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MAS and SFA Announce Award Winners at Singapore FinTech Festival

MAS and SFA Announce Award Winners at Singapore FinTech Festival 1

Singapore, 4 November 2022… The Monetary Authority of Singapore (MAS) and the Singapore FinTech Association (SFA) announced the award winners of the Global FinTech Hackcelerator and the SFF Global FinTech Awards, at the Singapore FinTech Festival (SFF). The winners, comprising financial institutions, FinTechs and solution providers, were recognised for their innovative solutions that can help to accelerate the pace of digitalisation, innovation and sustainability in the financial industry. 

Global FinTech Hackcelerator

1.The theme for this year’s Global FinTech Hackcelerator is “Accelerating A Greener Digital Future”, with dual focus on Web 3.0 and Green Finance.  The winners of the Global FinTech Hackcelerator were selected at Demo Day, held during SFF on 2 November 2022, where 17 finalists pitched their innovations to an international industry panel. Please refer to Annex A for the details of the competition and the judging panel.  The top three teams are (in no order of merit):

Company Name Solution Name Country
FQX eNotesTM Switzerland
norbloc Fides Sweden
WeavInsight WeavAir Singapore

  1. FQX’s solution offers a highly efficient infrastructure that provides on-chain settlement of tokenised debt securities.  It enables  cheaper issuance fees and increased capital efficiency.
  2. norbloc’s solution offers a digital onboarding platform that covers the whole know-your-customer (KYC) lifespan from data collection, management, and validation to data sharing and monetisation. 
  3. WeavAir combines cutting-edge AI analysis with new data sources like satellite imagery to gather accurate and real-time data which enables decision makers to achieve their ESG targets faster and more efficiently.

SFF Global FinTech Awards 

  1. The theme for this year’s SFF Global FinTech Awards is “Embracing Digital, Charting the New Normal.” The 36 winners across nine award categories were selected from a total of 223 submissions.  The winners were chosen by an international panel comprising industry experts across multiple domains.  Please refer to Annex B for the details of the competition and the judging panel. 
  2. The winners for the SFF Global FinTech Awards 2022 (presented by MAS) are:
Award Category Placing Company Name Solution Caption
Singapore FinTech (Singapore Founder) 1st Metaverse Green Exchange Pte. Ltd. MVGX Carbon Suite in the fight towards sustainability
2nd Validus Auto working capital (AWC) loan underwriting in just one minute
3rd AsiaVerify (UNSD Information Technology Pte Ltd) Asia’s leading entity resolution technology
ASEAN FinTech 1st FlexM Pte. Ltd. Reviving offline payment retail digital solutions during the pandemic
2nd Know Your Customer Digital solutions for seamless client onboarding
3rd Mambu Cloud banking platform to empower Islamic banks to transform
Singapore Financial Institution 1st BondEvalue BondbIoX: World’s first fractional bond exchange
2nd Standard Chartered Bank Banking-as-a-service solution
3rd ICBC Singapore ICBC innovative blockchain services
Global 1st Mastercard Turning purchases into meaningful action with Priceless Planet Carbon Calculator
2nd Valocity Global One Smart Platform – Digitising the end-to-end property decisioning process
3rd Stemly Stemly Cashflow planning solution with sustainability strategy

3.The winners for the SFF Global FinTech Awards 2022 (presented by SFA) are:

Award Category (Individual) Individual Name Company
 Top 10 FinTech Leaders Andrew Gazal ESGTech
El Lee Digital Treasures Center Pte. Ltd.
Kelly-Ann McHugh MyComplianceOffice Pte. Ltd.
Manish Bhai UNObank Inc.
Natalia Mykhaylova WeavInsight Pte. Ltd.
Nick Wilde Thought Machine Pte. Ltd.
Rajaram Kannan BondEvalue Pte. Ltd.
Sanjay Uppal Finbots AI Solutions Pte. Ltd.
Seong Ouk Choi Sentbe Pte. Ltd.
Shi Alice Chen ESGTech
ASEAN FinTech Leaders Cristina Amor Maclang GeiserMaclang
David Chen Atome Financial
Eddy (Kok Hoe) Wong VSure Group
Salim Dhanani BigPay
Sohini Rajola Western Union
Award Category (Corporate) Company
FinTech Employer of the Year  Mastercard
SC Ventures | Standard Chartered
Singlife with Aviva
Partners of FinTech Atome Financial
Knowledge Enterprise BondEvalue
Chintai Network Services 

  1. Mr Sopnendu Mohanty, Chief FinTech Officer, MAS, said, “We are very encouraged by the innovative, cutting-edge solutions presented by the winners and finalists of this year’s Global FinTech Hackcelerator and FinTech Awards. The winning entries have demonstrated strong potential to tackle real-world problems, while allowing the financial sector to harness the tremendous benefits of new technologies in their journey towards a greener digital future. Our heartiest congratulations to all the winners of the Global FinTech Awards!”
  2. Mr Shadab Taiyabi, President of SFA, said, “Innovative technologies continue to hold tremendous potential in boosting FinTech offerings and shaping the broader financial sector. Through the Global FinTech Awards and the Global FinTech Hackcelerator, we want to celebrate and give recognition to individuals and enterprises that are making a positive impact on the FinTech ecosystem and at the same time, encourage and foster a culture of continued innovation within the FinTech sector.”


