Tag "MAS"
Are Digital Banks Breeding a Risky Competitive Climate in Singapore?
Technological developments have accelerated the transformation of financial services, leading to the explosion of digital banks worldwide. In Singapore, the entry of digital banks into the local financial system is driving economic innovation and enhancing financial inclusion, according to a
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Singapore and Thailand to Enable Cross Border Payments Using Only Mobile Numbers in 2021
During the Singapore Fintech Festival 2020, Ravi Menon, Managing Director, Monetary Authority of Singapore (MAS) announced that the regulator has made significant headway in the linkage between Singapore’s and Thailand’s national payment systems; PayNow and PromptPay respectively. Monetary Authority of
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Meet the 20 Global Fintech Hackcelerator 2020 Finalists by MAS
The Monetary Authority of Singapore (MAS) has announced the 20 finalists for the 2020 Global FinTech Hackcelerator. The finalists will pitch their solutions at the Global FinTech Hackcelerator Demo Day at the Singapore FinTech Festival x Singapore Week of Innovation
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MAS’ Chief Fintech Officer on Making Singapore a World Leader in Digital Banking
Over the past couple of years, Singapore has emerged as one of the fintech’s top hotspots in the world. Today, the city state is home to 43% of all fintech companies in Southeast Asia: that’s about 750+ organizations. Since being
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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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MAS Unveils FEAT Principles to Promote Responsible Use of AI and Data Analytics
The Monetary Authority of Singapore (MAS) has released a set of principles to promote fairness, ethics, accountability and transparency (FEAT) in the use of artificial intelligence (AI) and data analytics in finance. Known as the FEAT Principles, the document provides
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Singapore and Nasdaq Partnership for Blockchain Settlement of Tokenised Assets
The Monetary Authority of Singapore and Singapore Exchange announced a collaboration to develop Delivery versus Payment (DvP) capabilities for settlement of tokenised assets across different blockchain platforms. This will allow financial institutions and corporate investors to carry out simultaneous exchange and
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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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MAS Directs Financial Institutions to Tighten Customer Verification Process
The Monetary Authority of Singapore (MAS) has issued a circular to all financial institutions, directing them to tighten their customer verification processes. This follows the recent cyber attack at SingHealth where personal information of 1.5 million individuals was illegally accessed
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