Celebrating innovation and excellence in financial technology  

On November 7, 2024, the Monetary Authority of Singapore (MAS) and the Singapore FinTech Association (SFA) unveiled the winners of the Global FinTech Hackcelerator and the Singapore FinTech Festival (SFF) FinTech Excellence Awards. Recognizing financial institutions, FinTech companies, solution providers, and individuals, these awards honor groundbreaking solutions aimed at transforming financial services.  

Global FinTech Hackcelerator: Driving Financial Health Solutions  

The Global FinTech Hackcelerator, organized by MAS and the Global Finance & Technology Network (GFTN), focuses on “Improving Financial Health” by sourcing innovative, market-ready solutions. During the Demo Day held on November 6 at SFF 2024, 18 finalists presented their concepts to an expert judging panel.  

Top Three Winners  

The three winning teams, each awarded S$50,000, are:  

KaiOS Enable: Tomorrow  KaiOS, China

This gamified, interactive platform aims to improve financial literacy through feature phones, making it accessible even to individuals without smartphones. Using a “learn-to-earn” model, KaiOS enables users to earn points that can be converted into coins for savings or other financial services, creating a pathway toward financial inclusion.

 WeGro, Bangladesh     

An Agri-FinTech platform leveraging Open Banking and peer-to-peer (P2P) lending, WeGro offers loans, savings, and insurance products tailored to smallholder farmers. The platform integrates KYC verification, loan origination, product purchasing, and repayment, facilitating direct funding for farmers and fostering community-based financial support.

 Your Financial Wellness , Australia      

YFW provides a personalized, scalable platform that promotes financial literacy and well-being. Distributed via financial institutions and employers, YFW helps users set and achieve financial goals using data-driven personalisation. This innovative approach enhances engagement, literacy, and decision-making for individuals across diverse financial backgrounds.

 SFF FinTech Excellence Awards: Recognizing Innovation and Inclusivity  

The SFF FinTech Excellence Awards, jointly hosted by MAS and SFA with support from PwC Singapore, recognize companies and individuals that create new growth opportunities, promote inclusivity, and enhance financial services. With over 200 submissions, the awards celebrate eight winners across six categories.  

Corporate Category Winners  

 Emerging FinTech Award: Walee Financial Services               

 Financial Inclusivity Award:  PolicyStreet                          

 Regulatory Leader Award: Napier AI                             

 Sustainable Innovator Award: Rizal Commercial Banking Corporation   

 Thematic–AI, Quantum Champion: Tencent                             

Individual Category Winners (FinTech Mentor Award)  

 Andrea Baronchelli   Aspire, CEO and Co-founder   

 Dr. Dorian Selz     Squirro AG, CEO and Co-founder   

 Frans Wiwanto       Flywire (Singapore), CEO – APAC   

These winners represent a broad spectrum of innovative contributions to the FinTech landscape, from financial inclusivity solutions to AI advancements and sustainability efforts.  

Celebrating Industry Excellence  

Commenting on the achievements, MAS Chief FinTech Officer and Group CEO designate of GFTN, Mr. Sopnendu Mohanty, highlighted the significance of these platforms. “Once again, the Global FinTech Hackcelerator and FinTech Excellence Awards underscore the immense potential within the FinTech sector, showcasing exceptional innovations that address pressing challenges. We are proud to see this platform continue to foster impactful solutions that benefit the financial industry and communities. Our heartiest congratulations to all our winners!”  

SFA President Mr. Shadab Taiyabi also expressed his admiration for the winners. “I extend my deepest congratulations to the winners of the Global FinTech Hackcelerator and the SFF FinTech Excellence Awards. As Singapore aims to be a global FinTech leader, the solutions developed today will play a crucial role in addressing real-world challenges and driving future growth across various sectors. We look forward to witnessing how these advancements will shape the future of Singapore’s FinTech landscape.”  

The recognition of these award winners underscores Singapore’s commitment to fostering a forward-looking FinTech environment. By championing financial health, regulatory excellence, and inclusive growth, MAS and SFA continue to position Singapore as a global FinTech hub, paving the way for innovations that will shape the financial future both locally and globally.  

Source : Monetary Authority of Singapore