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Economic Affairs

Singapore banks should love and fear fintech

Has fintech reached a tipping point for mass adoption? The Singapore Fintech Festival offers clues.

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Visitors at the Singapore FinTech Festival on Nov 2. Every edition of the festival brings forth new innovations and refinements of old ones.

Visitors at the Singapore FinTech Festival on Nov 2. Every edition of the festival brings forth new innovations and refinements of old ones.

PHOTO: LIANHE ZAOBAO

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I made my first “purchase” in the Metaverse last week. I can’t say it was a user-friendly experience. Everybody who tried it needed detailed guidance. Still, it was pretty cool.

The premise was sufficiently simple. Using an Oculus headset, one could enter an immersive virtual environment to shop. And so I found myself in a landscaped nature park with various items for sale amid grass and rocks.

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