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 Published Date: 10 December 2020

MAS Announces Winners of the 2020 Global FinTech Innovation Challenge

Singapore, 10 December 2020... The Monetary Authority of Singapore (MAS) announced today the results of the 2020 MAS Global FinTech Innovation Challenge. Under the theme of “Building Resilience, Seizing Opportunities, Emerging Stronger”, three winners for the Global FinTech Hackcelerator and twelve winners for the FinTech Awards have been selected for their solutions that address the challenges faced by the financial industry due to the COVID-19 pandemic and climate change. Both awards were handed out today at the Singapore FinTech Festival x Singapore Week of Innovation and TeCHnology (SFF x SWITCH) 2020.

2.      The winners of the Global FinTech Hackcelerator were selected during the Global FinTech Hackcelerator Demo Day, where they had pitched their innovations to an industry panel from around the world. The Local Programme of the Global FinTech Hackcelerator was supported by KPMG Digital Village. The top three teams are (in no order of merit):

Company Name Solution Name  Prize Money
Matter Matter Analytics   S$50,000
RegulAItion Ltd  AIR Platform  S$50,000
Intensel Limited Advanced Physical Climate Risk Analytics  S$50,000

3.      The winners of the FinTech Awards, supported by PwC Singapore, were selected from a total of 326 submissions from across 55 countries. The twelve winners were selected under four categories – Singapore Founder, ASEAN FinTech, Singapore Financial Institution and Global  – by an international panel comprising industry experts across multiple domains. The winners are:

Award Category  Placing Company Name  Solution Name Country   Prize
Singapore Founder 1st Triterras Fintech Pte. Ltd. Kratos Singapore  S$150,000
2nd finChat Technology Pte Ltd Wealth Chat Singapore  S$100,000
3rd  Hashstacs Pte Ltd Trident Platform – End to End Bond Lifecycle in a Box Singapore  S$50,000
ASEAN FinTech 1st AwanTunai, Windy Hill Pte. Ltd AwanTunai digitising supply chain transaction data Singapore  S$150,000
2nd NXTBK, Inc. Nextbank Cloud 'Bank-in-a-box' Philippines  S$100,000
3rd FlexM Pte Ltd. Agrani Remit App powered by FlexM’s Fintech-as-a-Service solution Singapore  S$50,000
Singapore Financial Institution 1st Validus Capital Pte Ltd Validus Credit and Customer Monitoring System (CCAAT) Singapore  S$150,000
2nd Oversea-Chinese Banking Corporation Limited HealthPass by OCBC Singapore  S$100,000
3rd DBS Bank Credit Architecture Programme – Credit eMemo Singapore  S$50,000
Global 1st Swiss Reinsurance Company Ltd. Beijing Branch SRAIRMP (Swiss Re Agriculture Insurance Risk Management Platform) Switzerland  S$150,000
2nd AIZEN Global Co., Inc. ABACUS / Credit Card Payment Fraud Detection System with Deep Learning Republic of Korea  S$100,000
3rd The Bank of New York Mellon Corporation Changing the Way Institutional Investors Manage, Monitor & Analyse ESG Factors across their Portfolio United States  S$50,000

4.      Mr Sopnendu Mohanty, Chief FinTech Officer, MAS, said, “The Global FinTech Hackcelerator and the FinTech Awards have served as key platforms to identify and recognise innovative, high quality solutions that are able to address real needs in the financial industry. This year, MAS chose the theme of “Building Resilience, Seizing Opportunities, Emerging Stronger” for the FinTech Innovation Challenge, as a clarion call to FinTechs to play a greater role in addressing the generational challenges of COVID-19 and climate change. We are pleased to see this year’s winners demonstrate strong potential in helping the industry tackle these critical issues. MAS would also like to thank KPMG Digital Village and PwC Singapore for their continued support.”

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