SINGAPORE - An inaugural suite of awards which aim to recognise impactful and creative ideas in fintech are open for submissions.

The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) are calling for submissions for the FinTech Awards, which will be given out during the Singapore FinTech Festival in November.

The awards will recognise innovative fintech solutions that have been implemented by companies and financial institutions. To qualify, the projects must have been implemented before June 30.

Up to nine recipients of the MAS FinTech Awards will each receive between $50,000 and $250,000.

At most one recipient will get $150,000 for the ABS Global FinTech Award.

Submissions can be made at http://www.fintechfestival.sg/fintech-awards/ and are open until Aug 31.