Hong Kong Fintech Week (HKFW: Oct.28 – Nov.1 at Asia Expo) and Singapore Fintech Festival (SFF: Nov.6-8 at Singapore Expo), the two leading fintech conferences in Asia, are coming up soon. We are proud that, for the second consecutive year, 100 Women in Finance and 100WFinTech will serve as Supporting Organization for HKFW and Community Partner for SFF. In this special ‘100WFinTech Changemakers’ series, we spotlight two senior women leaders from the 100WFinTech Public Directory, representing two major fintech hubs. Emmanuelle Pecenicic (Hong Kong), Head of Digital Propositions and Partnerships APAC (ex. Japan) at Fidelity International and Board Member of Fintech Association of Hong Kong, and Khai Lin Sng (Singapore), Co-founder and CIO of Alta Group and Vice President of Singapore FinTech Association, share their career journeys in fintech. They discuss how they are driving the adoption of digital assets, blockchain, and other innovations to shape the future of finance through fintech community building.
As a member of 100 Women in Finance, you are eligible for a 10% discount on the Hong Kong Fintech Week General Pass and a 20% discount on the Singapore Fintech Week’s General Pass. For more details, log in to your 100WF membership account and visit the Member Benefits section.
If their stories and missions resonate with you, please share them with your network, get in touch with us, become a member of 100 Women in Finance, and join the 100WFinTech Public Directory.
Emmanuelle Penenicic (Hong Kong, APAC)
Head of Digital Propositions and Partnerships, Fidelity International Asia Pacific ex. Japan
Board Member of Fintech Association of Hong Kong
Founding Member of Web3Women
Location: Hong Kong
LinkedIn: https://www.linkedin.com/in/emmanuelle-pecenicic
First, we spoke with Emma, who leads Digital Propositions and Partnerships in Asia Pacific for Fidelity International, excluding Japan. Emma leads digital distribution for Fidelity International in Asia Pacific. She works with online banks, neobanks, neobrokers, and crypto platforms in the region to guide the next generation of investors in their wealth journey. Since 2023, she has also taken on leading the distribution efforts for digital assets globally for Fidelity International, supporting the commercialization of Fidelity International’s Bitcoin spot strategy as well as fund tokenization. Before Fidelity, Emma worked as Head of Digital Strategy for BNP Paribas Asset Management, where she started working on blockchain projects and tokenization in 2018.
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Emma started in a “traditional” asset management career working as an Investment Specialist in Europe and moved to Hong Kong 13 years ago to cover Asian equities, Chinese onshore assets, and Indonesian equities. After 6 years of learning about Asian markets, and starting a personal interest in technology through artificial intelligence and blockchain, Emma finally crossed the line and joined the Digital Transformation team at BNP Paribas Asset Management. This was an important step as Emma worked on “augmented investments”— meaning how we use AI to augment portfolio managers and look at Natural Language Processing to generate investment reports at scale. Emma joined the Fintech Association of Hong Kong around that time, to understand more blockchain and cryptos. The community was growing so fast as things were buzzing in the space at that time. Eventually, Emma led the community as a co-chair for two years. Organizing events on tokenization, NFTs, DeFi, and mining bitcoin in a sustainable way enabled Emma to build a network and support the community of start-ups during the Covid pandemic. Emma eventually took on a leadership role at BNP Paribas Asset Management, focusing on blockchain and tokenization. She worked on one of the first projects that resulted in the asset manager investing in its first tokenized bond. This experience paved the way for her to join Fidelity International. At Fidelity, Emma works on digital distribution and digital assets. For digital assets, she leads the global efforts on the Bitcoin ETP and the fund tokenization distribution. Being in this blockchain/crypto ecosystem, Emma recognized that diversity was missing and women did not necessarily have the time to train on blockchain, web3, and crypto, therefore, she decided to join Web3Women as a founding member to shape the future of tech and empower women in Web3.
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What inspired your involvement in the blockchain and digital assets space, as well as in building the Web3Women community?
