The Monetary Authority of Singapore (MAS) and the Singapore FinTech Association (SFA) unveil finalists for the 2023 Singapore FinTech Festival Global FinTech Awards, recognizing innovative solutions shaping the industry.
The Monetary Authority of Singapore (MAS) and the Singapore FinTech Association (SFA) have revealed the finalists for the 2023 Singapore FinTech Festival (SFF) Global FinTech Awards. Supported by PwC Singapore, these awards aim to commend innovative FinTech solutions that have played a pivotal role in revolutionizing industry practices and driving the adoption of cutting-edge technologies to create new avenues of growth, enhance financial services, and promote financial inclusion.
Submissions were received across six award categories, including five corporate categories with 72 submissions, resulting in six finalists shortlisted for each category. In the Individual category, 24 submissions were received for the Leaders Award, and again, six finalists were selected. Notably, this year introduced new thematic categories in Artificial Intelligence (AI) and Environmental, Social and Governance (ESG) FinTech.
In the AI category, the shortlisted solutions showcased the utilization of alternative data sources, such as telecommunication data, for credit risk profiling in the training of AI models. Meanwhile, the ESG FinTech category focused on addressing data source fragmentation, enabling the development of effective ESG models to monitor a firm’s progress toward achieving net-zero goals.
A new feature introduced this year, the ‘FinTech Gives Back’ initiative, saw members of the FinTech community generously contribute towards the prize monies for the Awards, demonstrating their dedication to nurturing the next generation of FinTech innovators. Notable contributors this year include OKX, Ripple, NETS, YouTrip, Pingpong, and Syfe. This initiative is set to continue in future editions of the Awards.
Sopnendu Mohanty, Chief FinTech Officer at MAS, expressed his appreciation for the overwhelming support towards the ‘FinTech Gives Back’ initiative, highlighting its reflection of the industry’s spirit of innovation and commitment to a brighter future. He emphasized how success can be leveraged to empower the entire FinTech ecosystem.
Shadab Taiyabi, President of SFA, extended congratulations to all the nominees, particularly emphasizing the significance of the ‘FinTech Gives Back’ initiative in nurturing the next generation of talent. He noted the continued growth and strength of the FinTech scene in Singapore, even in the face of global economic challenges. Taiyabi reiterated SFA’s unwavering commitment to fostering innovation and diversity within the FinTech industry.
Wong Wanyi, FinTech Leader at PwC Singapore, commended the community’s support for ‘FinTech Gives Back’, highlighting its alignment with the underlying values of Singapore’s FinTech ecosystem. She noted the notable use of AI and ESG principles by organizations in this year’s SFF Global FinTech Awards. Wanyi congratulated all shortlisted applicants for their role in shaping the future of sustainable and inclusive finance, expressing excitement about the potential for future FinTech services and solutions that prioritize accessibility for businesses and individuals.
The winners of the Awards, along 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. For more detailed information on the Awards and the list of finalists, please refer to Annex A.
