How Singapore Is Fast-Tracking FinTech Patent Applications (and making more "Crazy Rich Asians"?)
A leading banker in this Kat's national backyard observed last week that conventional banks that ignore FinTech do so at their long-term peril. Ahead of the curve is Singapore, a world center for banking. Kat friend Constance Leong describes how Singapore is implementing fast track protection of FinTech patent applications. The box-office smash hit, "Crazy Rich Asians" , is on everyone’s lips (and social media feeds) nowadays. The Singapore-set Hollywood movie, featuring an all-Asian cast, comically peers into the lives of the one-percenters strutting their stuff in famously up-market Singapore. Love it or hate it, the movie nails one thing for sure: Singapore is a playground for the financially savvy; a haven for financial technology (commonly known as “ FinTech ”). In this spirit, the Intellectual Property Office of Singapore (“IPOS”) has launched a fast-track patent scheme determined to accelerate innovation for finance sector inventions. This one-year scheme, ...