MAS sets up new entity to drive future expansion of the SFF 

Singapore, 4 August 2021… The Monetary Authority of Singapore (MAS) today announced  that the Singapore FinTech Festival (SFF) will take place from 8 to 12 November, as a hybrid  digital and physical event. A company limited by guarantee (CLG) will also be incorporated to  spearhead future growth of the SFF and lead a series of new initiatives to provide year-round  engagement with the global FinTech community.  

SFF 2021 

2. SFF 2021, organised in partnership with The Association of Banks in Singapore (ABS)  and in collaboration with Constellar Exhibitions, a subsidiary of Constellar Holdings (formerly  known as SingEx-Sphere Holdings), will provide a combined online-offline platform for the  global FinTech community to engage and connect in spite of the current challenges with  international travel. The first three days of the SFF will feature a hybrid conference and  exhibition; on 11 and 12 November, participants can attend global satellite events and  industry events online and at physical locations. 
3. The theme for SFF2021 is “Web 3.0”. Over three days, SFF2021 will bring together  global experts to discuss how Web 3.0 and key technological advances will power the future  of financial services. In particular, the conference will examine three key structural drivers  that could re-shape financial services in the coming decade:  
   • Re-configuration of financial products and services delivery through Embedded  Finance (#EmFi), decentralised finance (#DeFi) and Digital Currencies 
   • Integration of ESG into the core design of financial services 
   • Pervasive adoption of foundational digital infrastructure (Digital Identity, Trusted Data  Exchange, Interoperable Payment Systems and Consent Systems) 

4. SFF2021 will also organise deep-dive sessions that will brainstorm how Web 3.0  technologies can be harnessed for more efficient financial intermediation, advance key  objectives like green finance and financial inclusion, and examine implications for financial  regulation and supervision. Other highlights include: 

• Participants can expect an inclusive global programme with ‘live’ broadcasts featuring  leading industry and government leaders globally. Last year’s SFF featured global  leaders such as Rt Hon Jacinda Ardern, Prime Minister of New Zealand; H.E. Uhuru  Kenyatta, President of Kenya; François Villeroy de Galhau, Governor, Banque de  France; Bill Gates, Co-Chair and Trustee, Bill & Melinda Gates Foundation; Sundar Pichai, Chief Executive Officer, Google and Alphabet; and Jane Fraser, Chief Executive  Officer, Citigroup.
• Participants can also look forward to the showcasing of winners of the MAS Global  FinTech Hackcelerator1, Global CBDC Challenge2, a revamped SFF FinTech Awards3 and  Innovation Lab Crawl.  
• The World FinTech Festival4 will continue to support the development of local FinTech  ecosystems and drive greater collaboration opportunities across regions. Key  partners5from Brazil, Cambodia, Hungary, Japan, Nigeria, Poland, the Philippines and  the United States will host their satellite events round-the-clock on 11 and 12  November 2021. 
• Curated hybrid meetings will be at the heart of the FinTech festival, with  recommended matches, hosted meet-ups and a comprehensive exhibitor directory to  drive dedicated matchmaking throughout the event. 

New entity (Elevandi) to drive SFF 

5. Named ‘Elevandi’ (which means to lift up or to raise up), the company’s mission is to  foster an open dialogue between the public and private sectors to harness FinTech for growth  and development in the new digital economy. Elevandi will build a global knowledge and  collaboration platform, aimed at bringing together the global financial and FinTech  community to address pain points in the workings of the financial system, and harness  technology and innovation in finance to improve the well-being of individuals, economies and  societies.  
6. Elevandi will have an international Board of Directors to oversee its mission and work.  The Board will comprise members from the public sector, financial services sector and  experienced global industry leaders. Each Director will contribute unique perspectives on the  current and future state of FinTech, and insights across key FinTech markets globally.  Sopnendu Mohanty, MAS’ Chief FinTech Officer, will be one of the Directors. 
7. To drive the next phase of growth, Elevandi will expand its programme of activities  beyond the SFF to a broader range of engagement platforms to drive greater collaboration  with the global FinTech community. Elevandi’s activities will continue to be run in partnership  with ABS and in collaboration with Constellar Exhibitions. These include:
   • Green Shoots Series, monthly meetups for the global FinTech community to discuss  critical topics trending in FinTech and the digital economy.  
   • Deal Fridays, monthly events between investors and start-ups to drive deal-making  opportunities.  
   • Oxygen by APIX, an upskilling platform for financial institutions, FinTechs and tech  enthusiasts with carefully curated masterclasses, panels, podcasts and research  content from industry experts dedicated to promoting worldwide knowledge sharing. 
   • Elevandi Forum, purpose-driven roundtables aimed at bringing the public and private  sectors together to advance developments and issues within the FinTech industry. • Elevandi FinTech Insider Report, an annual report on digital advancements for the  global FinTech industry. 

