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Interview Singapore, the garden of innovation – exclusive interview with Varun Mittal Friday 22 January 2021 09:34 CET | Editor: Vlad Macovei | Interview Varun Mittal, co-founder of Singapore – The Fintech Nation, reveals what stands behind Singapore’s boom in fintech and regulation What led to Singapore turning into such an attractive hub for the banking and fintech industry and what unique opportunities can be found here, in the context of further developments in Open Banking in Asia? Singapore has what we call ‘kiasu’, meaning ‘fear of missing out’. Singaporeans want to recheck everything and be very cautious about not making any mistakes. But we have turned this ‘fear’ into a strength because, in a regulated industry, that ‘fear’ is a positive. Unlike social media apps, where an error leads to a reset, when it comes to fintech regulation you can’t just make a mistake. The acceptance of the law (or the rules) process is very important. 

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