The Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) recently announced that 40 finalists have been shortlisted for the FinTech Awards to be presented at this year’s Singapore FinTech Festival x Singapore Week of Innovation and Technology (SFF x SWITCH).
The finalists were selected by a panel of industry judges from a total of 245 Many of the submissions from the growing FinTech community came from sectors such as RegTech, wealth management and cybersecurity. Financial inclusion was also a key area of focus amongst this year’s finalists, with a significant number of submissions geared towards improving banking access for underserved individuals as well as small and medium enterprises.
The finalists will pitch their innovations during SFF x SWITCH, and compete for a total of S$1.2 million in prize The winners of the FinTech Awards will be announced at SFF x SWITCH. The 40 finalists of the FinTech Awards will also be invited to a dedicated Deal Friday2 networking session organised by MAS and PwC Singapore just for them to showcase their innovations to investors.
Sopnendu Mohanty, Chief FinTech Officer, MAS, said, Several of our FinTech Awards finalists from past years have gone on to achieve success in the industry3. This year, it is heartening to see a growing number of submissions promoting financial inclusion and We are inspired by the innovative ways in which FinTechs are solving business challenges on a global scale. We look forward to seeing the finalists present their solutions to prospective partners and investors, and benefit from this exposure, at SFF x SWITCH and Deal Friday.
The FinTech Awards is organised in partnership with PwC Singapore. One of the awards in the Global category, the Global Award, is given out by The Association of Banks in Singapore (ABS).
Deal Fridays are curated deal-making sessions for facilitating investment into They are held every Friday from 21 June to 25 October 2019. The 40 finalists of the FinTech Awards will have a dedicated Deal Fridays session just for them to network and pitch to investors.
Ms Wong Wanyi, FinTech Partner, PwC Singapore’s Venture Hub, said, We are very honoured to be a strategic partner of MAS and to have jointly organised the FinTech Awards for three consecutive years, including Deal Friday sessions this Over the years, we have witnessed a surge in the quality and innovativeness of the FinTech Awards submissions, many of which have proceeded with regional expansions. We are excited for these successful companies, and will continually support the FinTech initiatives to grow together as a community.
FinTech Awards :
The FinTech Awards recognises innovative FinTech solutions that have been implemented by FinTech companies, financial institutions and technology companies.
Up to 12 winners will be selected under four categories – Singapore Founder4, ASEAN SME5, ASEAN Open 6 and Global 7 by an international panel comprising industry experts across multiple domains. All finalists will be evaluated on four criteria: (i) Impact, (ii) Practicality, (iii) Interoperability, and (iv) Uniqueness and Creativity.
- Singapore-based SMEs with at least one Singaporean The term ‘founder’ is defined as an individual who was instrumental in setting up the SME. There is no need for majority share-ownership. The SME must have a physical office registered in Singapore, and the solution must have been implemented in Singapore.
- ASEAN-based SMEs (Small and Medium Enterprises). SMEs, as defined by Enterprise Singapore are enterprises with an annual sales turnover of not more than SGD$100 million OR an employment size of not more than 200 Enterprises qualify as SMEs as long as they satisfy at least one of the two parameters.
- ASEAN-based companies of any The company must have a physical office registered in at least one ASEAN country, and the soluti on must have been implemented/deployed in at least one ASEAN country. The Open category allows companies of any size to participate, such as financial institutions and large technology vendors (e.g. Google).
- One of the awards in the Global category is given out by The Association of Banks in Singapore (ABS).
• For details of the FinTech Awards 2019 finalists visit here : https://www.fintechfestival.sg/media-releases/12-40-innovative-solutions-shortlisted-for-2019-fintech-awards
