The Financial Authority of Singapore (MAS) introduced as we speak the 65 finalists for the International FinTech Hackcelerator, and the Singapore FinTech Competition (SFF) International FinTech Awards. These Awards are among the many highlights of SFF 2022, which is able to happen from 2 to 4 November 2022.
International FinTech Hackcelerator 2022
The theme for this yr’s International FinTech Hackcelerator is “Accelerating A Greener Digital Future”, with a twin concentrate on Net 3.0 and Inexperienced Finance. The 17 finalists, comprising FinTech corporations and resolution suppliers, will pitch their options on the International FinTech Hackcelerator Demo Day at SFF on 2 November 2022. All finalists will obtain a S$20,000 money stipend and be eligible for a fast-tracked software course of to obtain a money grant of as much as S$200,000, beneath the MAS Monetary Sector Expertise and Innovation (FSTI) Proof-of-Idea Scheme [1] . The highest three winners will every obtain S$50,000 in prize cash.
Ten finalists have been shortlisted by way of the Native Programme and one other seven from the Worldwide Associate Programme.
Native Programme – MAS and Oliver Wyman shortlisted 10 finalists from over 100 submissions which addressed greater than 50 high-priority drawback statements collated from monetary establishments and trade gamers in Singapore and globally. Over 70 submissions have been from the Asia Pacific area.
Worldwide Associate Programme – This programme attracted options from winners of Net 3.0 and Inexperienced Finance-related competitions organised by chosen worldwide companions. This yr’s worldwide companions are Accelpoint and the Polish Funding & Commerce Company [2] , F10 [3] , Finance for Tomorrow [4] , and FinTech Australia [5] . Seven winners from the programmes run by these worldwide companions have been positioned within the finals of the International FinTech Hackcelerator.
SFF International FinTech Awards 2022
The theme for this yr’s SFF International FinTech Awards is “Embracing Digital, Charting the New Regular”. The Awards, supported by PwC Singapore, seeks to recognise modern initiatives which have demonstrated potential to create new development alternatives, rework trade practices, promote monetary inclusion, and actively combine environmental, social, and governance (ESG) components as a part of their total enterprise mannequin.
The International FinTech Awards comprise awards introduced by MAS and the Singapore FinTech Affiliation (SFA). A complete of 223 submissions have been obtained throughout all 9 award classes. For the FinTech Awards sponsored by MAS, 131 submissions have been obtained throughout 4 award classes [6] of which 48 finalists have been shortlisted. SFA obtained 92 submissions throughout their 5 award classes [7] . Winners of the Awards will likely be introduced on the SFF FinTech Awards Dinner on 3 November 2022.
Mr Sopnendu Mohanty, Chief FinTech Officer, MAS, mentioned, “To remain resilient and related, FinTech corporations should be daring and nimble in implementing modern options that problem current norms, and encourage change within the new regular. We sit up for seeing our finalists obtain larger success of their enterprise as all of us contribute in direction of constructing a robust and sustainable monetary trade.”
Mr Chia Tek Yew, Vice Chairman, Singapore of Oliver Wyman shared, “Net 3.0 and Inexperienced Finance options are nonetheless in nascent levels of adoption by the monetary trade. It has been thrilling for us to work with finalists of the MAS International FinTech Hackcelerator and information these future champions early of their journey to unravel actual world points.”
Ms Wong Wanyi, FinTech Chief, PwC Singapore’s Enterprise Hub, mentioned, “Following just a few years of digital acceleration and resolution improvement by trade gamers amid the worldwide pandemic, we’re seeing a brand new stage of maturity and innovation in ESG and payments-related options at this yr’s FinTech Awards. This marks a optimistic progress in enabling organisations to advance their sustainability and monetary inclusion agenda which is able to in flip unlock new transformation and development alternatives.”
Please consult with Annex A for extra info on the International FinTech Hackcelerator. Please consult with Annex B for extra particulars on the SFF International FinTech Awards and the finalists for the 2022 FinTech Awards beneath MAS [8] .
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Concerning the Singapore FinTech Competition
The Singapore FinTech Competition (SFF) is organised by the Financial Authority of Singapore (MAS) and Elevandi, in partnership with Constellar and in collaboration with The Affiliation of Banks in Singapore (ABS). Since its inception in 2016, SFF has turn into the premier platform for the worldwide FinTech neighborhood to interact, join, and collaborate on points referring to the confluence of economic companies, public coverage, and expertise. Final yr, SFF featured international leaders similar to Ben Horowitz, Co-Founder and Common Associate, Andreessen Horowitz; Invoice Winters, Group Chief Government, Normal Chartered Financial institution; Christopher Younger, Government Vice President Enterprise Improvement, Technique and Ventures, Microsoft; François Villeroy de Galhau, Governor, Banque de France; Marc Benioff, Chair, Co-CEO, and Co-Founder, Salesforce; and Dr Marian Croak, Vice President of Engineering, Google. Final yr’s version introduced collectively 60,000 contributors from over 160 international locations. MAS, Elevandi, Constellar and ABS are proud to collectively ship this yr’s SFF. Go to www.fintechfestival.sg to register for SFF 2022 and obtain updates.
[1] The MAS Monetary Sector Expertise and Innovation (FSTI) Proof of Idea (POC) scheme supplies funding help for experimentation, improvement, and dissemination of nascent modern applied sciences within the monetary companies sector.
[2] European FinTech Hackcelerator by Accelpoint and the Polish Funding & Commerce Company .
[3] F10 Local weather FinTech Incubation Program and Klaytn Net 3 Incubation Program powered by F10 .
[4] FinTech for Tomorrow Problem by Finance for Tomorrow.
[5] Finnies 22 by FinTech Australia .
[6] The award classes by MAS are Singapore FinTech (Singapore Founder); ASEAN FinTech; Singapore Monetary Establishment; and International.
[7] The award classes by SFA are Prime 10 FinTech Leaders; ASEAN FinTech Leaders; FinTech Employer of the Yr; Companions of FinTech; and Data Enterprise Award.
[8] The 4 award classes beneath MAS features a qualifying spherical, whereas the 5 award classes beneath SFA wouldn’t have a qualifying spherical and all are thought of.