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Reflections from SWITCH 2024 and Asia’s RegTech Future

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SWITCH 2024 lit up the Sands Expo & Convention Centre in Singapore with an unmistakable pulse of innovation. From government regulators to fintech disruptors and global enterprise tech leaders, the event embodied the convergence of capital, compliance, and code. The air buzzed with urgency and collaboration, as stakeholders from over 40 countries debated the next phase of financial digitization and regulatory transformation. Amid packed plenaries and high-level networking forums, the FinTags team engaged with forward-looking CFOs, regulatory representatives, and ecosystem builders—each echoing a shared theme: the future of finance is structured, digital, and borderless

Singapore’s status as a regional nexus for fintech regulation and innovation was on full display. As FinTags’ Asia headquarters, Singapore represents more than a base of operations—it is a strategic vantage point. The city-state’s regulatory rigor, led by ACRA’s XBRL mandates and digital filing infrastructure, sets a benchmark for the region. For FinTags, Singapore enables agile responses to shifting compliance needs and provides proximity to key decision-makers shaping Asia’s financial reporting frameworks.

A resounding takeaway from SWITCH was the accelerating regulatory momentum surrounding XBRL adoption across Asia. National regulators are actively pushing toward structured financial reporting to enable transparency, comparability, and supervisory efficiency.

Singapore continues to lead with ACRA's ongoing digital business reporting requirements, including updated taxonomy frameworks that demand precision and adaptability from compliance providers.
Malaysia’s Suruhanjaya Syarikat Malaysia (SSM) is expanding the scope of XBRL filings, aligning with international best practices and signaling a shift from voluntary to mandatory digital reporting for selected entities.
In India, the Ministry of Corporate Affairs (MCA) has enhanced enforcement around iXBRL submissions, now mandatory for listed and large unlisted public companies. The revised formats reflect a clear intent to streamline analytics and oversight
Indonesia’s Financial Services Authority (OJK) has intensified its efforts to digitize disclosures, laying groundwork for widespread XBRL deployment within banking and capital markets.
The Philippines is in the midst of structured data pilots led by the SEC, aiming to introduce XBRL filings gradually across public companies and investment firms.
In Hong Kong, the Financial Services Development Council (FSDC) is spearheading industry consultations on XBRL, reflecting the city’s drive to harmonize data standards and foster fintech innovation.
Japan and South Korea are reinforcing machine-readable financial reporting. Their respective regulators—Japan’s FSA and Korea’s FSC—are enhancing digital submission protocols to support AI-driven supervisory analytics.

Amid these developments, FinTags stands at the forefront with tailored, XBRL-driven compliance solutions engineered for Asia’s regulatory complexity. Our platforms are built with CFOs, auditors, and corporate filers in mind—offering precision tagging, localized taxonomy support, and seamless integration with internal reporting systems. This domain expertise and regional fluency allow us to navigate jurisdictional nuances while enabling clients to meet evolving mandates confidently.

As SWITCH 2024 reaffirmed, regulatory innovation is no longer optional but foundational. FinTags is proud to be an enabler in this transformation, and our participation in SWITCH underscores our commitment to shaping Asia’s RegTech landscape. Looking ahead, we will continue to drive compliance innovation, partnering with regulatory bodies and financial institutions to deliver solutions that define the next era of structured financial reporting.

For more information write to us at hello@fintags.com.sg or call +65 6460 9390.