Press releases about business, cryptocurrency, fintech and more news in Hong Kong and Asia

Singapore innovation: The local tech companies making it big globally

How can Singapore companies remain relevant and competitive in an ever-evolving business environment? That’s one of the key questions that the Future Economy Council – chaired by Deputy Prime Minister and Coordinating Minister for Economic Policies Heng Swee Keat – seeks to answer. 

One of the council’s solutions: Industry Transformation Maps. These sector-specific roadmaps focus on areas such as internationalisation and innovation. 

Why innovation in a time of economic uncertainty? From digital security software that helps making banking transactions smarter and safer, to the sheen on your smartphone, the transformative journey of two successful homegrown firms behind those ideas is clear: To be globally great, innovate.

A virtual key to enhance security

Just 10 years ago, hardware tokens were the most commonly used authentication method for internet banking transactions. 

If you use online banking services, you’d know that these physical tokens have since been replaced by virtual ones embedded within mobile apps. 

The man behind this innovation is Mr Joseph Gan, CEO and co-founder of local mobile security software firm V-Key. Like many, he found those hardware tokens inconvenient to use. They were also clunky to carry around.