The Monetary Authority of Singapore (MAS) has created a new entity to foster an open dialogue between the public and private sectors, hoping to harness fintech for growth and development in the new digital economy.
It’s called Elevandi and the plan is to build a global knowledge and collaboration platform. It aims to bring together the global financial and fintech community to address pain points in the workings of the financial system. It will also harness technology and innovation in finance to improve the well-being of individuals, economies and societies.
Elevandi, which means to raise up, is a company limited by guarantee (CLG). It will also spearhead future growth of the Singapore FinTech Festival (SFF) and lead a series of new initiatives which will provide year-round engagement with the global fintech community.
An international Board of Directors will oversee its mission and work. The Board includes members from the public sector, financial services sector and experienced global industry leaders. Each Director will contribute unique perspectives on the current and future state of fintech and insights across key global markets.
Sopnendu Mohanty, Chief FinTech Officer at MAS, will be one of the Directors. He said: “For the last five years, MAS has grown the SFF into a leading global platform for fintech. It is now time for the SFF to further a global mission. Singapore has an important role to play as a knowledge centre and as a platform to enable greater collaboration and exchange between the public and private sectors around the world.”
A spokesperson told Next Money that to drive the next phase of growth, Elevandi will expand its programme of activities beyond the SFF to a broader range of engagement platforms to drive greater collaboration with the global fintech community.
Elevandi’s activities will include:
- Green Shoots Series, monthly meetups for the global fintech community to discuss critical topics trending in FinTech and the digital economy;
- Deal Fridays, monthly events between investors and start-ups to drive deal-making opportunities;
- Oxygen by APIX, an upskilling platform for financial institutions, fintechs and tech enthusiasts with carefully curated masterclasses, panels, podcasts and research content from industry experts dedicated to promoting worldwide knowledge sharing;
- Elevandi Forum, purpose-driven roundtables aimed at bringing the public and private sectors together to advance developments and issues within the fintech industry;
- Elevandi FinTech Insider Report, an annual report on digital advancements for the global fintech industry.