4xLabs Shortlisted as a Top 10 Finalist in FIN/SUM 2019 Startup Pitch
10 September 2019
Singapore fintech is among 30 shortlisted start-ups to compete in Japan
10 September 2019 - 4xLabs, a Singapore fintech driving the digital transformation of the money services industry, has been announced as a top 10 finalist in the FIN/SUM Startup Pitch in Japan. Over 100 global entries were received for the competition, which was part of the SUM series of conferences for agriculture, AI, fintech, mobility and transportation. From these 100 entries, 30 start-ups were invited to the FIN/SUM conference in Japan, where they did a three minute pitch in front of an international panel of judges.
“We are extremely honoured and delighted to have been selected to participate in the FIN/SUM 2019 Start-up Pitch in Japan. We’d also like to thank the distinguished panel of judges who saw the potential and impact of our Biz4x solution in terms of transforming largely traditional businesses into modern streamlined operations that are efficient, compliant and able to drive societal adoption of digital payments,” said Angela Cheong, the Chief Marketing Officer of 4xLabs.
The FIN/SUM Startup Pitch saw 30 fintechs compete over the course of three days for the NIKKEI Award, the SBI GROUP Award, Plug and Play Japan Award and the UK Award. Start-ups were evaluated based on novelty or uniqueness of their product and service, future marketability and scalability, as well as how well the pitch was presented or structured.
“Our selection as a finalist in the FIN/SUM Awards is really a nod to the work we have done in the past few years such as launching new digitalization services for our customers and capturing new markets. In the last few months alone, we have launched Send4x, a comparison service for money transfer providers. Being a finalist in FIN/SUM 2019 start-up pitch has allowed us to further our market development plans in this region as well as opened many doors for us in terms of partnerships and collaboration opportunities,” said Ms Cheong.
FIN/SUM 2019 was jointly organised by the Financial Services Agency in Japan (FSA) and Nikkei. The event was held from 3 to 6 September 2019 in Marunouchi, a central business district in Japan. The event was aimed at highlighting to the global community the current developments and growth in the Japan fintech industry. It was also geared towards establishing Japan as a hub, and part of the global ecosystem for driving cooperation and collaboration among fintech stakeholders with the theme, “Multi-stakeholder Cooperation for a New Financial System”.
Topics covered in the conference included stakeholder cooperation in decentralised financial systems, blockchain traceability and privacy, AI and ethics, API architecture and cybersecurity. Many discussions centered on leveraging the Olympic Games 2020 to power the adoption and growth of new and existing financial services.
4xLabs is a Singapore fintech that develops technology solutions for financial and professional services. In 2012, the company launched an online app for comparing money changing rates known as Get4x, which has a growing community of 260,000 users, and is available in 22 cities. In 2016, it launched an online integrated platform for money services business to manage all aspects of their business, known as Biz4x. Biz4x is used in more than 35 countries today. The latest innovation from 4xLabs is Send4x, a platform that compares and breaks down the cost of remittance.