The Monetary Authority of Singapore (MAS) has launched a S$1.75 million MAS Global FinTech Innovation Challenge.
The competition will seek innovative solutions that can help financial institutions respond to two critical global challenges: COVID-19 and climate change.
The theme is “Building Resilience, Seizing Opportunities, Emerging Stronger”. MAS aims to promote Fintech solutions that will help financial institutions adapt effectively to the new operating environment precipitated by the COVID-19 pandemic as well as apply fintech capabilities to spur the development of green finance in Asia and globally.
The competition is made up of the revamped MAS FinTech Awards and the MAS Global FinTech Hackcelerator. It will be hosted on the API Exchange, a cloud-based innovation platform, which will not only help to source for fintech solutions for specific focus areas, but also allow these solutions to be curated, contextualised and validated.
The MAS Fintech Awards are supported by PwC Singapore and are open to fintech firms, financial institutions and solution providers worldwide.