The London Stock Exchange Group (LSEG) has launched a dedicated Sustainable Financial Innovation Unit in Singapore as part of its new LSEG Lab Network to drive innovation in the country’s fintech sector, according to media reports.
LSEG has support from the Monetary Authority of Singapore (MAS) that will work with the company to help to create financial functions to speed up innovation and advanced technology throughout the country.
LSEG Labs works with customers and partners around the world where they apply strategic analytics, emerging technologies, data science and design thinking to solve the active challenges present in the financial industry of Singapore.
It also aims to provide expertise in data science, data engineering, design thinking, environment, society and governance (ESG).
Kwok Quek Sin, Executive Director of Green FinTech at MAS’s FinTech & Innovation Group told the media, “Technology plays an increasingly important role in driving the global sustainability agenda. The financial sector addresses climate-related risks and capitalizes for more environmentally friendly and more sustainable activities. Greater collaboration is key to finding innovative solutions that can be mobilized.”
“To this end, establish LSEG’s Sustainable Financial Innovation Unit in Singapore to connect stakeholders with the capabilities needed to support regional and global sustainability and transition efforts. I can. “
The LSEG team also mentioned that they will primarily drive value through accelerating investment into green infrastructure projects, measuring climate risks and making ESG disclosure quicker and easier. The company is also looking forward to opportunities in Data & Analytics, Capital Markets and Post-Trade, applying strategic analysis, emerging technology, data science and design thinking which will be detrimental in solving the country’s pressing financial problems.