Our day started with a company visit at Standard Chartered Bank. The bank focuses on the Asian and African market. The Presentation was opened by Dr. Michael Gorriz, Chief Information Officer, who explained more about the concept of Open Banking. Followed by Nitin Bhandari, Managing Director & Global Head – APIs, Blockchain & Platform Partnerships and Dr. Sebastian Wedeniwski, CIO Technology Strategy & aXess at Standard Chartered Bank. We gained insights into their strategic global business and their view towards the future of the banking industry in the digital transformation, ie. open banking trends, their technology strategy and aXess platform to apply API’s.
After a short lunch break, we returned to the hotel, where we had the honor to meet Birgitta von Dresky, Partner and Attorney-at-Law at the law firm Luther LLP. She is responsible for clients emerging to Asia and informed us about the legal situation to start a company in Singapore. In comparison to Switzerland the process is much faster and requires 1 SGD only as share capital. We had some time to ask her questions regarding our business cases and we found her visit very helpful and eye-opening.
After learning about the legal aspects, we started to work on our business cases in our groups. At first, we analyzed the topic and prepared a questionnaire for the upcoming field search. We finished the second day with an individual dinner in the local restaurants of Singapore.