Submissions open for inaugural FinTech Awards

The logo of the Monetary Authority of Singapore is seen on its main building in Singapore on May 24, 2016.
The logo of the Monetary Authority of Singapore is seen on its main building in Singapore on May 24, 2016.PHOTO: AFP

An inaugural suite of awards to recognise impactful and creative ideas in fintech is 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 conferred 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.

One recipient will get $150,000 for the ABS Global FinTech Award.

A panel of judges comprising experts from venture capital, accelerators, consultancies, industry associations and the Government will evaluate the entries.

"It is our belief that such recognition will help foster a culture of innovation within the financial sector," said MAS chief fintech officer Sopnendu Mohanty. The ABS hopes its 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".

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

A version of this article appeared in the print edition of The Straits Times on August 02, 2016, with the headline 'Submissions open for inaugural FinTech Awards'. Print Edition | Subscribe