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The Future of the Singapore FinTech Industry

The Future of the Singapore FinTech Industry

Financial institutions in SG will be exploring bigger and wider digital transformations in 2019 via AI platforms. Artificial intelligence, also known as machine intelligence, is one of the many innovative platforms widely used by financial companies in Singapore because of its vast technology potentialities: can cut costs, provide human and systemic efficiencies, boost customer experience, promote loyalty and returns. (E&T)

AI is no ordinary programming tool that provides answers or results to your issue, rather a holistic tool that performs tasks and thinks like that of a human. It includes planning, understanding language, recognizing objects and sounds, learning and problem-solving. (medium.com)

What exactly is AI doing or will do to the finance industry in 2019? ( (Maruti Techlabs)

Risk Assessment

AI’s very basis is learning from past data that is why it is able to make recommendations for next steps forward, less possibility of mistake and analyzing vast volumes of data; AI has established automation to the areas which require, intelligent analytical and clear-thinking.

Fraud Detection And Management

It has reduced risk conditions that surround the financial processes. Undoubtedly, AI is on top when it comes to security and fraud identification, using use past spending behaviors on different transaction instruments to point out odd behavior, such as using a card from another country just a few hours after it has been used elsewhere, or an attempt to withdraw a sum of money that is unusual for the account in question.

Financial Advisory Services

Robo-advisors are the new financial consultants and we can expect more of them in 2019 as financial institutions see a decrease in rates in commissions on individual investments. Same with bionic advisory, which combines machine calculation and human insight to provide options that are more efficient than what individual components offer.

Trading

Having AI tools to accurately predict the future and determine data anomalies from which trading and investments greatly rely on is a must. These tools can crunch a large amount of data in just a short time and can observe patterns in past data and forecast how the same may occur in the future.

Managing Finance

AI is helping almost every one of us manage our finances. PFM (personal finance management) is one of the latest features of the AI-based wallet, building algorithms to make consumers make smart decisions about their spending.

6 Marketing Moves Singapore Financial Businesses Should Make

6 Marketing Moves Singapore Financial Businesses Should Make

Believe it or not, B2B financial firms’ lead generation campaigns don’t differ from other industries.

In this article, we’ll show you how you can generate leads for your B2B financial establishments and actionable ways of creating new markets.

There are limitless marketing solutions for your business that you can choose from, but here are our best recommendations to help you get ahead in the market.

#1 Invest in an Efficient Lead Generation Program

Being able to connect and sell to the right people or company is key to selling your products or services. When you send out marketing campaigns, you would naturally want them to hit the right target. It merely means that you are reaching the right people in the right industry who can best complement what you are offering.

The easiest way to get leads is to invest in a program that does precisely that. This software will come up with accurate and helpful information that you can use in designing and strategizing your marketing plans.

There are also specialist services available for you to streamline your marketing campaigns and lead generation.

Related: Are Financial Services in Singapore Finally Embracing Outsourced Lead Generation?

#2 Create a Killer Marketing Content for Your Target Market

Nothing beats marketing content that makes a substantial and lasting impact on the clients that you are targeting. Marketing content is not just about enticing people to consider what you have to offer. It is also about making your potential clients want your product even if they don’t need it.

In most cases, you will find that a well thought out content makes a whole lot of difference for clients who are looking for value more than cost efficiency. Of course, you must make sure that your content is truthful about the quality of your product. Otherwise, you might turn off clients and lose them at the same time.  

#3 Optimization

Take advantage of Search Engine Optimisation (SEO) services that will boost your company’s presence online. An SEO specialist would know best how to improve your ranking in various search engines such as Google. This will include identifying possible keywords that your target clients are using when they search for services or products that you provide. The higher your ranking is, the bigger the opportunity for your target market to click your link.

You do not have to be very hands-on in this area. All you need to do is to hire an SEO and CRO specialist that will work on “popularizing” your website. A strong online presence can be one of your most promising strategies in advancing your B2B company.

Related: Hunting for the Best SEO Agency to help you with B2B Lead Generation

#4 Make a Strong Presence on Social Media

Choose a platform that has one of the biggest potentials of connecting you with the right clients – social media! If your business is not yet on social media such as Facebook, Twitter, and Instagram to mention a few, your team must be doing something wrong. Social media is one of the most affordable and easy to manage platforms that can give your product the mileage that it needs in order to penetrate the market.

You can never go wrong when you invest in social media marketing. Aside from being very cheap, you have the potential of reaching millions upon millions of people. For one, should you decide to pay a certain amount to reach your desired demographics, social media sites such as Facebook can narrow them down for you. It is not only pragmatic, but it also saves you and your team a lot of time.

Related: Facebook and Twitter Metrics to Track in 2018 [INFOGRAPHIC]

#5 Create Strong Partnerships

You are better off building alliances rather than isolating yourself from other companies for fear of losing out on them. Collaborative work can go a long way for you and your business. Partnerships and collaborations with other companies can help you get by in this very competitive generation. Instead of going the extra mile to discredit your competitors or get ahead of them, make them your allies by establishing a mutually beneficial professional relationship with them.

#6 Engage in Influence Marketing

Whether you realized it already or not, the truth is, influencers on the Internet can convince potential consumers. From places where they could shop a good pair of shoes, have brunch in, get a good hair trim, to items that will make their faces look younger, influencers are making significant waves for a lot of big companies worldwide, influencers can maker a difference. Also, this is not only limited to consumer goods, a lot of financial institutions actually partner up with celebrities or other influencers to drive growth.

Influence marketing merely is identifying an individual who has a considerable amount of influence over a group of people. At present, a lot of food, travel and fashion bloggers have become influencers online because of the products and services they endorse in their respective social media accounts or websites.

Related: Trends and Updates in the Singaporean Financial Services Sector

At the end of the day, all you need is an actionable plan, a robust sales pipeline, and consistency in your marketing and sales departments to create maximum avenues for the growth of your B2B business.