Invited by Singapore Government, Ning Tang, Founder & CEO of CreditEase, sat on the Government's International Technology Advisory Panel (ITAP) from November 2018.
The ITAP was set up by the Monetary Authority of Singapore (MAS) in 2016 to advise on international developments in FinTech and how Singapore can harness new technologies to enhance the provision of financial services. Advisors of the ITAP have a two-year term of appointment.
The new ITAP comprises industry leaders from 7 countries including China, US, UK, Germany, Israel, Japan and India. Other than Ning Tang, representatives from Accenture Technology, Deloitte, the Boston Consulting Group, etc. are also on the list.
The MAS has the long practice of inviting global finance experts as its advisors. Past advisors include Mr. Yi Huiman, Chairman and Executive Director of the Industrial and Commercial Bank of China, Mr. Tian Guoli, Chairman and Executive Director of China Construction Bank and their counterparts from HSBC, BlackRock, Blackstone, JP Morgan and Credit Suisse Group.
On 15 November, 2018, the new ITAP held its annual meeting to share and advise on the Fintech development of Singapore. The meeting was also attended by senior MAS officials including Ravi Menon, Managing Director of the MAS and Sopnendu Mohanty, CFTO of the MAS. Chris Colbert, Managing Director of Harvard Innovation Labs, was invited to address the topic of how to create a culture of innovation.
The meeting discussed the opportunities, risks and barriers in the process of opening banking initiatives across the world ; explored the ways regulators should address the ICO market in order to minimize the downside risks; and highlighted the factors contributing to RegTech solutions being successfully deployed.
The ITAP also engaged more than 500 industry professionals, academics and university students over three panel discussions. The discussions explored the leading investors’ outlook about the sectors and companies with the most value, the financial services industry and the tech giants’ way to make the most of data for their customers and shareholders, and the technologies which are likely to change the face of modern finance.
CreditEase is a leading Fintech conglomerate in China, headquartered in Beijing, and specializing in inclusive finance and wealth management, which actively engages with global Fintech innovators through business incubation, commercial cooperation and investment. CreditEase set up its Singapore office in 2014 and obtained the full-service license for asset management, Capital Markets Services License in 2016.