GFTN Unveils Board of Directors and Advisory Board to Drive Financial Innovation

SINGAPORE, November 6, 2024 – The Global Finance & Technology Network (GFTN), a new initiative founded by the Monetary Authority of Singapore (MAS) to advance innovation in the financial sector, has today announced the formation of its Board of Directors and International Advisory Board. These two governing bodies will steer GFTN’s mission to create more resilient, inclusive financial ecosystems worldwide through the power of technology and global collaboration.

Ravi Menon, Ambassador for Climate Action and former Managing Director of MAS, will serve as Chair of GFTN’s Board of Directors. Joining him as Deputy Chairs are Leong Sing Chiong, Deputy Managing Director at MAS, and Neil Parekh, Nominated Member of Parliament and Non-Executive Chairman of Tikehau Capital. The Board also includes other leaders across finance, technology, and academia:

Iqbal Jumabhoy – CEO, ProsperCap Corporation Limited

Professor Lam Khin Yong – Vice President (Industry), Nanyang Technological University Singapore

Andrew Lim – Partner, Allen & Gledhill

Jessica Tan – Group Executive Vice President and President, Sunlife Canada

Sopnendu Mohanty – Group CEO-Designate of GFTN and Chief FinTech Officer at MAS

Complementing the Board of Directors, GFTN’s International Advisory Board includes prominent figures in finance and technology, such as Dominic Barton, Chairman of LeapFrog Investments and Rio Tinto, Hon. Paula Ingabire, Rwanda’s Minister of ICT and Innovation, Eric Jing of Ant Group, former Central Bank governors Dr Patrick Njoroge of Kenya and Dr Veerathai Santiprabhob of Thailand, and Dr Axel Weber, a financial veteran with previous leadership roles at UBS and Deutsche Bundesbank.

Mr Menon shared his excitement about the Board’s strong composition: “I am honoured to be joined by an outstanding group of individuals. Together, we aim to harness innovation in financial ecosystems to create economic opportunity, strengthen resilience, improve people’s lives, and secure a more inclusive and sustainable future for all.”

Launched by MAS in October, GFTN aims to drive technological transformation across financial systems, organising forums, providing advisory services, and supporting high-potential tech startups through its venture fund. It builds upon the work of Elevandi, a non-profit MAS initiative established in 2021, now broadened and re-envisioned as GFTN to address the evolving challenges and opportunities in global finance.

The network’s dual board structure underscores GFTN’s commitment to forging international partnerships, fostering innovation, and reinforcing economic resilience for a rapidly changing digital financial landscape.