The ninth Singapore FinTech Festival (SFF) showcased digitalisation and artificial intelligence (AI) as critical themes influencing the future of financial services. Held from 6 to 8 November, the event gathered financial leaders, innovators, and regulators globally to explore the industry's transformative path. Monetary Authority of Singapore (MAS) Managing Director Chia Der Jiun shared his excitement for the festival, saying, “It’s very exciting with new business models being announced and founders coming up with new ideas. The entire community comes together." Chia emphasised the festival's role as a platform for collaboration and innovation, as attendees explored emerging trends. With specialised zones like the Regulation Zone and Technology Zone, SFF covered a range of hot topics, including “AI, digital assets, and sustainability,”.
MAS’s regulatory approach encourages both growth and stability in fintech, with a particular focus on asset tokenisation and AI governance. Highlighting MAS's dedication to industry standards, Chia noted that "the adoption of a common set of standards and industry best practices reduces the incremental costs of deploying solutions." Initiatives such as Project Guardian aim to advance tokenisation standards, while the AI Governance Handbook supports industry-wide risk management for generative AI. Reflecting MAS’s broader goals for a resilient digital infrastructure, Chia commented, “We work with industry to reduce the barriers to enable players to move from Point A to Point B.” MAS has also bolstered its digital resilience framework through the formation of the Cyber and Technology Resilience Experts Panel, designed to ensure Singapore’s financial sector remains robust and secure. Looking forward, Chia underscored MAS’s vision for fintech as a balanced blend of "innovation and regulatory stability," solidifying Singapore’s role as a premier fintech hub in Asia.
Information sourced from an article by Lee Su Shyan for The Business Times. Read the full article here or download the PDF below to read.
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