Tag "Monetary Authority of Singapore"

The Future of Cross-Border Transfers Could Be Central Bank-Backed Digital Currency

As we slowly but surely move towards a global village into a reality, the overall value of cross-border payments is also expected to rise by 5.5% yearly, increasing from US$22 trillion in 2016 to US$30 trillion in 2022. Yet, according

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MAS to Invest SG$6.9 Bil Into Private Equity and VCs To Spur Ecosystem Growth

The Monetary Authority of Singapore (MAS) announced the launch of a new US$5 billion (SG$6.91 billion) worth private market programme. MAS will be allocating this amount of its own funds as its investment portfolio in the private markets asset class.

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Singapore Uses AI to Give SMEs Access to International Trade Opportunities

The Monetary Authority of Singapore (MAS) and Infocomm Media Development Authority (IMDA) are partnering with six private sector partners to create a Proof of Concept hybrid business data and digital solutions hub. The initiative will leverage on Artificial Intelligence (AI)

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UOB & Intel Want to Use Artificial Intelligence to Combat International Money Laundering

United Overseas Bank (UOB) today announced it  collaborated with Intel to test how federated advanced data analytics can enhance cross-border anti-money laundering (AML) efforts. The project was co-funded by the MAS’ Artificial Intelligence and Data Analytics (AIDA) Grant under the

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MAS Warns Public Against Websites Faking DPM Tharman’s Quotes to Sell Bitcoin

The Monetary Authority of Singapore (MAS) has issued a warning about fraudulent websites soliciting bitcoin investments using fudged comments that they’ve attributed to MAS Chairman and Deputy Prime Minister, Tharman Shanmugaratnam. Screenshots of the website depict fake articles that are

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MAS Consults On Measures To Strengthen Cyber Resilience Of Financial Institutions

The Monetary Authority of Singapore (MAS) issued for consultation proposed requirements for financial institutions (FIs) in Singapore to implement essential cyber security measures to protect their IT systems. These requirements will help FIs strengthen their cyber resilience and guard against cyber

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Top-5 Countries to Setup Fintech & Blockchain Startups

While the coherent regulation of blockchain and fintech industry is yet to be developed, fintech startups find themselves navigating through regulatory jungles of various dos and don’ts when formulating their business models. Recent actions and statements of most state regulators

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A Rewards Platform for SMEs Cinches Polytechnic Students Victory in MAS Hackathon

The Monetary Authority of Singapore, together with five local polytechnics and 12 industry partners came together to hold the inaugural PolyFinTech 100 API Hackathon. The hackathon which started on the 2nd of June drew in close to 130 participants, who

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After Temasek Investment, P2P Lender Validus Surpasses $100 Mil In Funding

Validus, co-founded by former DBS Bank SME head Ajit Raikar is a peer-to-peer (P2P) lending platform that helps connect Singapore’s small and medium enterprises (SMEs) to accredited investors and financial institutions. Just recently, they announced that they have facilitated over

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FinTech Cooperation between Singapore and India

The Department of Economic Affairs (DEA), Government of India, and the Monetary Authority of Singapore (MAS) signed a Memorandum of Understanding to strengthen cooperation in financial innovation between Singapore and India, through the establishment of a Joint Working Group (JWG).

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