I heard about blockchain in 2016, but it’s when I changed roles and engaged with the community through the Fintech Association of Hong Kong that I learnt so much, by meeting incredible people. This space was and is evolving so fast, and being close to the companies that are shaping it was key for me. You can learn a lot from a master or an online course, but I believe you learn even more by talking to people who innovate and shape the technology. The conversations are really unique, and you can feel you are building the future of finance. I believe in the power of community because it brought a lot to me personally and professionally. That is why I wanted to be more involved in the Fintech Association of Hong Kong and one of the reasons for the creation of Web3Women (W3W). The other reason for my involvement in W3W is that the crypto world is a “boys club”. Finance and Tech are at the most challenging intersection for women and I believe we need to change the dynamics. 10% of women have used cryptocurrency, 15% of women are bitcoin investors, 13% of Web3 startups include a female founder. Those statistics are not great and we need to improve them. W3W helps women professionals get a mentor or be trained on Web3 so we can shape the next generation of female leaders in the space.
Hong Kong Fintech Week and Singapore Fintech Festival are coming soon, what is so unique about them?
Hong Kong Fintech week is a great way to celebrate Hong Kong as a Fintech Hub and the gateway to Mainland China. In the latest Global Financial Centres Index 36 report from September, Hong Kong was ranked #4 as a Fintech center. At the Fintech Association of Hong Kong, we play a big role in representing the community of companies and fintech professionals, advocating for the industry and supporting the growth of the fintech ecosystem in Hong Kong. Hong Kong Fintech week is not only the main conference, but there are also hundreds of side events enabling me to connect and reconnect with the new and leading Fintechs. Being based in Hong Kong, Singapore Fintech Festival gives me the opportunity to connect with the rest of South East Asia as the Philippines, Thailand, and Indonesia have a great representation at the Singapore Fintech Festival. For both events, there are always policy and initiatives announcements from the governments, so it is definitely something to watch.
Will you be speaking at the HKFW and SFF? If yes, what is the topic?
I will be participating in multiple events at Hong Kong Fintech Week, and speaking at the Chainlink Smartcon event to discuss how to scale tokenization. I will be highlighting the work we are doing at Fidelity International with our partners in tokenizing money market funds. At the Singapore Fintech Week, I will be speaking at the Digital Assets Week event on institutional investment trends in cryptocurrency demand and access. I am looking forward to seeing other fintech female leaders there!
Khai Lin Sng, Co-founder and CIO of Alta Group
Location: Singapore
LinkedIn: https://www.linkedin.com/in/khai-lin-sng/
Website: https://alta.exchange/
Khai Lin Sng is the Co-founder and Chief Investment Officer (CIO) of Alta Alternative Investments, the leading digital securities exchange for alternative investments in Asia. Backed by Nomura Holdings (Japan) and Philips Securities, Alta is a trailblazer in the region’s financial landscape. Khai Lin spearheads Alta’s Corporate Development division, driving the creation of innovative business units. In her role as CIO, she also oversees the company’s international offices and manages corporate relations, ensuring Alta’s global presence and strategic growth. Khai Lin will talk about her entrepreneurship journey of founding Alta Group and building a Digital Asset Community in Asia.
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What motivated you to found Alta Group, and how did you become involved in the Digital Assets Community?
I first started my career at an investment bank, where I saw the need to solve a number of issues that plagued private market investments. In particular, private markets – where some of the best-performing assets – remained out of reach from most investors. Also, many investors who managed to invest in these alternative assets were unable to find liquidity for their investments.
Moreover, with more companies today choosing to stay private for longer, opportunities to tap into these alternative assets would sadly remain beyond the reach of most investors.
To address the underserved market, my co-founders, Kelvin and Benjamin, and I came up with the idea of a private investment platform to facilitate transactions so that everything is more transparent, efficient, and effective. This vision came to fruition with the launch of our digital securities exchange, AltaX in 2021 (then known as Hg Exchange before Alta acquired it), with the aim of improving access and liquidity for investors in the private capital markets.