Annex A – About Global FinTech Hackcelerator 2022

The Global FinTech Hackcelerator, powered by Oliver Wyman, publishes high-priority business challenges and invites FinTech solution providers with a market-ready solution from around the world to submit their applications on how they intend to solve these challenges with their proprietary solutions.

The competition comprises two parallel scouting programmes – the Local and International Partner Programmes. The Local Programme tackles problem statements originating from the finance industry in Singapore and globally; and the International Partner Programme comprises FinTech challenges organised by international partners.

Local Programme 

Organised by MAS, the programme seeks to unlock the potential of FinTech in accelerating the development of Web 3.0 and Green Finance, in Singapore and the region. MAS collected over 50 problem statements from financial institutions and industry players. 

The Web 3.0 problem statements focus on embedding blockchain technology to overcome scalability and implementation challenges, as well as expanding decentralised finance to enable the development of real-world use cases. The Green Finance problem statements focus on enhancing investor and financial institution’s ease of monitoring commitments and measuring impact of loans and investments against their sustainability goals.

10 finalists were shortlisted by a panel of industry experts to join a 10-week programme to work with an assigned Corporate Champion, who provided mentorship and guidance to refine the solution to the institution’s or industry’s context.

International Partner Programme 

The Global FinTech Hackcelerator’s International Partner Programme features independent competitions and programmes run by selected international partners around the world. Selected Partners include:

  • European FinTech Hackcelerator by Accelpoint and the Polish Investment & Trade Agency
  • F10 Climate FinTech Incubation Program and Klaytn Web 3 Incubation Program powered by F10
  • FinTech for Tomorrow Challenge by Finance for Tomorrow
  • Finnies 22 by FinTech Australia

Seven winners from the programmes run by international partners were fast-tracked into the finals of the Global FinTech Hackcelerator.

Rewards for Finalists and Winners 

All 17 finalists from the Local and International Programmes received a S$20,000 cash stipend. They are also eligible for a fast-tracked application for MAS’ Financial Sector Technology and Innovation (FSTI) Proof-of-Concept grant (up to S$200,000). The finalists presented their solutions during the Global FinTech Hackcelerator Demo Day to an esteemed panel of judges and the top three winners received S$50,000 each in prize money.

Winning Solutions of the 2022 Global FinTech Hackcelerator 

Company Name Solution Name Description of Company and Solution Country
FQX eNotesTM FQX AG is a Zurich-based FinTech Startup that aims to revolutionise short-term financing for businesses by providing the world’s most efficient and sophisticated tokenised debt infrastructure. 

Both traditional and decentralised finance have substantial flaws in themselves. While traditional financing is battling with inefficiencies, fragmentation, and intermediation, DeFi lending offers no access to institutional investors, comes often with legal uncertainties, and tends to be over-collateralised. FQX solves these issues by offering a hub for tokenised debt powered by eNotes™, blockchain-based debt securities. When compared to other financing tools, eNotes™ excel through their modularity and global transferability, based on a standardised legal framework. 

The cutting-edge financing and securities infrastructure of FQX provides on-chain settlement and promises cheaper issuance fees, increased capital efficiency, regulated debt securities, processing within minutes instead of weeks and lastly very competitive Annual Percentage Yield.

norbloc Fides norbloc is the first company globally to have successfully implemented a blockchain-based data sharing platform at scale with large international financial institutions and governmental bodies (+450k customer files currently residing in the ecosystem). 

norbloc’s flagship platform, Fides, connects financial institutions and government entities in an ecosystem where KYC data is validated and shared, thus mutualising the burden of KYC and removing data silos.

One single KYC file per customer is maintained in the ecosystem, ensuring that all participants have access to the latest, up-to-date data. Financial institutions have efficiency gains as duplication of effort is removed and less effort is spent on onboarding. Regulatory compliance improves as there is an audit log at data field level indicating the changes made, when they were made and by whom.

WeavInsight WeavAir Lack of accurate real-time data on ESG risks and climate change carry significant impacts on financial performance of assets and threaten infrastructure. WeavInsight leverages new modular sources of data and cutting-edge analytics technology to provide ESG KYC and parametric ESG intelligence platforms, that are accurate and fast to implement. 

By combining networks of sensors, satellite imagery and drone data capture systems to track Greenhouse Gas emissions, safety and other operational parameters, the company provides million times more data than is currently available to financial institutions and regulators. By doing this, the company provides unprecedented advantage of extremely accurate data, while making it available in real time. 

