MAS Announces Winners of the 2020 Global FinTech Innovation Challenge

The Monetary Authority of Singapore (MAS) announced today the results of the 2020 MAS Global FinTech Innovation Challenge. Under the theme of “Building Resilience, Seizing Opportunities, Emerging Stronger”, three winners for the Global FinTech Hackcelerator and twelve winners for the FinTech Awards have been selected for their solutions that address the challenges faced by the financial industry due to the COVID19 pandemic and climate change. Both awards were handed out today at the Singapore FinTech Festival x Singapore Week of Innovation and TeCHnology (SFF x SWITCH) 2020.

• The winners of the Global FinTech Hackcelerator^[1] were selected during the Global FinTech Hackcelerator Demo Day, where they had pitched their innovations to an industry panel from around the world. The Local Programme of the Global FinTech Hackcelerator was supported by KPMG Digital Village. The top three teams are (in no order of merit):

Company Name	Solution Name	Prize Money
Matter	Matter Analytics	S$50,000
RegulAItion Ltd	AIR Platform	S$50,000
Intensel Limited	Advanced Physical Climate Risk Analytics	S$50,000

• The winners of the FinTech Awards^[2], supported by PwC Singapore, were selected from a total of 326 submissions from across 55 countries. The twelve winners were selected under four categories – Singapore Founder, ASEAN FinTech, Singapore Financial Institution and Global – by an international panel comprising industry experts across multiple domains. The winners are:

Award Category	Placing	Company Name	Solution Name	Country	Prize
Singapore Founder	1st	Triterras Fintech Pte. Ltd.	Kratos	Singapore	S$150,000
	2nd	finChat Technology Pte Ltd	Wealth Chat	Singapore	S$100,000

	3rd	Hashstacs Pte Ltd	Trident Platform – End to End Bond Lifecycle in a Box	Singapore	S$50,000
ASEAN FinTech	1st	AwanTunai, Windy Hill Pte. Ltd	AwanTunai digitising supply chain transaction data	Singapore	S$150,000
	2nd	NXTBK, Inc.	Nextbank Cloud ‘Bankin-a-box’	Philippines	S$100,000
	3rd	FlexM Pte Ltd.	Agrani Remit App powered by FlexM’s Fintech-as-aService solution	Singapore	S$50,000
Singapore Financial Institution	1st	Validus Capital Pte Ltd	Validus Credit and Customer Monitoring System (CCAAT)	Singapore	S$150,000
	2nd	Oversea- Chinese Banking Corporation Limited	HealthPass by OCBC	Singapore	S$100,000
	3rd	DBS Bank	Credit Architecture Programme – Credit eMemo	Singapore	S$50,000
Global	1st	Swiss Reinsurance Company Ltd. Beijing Branch	SRAIRMP (Swiss Re Agriculture Insurance Risk Management Platform)	Switzerland	S$150,000
	2nd	AIZEN Global Co., Inc.	ABACUS / Credit Card Payment Fraud Detection System with Deep Learning	Republic of Korea	S$100,000
	3rd	The Bank of New York Mellon Corporation	Changing the Way Institutional Investors Manage, Monitor & Analyse ESG Factors across their Portfolio	United States	S$50,000

• Mr Sopnendu Mohanty, Chief FinTech Officer, MAS, said, “The Global FinTech Hackcelerator and the FinTech Awards have served as key platforms to identify and recognise innovative, high quality solutions that are able to address real needs in the financial industry. This year, MAS chose the theme of “Building Resilience, Seizing Opportunities, Emerging Stronger” for the FinTech Innovation Challenge, as a clarion call to FinTechs to play a greater role in addressing the generational challenges of COVID-19 and climate change. We are pleased to see this year’s winners demonstrate strong potential in helping the industry tackle these critical issues. MAS would also like to thank KPMG Digital Village and PwC Singapore for their continued support.”

[1] The list of finalists for the Global FinTech Hackcelerator can be found here: link

[2] The list of finalists for the FinTech Awards can be found here: link