MAS announces winners of the 2019 Global FinTech Hackcelerator and FinTech Awards

Singapore, 11 November 2019… The Monetary Authority of Singapore (MAS) announced today the three winners of the Global FinTech Hackcelerator.  MAS and The Association of Banks in Singapore (ABS) also announced the 12 winners of the FinTech Awards. Both awards were handed out today at the Singapore FinTech Festival x Singapore Week of Innovation and Technology (SFF x SWITCH).

2     The winners of the Global FinTech Hackcelerator [1] , supported by KPMG Digital Village, were selected through the Global FinTech Hackcelerator Demo Day, where they had pitched their innovations to an industry panel of judges. The top three teams are (in no order of merit):

Company Name Solution Name Prize Money
 Pula Advisors GmbH Pula S$50,000
 Arthance LLC DiligenceVault S$50,000
 MindBridge Analytics Inc. MindBridge AI S$50,000

3     The winners of the FinTech Awards [2] , supported by PwC Singapore, were selected from a total of 245 submissions from over 30 countries. The twelve winners were selected under four categories - Singapore Founder [3] , ASEAN SME [4] , ASEAN Open [5] and Global [6] by an international panel comprising industry experts across multiple domains. Three of this year’s winning solutions were returning finalists from the FinTech Awards in 2018 [7] . The winners are:

Award CategoryPlacing Company Name Solution Name Country  Prize
 Singapore Founder 1st Onchain Custodian SAFE Platform Singapore S$150,000
 2nd Finaxar FXR One Singapore S$100,000
 3rd Optimai Pte Ltd Optimai PRIME Singapore S$50,000
 ASEAN SME 1st InfoCorp Technologies Pte Ltd FarmTrek Project in Myanmar Singapore S$150,000
 2nd Brankas Brankas Open Bank Platform Singapore S$100,000
 3rd ZigWay ZigWay Myanmar S$50,000
 ASEAN Open 1st CredoLab Pte Ltd CredoScore Singapore S$150,000
 2nd MyCash Online (SG) Pte Ltd MyCash Online Singapore S$100,000
 3rd Razer Pay Holdings Pte Ltd Razer Fintech Singapore S$50,000
 Global [8] 1st TransferWise Borderless Account United Kingdom S$150,000
 2nd OakNorth OakNorth United Kingdom S$100,000
 3rd VoxSmart Pte Ltd VSmart United Kingdom S$50,000

4     Mr Sopnendu Mohanty, Chief FinTech Officer, MAS, said, “We have been seeing improvements in the quality of submissions for both the Global FinTech Hackcelerator and the FinTech Awards year on year. We are also happy that this year’s FinTech Awards winners included applicants from past editions, who have come back with improved solutions. This is testimony to the success of the programmes, which seek to incubate new FinTech solutions to solve real industry needs. MAS would also like to thank PwC Singapore and KPMG Digital Village for their continued support.”

***

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

  1. [2] The list of finalists for the FinTech Awards can be found here: link

  1. [3] Singapore-based SMEs with at least one Singaporean founder. The term ‘founder’ is defined as an individual who was instrumental in setting up the SME. There is no need for majority share-ownership. The SME must have a physical office registered in Singapore, and the solution must have been implemented in Singapore.

  1. [4] ASEAN-based SMEs (Small and Medium Enterprises). SMEs, as defined by Enterprise Singapore, are enterprises with an annual sales turnover of not more than SGD$100 million OR an employment size of not more than 200 workers. Enterprises qualify as SMEs as long as they satisfy at least one of the two parameters.

  1. [5] ASEAN-based companies of any size. The company must have a physical office registered in at least one ASEAN country, and the solution must have been implemented/deployed in at least one ASEAN country. The ASEAN Open category allows companies of any size to participate.

  1. [6] FinTech project implemented in any part of the world by any company.

  1. [7] For details on the winning solutions from the three returning finalists, refer to Annex B.

  1. [8] The first place award in the Global category, the Global Award, is given out by The Association of Banks in Singapore (ABS).

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