Today, financial services activities are characterised by speed and continuous innovation. The ability to leverage infocomm to innovate and create new products, processes and services has become the prerequisite to being a sustainable premier financial centre.

IDA aims to position Singapore as a trusted gateway to the emerging Asian market and an innovative hub for financial services, powered by infocomm. As a trusted gateway, Singapore will be where global financial services institutions manage key knowledge activities and orchestrate the delivery of financial services to serve their regional customers. As an innovative hub, Singapore will be where companies leverage infocomm to develop and deploy innovative financial services to better engage their customers.

Programmes and Initiatives

IDA has put in place several programmes to further entrench Singapore's reputation as a trusted gateway and to create an environment for financial services to test and deploy innovative technologies.

• Next-Generation Electronic Payments
  The Next-Generation Electronic Payments programme aims to drive innovation in electronic payment solutions and encourage the deployment of innovative infrastructural elements that provide convenient electronic payments over different channels to users and businesses.
  
  
• Corporate Financial Information Exchange
  IDA aims to leverage infocomm and new electronic standards in corporate reporting such as the eXtensible Business Reporting Language to streamline corporate financial reporting process, facilitating financial analysis and access to financial information.
  
  
• i-Wealth Management
  IDA aims to encourage the financial services industry to use infocomm to enable online collaboration and data aggregation, so as to achieve a more efficient execution, disciplined risk management and enhanced delivery of wealth management services.

---