Singapore, 12th June 2023… The Monetary Authority of Singapore (MAS) today launched the 8th edition of the “Global FinTech Hackcelerator”.Artificial Intelligence (AI) Global Challenge in Finance, creating innovative, market-ready AI solutions that can transform the financial services industry. The contest is conducted with the cooperation of: AI Singapore (AISG) Featuring Oliver Wyman.
2. Interested parties from around the world are invited to submit innovative solutions to address 16 problem statements collected from financial institutions and industry participants. These problem statements focus on four key areas where AI can be used more effectively to achieve stronger outcomes. (i) improving the customer experience; (ii) improved operational efficiency; (iii) strengthen oversight of risk, compliance and fraud; (iv) realization of environmental, social and governance (ESG) solutions;
3. Up to 20 finalists will be shortlisted for the program and paired with corporate champions.
- During the technical judging round, finalists are expected to submit the technical mechanics of their solution to the judging panel.
- Finalists will pitch their solutions at a demo day held as part of this year’s Singapore Fintech Festival.
Organized by the Monetary Authority of Singapore and Erewandi in partnership with Constellar and in partnership with the Singapore Bankers Association, Singapore Fintech Festival We will be back from November 13th to 17th, 2023. . One of her three winners will each receive a cash prize of S$50,000. These winners can also apply for her exclusive AISG Start Up grant and win an additional prize of up to S$500,000.Eligibility conditions apply. https://aisingapore.org/ai-in-finance-global-challenge/ .
Four. Sopnedu Mohanty, Chief Fintech Officer at MAS, said, “With recent breakthroughs in AI, there is tremendous scope for financial institutions to harness the potential of AI to transform financial services. stands for interoperability, interoperability, “inclusiveness, affordability and fairness. All innovators are strongly encouraged to participate in this global competition and showcase their solutions.”
Five. Chia Tek Yew, Vice Chairman of Oliver Wyman Singapore, said: “Advancements in AI are driving one of the most exciting revolutions of our time. We are thrilled to strengthen our Global FinTech Hackcelerator, a global initiative by innovators to advance their thinking and develop financial services around four key themes: Customer Experience, Operational Efficiency, Risk Management and ESG. It is a platform to tackle the challenges of
6. All interested parties are encouraged to submit an application to the MAS Global FinTech Hackcelerator. here By July 18, 2023.
***