We recently launched a groundbreaking liquidity program where shareholders of Income Insurance Limited can cash in on their shares through our member firm PhillipCapital, which is available on AltaX to trade. This marks the largest listing of a non-listed company on a private securities exchange, allowing institutional and accredited investors to trade and own shares of the company.
The shift towards blockchain technology in private market investments is expected to bring about significant changes, with tokenized real-world assets set to redefine the fintech industry. In 2022, we launched Southeast Asia’s first digital whiskey-based token and we hope to continue providing liquidity access for investors through our technology-driven platform and offerings moving forward.
Today, Alta’s end-to-end offerings around and through its blockchain-powered exchange private capital market, fund management, custodial, and other services under one roof, making it easier and faster than ever to complete private market investments, which in the past could take many months.
Being an entrepreneur and the Vice President of the Singapore Fintech Association has given me opportunities to offer a different perspective that is a culmination of experiences unique to women, both mine and that of others, enabling me to empower fellow women entrepreneurs who face unconscious biases.
What have you learned in the process? If you could do it over, is there anything you would do differently?
In founding Alta, I discovered just how crucial technology is in revolutionizing transparency and efficiency in private markets. By harnessing advanced technologies, we created a platform that tackled long-standing issues like liquidity and accessibility in private market investments. This journey revealed the transformative power of technology in modernizing traditional financial services.
Equally important was the lesson in adaptability. We continuously expanded our offerings and made significant adjustments in response to market demands, investor preferences, and regulatory requirements. This experience highlighted the necessity of staying flexible and being ready to pivot whenever necessary.
If I could change one thing, it would be to have launched Alta sooner. The need for a transparent and efficient private investment platform was clear, and starting earlier would have enabled us to fill these market gaps and better serve our clients.
How does Alta Group connect or help your Digital Assets community building?
The idea was always to build a platform for providing access to alternative investments. We realized that creating a traditional, centralized system for private market investments would not address the fundamental issues of transparency, efficiency, and accessibility that plague the private markets. Instead, we pivoted towards leveraging technology to build a more innovative, digital exchange that could better meet the needs of modern investors.
Alta is a digital securities exchange for alternative assets built on advanced blockchain technology to power secure and reliable cross-border listing and trading of capital market products. Technology is what enables everything we do at Alta, making it imperative that we have a sound understanding of how next-generation technologies can help transform private markets. This is key because technology can often distract with the many bells and whistles it comes with, and it is essential to apply what is key to solving problems.
A seamless tech-driven experience in financial services plays a role in customer loyalty and satisfaction; our customers are at the heart of why we do what we do. This impacts how we implement digital solutions and adopt new technologies to enhance efficiency, security, and competitiveness.
What advice would you give someone wanting to follow a similar path (i.e., being a fintech founder in the Digital Assets space)?
Embarking on the journey of being a fintech founder in the digital assets space requires deep knowledge and a commitment to staying informed about the latest trends and regulatory changes. Ensure you have a solid understanding of blockchain and digital assets, and work closely with legal experts to navigate the complex regulatory landscape. Building trust through transparency and security is essential for gaining user and regulatory confidence.
Develop a clear value proposition by focusing on solving specific problems within the digital assets space and continuously innovating to stay competitive. Assemble a strong team of experts with complementary skills and foster a culture of collaboration and continuous learning. Secure funding from investors who believe in the potential of digital assets, and explore diverse funding options, including venture capital and strategic partnerships.
Engage actively with the fintech and digital assets community to build your network and gain insights. Educate your audience to demystify digital assets and foster an informed user base. By focusing on these key areas, you can successfully navigate the complexities of the digital assets space and build a thriving fintech venture.
This special article is part of our Changemakers series for Hong Kong Fintech Week and the Singapore Fintech Festival. In the future, we will continue to feature FinTech book authors, TED talkers, lecturers, and influencers from around the world.
If you are interested in collaborating with 100WFinTech, please visit our website and contact us here.