Fintech and Sustainability: When Responsible Finance Meets Academic Wisdom SWUFE's 7th International FinTech Forum Held in Singapore

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SINGAPORE, Nov. 6, 2024 /PRNewswire/ -- The 7th International FinTech Forum, co-hosted by Southwestern University of Finance and Economics ("SWUFE") and China Construction Bank Corporation Singapore Branch ("CCB Singapore"), commenced on November 5, 2024. The event took place within the 2024 Singapore FinTech Festival's ("SFF") Insight Forum, marking a significant milestone as the only thematic forum jointly organized by a Chinese university and a major Chinese financial institution. This also represents SWUFE's first academic forum held outside of China in recent years. Spanning two days, the forum focuses on the theme "Fintech and sustainability: when responsible finance meets academic wisdom," exploring how universities and financial institutions can leverage their strengths and fulfill their social responsibilities to drive sustainable economic development.

Opening remarks were delivered by Prof. Li Zhisheng, Vice President of SWUFE, Sun Nianbei, General Manager of CCB Singapore, Leong Sing Chiong, Deputy Managing Director (Markets and Development) of the Monetary Authority of Singapore, and Prof. Yin Qingshuang, former vice president of SWUFE. The forum drew more than 100 attendees, including representatives from the Commercial Section of the Chinese Embassy in Singapore, leaders from CCB Singapore, business association executives, academics, investors, and corporate leaders.

The forum focused on FinTech and green finance, bringing together leaders from academia, technology, and investment to share insights. Sir Oliver Hart, laureate of the 2016 Nobel Prize in Economics, delivered a speech discussing the outlook and challenges of CSR and ESG. Pamela Mar, Managing Director of the Digital Standards Initiative (DSI) of the International Chamber of Commerce (ICC) and a Senior Fellow of the Asia Global Institute, provided insights into the digitalization of global supply chains and its positive impact on sustainability.

A roundtable discussion, moderated by Yap Poh Seng, Chief Commercial Officer of CCB Singapore, featured Lionel Wong, Executive Director of Gprnt; Professor Zhao Jingmei, Executive Vice Dean of School of Finance and Director of Fintech Innovation Center, SWUFE; Gu Lingyun, Founder and CEO of IceKredit; and Vinothan Tulisinathzan, Counsellor (Investment) and Director of Malaysia Investment Development Authority Singapore. They shared practical insights and experiences on advancing sustainable development through FinTech across their respective fields. The forum concluded with a showcase session, where three tech companies presented their cutting-edge products and solutions.

At the technology-sharing event, the Fintech Innovation Center of SWUFE, in collaboration with CCB Singapore, launched the pioneering "IBSWUFE Intelligent Collaboration Platform." This FinTech product, developed by Professor Zheng Yu and Professor Xie ZhiLong, represents a strategic alliance between academia and industry, uniting SWUFE's research expertise with CCB's practical banking experience to drive a new era of digital innovation.

Powered by cloud-native technologies, distributed computing frameworks, and large language model engines, the platform integrates a comprehensive suite of collaboration and development tools, serving as a "translation bridge" between business and technical teams. This transformative approach allows business units to swiftly validate and test ideas through cutting-edge digital technologies, enabling streamlined product development, agile cross-functional collaboration, and the creation of a resilient digital ecosystem within the banking sector.

By combining SWUFE's academic leadership in FinTech with CCB Singapore's industry insights, the platform has the potential to set new standards for digital transformation across the banking industry, paving the way for future breakthroughs and redefining the collaborative potential between educational institutions and financial enterprises.

Li Zhisheng, Vice President of SWUFE, remarked, "In recent years, SWUFE has proactively adapted to profound changes in the new economy, emerging technologies, and evolving business models. We have focused on foundational theories, key technologies, and practical applications in FinTech, addressing critical issues in financial technology to advance our 'New Finance' strategic upgrade. This effort aims to empower, enrich, and elevate our financial disciplines. By co-hosting this forum with CCB Singapore, we are spotlighting innovation and green finance on the global stage of the Singapore FinTech Festival. Our goal is to amplify SWUFE's voice, foster discussions on responsible finance, and showcase our commitment to financial technology."

Sun Nianbei, General Manager of CCB Singapore, commented, "Digital finance, Fintech and green finance are important parts of our business strategy for both CCB Singapore and our head office. With a commitment to contributing to a green and digital economy in Singapore, we are glad to join our partner SWUFE and host the Forum at the SFF. We had very meaningful discussions with policy makers, regulators, scholars and the Fintech industry from China, Singapore and beyond, and I'm sure these will lead to more collaborations and more impactful fintech innovations in the future."

Leong Sing Chiong, Deputy Managing Director (Markets and Development) of the Monetary Authority of Singapore ("MAS", Singapore's Central Bank) delivered a welcome address, where he congratulated SWUFE and CCB Singapore for the collaboration in hosting the forum, and welcomed CCB Singapore as one of the pioneer members of the Green Circle, a flagship sustainability ecosystem program initiated by Gprnt.

The 7th International FinTech Forum hosted by SWUFE concluded successfully, showcasing its consistently high standards, innovative themes, and strong international presence. Over the past seven years, the forum has invited Nobel laureates and global industry leaders to address cutting-edge topics, engaging more than 700 distinguished guests and reaching two million participants. By leveraging this global platform—the world's largest FinTech gathering—SWUFE has enhanced its international reputation and brought China's voice to the global stage.

SOURCE Southwestern University of Finance and Economics; China Construction Bank Corporation Singapore Branch