A dedicated Sustainable Financial Innovation Unit has been launched by the London Stock Exchange Group (LSEG) in Singapore. This is as per its part of their new LSEG Lab Network to drive innovation in the country’s fintech sector. LSEG has great support from the Monetary Authority of Singapore (MAS). They will work with the company in creating financial functions. This advances its technology and speeds up the innovation.
Kwok Quek Sin, Executive Director of Green FinTech at MAS’s FinTech & Innovation Group reported to the media that the technology plays an important role in driving the global sustainability agenda. Climate-related risks and other environmentally friendly sustainable activities has been engaged by the financial sector. Greater collaboration is the key to find innovative solutions.
LSEG Labs has customers and partners around the world. In solving the active challenges in Singapore’s financial industry, they apply these strategic analytics, emerging technologies, data science and design thinking. They also aim to provide expertise in data science, data engineering, design thinking, environment, society and governance. Kwok added that the establishment of LSEG’s Sustainable Financial Innovation Unit in Singapore is to connect stakeholders with the capabilities, that are needed to support regional and global sustainability and transition efforts. The LSEG team will primarily drive value through accelerating investment into green infrastructure projects, by measuring climate risks.