The Monetary Authority of Singapore (MAS) and the National Research Foundation (NRF) announced that a FinTech Office will be set up on 3 May 2016 to serve as a one-stop virtual entity for all FinTech matters and to promote Singapore as a FinTech hub.

The FinTech Office will be co-led by Mr Sopnendu Mohanty, Chief FinTech Officer, MAS, and Mr Steve Leonard, Chief Executive Officer, SG-Innovate, with representatives from The Economic Development Board, Infocomm Investments Pte Ltd, Info-communications Media Development Authority, National Research Foundation and SPRING Singapore.

FinTech businesses intending to set up in Singapore can seek advice through the FinTech Office on various FinTech and technology-related government grants and schemes. The FinTech Office will:

  • review, align and enhance FinTech-related funding schemes across government agencies;
  • identify gaps and propose strategies, policies, and schemes in industry infrastructure, talent development and manpower requirements, and business competitiveness; and
  • manage the branding and marketing of Singapore as a FinTech hub through FinTech events and initiatives.

Source: Monetary Authority of Singapore (published on April 1, 2016)


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