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Singapore considers extending fintech funding beyond 2020

Bloomberg
Bloomberg11/11/2019 07:50 AM GMT+08  • 2 min read
Singapore considers extending fintech funding beyond 2020
SINGAPORE (Nov 11): Singapore’s central bank is poised to extend funding for financial-technology initiatives because the five-year round ending in March has yielded positive results, its top official said.
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SINGAPORE (Nov 11): Singapore’s central bank is poised to extend funding for financial-technology initiatives because the five-year round ending in March has yielded positive results, its top official said.

The Monetary Authority of Singapore will probably announce new funding plans next year, with possible areas including cyber security and artificial intelligence, Managing Director Ravi Menon said. The $225 million program has spurred innovation, attracted new companies and created jobs, he said.

“I think it has been money that is extremely well spent,” Menon said in an interview before the city-state’s third annual fintech festival kicks off Monday. “The most important is that we now have a vibrant fintech ecosystem.”

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