The solution makes use of in-house proprietary machine learning models to provide best-in-class transparent insights, that are tailored precisely to the customer needs. WeavInsight helps assess new clients based on the ESG and climate risks and supports real-time monitoring the evolution of customer impact targets and ESG risks, reducing the cost and time required to make accurate decisions by at least 10-fold.


Demo Day Industry Panel for the Selection of Winning Solutions 

Name  Title  Organisation
Darian McBain Advisor MAS
Sean Kennedy Head of Digital, Finance and Risk Practice, Asia Pacific Oliver Wyman
Manuel Jaeger Head of Crypto and Co-Founder, ADDX ADDX
Vivien Jong Chief Digital Officer, BNP Paribas Wealth Management  BNP Paribas
Abhi Bisarya Chief Product Officer
Gautam Mukharya Chief Risk Officer HSBC
Nic Dreckmann COO & Head Intermediaries Julius Baer
Yip Shue Heng Managing Director, Head of Digital Transformation Division, Asia  MUFG
Ian Sikora Executive Director Open Space Ventures
Kevin Hardy Senior Vice President, Head of Singapore and Southeast Asia State Street

ANNEX B – About SFF Global FinTech Awards 2022

There are a total of nine award categories and the winners of the awards will be announced at SFF 2022.  Entries can be submitted based on the following categories:


 For corporates

  • Singapore FinTech (Singapore Founder) 
  • ASEAN FinTech 
  • Singapore financial institution
  • Global




For individuals

  • Top 10 FinTech Leaders
  • ASEAN FinTech Leaders 

For corporates

  • FinTech Employer of the Year 
  • Partners of FinTech 
  • Knowledge Enterprise 

The Awards will be hosted entirely on API Exchange (APIX), a cloud-based innovation platform which allows firms to source for FinTech solutions for specific focus areas and for these solutions to be curated, contextualised, and validated. 

Judging Panel for the 2022 SFF Global FinTech Awards Winners

Full Name Title Organisation
Alex Manson Head of SC Ventures Standard Chartered
Amit Anand Founding Partner of Jungle Venture

Board of Director of Turtlemint (Insurance)

Jungle Venture
Anton Ruddenklau Head of Financial Services Advisory KPMG
Brian Thung Managing Partner, ASEAN Financial Services EY
Chitra Hepburn Head of APAC ESG & Climate MSCI Inc.
Connie Leung Senior Director, Financial Services Business Lead, Asia  Microsoft
Cornelia Andersson Global Head of Sustainable Finance and Investment  London Stock Exchange Group (LSEG)
Darian McBain  Advisor Monetary Authority of Singapore
Edward Bizaoui APAC Head of CIB Markets Technology and Singapore Technology Centre Lead JP Morgan
Frank Desvignes Global Head of Innovation  AXA Next Labs
Gautam Mukharya Chief Risk Officer, Environmental, Climate Risk & Innovation HSBC
Ho Kok Yong Partner Deloitte
Jeff Lin VC Investor, Senior Principal Iglobepartners
Lawrence Chan Group CEO Nets 
Mark Munoz Managing Partner at Vectr FinTech Partners  Vectr Ventures
Mathew Wood APAC Head of Digital and FinTech Partnerships   VISA
Phil Jenke Venture Lead  OBI SQUARED Ventures
Pranav Seth Chief Digital Officer Techcombank
Rainer Lo Government Relations Lead in Asia  R3
Rama Sridhar Executive VP, Digital & Emerging Partnerships, New Payment Flows, Asia Pacific Mastercard
Sopnendu Mohanty  Chief FinTech Officer Monetary Authority of Singapore
Victor Alexiev Global Head of Venture Incubation Citi Ventures 
Wilson Huang Director, Innovation Hub Bank of Singapore

[1] The top three winners will receive S$50,000 each in prize money.

[2] The prize money for each of the top 3 winners of the respective award categories is as follows: 1st Place: S$150,000; 2nd Place: S$100,000; 3rd Place: S$50,000.

[3] Examples of real-world use cases include addressing data privacy and fraud issues to ensure security for users, as well as solving for market efficiency shortcomings.

[4] Examples of problem statements aimed at helping corporates and SMEs meet their sustainability goals include leveraging on technology to create sustainable benchmarks in order to rate companies’ performance on a green scale.

[5] The SFA awards have been further streamlined this year, with the previous “Women in FinTech” and “FinTech leaders under 30” categories now incorporated under the “Top 10 FinTech Leaders” category.

[6] APIX ( is a flagship product of the ASEAN Financial Innovation Network (AFIN), a not for-profit entity formed by MAS, the International Finance Corporation and the ASEAN Bankers Association. Its objective is to support financial innovation and inclusion around the world.

Global Banking and Finance Review Awards Nominations 2022
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