Singapore, Nov 14 (ANI): Prime Minister Narendra Modi on Wednesday attended Fintech festival in Singapore. While delivering the keynote address, he said, technology in the new world is a key factor which is defining competitiveness and power. PM Modi said, "We are in an age of a historic transition brought about by technology. The character of the global economy is changing. Technology is defining competitiveness and power in the new world. Also, it is creating boundless opportunities to transform lives." PM Modi arrived in Singapore on Wednesday to attend the 13th ASEAN Summit at the invitation of Singapore Prime Minister Lee Hsien Loong. Singapore is chairing the 10-member Association of Southeast Asian Nations (ASEAN) this year.