Article: Open Banking: why this risky pursuit is the key to accelerating Fintech innovation

Money, Open Governance

Open Banking: why this risky pursuit is the key to accelerating Fintech innovation

The Fintech landscape in Southeast Asia has grown tremendously over the last 10 years. For one, Open Banking, which was initially perceived as a good-to-have, has now become essential due to many industry factors, such as a booming e-commerce industry and a large growth in cross-border business activities.

Open Banking, in layman terms, is the “opening up” of banks to external vendors and developers. This creates a controlled, and in most cases, regulated access for Third-Party Providers to make use of banking services and customer-permissioned data — services and data which would previously have been siloed behind secured servers and legacy systems.

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Article: Abu Dhabi and Singapore join forces to accelerate smart city development

Cities, Innovation, Open Space

Abu Dhabi and Singapore join forces to accelerate smart city development

Abu Dhabi Investment Office joined forces with Enterprise Singapore (ESG), a government agency championing enterprise development, and its subsidiary IPI Singapore to accelerate smart city development in the emirate. Under the agreement, Singaporean companies will submit solutions to address challenges outlined by the Abu Dhabi-based entities.

Eligible companies will also receive funding from ESG to develop smart city solutions. This will increase “collaboration, connect innovation ecosystems and promote the exchange of knowledge and expertise between both sides”, Adio and ESG said in a joint statement on Thursday.

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Article: How green are electric vehicles really, for a smart city future?

Cities, Innovation, Open Space

How green are electric vehicles really, for a smart city future?

Electric vehicles have been steadily ticking up in consumers’ consciousness over the past few years, and interest in the game-changing automotive technology has been peaking with record EV sales expected this year. In some countries, lawmakers have incentivized EV makers to set up shop there, and of course everyone has heard of Elon Musk’s Tesla.

A big driving factor of the discussion is the reduced environmental impact of electric vehicles. EVs have been positioned as one of the major pillars as urban centers transform into smart cities – primarily in terms of revolutionizing transportation needs in the city. Along with studies into self-driving vehicles and autonomous public trains and buses, electric-powered vehicles are pegged to make traveling around the smart city of tomorrow much more sustainable.

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Article: Singapore is building a ‘forest town’ with abundant green spaces and underground roads

Cities, Energy, Innovation, Open Provisioning, Open Space

Singapore is building a ‘forest town’ with abundant green spaces and underground roads

In an area of Singapore once home to a brickworks and military training facilities, a vision of the future of urban living is taking shape.The country is building what it calls its first smart and sustainable town, promising 42,000 homes in an environment where people can be “at home with nature”.

The Tengah project will consist of five residential districts on the 700-hectare site in Singapore’s Western region. Named Garden, Park, Brickland, Forest Hill and Plantation, the areas are designed to improve residents’ health and wellbeing and give them a better quality of life. How? With smart buildings, greenery everywhere and a prioritization of walking and cycling that routes motor vehicle traffic underground.

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Article: Singapore Deep-Tech Alliance announces XNode-powered venture builder

Innovation, Open Space

Singapore Deep-Tech Alliance announces XNode-powered venture builder

THE SINGAPORE Deep-Tech Alliance (SDTA) has announced the launch of its venture builder, SDTA22. The venture builder is powered by XNode, which is notably Enterprise Singapore’s Global Innovation Alliance (GIA) partner in Shanghai and Shenzhen. According to a statement by SDTA, XNode has its roots in the advanced manufacturing ecosystem in China and works with startup founders to scale and with large corporations to innovate.

Besides establishing the China-Singapore Innovation Launchpad as a GIA partner, the accelerator has partnered with the Australian, Japanese, Korean and Italian governments to form landing pads for international startups to gain access to China.

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Article: What’s next for Open Banking?

Money, Open Governance

What’s next for Open Banking?

Appetite for “Open Banking”, where consumers allow third-party providers to use the financial information held by their bank to inform new products, is growing; Progress in the sector differs by region, but demand for and use of Open Banking services has been further expedited by the COVID-19 pandemic;

To make Open Banking successful and sustainable, however, more banks need to embrace an end-to-end digital architecture. In recent years, technology has facilitated a progressive opening up of the banking industry. It has ushered in an era of collaboration not just competition between incumbent banks and fintech.

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Article: The role of smart buildings in the development of smart cities

Cities, Innovation, Open Space

The role of smart buildings in the development of smart cities

Over half of the global population now lives in cities, with urbanisation on the rise in every continent and figures set to climb close to 70% by 2050.  The demand for buildings and cities to become more liveable, workable and sustainable due to the global push towards net-zero targets, combined with population and urbanisation growth, forecasts that the global smart cities market will be valued at $3.6 trillion by 2025.

Governments across the world in progressive locations from Singapore to Helsinki and Zurich, are also now developing ambitious smart city initiatives to hit their own mid-century targets, as called for by The Paris Agreement. Designated city zones known as Smart Quarters are being developed, and entire smart cities that are truly sustainable are being envisioned, with intelligent buildings, cleaner transportation and infrastructures that serve essential human needs such as security, comfort and connectivity.

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Article: What we can learn from Singapore’s Smart Nation initiative

Cities, Innovation, Open Space

What we can learn from Singapore’s Smart Nation initiative

A smart city is an urban area that uses different types of electronic Internet of Things (IoT) sensors to collect data, using it to manage assets, resources and services efficiently. Smart cities look at all aspects like mobility, public safety, governance and health, improving existing local institutions, digitizing access to employment while maintaining the security of their citizens, and Singapore is a nation that is recognized for its efforts in successfully doing this.

In 2014, Singapore announced its Smart Nation initiative which encourages the use of digital innovation and technology to drive sustainability and liveability. There are three key pillars which support the goals of the initiative: Digital economy, digital government and digital society – where not only the government, but the people and the agencies have an important role to play.

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Article: 3 reasons why Singapore is the smartest city in the world

Cities, Innovation, Open Space

3 reasons why Singapore is the smartest city in the world

Looking at aspects such as public safety, mobility, governance and health, the index measured cities’ performance on maintaining green spaces, improving existing local institutions, and digitalizing access to employment, all while maintaining the security of their citizens.

While there is no universal definition for the term ‘smart city,’ it is a concept that was devised at the advent of the internet of things (IoT). Smart cities are committed to improving the provision and development of urban services through the use of digital technology.

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