MAS and SFA Announce Award Winners at Singapore FinTech Festival

Singapore, 10 November 2022—The Monetary Authority of Singapore (MAS) and the Singapore FinTech Association (SFA) announced the award winners of the Global FinTech Hackcelerator and the SFF Global FinTech Awards, at the Singapore FinTech Festival (SFF). The winners, comprising financial institutions, FinTechs, and solution providers, were recognised for their innovative solutions that can help to accelerate the pace of digitalization, innovation, and sustainability in the financial industry.

Global FinTech Hackcelerator

The theme for this year’s Global FinTech Hackcelerator is “Accelerating A Greener Digital Future”, with dual focus on Web 3.0 and Green Finance. The winners of the Global FinTech Hackcelerator were selected at Demo Day, held during SFF on November 2, 2022, where 17 finalists pitched their innovations to an international industry panel. Please refer to Annex A for the details of the competition and the judging panel. The top three teams are (in no order of merit) [1] :

FQX’s solution offers a highly efficient infrastructure that provides on-chain settlement of tokenized debt securities. It enables cheaper issuance fees and increases capital efficiency.

Norbloc’s solution offers a digital onboarding platform that covers the whole know-your-customer (KYC) lifespan from data collection, management, and validation to data sharing and monetisation.

WeavAir combines cutting-edge AI analysis with new data sources like satellite imagery to gather accurate and real-time data which enables decision makers to achieve their ESG targets faster and more efficiently.

SFF Global FinTech Awards

The theme for this year’s SFF Global FinTech Awards is “Embracing Digital, Charting the New Normal.” The 36 winners across nine award categories were selected from a total of 223 submissions. The winners were chosen by an international panel comprising industry experts across multiple domains. Please refer to Annex B for the details of the competition and the judging panel.

The winners for the SFF Global FinTech Awards 2022 (presented by MAS) are [2] :

The winners for the SFF Global FinTech Awards 2022 (presented by SFA) are:

Mr. Sopnendu Mohanty, Chief FinTech Officer, MAS, said, “We are very encouraged by the innovative, cutting-edge solutions presented by the winners and finalists of this year’s Global FinTech Hackcelerator and FinTech Awards. The winning entries have demonstrated strong potential to tackle real-world problems, while allowing the financial sector to harness the tremendous benefits of new technologies in their journey towards a greener digital future. Our heartiest congratulations to all the winners of the Global FinTech Awards!”

Mr. Shadab Taiyabi, President of SFA, said, “Innovative technologies continue to hold tremendous potential in boosting FinTech offerings and shaping the broader financial sector. Through the Global FinTech Awards and the Global FinTech Hackcelerator, we want to celebrate and give recognition to individuals and enterprises that are making a positive impact on the FinTech ecosystem and at the same time, encourage and foster a culture of continued innovation within the FinTech sector.”

[1] The top three winners will receive S$50,000 each in prize money.

[2] The prize money for each of the top 3 winners of the respective award categories is as follows: 1st Place: S$150,000; 2nd Place: S$100,000; 3rd Place: S$50,000.