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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 COVID-19 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.
2. The winners of the Global FinTech Hackcelerator
| 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 |
3. The winners of the FinTech Awards
| 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 'Bank-in-a-box' | Philippines | S$100,000 | |
| 3rd | FlexM Pte Ltd. | Agrani Remit App powered by FlexM’s Fintech-as-a-Service 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 |
4. 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.”
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[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
