MAS puts S$250m to beef up financial-sector innovation, grow Singaporean fintech talent
Funding for projects in tech to be doubled; grants to be given to push AI adoption
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
THE most visible payoff for the investment in technology in the financial sector over the years has been in how well the industry responded to the Covid-19 pandemic, said Ravi Menon, managing director of the Monetary Authority of Singapore (MAS) on Thursday.
If the financial industry had not built up its digital capabilities, it would not have been able to continue operating without disruption - let alone grow by more than 5 per cent in the first half of this year, when the overall economy contracted by 6.7 per cent, he said.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Beijing’s calculated silence on the Iran war
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Vietnam formalises new state leadership, redefining ‘four pillars’ power balance
