Her Majesty Queen Máxima of the Netherlands attended the Singapore FinTech Festival on 6 and 7 November, in her role as the United Nations Secretary-General’s Special Advocate for Financial Health (UNSGSA). The festival was held from 6–8 November at the Singapore Expo Convention and Exhibition Centre and focused on technological innovations for financial services, or fintech.
On Day 1 of the festival, UNSGSA Queen Máxima attended the opening of the festival and delivered opening remarks at the Global Fintech Hackcelerator, a competition for fintechs and financial service providers that collaborated over the past few months to develop financial products and services aimed at improving financial health. The Hackcelerator featured 18 finalists who presented innovative, market-ready products and services that help people get a grip on their day-to-day finances, protect against financial risks, invest in the future, and build confidence in their financial lives.
Queen Máxima also attended a meeting of the new Global Finance and Technology Network (GFTN). The GFTN is a not-for-profit organization established by the Monetary Authority of Singapore (MAS) in 2024 to harness technology and foster innovation for more efficient, resilient, and inclusive financial ecosystems through global partnerships. GFTN organizes convening forums, offers advisory services on innovation ecosystems, provides access to transformative digital platforms, and invests in technology startups with the potential for growth and positive social impact through its venture fund.
In the evening of 6 November, Queen Máxima spoke with fintech leaders and partners of FMO, the Dutch entrepreneurial development bank, about good practices that promote the financial resilience and financial health of customers. Financial health is important for individuals, households, and society as a whole, as financially healthy customers contribute to the financial health of financial institutions and financial stability.
On Day 2, UNSGSA Queen Máxima participated in a fireside chat, “From Financial Inclusion to Financial Health”, reflecting on her 15 years as the UNSGSA for Inclusive Finance for Development, and discussed her new UN mandate. This conversation was held with Tilman Ehrbeck, owner of Flourish Ventures and chair of the UNSGSA Reference Group, which the Special Advocate has worked with since 2009.
On Thursday evening, Queen Máxima presented the SFF FinTech Excellence Awards to the three winners of the Global FinTech Hackcelerator. "Your Financial Wellness" offers a turn-key solution available through financial institutions and employers that helps users articulate and achieve their financial goals and aspirations, improving financial literacy and decision-making. "WeGro" is a pioneering agri-fintech platform that leverages open banking and peer-to-peer (P2P) lending to offer tailored financial products, including loans, savings accounts, and agricultural insurance, designed specifically for smallholder farmers. "KaiOS" is transforming financial literacy with a gamified, interactive approach that is accessible to everyone, even those without smartphones.
On the sidelines of the Singapore FinTech Festival, UNSGSA Queen Máxima held productive bilateral meetings on her evolving financial health mandate with President Tharman Shanmugaratnam of Singapore, Prime Minister of Singapore and Minister for Finance Lawrence Wong, the Monetary Authority of Singapore (MAS), Ant Financial, AXA, DBS Bank, GCash, the International Monetary Fund (IMF), and Tyme. The UNSGSA also participated in technical briefings with financial health experts to explore collaboration opportunities and exchange insights on Singapore’s financial health initiatives.
As the UNSGSA for Financial Health, Queen Máxima is committed to promoting financial health worldwide by advocating for financial products, services and policies that focus on the needs of customers. The indicators that determine financial health differ by country and culture, requiring both a customized and global approach. Events such as the Hackcelerator in which solutions are devised, and discussions with fintech leaders and partners, make an important contribution.
With over 66,000 participants from 150 countries, the Singapore FinTech Festival is the largest conference on this subject. The audience included representatives from financial institutions, policymakers and fintechs. The organizers were the Monetary Authority of Singapore and the Association of Banks in Singapore.