A significant and influential sector of the economy is the financial services industry.
As the largest sector of the economy in terms of earnings and market capitalization, the financial services industry is the key to the worldwide economy. Several large companies dominate this sector, but there is also an array of smaller businesses.
A country’s economy depends heavily on the financial services sector. It provides the free flow of capital and liquidity in the marketplace. Companies in this sector are more likely to manage risk when the sector is strong, and the economy grows.
It is also crucial for a country’s economic prosperity that it has a strong financial services industry. Strong sectors and economies generally lead to higher consumer earnings. In turn, this boosts their purchasing power. They seek financial services for borrowing on large purchases.
Singapore's Financial Service Industry
As one of the world’s top financial centers, Singapore has served both the local economy and the Asia Pacific region for the past five decades. It is also home to more than 1,200 financial institutions providing a wide array of products and services across various asset classes.
Singapore has well-established financial markets, and the main financial services industries include banking, insurance, and capital markets. Financial centers are well characterized by a pro-business environment, an effective regulatory environment, excellent infrastructure, and the availability of talented and experienced finance professionals.
Global financial institutions can establish themselves in Singapore because of their leadership in the global financial services and technology industries. There continues to be a demand for technology talent within financial services despite global economic uncertainty and a challenging market. Financial services technology is booming, and the government is remaining strong in its support for ICT and innovation. Singapore is now viewed as an alternative to traditional business hubs like London and New York to facilitate key business functions.
How Bluebox can help you?
We offer a broad range of multidisciplinary services in the financial services industry to help you achieve your business goals. We are constantly evolving and growing, to ensure we are always able to deliver the insights-driven and technology-enabled services the organizations need to drive sustainability value growth.
Professionals with deep industry expertise at the firm collaborate seamlessly and execute across all sectors, including funds and asset management, family office, real estate, insurance, and private equity and venture capital & capital market and investment banking.