Singapore Intensifies Fintech Push

Already a leading global hub of financial technology and innovation, Singapore is stepping up its efforts to become the leader in the APAC region with the announcement of a major awards program.

The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) have jointly announced The Fintech Awards. The competition will be part of the inaugural Singapore Fintech Festival that will be held from the 14 – 18 November 2016. 

Healthy Financial Incentive 

Made up of the MAS Fintech Awards and ABS Global Fintech Award,  The Awards will recognise innovative financial technology solutions that have been implemented by fintech companies, financial institutions, and technology companies. To qualify, the projects must have been implemented before 30 June 2016.

For the MAS Fintech Awards, up to 9 recipients will each receive between S$50,000 and $250,000. The total quantum for the MAS Fintech Awards will be up to S$1 million.
For the ABS Global Fintech Award, at most one recipient will receive S$150,000.

Four Key Parameters

A panel of judges representing a cross-section of experts from the private and public sector (such as venture capital, accelerators, consultancies, industry associations, and government) will evaluate entries based on, Impact, Practicality, Interoperability, Uniqueness & Creativity. 

«The MAS Fintech Awards and ABS Global Fintech Award represent the industry’s highest accolade for fintech innovation. These awards celebrate the spirit of innovation in the financial sector by providing recognition to innovative fintech projects that have been implemented in Singapore. It is our belief that such recognition will help foster a culture of innovation within the financial sector,» said Sopnendu Mohanty, Chief Fintech Officer of MAS.

 

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