading the way forward by digitalizing assets, processes and documents using next generation blockchain-based technology. Our clients and partners include global investment banks, national stock exchanges, custodian banks, asset managers and private banks. STACS is a winner of the Monetary Authority of Singapore (MAS) Global FinTech Innovation Challenge Awards 2020, a technology partner of Project Ubin led by MAS, and also a two-times awardee of the Financial Sector Technology and Innovation (FSTI) Proof of Concept (POC) grant, under the Financial Sector Development Fund administered by MAS.