8. Mr Mohanty said, “For the last five years, MAS has grown the SFF into a leading global  platform for FinTech. It is now time for the SFF to further a global mission. Singapore has an  important role to play as a knowledge centre and as a platform to enable greater  collaboration and exchange between the public and private sectors around the world.” 
9. During the week of the SFF2021, Enterprise Singapore will also host the Singapore  Week of Innovation and TeCHnology (SWITCH). Together, these two marquee events will  feature exciting innovation and technology activities for the global innovation community.  For more details, visit www.fintechfestival.sg to register for the SFF 2021 and receive updates,  and www.fintechfestival.sg/about-usto learn more about the new entity. For more details on  SWITCH, visit www.switchsg.org. 

1 MAS’ announcement on the launch of the Global FinTech Hackcelerator for a greener financial sector:
https://www.mas.gov.sg/news/media-releases/2021/mas-launches-global-fintech-hackcelerator-for-a greener-financial-sector 
2 MAS’ announcement on the launch of the Global CBDC Challenge:
https://www.mas.gov.sg/news/media releases/2021/mas-partners-imf-world-bank-and-others-to-launch-global-challenge-for-retail-cbdc-solutions
3 MAS and SFA invite entries for 2021 FinTech Awards:
https://www.mas.gov.sg/news/media releases/2021/mas-and-sfa-invite-entries-for-2021-fintech-awards 
4 Comprising 45 satellite events hosted by partner cities across the world in 2020. The full list of SFF 2020 satellite
events hosted in partnership with FinTech and innovation hubs across Asia, Europe, Africa and the Americas can be found at
https://fintechfestival.sg/world-fintech-festival. 
5 The key World FinTech Festival partners are the National Bank of Cambodia, Cambodia Association of Finance and Technology,
Association of Banks in Cambodia, Fintech Philippines Association, So Inc, the Central Bank of Hungary, Fintech Association of Nigeria,
FID21 and Treasury.

For media queries, please contact: 

Bridgitte Lee 
Deputy Director (Communications) 
Monetary Authority of Singapore 
Tel: +65 6229 9262 
Email: [email protected] 

Jacqueline Ong 
Deputy Director (Communications) 
Monetary Authority of Singapore 
Tel: +65 6229 9159 
Email: [email protected]

About the Singapore FinTech Festival 

Singapore will host two marquee events for the global innovation community from 8 to 12  November 2021 – the Singapore FinTech Festival (SFF) and Singapore Week of Innovation and  TeCHnology (SWITCH).  

SFF is the world’s largest FinTech event and a global platform for the FinTech community  comprising FinTech players, technopreneurs, policy makers, financial industry leaders,  investors including private equity players and venture capitalists, and academics. In 2020, SFF  and SWITCH saw 60,000 participants from over 160 countries with more than 2,000 speakers,  over 1,300 exhibitors, 27 international pavilions, and 45 satellite events hosted by partner  cities across the world during the 5-day round-the-clock event. The SFF is organised by the  Monetary Authority of Singapore (MAS) in partnership with The Association of Banks in  Singapore and in collaboration with Constellar Holdings.  

Find out more about SFF, the largest and most impactful gathering of FinTech professionals  in the world, and SWITCH, Asia’s leading tech festival at www.fintechfestival.sg and  www.switchsg.org.  

About The Association of Banks in Singapore 

The Association of Banks in Singapore (ABS) plays an active role in promoting and  representing the interests of the banking community in Singapore. In doing so, ABS works  closely with the relevant government authorities towards the development of a sound  financial system in Singapore. Since its establishment in 1973, ABS has promoted common  understanding among its members and projected a unifying voice on banking issues. It has  brought its members closer together through various guidelines and banking practices as well  as the support of projects of mutual benefit to face the challenges of the financial and banking  community in Singapore. Today, ABS has a membership of 154 local and foreign banks. More  information on ABS is available on the website: www.abs.org.sg.  

About Constellar Holdings Pte Ltd  

Constellar Holdings connects a global eco-system of event partners and consumers through a  holistic portfolio of intellectual property (IP) in the Meetings, Incentives, Conventions and  Exhibitions (MICE) industry.  

As Asia’s partner of reference for curating innovative event and venue experiences, Constellar  activates impactful networks to bring global markets, businesses and consumers together for  sustainable growth. With our expertise and dedication, we are invested in helping you build  trusted relationships with stakeholders for the long term and enabling cross-industry  collaboration through world-class audience engagement solutions.  

Constellar is headquartered in Singapore. Founded in 2021, it brings together decades of  experience with an intrepid team of experience specialists around the world. Visit  www.constellar.co for more information.