MAS and SFA Announce Award Winners at Singapore FinTech Festival 2023
Singapore, 16 November 2023... The Monetary Authority of Singapore (MAS) and the Singapore FinTech Association (SFA) today announced the winners of the Global FinTech Hackcelerator and the SFF Global FinTech Awards at the Singapore FinTech Festival (SFF) 2023. The winners, comprising financial institutions, FinTechs and solution providers, were recognised for their ground-breaking solutions that address challenges faced by the financial services industry.
Global FinTech Hackcelerator
2. This year’s Global FinTech Hackcelerator, conducted in partnership with AI Singapore and powered by Oliver Wyman, is themed “Artificial Intelligence (AI) in Finance Global Challenge”, with the objective of producing innovative and market-ready AI solutions that can transform the financial services industry. The winners of the Global FinTech Hackcelerator were selected on Demo Day, held during SFF on 15 November 2023. 19 finalists pitched their innovations to an international industry panel comprising academics, AI technical specialists and industry practitioners (further details on the copetition and the judging panel are at Annex A).
3. The top three teams (in alphabetical order and in no order of merit) that will receive S$50,000 each in prize money are:
|Company Name||Solution Name||Country|
5. Toggle AI’s solution offers a chat interface that enable investors to access information about the market and their portfolio, providing them with curated insights to make informed investment decisions.
6. Visa Inc.’s solution enables corporates to score and forecast carbon emissions based on card and non-card transaction data, and provide customised recommendations to achieve a net zero carbon footprint.
SFF Global FinTech Awards
7. The Awards, supported by PwC Singapore, seek to recognise innovative FinTech solutions by corporates and individuals that have been instrumental in transforming FinTech industry practices, and spearheading the use of new technologies in creating new growth opportunities, promoting financial inclusion, and enhancing the delivery of financial services.
8. The 13 winners across six award categories were selected from a total of 96 submissions. New thematic categories in AI and Environmental, Social and Governance (ESG) FinTech were introduced this year. The winners were chosen by an international panel comprising industry experts across multiple domains (more details on the competition and the judging panel are at Annex B).
9. The winners for the Corporate Categories for the SFF Global FinTech Awards 2023 are
|Award Category (Corporates)||Placing||Company Name|
||1st||Algogene Financial Technology Company Limited|
|ASEAN FinTech||1st||Advance Intelligence Pte Ltd|
|Singapore FinTech||1st||Whitechalk Pte. Ltd.|
|Thematic (AI)||-||MoolahGo Pte Ltd|
|Thematic (ESG FinTech)||-||KoinWorks|
|-||Zuno Pte. Ltd.|
|Award Category (Individual)||Individual Name||Company Name|
|Leaders||Nikhilesh Goel||Validus, Co-founder and Group CEO|
|Jacqueline Pang||Artius Global, CEO and Managing Director|
|Bo Bai||MVGX, Executive Chairman and Co-founder|
11. Mr Sopnendu Mohanty, Chief FinTech Officer, MAS, said, “The Global FinTech Hackcelerator and the Global FinTech Awards continue to serve as a key platform to harness the potential of innovative, impactful solutions that address real needs in the financial industry. We are pleased to see the winning entries display exceptional capabilities in creating new growth opportunities and enhancing the delivery of financial services. Our heartiest congratulations to all the winners!”
12. Prof Mohan Kankanhalli, Deputy Executive Chairman, AI Singapore, said, “Congratulations to all the winners of the AI in Finance Global Challenge! This year’s Global FinTech Hackcelerator has seen many creative and innovative applications of AI in Finance. We are hoping to see the winning teams continue to grow, develop and scale beyond this Hackcelerator to unlock greater potential for the sector.”
13. Mr Shadab Taiyabi, President of SFA, said, “Sincere congratulations to the winners of the Global FinTech Hackcelerator and the Global FinTech Awards! As the FinTech sector evolves, we are proud to see Singapore remain as a key hub in the region, and this wouldn’t be possible without the great efforts of our FinTechs. We look forward to seeing the impact of more excellent work from the winners as they continue to shape the future of FinTech.”
The eighth edition of the Singapore FinTech Festival came to a close on 17 November 2023, drawing a record 66,000 participants, up from 62,000 attendees in 2022.
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