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
	Thunes
	YouTrip
Knowledge Enterprise	BondEvalue
	Chainalysis
	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.”

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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.	Switzerland
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.	Sweden
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.	Singapore

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	Crypto.com
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:

MAS  For corporates Singapore FinTech (Singapore Founder)  ASEAN FinTech  Singapore financial institution Global

SFA   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 (https://apixplatform.com/) 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.