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Singapore / Singapore · CITY × MARKET

Financial inclusion
in Singapore.

Proposed wedge: turn consented financial information into understandable household decisions without pushing unsuitable products.

Joshua ArmahFounder · Pheonix Startups
PUBLIC DESK RESEARCH
14 October 2026 · Edition 01
PHEONIX
RESEARCH

THE IMPACT ATLAS · EDITION 01

A closer look.
A copy to keep.

YOUR FULL REPORTFinancial inclusion in SingaporeJoshua Armah · Founder, Pheonix Startups

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THE PLACE BEHIND THE OPPORTUNITY

Singapore rewards an impact proposition that can survive rigorous operational and regulatory scrutiny. The editorial opportunity is to demonstrate a specific result with a credible local buyer, then separately validate whether the economics and access model transfer to other Southeast Asian markets.

Singapore's constraints connect several impact sectors. SFA's 2024 statistics state that more than 90% of food is imported; its evolving Food Story 2 strategy stresses diversified supply and resilience. The Green Plan includes building-efficiency and energy-transition targets. These facts justify investigating resilient operations, but neither an import share nor a government target is a venture market-size estimate. Expensive local production is not automatically an impact improvement if its energy, affordability or reliability is worse than the alternative.

Singapore Food AgencySingapore Food AgencyGovernment of SingaporeSingapore Ministry of HealthMonetary Authority of SingaporeMySkillsFuture / Government of SingaporeSingapore National Environment AgencyNational University of SingaporeEnterprise Singapore
01 / THE EVIDENCE, DRAWN TO SCALE

One place. A wider context.

Singapore context sits beside the global signal. Different geographies and units remain separate.

REPORTED OBSERVATION
>90%SHARE WITHIN THE SOURCE DEFINITION

More than the highlighted share · 100 units = the defined whole

Food supply imported; a resilience exposure rather than a market-size estimate

2024 statistics; published 2025
Singapore national / city-state

Imported food-supply share; a resilience exposure, not market size. The bar marks the stated lower bound.

Singapore Food Agency2025-06-05; data 2022–2024
SOURCE ESTIMATE
1.3bnSCALE OF THE REPORTED QUANTITY

Each block = 50 million adults

adults without a financial account

2024 survey; 2025 report
Global; adults aged 15+

Global adults without a financial account, based on the 2024 survey. National survey statistics are not city-level demand estimates.

World Bank16 July 2025; 2024 survey data

Visuals reproduce the cited signal, including its original scope. Rounded unit graphics are reading aids; the displayed figure and source definition govern the claim.

04 / FOLLOW THE SYSTEM

Where Singapore can begin.

A proposed operating map for financial inclusion. Read the handoffs before choosing a product to build.

Finance
system
  1. 01

    Identify & onboard

  2. 02

    Move money safely

  3. 03

    Keep useful records

  4. 04

    Save & absorb shocks

  5. 05

    Resolve problems fairly

THE BUYER QUESTION

Participating financial institutions, authorised financial-planning providers and community financial-capability programmes.

THE EXPERIMENT

Test a plain-language financial-health explanation with voluntary users through an appropriate existing provider; measure whether they understand obligations and next steps.

Read the complete value chain
  1. Identify and onboard
  2. Move money safely
  3. Keep useful records
  4. Save and absorb shocks
  5. Resolve problems fairly

Editorial system map derived from the research brief. The sequence is a framework for discovery, with no claim that a Pheonix programme, customer or pilot is operating.

Financial inclusionSDG 1 · 8 · 10

Proposed wedge: turn consented financial information into understandable household decisions without pushing unsuitable products.

RESEARCH HYPOTHESIS · TO VALIDATE LOCALLY

The opportunity

SGFinDex enables participating services to retrieve financial data with Singpass-based authorisation. The gap to investigate is comprehension and follow-through, particularly for people who need assisted financial planning.

03 / PROPOSED IMPACT FRAMEWORK

Make the benefit testable.

An impact claim should survive a difficult question. Design the measurement before you design the success story.

  1. 01

    Establish the baseline

    Start in Singapore. Define the people, geography and existing service before measuring a change.

  2. 02

    Run a bounded pilot

    Use the proposed experiment above as a starting question. Agree the local scope, duration, comparison and safeguards before beginning.

  3. 03

    Compare the outcome

    Ask what would have happened otherwise. Compare like with like and record how much uncertainty remains.

WHAT TO MEASURE

The outcome ledger

  • LOCAL OUTCOME MEASURE

    Comprehension, avoidable fees reduced, completed user-selected actions, complaint rates and successful consent withdrawal.

Keep the counter-evidence.

Access to SGFinDex is not automatic for a new startup. Minimise retained data and separate education from regulated advice or commission-led recommendations.

Proposed measurement pathway. No baseline, pilot result, participant count or achieved impact is being reported in this diagram.

PUT IT IN PERSPECTIVE

The global market context.

The World Bank’s Global Findex 2025 draws on surveys of about 148,000 adults in 141 economies conducted in 2024. Its estimates are nationally representative, not observations of individual cities.World Bank

The World Bank reports 1.3 billion adults still without accounts and substantial gaps in safe digital access. Its release also highlights the need for consumer protection and secure payment infrastructure alongside account access.World Bank

Explore this market in all 12 cities
WHAT TO LEARN BEFORE BUILDING
  1. Which existing cost or uncertainty will disappear?
  2. What happens when a payment fails?
  3. Can excluded users access an assisted or offline route?

Follow the evidence.

Publication dates and geographic scope are shown for each source. Linked institutions are references, with no affiliation or endorsement implied.

  1. 01
    Singapore Food Statistics 2024

    Singapore Food Agency · 2025-06-05; data 2022–2024

    Singapore national / city-state food system
  2. 02
    Our Singapore Food Story 2

    Singapore Food Agency · Undated; includes 2026 developments; accessed 2026-10-14

    Singapore food-security strategy
  3. 03
    Our Targets — Singapore Green Plan 2030

    Government of Singapore · Undated; accessed 2026-10-14

    Singapore national policy targets; not all targets achieved
  4. 04
    Action Plan for Successful Ageing 2023

    Singapore Ministry of Health · 2024-08-13 page; refreshed 2023 plan

    Singapore; 2030 ageing projection refers to Singaporeans
  5. 05
    Singapore Financial Data Exchange — SGFinDex

    Monetary Authority of Singapore · Undated; accessed 2026-10-14

    Singapore financial-data infrastructure and participating institutions
  6. 06
    SkillsFuture Level-Up Programme

    MySkillsFuture / Government of Singapore · Undated; includes March 2026 allowance extension; accessed 2026-10-14

    Eligible Singapore citizens aged 40 and above; programme-specific conditions
  7. 07
    Waste Statistics and Overall Recycling

    Singapore National Environment Agency · Undated page; 2025 data; accessed 2026-10-14

    Singapore; domestic, non-domestic and overall streams distinguished
  8. 08
    TS2 accelerator programme and new BLOCK71 Social Impact Hub

    National University of Singapore · 2024; launch described as 2024-07-25

    Singapore social-enterprise ecosystem; historical programme announcement
  9. 09
    Join Startup SG

    Enterprise Singapore · Undated; accessed 2026-10-14

    Singapore startup support programmes
  10. 10
    The Global Findex Database 2025 — Report and survey scope

    World Bank · 2025; nationally representative 2024 surveys

    141 economies
  11. 11
    Mobile-Phone Technology Powers Saving Surge in Developing Economies

    World Bank · 16 July 2025; 2024 survey data

    Global / developing economies
Continue with all six markets in Singapore

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