The Monetary Authority of Singapore and the Association of Banks in Singapore have awarded 10 fintech companies a total of more than one million Singapore dollars at the fintech awards.
Organised as part of the Singapore FinTech Festival, the «FinTech Awards» recognise innovative fintech solutions that have been implemented by fintech start-ups, financial institutions, and technology companies.
The fintech awards received over 200 global submissions, with the bulk coming from Asia Pacific, and the list was narrowed to 40 finalists.
In Total 200 Submissions
The winners awarded with a total sum of S$ 1,15 million 3were selected by a panel of judges, representing a cross-section of international and local experts from the private and public sector. The entries were evaluated based on criteria such as impact, practicality, interoperability, and uniqueness and creativity.
Here are the top winners and their solutions:
BioCatch: Authenticate online users and detect threats and fraud
fastacash: Pay for goods over social
Tookitaki: Machine Learning (ML)-powered KYC Audito
CashRun: More than just fraud prevention
Here are all winners:
All Winners 500
Ravi Menon, Managing Director, MAS, presented prizes to the winners of the «Global FinTech Hackcelerator», which was earlier held on Tuesday. The top three teams each won a cash prize of S$50,000.
Sopnendu Mohanty, Chief Fintech Officer of MAS, said: »The MAS FinTech Awards celebrate the spirit of innovation and creativity within Singapore’s financial sector. We were impressed by the technical quality and breadth of the solutions, many of which spanmultiple business areas.»
«We look forward to seeing how these solutions can redefine and improve the way we experience financial services,» Ong-Ang Ai Boon, ABS Director, said.
«The generation and incubation of new ideas and solutions for the industry plays an important role in strengthening strategic competitiveness in this digital age. ABS hopes for sustained collaborative efforts within the industry, as Singapore strives towards innovation and excellence as an international financial hub,» Ong-Ang Ai Boon added.