New chartered fintech professional qualification to groom Singapore, China talent

A NEW Chartered FinTech Professional (CFtP) qualification will be introduced to develop fintech professionals in Singapore and China, and build a sustainable pipeline of international fintech talent.

It will be launched by the Global FinTech Institute (GFI), the Singapore University of Social Sciences (SUSS) and the Shanghai Institute of International Finance Center (SIIFC), a think tank administered by Shanghai University of Finance and Economics (SUFE).

The three parties have signed a memorandum of understanding for this collaboration.

The upcoming CFtP qualification aims to promote the fintech sector and raise the level of professionalism within the industry.

It also provides a pathway for professionals from other industries to embark on a fintech career, according to a joint statement by GFI, SUSS and SIIFC.

The CFtP programme has two levels, covering topics on finance, financial technology, applications and professional practice.

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Candidates will be awarded the qualification only when they complete all assessments for both levels and satisfy experience requirements.

Monetary Authority of Singapore chief fintech officer Sopnendu Mohanty said the qualification will "build future charter holders who are recognised globally for their commitments to serve the fintech industry".

"As the global fintech industry enters a stable growth stage, it is crucial to establish a consistently high quality and professional workforce that will charter this path of progress," he added.

GFI co-founder and chairman David Lee said the institute looks forward to realising the "huge potential" of fintech and demand for fintech talent, especially as Singapore and several Chinese cities including Shanghai are looking to become leading fintech hubs.

SUSS provost Tsui Kai Chong noted that the Singapore university would be able to tap on GFI's expertise to enhance its fintech training and learning capabilities.

Meanwhile, SIIFC dean Zhao Xiaoju said he hopes the partners will work together to build a "healthy ecosystem" for the fintech industry.

Hong Kong financial services firm AMTD Group on Tuesday also announced it has become an industry partner of the CFtP qualification, under an agreement signed with GFI.

AMTD Group as well as its digital and charity arms will support the programme by providing industry mentorships, thought leadership and cross-border learning journeys, it said in a separate press statement.

In addition, the AMTD Charity Foundation will contribute scholarships to 20 students from SUSS and SUFE to pursue the professional qualification.

The students will also get internship opportunities at fintech firms that are part of AMTD's SpiderNet ecosystem, in Singapore and across the region, the group said in its statement.

NTUC assistant secretary-general Patrick Tay noted that this tie-up will bring about new opportunities for students as well as those looking to enter the fintech space.

"The CTfP accreditation will also help further professionalise and strengthen the fintech fraternity and enhance the employment and employability of practitioners," Mr Tay added.

Timothy Tong, chief executive of AMTD Charity Foundation and retired president of Hong Kong Polytechnic University, will join the academic council of GFI, AMTD said on Tuesday.