Singapore FinTech Festival 2021: showcasing quantum computing initiatives & how technology can help achieve climate finance

Events
17/11/2021

For the 5th consecutive year, Crédit Agricole CIB showcased its innovative products and services at the Singapore Fintech Festival, focusing on quantum computing and climate finance.

Singapore Fintech Festival 2021 image

Singapore FinTech Festival is one of the highlights of the year in fintech, featuring a series of ideas and thought-provoking discussions by world-leading industry veterans around the impact of Web 3.0 on financial services and the use of fintech in today’s technology-driven era. Crédit Agricole CIB sponsored the world's largest fintech event for the fifth consecutive year.

From 8 to 12 November 2021, our co-exhibitors – the French Chamber of Commerce in Singapore and startups Pasqal (quantum computing) and Illuin Technology (artificial intelligence) – and us received over 550 content interactions at our e-booth to showcase our innovative products and services. 

Quantum computing, a game changer in banking

As part of the Industry Leader Series, Pierre Dulon, Deputy General Manager for IT and Operations, and Valérie Sauvage, Head of Global IT for Asia-Pacific & Middle-East, shed light on how to ‘Create an advantage with Quantum Computing today’ during the symposium. This game-changer, considered as important as the arrival of the classical computer, has shown promising applications in capital markets, risk management, portfolio optimisation, simulation, machine learning and security enhancement. 

“We believe that our showcase during Singapore FinTech Festival will benefit everyone working on the development of quantum computing technology. Learning from the experiences of others provides opportunities for reflection and unintended discoveries that may turn out to be quantum leaps. In addition, we at Information Systems Asia-Pacific (ISAP) hope to collaborate with local fintech firms, leveraging their current expertise and furthering our ability to innovate." Valérie Sauvage, Head of Global IT for Asia-Pacific & Middle-East, commented.

To improve calculation speed and process more complex computations which cannot be handled by traditional computers, we have established a quantum computing workgroup in 2020 and have launched two proofs of concept with Pasqal and Multiverse Computing

Loïc Chauvet, Head of IT Innovation, and Christophe Michel, Head of Global Market Quantitative Research, further tapped into the future of quantum computing with Pasqal, a partner quantum hardware manufacturer. Watch the replay here.

Technology as an enabler to meet climate goals

Beside computing, climate finance was also one of the areas of focus that Crédit Agricole CIB brought to the forefront this year with the ‘Climate risk and reporting stakes’ workshop led by Romaric Rollet, our Head of Innovation and Digital Transformation and featuring our 2 ESG startup partners, Amalthea FS and Iceberg Data Lab. Believing that technology will be key to address the transition to Net Zero targets and can transform constraints into opportunities, Romaric explored how fintech can help financial institutions with ESG regulatory issues such as the Green Asset Ratio, a regulation affecting any bank running activities in Europe. 

During Product Showcases, Antoine Rose, our Head of Sustainable Banking for Asia-Pacific & Middle-East, spotlighted the ‘Greenifying Trade Finance Will open in a new tab ’ challenge. Trade finance is a critical component of the global economy and is poised to become a trillion-dollar market by the end of the decade. The integration of ESG into this market is relatively new, but it is a crucial trend for promoting sustainability in global trade and supply chains. Fintech such as blockchain and APIs offer a major opportunity to tackle environmental concerns in this business.
 

In addition to the panels and workshops, Crédit Agricole CIB was one of the 10 pioneering partners and the only French player to join ChekFIN, a global fintech registry launched by the ASEAN Financial Innovation Network (AFIN) during the Singapore Fintech Festival. Using the latest generation of Web 3.0 services, ChekFIN provides greater connectivity between financial institutions and fintechs through an open standard and decentralised solution, allowing to efficiently identify suitable fintech partners to transform business to better serve our customers.

The 5-day programme full of exciting and interactive activities between exhibitors and participants has led to the climatic finale of the Singapore Fintech Festival. Looking ahead, technology and innovation will remain a key topic for the Bank. Our ambition to further foster the development of fintech will continue to support Crédit Agricole CIB’s commitment to adapting new disruptive technology to create sustainable and innovative solutions, not only for the benefits of clients but also for the society at large.

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