A Glimpse into the World of FinTech Accelerators?The Open Vault at OCBC

Financial technology (FinTech) has been garnering increased attention in recent years. The financial services industry that provides various types of financial, banking, and insurance services to customers (both individual or corporate) is showing more interest in adopting technology to innovate and grow. Technology, especially information systems, is not alien to this industry. According to the work of Garbade and Silber, telecommunication was first introduced into bank markets back in 1846. This helped reduce stock price differentials between New York and geographically dispersed regional stock markets. Similarly, the introduction of the transatlantic cable in 1866 enabled a securities trade originating from the United Kingdom and destined for the U.S. market to be completed in one day rather than the usual six.