The Asian Institute of Digital Finance (AIDF) has been officially launched in Singapore by Heng Swee Keat, the Deputy Prime Minister and Coordinating Minister for Economic Policies.
The Monetary Authority of Singapore (MAS), the National Research Foundation (NRF) and the National University of Singapore (NUS) had jointly set up the research institute to develop deep capabilities to support the needs of digital financial services in Asia.
AIDF said that it aspires to be a thought leader, a fintech knowledge hub, and an experimental site for developing digital financial technologies as well as for nurturing current and future fintech researchers and practitioners in Asia.
One of AIDF’s core mission will be to train future fintech talents by partnering close to 20 leading banks, fintech firms, and other industry players.
AIDF will offer a Master’s programme and award scholarships to outstanding students to pursue research at the doctoral level, as well as train post-doctoral fellows in digital finance and fintech that will be hosted at NUS.
Additionally, the research institute will also be contributing to the development of green finance. It has established a green fintech collaboration with MUFG, two Singapore-based fintechs – iAPPS and CriAT, and a few NGOs including the Zoological Society of London.
This collaboration seeks to develop evidence-based approaches to measure green initiatives in agricultural supply chains, using IOT and satellite maps.
This is in line with Singapore’s goal to position itself as a key node for green finance.
“The Asian Institute of Digital Finance can only succeed if they have the fullest support from all stakeholders. Sitting in the audience today and online include banking veterans, technology experts and leading academics. You will collectively drive the next bound of digital growth and new breakthroughs.
We must use digital finance in a way that will make a positive difference to the lives of people and to our environment. We must use FinTech to drive innovation and help transform companies and industries.”
said Heng Swee Keat, the Deputy Prime Minister and Coordinating Minister for Economic Policies.
