Cyber Security Is Key Risk, Singapore Central Bank Chief Says

Ravi Menon, the Monetary Authority of Singapore’s managing director, has embraced financial technology to create jobs and bolster the city-state’s position as a financial hub.

The central bank is among the earliest adopters of “regulatory sandboxes’’ for fintech companies, a concept pioneered by the U.K.’s financial regulator. That allows firms with new ideas at the intersection of finance and technology to test their products and services before fully launching them. Menon spoke with Bloomberg News ahead of the Singapore FinTech Festival next week.