The Monetary Authority of Singapore (MAS) announced the launch of the inaugural Global Veritas Challenge. The competition seeks to accelerate the development of solutions which validate artificial intelligence and data analytics (AIDA) solutions against the fairness, ethics, accountability and transparency (FEAT) principles, to strengthen trust and promote greater adoption of AI solutions in the financial sector.
FinTech and Innovation
MAS has announced a $125 Million support package for the financial and FinTech sectors to deal with the immediate challenges from COVID-19 and position strongly for the recovery and future growth. MAS also launched a $6 Million MAS-SFA-AMTD FinTech Solidarity Grant to help Singapore-based FinTechs sustain operations, retain staff, and offset POC costs.
19% Y-o-Y increase
in FinTech investments for H1 2020
Grants for Innovation
Get funding on proof-of-concepts, hiring, business development and more.
World’s first open architecture platform for financial institutions to easily discover FinTechs, quickly design prototypes and rapidly deploy solutions.
World's first to use a national digital identity and centrally managed online consent system for secure access to financial data from private and public sectors.
Understand the various initiatives for technology solutions and projects in Green Finance.
An industry collaboration exploring the use of Blockchain and Distributed Ledger Technology (DLT) for Central Bank Digital Currency.
Singapore FinTech Festival
The world’s largest FinTech festival for the global FinTech community to connect, collaborate and co-create.
Sandbox relaxes specific regulatory requirements to enable live experiments of innovation within boundaries.
Business sans Borders
A collaborative AI-driven global solutions hub to foster SME digitalisation.
Understand more about MAS’ payment initiatives like SGQR, FAST, PayNow and UPOS.
MAS, in partnership with the IMF, World Bank, Asian Development Bank, United Nations Capital Development Fund, United Nations High Commission for Refugees, United Nations Development Programme, and the OECD, has announced the launch of a global challenge for retail Central Bank Digital Currency (CBDC) solutions (Global CBDC Challenge).
Written Reply to Parliamentary Question on the implementation progress of Project Ubin
Mr Ravi Menon, Managing Director, MAS, highlighted the need for foundational digital infrastructures to spur the growth of the digital economy, and spoke on the four foundational digital infrastructures - digital identity, authorisation and consent, payments interoperability, and data exchange.
MAS has launched a report on the foundational digital infrastructure necessary for an inclusive digital economy and seamless cross-border transactions around the world.