Financial Sector Technology and Innovation Scheme
MAS has earmarked S$50 million out of S$250 million from the FSTI scheme to support Green FinTech solutions and projects.
Technology and Sustainability are the two key driving forces shaping the future of financial services. Accordingly, MAS has been actively promoting FinTech and Green Finance. The FinTech journey began in 2015 and Singapore is today often cited as one of the leading FinTech hubs in the world.
The Sustainability agenda is more nascent, with the launch of the Green Finance Action Plan in 2019. One of the key strategies is to harness our strengths in FinTech to address the key challenges in the Green Finance space – what we call Green FinTech.
Project Greenprint was launched in December 2020 and features 3 strategic thrusts - Green FinTech ecosystem development, Greenprint Marketplace and Greenprint Data Platform.
Project Greenprint aims to promote a greener financial ecosystem through 3 pillars:
Create ESG capabilities and innovation within Singapore; and develop international mindshare and momentum through various initiatives
Seeks to match green technology solutions with international venture capital and green project sponsors driven from Singapore
Facilitates the efficient flow of verifiable data for a data-driven ESG ecosystem to support its 3 key pillars
Every year, MAS hosts the Global FinTech Hackcelerator which seeks to apply innovative market-ready solutions to address real industry needs.
This year’s focus is on Green Finance and we have published collected from the industry. FinTech firms and solution providers are encouraged to (4.3 MB)for the Global FinTech Hackcelerator should their market-ready solution be able to solve any problem statements. Registration closes 4 July 2021.
The Global FinTech Hackcelerator 2021 is supported by: