Monetary Authority of Singapore announces FinTech Hackcelerator finalists

The Monetary Authority of Singapore has announced the 60 finalists for its latest Global FinTech Hackcelerator and Global FinTech Awards.

This year’s Hackcelerator theme is “Harnessing Technology to Power Green Finance.” There were 20 FinTech companies selected for the final, with each aimed at accelerating green finance development in Singapore and the region.

Finalists will pitch their solutions, with the top three receiving a SGD 150,000 ($111,100) prize. All participants will be awarded a cash grant of up to SGD 20,000 ($14,800) and will be eligible for a fast-tracked application process to receive a cash grant of up to SGD 200,000 ($148,000)

The regulator stated ten finalists were each shortlisted through the Local Programme and the International Partner Programme.

MAS also revealed the 40 finalists for its SFF Global FinTech Awards, which is supported by PwC Singapore.

A total of 298 submissions were received for the awards, which is themed around, “emerging from a pandemic, the road to recovery”.

MAS chief FinTech officer Sopnendu Mohanty said, “COVID-19 challenges have catalysed rapid innovation and consumer adoption of digital services. We have also seen sustainability and resiliency becoming key elements of future business operating models. This year’s FinTech Awards will highlight the importance of investing in innovation to foster an inclusive global recovery.

“In addition, we have focused the Global FinTech Hackcelerator around Green FinTech as we strive to harness technology to support the transition to a low carbon economy, regionally and globally. We look forward to seeing finalists of both initiatives achieve great success and become game-changers in the FinTech community.”

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