SINGAPORE, Aug. 29 (Xinhua) -- The Bank of China (BOC) Singapore Branch and the National University of Singapore (NUS) signed an agreement on Monday to advance Fintech innovation through BOC-NUS Case Competition, according to BOC's press release issued on Monday.
Signed at the FutureChina Global Forum held here on Monday and witnessed by Ong Ye Kung, Minister for Education of Singapore, the agreement will see BOC sponsoring the 10th NUS Case Competition themed Fintech innovation. Students will be allowed to advance innovation in the Fintech ecosystem.
"Fintech is flourishing in Asia and China is one of the established leaders in Fintech innovation," said Qiu Zhikun, General Manager of BOC Singapore Branch, adding that through this partnership with Asia's top university, we hope to use technology to create products that enhance customer experience, while supporting Singapore's vision for a Smart Nation."
Bernard Yeung, Dean and Professor at NUS Business School said that the subversive development of science and technology,the high penetration of smart phones and the booming e-commerce industry have transformed the way business is done, and this year's Fintech theme could not be more relevant.
Established in 2009 with the intention to grow and groom the next generation of business leaders, NUS Case is the student-led, undergraduate business case competition in Singapore that includes national and international segments.
The national segment will for the first time this year be open to all six autonomous universities in Singapore. For the international segment, a total of 20 schools from 12 countries and regions will be participating in the case competition this year, including Copenhagen Business School, Maastricht University, Peking University and University of California, Berkeley.
It is also the first time the competition will feature a hackathon segment where the outcomes of the earlier case competition will be used to develop a separate case. Undergraduates from Singapore will then go through a 48-hour hackathon to help BOC gather ideas for application architecture and design flow.
Established in 1936, the BOC Singapore Branch is one of the ten foreign banks that hold Qualifying Full Bank License in Singapore where over 120 foreign banks are doing business so far. Leveraging on the Group's extensive global network and local expertise, it provides customers with a full suite of banking services such as traditional commercial banking services, investment banking services, and private banking services.
Since 2015, it has provided vigorous support for the Belt and Road Initiative, and has financed projects with a cumulative amount of over 16 billion U.S. dollars in around 20 countries and regions along the routes by the end of July 2018. It has also successfully assisted to raise funds of over 70 billion U.S. dollars of syndicated loan as mandated lead arranger, and over 10 billion U.S. dollars of bond issuance as underwriter and distributor for enterprises and the "Belt and Road" relevant projects. (Contributed by Li Xiaoyu; edited by Zhang Yuan, zhangyuan11@xinhua.org)
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