Providing an End to End value proposition to our financial services clients looking for innovative solutions with expertise around co-creation of problem statements, outreach to the vast network of FinTechs, assess the fintech solutions and organize an innovation challenge.

1. Find out more about how
EY can bring about
innovation for your
business today
As the traditional banking industry becomes increasingly turbulent
and competitive, corporate banks have been pushed to innovate
digitally to respond effectively to their corporate clients’ changing
expectations and achieve growth.
However, innovation requires more than simply making legacy
processes available online. Corporate consumers today are looking
for real and transformative changes from commercial banks. This
is where FinTechs come into play in the financial services
ecosystem. FinTechs can help institutional banks in areas they fall
short when delivering an engaging client experience. They can
develop functionality that closes the gap between traditional
processes available currently and what is instead demanded by
corporate clients today.
Banks stand to gain by relying on FinTechs’ technical proficiency
and agility, and partnering with them instead of fearing
disintermediation.
In the spirit of bringing together banks and FinTechs, EY launched
Innovation as a Service.
This solution offering will help to seek out the most innovative
FinTechs from across the region to address the key problems your
business faces.
Innovation as a
Service

2. About EY Innovation as a Service
EY Innovation as a Service is a solution offering to
help businesses seeking to bring about innovation
they need to do business better.
Contact Us
Varun Mittal
Associate Partner
Global Emerging Markets and ASEAN FinTech Leader
Ernst & Young Solutions LLP
Varun.mittal@sg.ey.com
Learn more
Deployable FinTech Assessment Criteria
► Client-centricSolution?
► Innovative Solution?
► Speed to Market?
► Value Proposition?
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► Maturity of the Company?
► Scalability?
► Integration Feasibility?
Innovation as a Service: Implementation Timeline
Phases
Activities
Deliverables
Align
► Conducted a kick-off
workshop to align client on
problem statements and
FinTech assessment
approach and methodology
► Co-define FinTech
assessment criteria,
leveraging EY’s Fintech
assessment tools, templates
and user stories
Week 1-2
► Defined Problem
Statements
► Fintech
Assessment
Criteria
► Utilize EY Horizon Scanner
and other market sources to
identify viable FinTech firms
► Engage with FinTechs to
understand offering,
technological competency
and delivery capabilities
► Create a one-page profile for
each assessed FinTech firm
Analyze
Week 1-4
► Scored FinTech
Assessment
FinTech Profile
► Collate the results to
shortlist and prioritize
FinTechs based on scoring
methodology
► Synthesize findings into
FinTech assessment report,
leveraging EY FinPick
► Provide recommendations
relating to solutions and any
key perceived risk areas
Synthesize
Week 4-5
► Fintech Selection
Report
► Support client to prepare
materials for the
‘Presentation Day’ which
relates to the impact of the
FinTech solution
► Host the ‘Presentation Day’
at EY wavespace
► Assist in presenting,
showcasing our selection
approach and providing
recommendations
Week 5-6
► Presentation
Materials
Transition
► Conduct mentoring
workshops with each of the
selected FinTech providers
to assist in planning for the
POC
► Work with FinTechs to define
a high level product delivery
roadmap and provide
recommendations on
working with the client
during the POC phase
Week 6-7
► POC Delivery
Roadmap
Presentation
Support
How can EY help?
Context
A large global bank was seeking innovative solutions
provided by FinTechs to address problems provided by their
corporate clients. As such, EY provided Innovation as a
Service for this large global bank to help deliver innovative
FinTech solutions and alleviate the pain points of the client.
Solution Configuration
► As part of the solution offering, EY held the ASEAN FinTech Challenge for the
client, providing a platform to gather FinTechs to deliver solutions to client and
end-to-end support
► Helped to craft and refine 3 problem statements – C2B Collections, Trade and
Ecosystems
► Liaised with FinTechs through leveraging on EY’s extensive network of both
FinTechs and Regulators
► Monitored FinTech preparation progress daily, provided guidance on pitch
preparation, event venue and technical support
Client Impact
► Empowered the client to obtain
the FinTech solutions they
require for their business
through an effective platform to
link the client with FinTechs
Case Study