The Monetary Authority of Singapore (MAS) and the Singapore FinTech Association (SFA) have announced the winners of the Global FinTech Hackcelerator and the SFF Global FinTech Awards at the Singapore FinTech Festival (SFF) 2023. The winners, comprising financial institutions, FinTechs and solution providers, were recognised for their ground-breaking solutions that address challenges faced by the financial services industry.

Global FinTech Hackcelerator

This year’s Global FinTech Hackcelerator, conducted in partnership with AI Singapore and powered by Oliver Wyman, is themed “Artificial Intelligence (AI) in Finance Global Challenge”, with the objective of producing innovative and market-ready AI solutions that can transform the financial services industry. The winners of the Global FinTech Hackcelerator were selected on Demo Day, held during SFF on November 15,  2023. 19 finalists pitched their innovations to an international industry panel comprising academics, AI technical specialists and industry practitioners (further details on the competition and the judging panel are at Annex A).

The top three teams (in alphabetical order and in no order of merit) that will receive S$50,000 each in prize money are:

Company Name          Solution Name            Country

Pints AI            Neuron            Singapore

Toggle AI         ToggleChat      USA

Visa Inc.           CarbonSage.AI            USA  

Pints AI offers an on-premise solution that enables financial institutions to optimise operations through personalised data training, while catering to the financial sector’s critical data security requirements.

Toggle AI’s solution offers a chat interface that enable investors to access information about the market and their portfolio, providing them with curated insights to make informed investment decisions.

Visa Inc.’s solution enables corporates to score and forecast carbon emissions based on card and non-card transaction data, and provide customised recommendations to achieve a net zero carbon footprint.

SFF Global FinTech Awards

The Awards, supported by PwC Singapore, seek to recognise innovative FinTech solutions by corporates and individuals that have been instrumental in transforming FinTech industry practices, and spearheading the use of new technologies in creating new growth opportunities, promoting financial inclusion, and enhancing the delivery of financial services.

The 13 winners across six award categories were selected from a total of 96 submissions. New thematic categories in AI and Environmental, Social and Governance (ESG) FinTech were introduced this year. The winners were chosen by an international panel comprising industry experts across multiple domains (more details on the competition and the judging panel are at Annex B).

The winners for the Corporate Categories for the SFF Global FinTech Awards 2023 are [1] :

Award Category (Corporates)            Placing            Company Name

Global FinTech

1st       Algogene Financial Technology Company Limited

2nd      Headquarters (HQ.xyz)

ASEAN FinTech            1st       Advance Intelligence Pte Ltd

2nd      Mambu

Singapore FinTech      1st       Whitechalk Pte. Ltd.

2nd      Thunes

Thematic (AI)  –           MoolahGo Pte Ltd

–           Trusting Social

Thematic (ESG FinTech)          –           KoinWorks

–           Zuno Pte. Ltd.

The winners for the Individual Category (in recognition of C-Suite leaders) under the SFF Global FinTech Awards 2023 are:

Award Category (Individual)   Individual Name          Company Name

Leaders                      Validus, Co-founder and Group CEO, Nikhilesh Goel

Artius Global, CEO and Managing Director Jacqueline Pang

MVGX, Executive Chairman and Co-founder Bo Bai

Chief FinTech Officer, MAS, Sopnendu Mohanty said, “The Global FinTech Hackcelerator and the Global FinTech Awards continue to serve as a key platform to harness the potential of innovative, impactful solutions that address real needs in the financial industry. We are pleased to see the winning entries display exceptional capabilities in creating new growth opportunities and enhancing the delivery of financial services. Our heartiest congratulations to all the winners!”

Deputy Executive Chairman, AI Singapore, Prof Mohan Kankanhalli said, “Congratulations to all the winners of the AI in Finance Global Challenge! This year’s Global FinTech Hackcelerator has seen many creative and innovative applications of AI in Finance. We are hoping to see the winning teams continue to grow, develop and scale beyond this Hackcelerator to unlock greater potential for the sector.”

President of SFA, Shadab Taiyabi said, “Sincere congratulations to the winners of the Global FinTech Hackcelerator and the Global FinTech Awards! As the FinTech sector evolves, we are proud to see Singapore remain as a key hub in the region, and this wouldn’t be possible without the great efforts of our FinTechs. We look forward to seeing the impact of more excellent work from the winners as they continue to shape the future of FinTech.”

The prize money for each of the top 2 winners of the respective award categories is as follows: 1st Place: S$100,000; and 2nd Place: S$50,000.