Singapore's MAS commits S$250m to accelerate innovation, technology adoption in financial sector

Singapore's MAS commits S$250m to accelerate innovation, technology adoption in financial sector
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SINGAPORE (Aug 13): The Monetary Authority of Singapore (MAS) said it will commit S$250 million (RM764.5 million) over the next three years to accelerate technology and innovation-driven growth in the financial sector under the enhanced Financial Sector Technology and Innovation Scheme (FSTI 2.0).

The enhanced scheme, which builds on the FSTI scheme introduced in June 2015, also aims to strengthen support for large-scale innovation projects and build a stronger pipeline of Singaporean talents in fintech.

The launch of FSTI 2.0 was announced by MAS managing director Ravi Menon at the “Singapore Fintech Festival: Green Shoots Series”, which are virtual meet-ups for the fintech community to share practical advice on topics such as bolstering cash flows to ensuring cybersecurity in times of increased remote work arrangements ... (click on link for full story on theedgesingapore.com).