MAS Unveils 42 Finalists for 2024 Global FinTech Hackcelerator and Excellence Awards

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According to a statement issued by the Monetary Authority of Singapore (MAS), 42 finalists for the 2024 Global FinTech Hackcelerator and the Singapore FinTech Festival (SFF) FinTech Excellence Awards will be announced at the SFF FinTech Excellence Awards luncheon on November 7.

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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.

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These finalists offered creative and ready-to-sell solutions that enhance people's and enterprises' financial well-being by utilizing technologies like distributed ledger technology (DLT) and artificial intelligence (AI).

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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.

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More than 200 entries were submitted in six categories for the SFF FinTech Excellence Awards 2024, organized in collaboration with the Singapore FinTech Association and sponsored by PwC Singapore.

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Four finalists have been selected for each of the five Corporate categories, which garnered 175 submissions. Out of 29 submissions, four finalists were chosen for the FinTech Mentor Award's Individual category.

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.

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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.”

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