Last week Lucent Sky participated in FinTech Asia, hosted by Visa at the Red Dot Museum in Singapore. Lucent Sky was a technology partner for the event, which featured a select group of technology companies alongside tens of banks, payment providers and financial institutions throughout South East Asia.

Highlights from the event included presentations by the Chief Creative Officer of IDEO, Paul Bennett, and a series of panel discussions highlighting the rise of the sharing economy in Asia, innovation strategy and practice, and prevailing trends in FinTech innovation in Asia.

Despite representing a large and rapidly growing regional market, it was apparent that Asia cannot be considered as one market, but rather a series of adjacent markets with unique characteristics and challenges. In the face of these differences, common challenges laid in the realm of balancing innovation in products and processes - many organizations felt the adoption of full products would accelerate their businesses, while others focused on adopting processes that would allow them to streamline the development and maintenance of their own suite of products and technical capabilities. It was estimated that new products took 2-3 years to go from ideation to market.

Lucent Sky was proud to participate among other progressive and innovative technology partners to share and learn from banks and payment providers in Asia. If you’d like to learn more about how Lucent Sky can bring efficiencies to FinTech, contact us here.