This track is open to Singapore-based financial institutions (FIs) and FinTechs. Each applicant is limited to a maximum of two applications under the track over the scheme period.

Projects should involve innovative solutions aligned with at least one of MAS' focus areas: 

• Artificial Intelligence (AI); 
• Distributed Ledger Technology (DLT); or 
• Quantum Technology (QT). 

Projects should demonstrate significant business impact, technical feasibility, and innovativeness of the solution. Routine digitalisation efforts, such as the implementation of off-the-shelf solutions, or projects that primarily improve process efficiency, are not eligible for funding. 

Where a project may disrupt the existing workforce, applicants should provide a preliminary assessment of the nature and scale of such disruption.

• Up to 50% of qualifying expenses, capped at maximum grant quantum of S$1 million.
• Funding period of up to 24 months.
• Qualifying expenses include manpower (base salaries), professional services, hardware/software infrastructure, subscriptions and licences, IP rights, and external auditor's certification.

Interested parties may engage MAS to discuss their proposed project at fintech_office@mas.gov.sg . Applicants should submit their applications ahead of the intended project commencement to facilitate project discussions and processing.