The Monetary Authority of Singapore has announced the 20 finalists for the Global FinTech Hackcelerator, with the finalists to pitch their solutions at the Global FinTech Hackcelerator Demo Day.
The finalists were selected through two parallel scouting programmes, one Singapore and one International Programme, to tackle problem statements originating from the financial industry in Singapore and the broader Asia region.
In the Local Programme, MAS shortlisted 10 winners from over 200 submissions, with problems categorised into four focus areas: Financial Inclusion, Insurance, Banking and Finance, and a General category.
The International Programme participants comprised 10 winners, two per country, from FinTech competitions in five countries (Abu Dhabi, Kenya, South Africa, United Kingdom and United States of America).
Mr Sopnendu Mohanty, Chief FinTech Officer, MAS, said, “The Global FinTech Hackcelerator continues to be a great platform for FinTechs to showcase and contextualise their innovative solutions for the industry. Many finalists from the past three years of this programme have gone on to achieve successes in the industry. Some of them have also secured partnership deals with their Global FinTech Hackcelerator corporate champions. We look forward to more success stories coming out from this year’s finalists.”
Mr Chia Tek Yew, Head of Financial Services Advisory, KPMG Singapore said, “The International Programme has allowed us to reach out to the international FinTech community and bring fresh ideas into the Global FinTech Hackcelerator programme. We found FinTech players with innovative solutions to address pressing issues, such as around financial inclusion, to help developing countries facing similar issues in the Southeast Asia region.”
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