SINGAPORE, November 8, 2023 – The Monetary Authority of Singapore (MAS) and the Singapore FinTech Association (SFA) recently announced the finalists of the 2023 Singapore FinTech Festival (SFF) Global FinTech Awards.
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.
Submissions were received across six award categories. For the five Corporate categories, 72 submissions were received, of which six finalists were shortlisted for each category. For the Individual category, 24 submissions were received for the Leaders Award, of which six finalists were shortlisted. New thematic categories in Artificial Intelligence (AI) and Environmental, Social and Governance (ESG) FinTech were introduced this year.
Mr Sopnendu Mohanty, Chief FinTech Officer, MAS, said, “The strong support for the new ‘FinTech Gives Back’ initiative is a testament to the industry’s spirit of innovation, growth, and commitment to a brighter future. It is an inspiring example of how success can be leveraged to uplift and empower the entire FinTech ecosystem.”
In the AI category, shortlisted solutions demonstrated the use of alternative data sources such as telecommunication data for credit risk profiling for the training of AI models.
Shortlisted solutions under the ESG FinTech category heavily focused on solving fragmentation of data sources so that effective ESG models can be developed to monitor a firm’s pathway to net zero.
A new component was introduced for the Awards this year. Through the ‘FinTech Gives Back’ initiative, members of the FinTech community contributed generously towards the prize monies for the Awards, to show their support for nurturing the next generation of FinTechs and rewarding innovation. This year, OKX, Ripple, NETS, YouTrip, Pingpong and Syfe have generously contributed to this meaningful cause. This initiative will continue to feature in future editions of the Awards.
Mr Shadab Taiyabi, President, SFA, said, “We want to extend our congratulations to all the nominees announced today. The addition of the ‘FinTech Gives Back’ initiative is especially exciting to see, with FinTech community leaders helping to nurture the next generation of talent. The work displayed in these nominations is testament to the strong FinTech talent pool in Singapore.”
The winners of the Awards, together with the top three winners of the Global FinTech Hackcelerator 2023 will be announced on 16 November 2023, at the SFF Global FinTech Awards Dinner.