As Singapore and now Malaysia gear up towards their digital banking futures, I wanted to look at the opportunities that digital banks have as they look to avoid the millstones their competition must face. Equally, I wanted to show the challenges and opportunities available to incumbents as they look to create their digital banks or look to evolve their transformation to avoid losing competitive advantage. With close to twenty years' experience in finance, I have seen first-hand the explosion in the numbers of systems used and also the challenges of implementing new systems and updates to existing ones. These problems are the norm not the exception. The good news is that there is a solution, one that offers efficiency of resource, improves transparency and governance.
We are pleased to announce that Solidatus has been selected as a finalist for the Global FinTech Hackcelerator 2019. Having opened an office in Singapore earlier this year, we entered the Local Programme stream and were selected by the Monetary Authority of Singapore (MAS) as a top 10 winner from over 200 submissions across 30 countries. Co-founder, Philip Miller, will pitch our solution during Demo Day on 11 November at Singapore FinTech Festival x Singapore Week of Innovation and TeCHnology (SFF x SWITCH).
We are pleased to announce that Solidatus is the winner of the UBS Future of Finance Challenge Smart Risk Management category. We were chosen out of hundreds of initial applicants to pitch our solution to a panel of senior executive UBS experts. The pitch, delivered by Co-Founder Philip Miller, was selected as the winner from the top 10 finalists in a well contested group.
We're proud to announce that Solidatus has once again been shortlisted for three awards in the A-Team Data Management Insight Awards 2019 alongside some of the largest and best known companies in the field:
“Regulators and industry participants are leveraging data more comprehensively than ever, so it’s imperative that they have the necessary modeling tools to analyse it in order to make informed decisions,” Philip Dutton, Co-Founder of Solidatus.
Solidatus is committed to helping shape the future of data engineering, data management and data governance. Data engineering must evolve if it is to reach its full potential, much like other engineering disciplines have. With the exponential growth in data and the systems that hold it, data management is critical to ensuring standards are defined and structures implemented to support the ever-increasing rate of change. Without control and good governance, the already massively complex interconnectivity of systems will cause organisational paralysis without an urgent paradigm shift.