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MAS Commits S$150mn For Innovation

MAS Commits S$150mn For Innovation

by Starling Insights

Starling Insights Editorial Board

Aug 21, 2023

Observations

AI Innovation & Technology Innovative Approaches ESG Singapore MAS Public-Private Partnership

The Monetary Authority of Singapore (MAS) recently announced the renewal of the Financial Sector Technology and Innovation Scheme (FSTI 3.0) with a commitment of up to S$150 million over a period of three years. FSTI 3.0 aims to enhance innovation within the financial sector by supporting projects involving advanced technologies or with regional significance.

"Since 2015, the Financial Sector Development Fund (FSDF) has awarded $340 million as part of the FSTI program to drive the adoption of technology and innovation in the financial sector," said Ravi Menon, Managing Director of MAS. "With FSTI 3.0, we look forward to continued collaboration with the industry to advance purposeful financial innovation."

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