“Special New Year Speech”

: 2020 Speech from MyFinB’s Group CEO / President

Singapore, 1stJanuary 2020 

Dear valued partners,

I’ve learnt over the years that a critical ingredient to business success is Action – getting off our behinds and actually doing something. It is as simple as that. Many people have ideas, but there are very few who decide to do something about them immediately. Not tomorrow. Not next week. But today.

We have had both hits and misses using this approach. But our hits brought us great opportunities, both realised and unrealised – even greater than the cost of our misses, which were also significant and sometimes bitter to swallow.

Steve Jobs said, “Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do.” While an entrepreneur can never be truly satisfied at every stage of business growth, that doesn’t mean that he or she can’t be grateful. And we certainly love what we do. Gratitude and loving what we do is what drives a committed and dedicated team to get things done.

When we started MyFinB as part of VSC’s venture-building programme, we had set out to achieve a vision. We want to be the global market leader in financial and business decisioning systems. Our mission is to help decision-makers with accurate, timely and forward-looking insights using A.I.-driven analytics. To drive this forward, we know we have to extend our reach – first breadth-wise, then in depth. This means that we will eventually go head-on with the big boys gunning for the big customers, and competition is expected to be tougher.

Since 2H of 2019, we have been gradually shifting our focus strategy-wise from being disruptive to being collaborative. This has reaped very promising results through our hugely successful Digital AI Labs programme (DIAL). The mantra of the digital age has been disruption. The future, however, will look different from the past. This is because the technologies that will power advancement will be far less understood, much more expensive to develop, and not amenable to rapid prototyping or iteration. Human methodologies and machines need to interact more actively and seamlessly.

Moving forward into 2020, there are several key priorities that MyFinB has set, namely – market expansion, mergers and acquisitions, public listing, new technology breakthroughs via R&D innovation, organic customer acquisition. All this in order to achieve good profitability growth.

Lastly, I leave you with a quote by Walt Disney that has served me well. It goes, “The way to get started is to quit talking and start doing.”

Thank you for journeying with us, and for all your support.