Singapore Business Review: Is crowdfunding a serious threat for banks? A three part series

Singapore Business Review: Is crowdfunding a serious threat for banks? A three part series


PART 1: Digital revolution is disrupting corporate finance.

With the proliferation of alternative forms of finance, it is not inconceivable that crowdfunding via online platforms could become a major source of corporate finance. Some industry players have observed that traditional banks have been slow to respond to the digital innovations that are radically changing business models.

In this first installment of a 3-part series, Singapore Business Review spoke with several experts who exchanged ideas during the recently concluded ACCA Singapore Annual Professional Debate 2015. They bring up strong and compelling points for the motion – “In the midst of the digital revolution, Singapore’s largest banks today will relinquish their position as the dominant players in corporate finance in 2025.”

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PART 2: Experts uncover how banks will fare in this dynamic environment.

In the first part of this series, experts interviewed shared that crowdfunding is becoming an established form of investing that is eating some portion of the market which traditionally has always been a monopoly of the banks. While some argue that it is only a matter of time before we see alternative financing platforms taking over the role of traditional banks, there remains ample reasons to believe that banks can actually turn the threat into an opportunity with right strategies.

Here are some of the experts’views on how banks will fare in this dynamic environment:

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PART 3: Experts share what CFOs will likely make of all this.

As presented in the previous issue, crowdfunding is shaking up corporate financing industry in the way Paypal shook up how we pay for products and services online.

While experts are divided on whether alternative financing platforms will soon kill banks, they agree on one thing – banks need to transform and that requires serious rethinking of current strategies.

In this last issue of the series, experts are asked on what they think would be the future of corporate financing and its implications on financing decisions to be made by CFOs, accountancy and finance professionals.

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