Media Releases
Published Date: 12 November 2021

MAS and SFA Announce Award Winners at Singapore FinTech Festival

Singapore, 12 November 2021... The Monetary Authority of Singapore (MAS) and the Singapore FinTech Association (SFA) announced the award winners of the Global FinTech Hackcelerator, the SFF Global FinTech Awards and the Most Innovative FinTech e-Gifting Award, at the Singapore FinTech Festival. The winners, comprising financial institutions, FinTechs and solution providers, were recognised for their ground-breaking solutions that promote financial inclusion and sustainable development in the financial industry.  

Global FinTech Hackcelerator

The theme for this year’s Global FinTech Hackcelerator is “Harnessing Technology to Power Green Finance”.  The winners of the Global FinTech Hackcelerator were selected at Demo Day, held during SFF on 8 November 2021, where 20 finalists pitched their innovations to an international industry panel. Please refer to Annex A for the details of the competition and the judging panel.  The top three teams are (in no order of merit)The top three winners will receive S$50,000 each in prize money.:

Company Name Solution Name Country
Descartes Insurance Asia Pte Ltd Descartes’ Parametric Insurance   France

RootAnt Global Pte Ltd and

Global Initiatives Communications Pte Ltd

Descartes Insurance’s winning solution processes data from satellite imagery, IoT, radars and sensors of partners to provide insurance coverage on natural catastrophic events with guaranteed and pre-determined payouts, which would be disbursed within a few days of the event. RootAnt and Global Initiatives’ solution incorporates sustainability elements onto a digital platform to assess the sustainability preparedness of SMEs suppliers in the value chain, and empower them to raise green financing from banks. YOUKI’s WATTIFY tokenises renewable energy assets into investment products with smaller ticket size to increase its accessibility to a wider pool of investors. It also facilitates the onboarding of investors in a manner conforming to regulations, and matches investors with appropriate investment opportunities.  

SFF Global FinTech Awards 

The SFF Global FinTech Awards brings together the FinTech Awards previously presented separately by MAS and SFA. The theme for this year’s Awards is “Emerging from a pandemic, the road to recovery.”

The 49 winners across 12 award categories were selected from a total of 298 submissions. The winners were chosen by an international panel comprising industry experts across multiple domains. Please refer to Annex B for the details of the competition and the judging panel.

6 The winners for the SFF Global FinTech Awards 2021 (presented by MAS) areThe prize money for each of the top 3 winners of the respective award categories is as follows: 1st Place: S$150,000; 2nd Place: S$100,000; 3rd Place: S$50,000

Award Category  Placing  Company Name  Solution Name 
 Singapore FinTech (Singapore Founder) 1st GoalsMapper Pte Ltd  GoalsMapper
2nd Aleta Planet Pte Ltd  AP-1 
3rd  Brick Pte Ltd  Financial Data APIs 
 ASEAN FinTech 1st  ShuttleOne Pte Ltd  ShuttleOne Network 
2nd  Regtank Technology Pte Ltd  Regtank Compliance Solution 
3rd  Funding Asia Group Pte Ltd  Modal Kawan Mikro (Micro Friends Capital) 
 Singapore Financial Institution 1st  Asia Wealth Platform Pte Ltd  StashAway Wealth Management Solutions 
2nd  NTUC Income Insurance Cooperative Limited  SNACK by Income 
3rd  Industrial and Commercial Bank of China Limited (Singapore Branch)  ICBC Digital Trade Solutions  
 Global 1st  ReMark International B.V.  Good Life & BAM 
2nd  FinScore Inc  FinScore A.C.E (Alternative Credit Evaluation) Portal 
3rd  Nect GmbH  Selfie-Ident 

7 The winners for the SFF Global FinTech Awards 2021 (presented by SFA) are:

Award Category (Individual)
(Winners are presented with a commemorative plaque) 
Individual Name  Company 
 Top 10 FinTech Leaders Caecilia Chu  YouTrip 
Calvin Choi  AMTD Digital
Dhruv Arora  Syfe 
Rahul Banerjee  BondEvalue  
Rob Schimek  Bolttech 
Tuhina Singh  Propine 
Valenzia Yap
PolicyPal Group 
Varun Mittal
Venkatesh Saha  Wise
Vikas Nahata  Validus 
 ASEAN FinTech Leaders Hendra Kwik  Fazz Financial Group 
Kanagasabapathy Surendran  CIMB Bank Berhad 
Marek Hovorka  Übank by VPBank 
Mark Lo  AMTD Group 
Sigit Kouwagam 
 Women in FinTech Melissa Wong  Bolttech 
Samantha Horton  Syfe Pte Ltd 
Smrithi Ravi Wise
 FinTech Leaders Under 30 Ian Lee
Merkle Science 
Lisa Schroeder  Vestr  
Milena Naitoh  Validus 
 Award Category (Corporate) Company
 FinTech Employer of the Year Advance Intelligence Group
Revolut Technologies Singapore  
Spark Systems  
 Knowledge Enterprise Award AMTD Group 
Apptio Singapore  
Smartkarma Innovations  
 Social Impact Award Credolab  
Western Union 
 Partners of FinTech AMTD Digital 
Digital Treasures Center  
F10 Global Innovation Network Singapore 
GrabTaxi Holdings  
Whitechalk (Surer) 

Innovative E-Gifting Solution Awards 

MAS encourages the public to use e-payments instead of physical notes for gifting during celebratory occasions and festivals, to build a greener and more sustainable future. The winners of the two new e-gifting awards are:  

  • DBS Bank – “Most Innovative Bank E-Gifting Solution” award
  • Singtel Dash – “Most Innovative Wallet E-Gifting Solution” award 

The entries were assessed by the Association of Banks Singapore (ABS) and SFA based on utility, impact, and innovation.The entries were assessed based on the extent to which the solution is simple, safe and speedy to use, how well the solution replicates the experience of traditional gifting methods (taking into account cultural norms and social behaviours) and how engaging and exciting the solution is to incentivise consumer adoption. Additional points were awarded to solutions that helped users reduce their carbon footprint. 

Mr Sopnendu Mohanty, Chief FinTech Officer, MAS, said, “The Global FinTech Hackcelerator, FinTech Awards and inaugural Innovative E-Gifting Solution Awards seek to champion and recognise innovative, high quality solutions that transform industry practices in the financial industry and develop opportunities for growth.  It is heartening to see many impactful leading-edge digital solutions competing for this year’s Awards. In particular, the winning entries from financial institutions, FinTechs and technology providers displayed strong potential to enhance the growth and resilience of the financial sector as economies recover from the pandemic. Heartiest congratulations to all the winners!”

10  Mr Shadab Taiyabi, President of SFA, said, “The ground-breaking and innovative solutions that were recognised during the Global FinTech Awards are testament to the potential that technology holds in addressing challenges faced by the financial industry. As the economy gradually moves into a post-pandemic recovery phase, SFA remains committed to supporting and encouraging financial innovation that seeks to harness technology to power green finance, create growth opportunities and promote financial inclusion. We wish the heartiest of congratulations to all winners of the Global FinTech Awards, Global FinTech Hackcelerator and E-Gifting Solution Awards, and hope that these are just the start to many more solutions to come in the future.”