The awards recognise innovative fintech solutions that have been implemented by fintech companies, financial institutions, and technology companies. To qualify, the projects must have been implemented before 30 June 2016. There are four categories:
a. MAS FinTech Awards (Singapore Founder): Singapore-based SMEs with at least one Singaporean founder
b. MAS FinTech Awards (Singapore SME): Singapore-based SMEs
c. MAS FinTech Awards (Singapore Open): Singapore-based companies of any size
d. ABS Global FinTech Award: Fintech project implemented in any part of the world
For the MAS FinTech Awards, up to nine recipients will each receive between S$50,000 and $250,000. The total quantum for the MAS FinTech Awards will be up to S$1 million. For the ABS Global FinTech Award, one recipient will receive up to S$150,000. The entries will be evaluated on:
a. MAS FinTech Awards (Singapore Founder): Singapore-based SMEs with at least one Singaporean founder
b. MAS FinTech Awards (Singapore SME): Singapore-based SMEs
c. MAS FinTech Awards (Singapore Open): Singapore-based companies of any size
d. ABS Global FinTech Award: Fintech project implemented in any part of the world
For the MAS FinTech Awards, up to nine recipients will each receive between S$50,000 and $250,000. The total quantum for the MAS FinTech Awards will be up to S$1 million. For the ABS Global FinTech Award, one recipient will receive up to S$150,000. The entries will be evaluated on:
Impact
Considerations will include productivity, profitability, user experience, risk management, knowledge-transfer, and applicability beyond the financial sector
Practicality
Examples include ease of implementation, scalability, and cost-effectiveness
Interoperability
Ability for the solution to interface with other systems
Uniqueness & creativity
Extent to which the solution differs from the status quo. One possible dimension could be through the approaches/technologies used to address specific problem(s).
Sopnendu Mohanty, Chief FinTech Officer of MAS, said “The MAS FinTech Awards and ABS Global FinTech Award represent the industry’s highest accolade for fintech innovation. These awards celebrate the spirit of innovation in the financial sector by providing recognition to innovative fintech projects that have been implemented in Singapore. It is our belief that such recognition will help foster a culture of innovation within the financial sector.”
ABS Director Mrs Ong-Ang Ai Boon added, “Innovation is at the heart of the technological revolution and our members know that engaging with external solution providers is the way forward for the industry to generate new ideas and meet their customers’ needs in the digital age. ABS hopes that our Global FinTech Award will spur more innovation and collaboration between fintech companies and our members so that Singapore can remain at the vanguard of change and maintain its role as an international financial hub.”
Interested?
Read the submission rules. Submissions will be accepted till 31 August 2016.
Read the TechTrade Asia blog post about the Singapore FinTech Festival
Sopnendu Mohanty, Chief FinTech Officer of MAS, said “The MAS FinTech Awards and ABS Global FinTech Award represent the industry’s highest accolade for fintech innovation. These awards celebrate the spirit of innovation in the financial sector by providing recognition to innovative fintech projects that have been implemented in Singapore. It is our belief that such recognition will help foster a culture of innovation within the financial sector.”
ABS Director Mrs Ong-Ang Ai Boon added, “Innovation is at the heart of the technological revolution and our members know that engaging with external solution providers is the way forward for the industry to generate new ideas and meet their customers’ needs in the digital age. ABS hopes that our Global FinTech Award will spur more innovation and collaboration between fintech companies and our members so that Singapore can remain at the vanguard of change and maintain its role as an international financial hub.”
Interested?
Read the submission rules. Submissions will be accepted till 31 August 2016.
Read the TechTrade Asia blog post about the Singapore FinTech Festival
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