MAS announces 42 finalists for the 2024 Global FinTech Hackcelerator and FinTech Excellence Awards

SINGAPORE: The 2024 Global FinTech Hackcelerator and the Singapore FinTech Festival (SFF) FinTech Excellence Awards have 42 finalists, which will be revealed at the SFF FinTech Excellence Awards dinner on Nov 7, according to a released statement by the Monetary Authority of Singapore (MAS) on Oct 28.

This year’s theme, “Improving Financial Health,” focuses on developing financial products and tools to help individuals and businesses manage their resources effectively, build financial resilience, and create growth opportunities in today’s changing economy.

MAS announced that there are 18 finalists from the Global FinTech Hackcelerator, which received 77 proposals from Australia, Bangladesh, China, Hong Kong, India, Indonesia, Kenya, Nigeria, the Philippines, Singapore, South Korea, and the United States.

These finalists submitted innovative and market-ready solutions that use technologies like Artificial Intelligence (AI) and Distributed Ledger Technology (DLT) to improve the financial health of individuals and businesses.

The finalists will participate in a two-day programme by Elevandi to network and collaborate with corporates, investors, and industry experts. They will also receive mentorship from their assigned Corporate Champions.

The finalists will then pitch their ideas at the Global FinTech Hackcelerator Demo Day during the SFF on Nov 6. Each finalist will receive a cash stipend of S$20,000, while the top three winners will each get S$50,000.

The SFF FinTech Excellence Awards 2024, held with the Singapore FinTech Association (SFA) and supported by PwC Singapore, received more than 200 submissions across six categories.

For the five Corporate categories, there were 175 submissions, leading to four finalists shortlisted for each category. In the Individual category, the FinTech Mentor Award, 29 submissions resulted in four finalists.

The SFF awards aim to recognise innovative FinTech solutions that have transformed industry practices.

This year, the award categories have been “revamped to be more outcome-focused,” concentrating on the impact and effectiveness of solutions, especially in areas like financial inclusion and regulatory compliance.

A thematic Corporate category in AI and Quantum technology has also been added.

Mr Sopnendu Mohanty, Chief FinTech Officer at MAS, congratulated the finalists, saying, “Your innovative solutions inspire us and push the boundaries for shaping a more inclusive and dynamic future.”

For the full list of the 2024 Global FinTech Hackcelerator finalists, check here.

For the 2024 SFF FinTech Excellence Awards finalists, check here. /TISG

Featured image by Depositphotos