The need to increase efficiency in doing business was cited as an important factor for adopting fintech, by nearly six in 10 respondents.
Over a third of respondents believe that incorporating fintech is necessary as a new way of operating, given the disruptions caused by the novel coronavirus pandemic. Chng Lay Chew, Singapore divisional president of CPA Australia, noted that it is important for senior management and the boards of directors to have the relevant expertise to drive companies' cybersecurity strategies as well as invest in systems and people to build up cyber defences.
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