The Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) have awarded 12 fintech companies a total of S$1.2
million at the FinTech Awards, which took place at the 3rd Singapore FinTech Festival.
This year’s winning solutions have a greater ASEAN representation* and focus on
financial inclusion, spanning multiple business areas, such as credit-scoring, mobile security,
anti-money laundering and digital investment.
The 12 awardees are:
ASEAN Open Award**
1st place (S$150,000) – LenddoEFL (Philippines), for its alternative data credit score
2nd place (S$100,000) – SQREEM Technologies
(Singapore)
3rd place (S$50,000) – Finantix Asia Pacific
(Singapore), which received
ASEAN SME Award**
1st place (S$150,000) – FinAccel Teknologi
(Indonesia), for Kredivo, a digital credit card designed for
Indonesian Millennials
2nd place (S$100,000) – Katipult (Thailand)
3rd place (S$50,000) – MoneyMatch Transfer
(Malaysia)
Singapore Founder Award**
1st place (S$150,000) – CCRManager, for its cloud-based platform of the same name that supports the distribution
of trade finance assets by financial institutions
2nd place (S$100,000) – Cynopsis Solutions
3rd place (S$50,000) – Thin Margin
Global Award**
1st place (S$150,000) – Everspin (South Korea), for Eversafe, a mobile application security solution based on its Dynamic Security Module Technology.
2nd place (S$100,000) – Naffa Innovations (India)
3rd place (S$50,000) – Keychain (Japan)
The FinTech Awards, supported by PwC, recognises innovative fintech solutions that
have been implemented by fintech companies, financial institutions and technology
companies. Entries were evaluated based on four criteria: impact, practicality, interoperability, and uniqueness and creativity.
This year, 40 finalists were shortlisted from more than 280 global submissions
including the companies who participated in the ASEAN PitchFest***.
The ASEAN PitchFest, powered by PwC, was launched this year to recognise innovative talent in ASEAN countries. The nine winners participated in the final round of
the FinTech Awards.
Sopnendu Mohanty, Chief FinTech Officer, MAS, said, “We are delighted to see
more talent in the region coming through the new ASEAN PitchFest and to observe how the
winners are applying fintech solutions to a wide range of business areas."
Mrs Ong-Ang Ai Boon, Director, ABS added, “This is yet another feather in the cap for
the third edition of the Festival in harnessing the power of the talented fintech game
changers.”
*In conjunction with Singapore’s ASEAN chairmanship this year, the scope of the FinTech Awards’ SME and Open categories included ASEAN companies outside Singapore.
**Criteria for the ASEAN Open Award: ASEAN-based companies of any size. The company must have a physical office registered in at least one ASEAN country,
and the solution must have been implemented in at least one ASEAN country. The Open category allows companies of any
size to participate, such as financial institutions and large technology vendors (e.g. Google).
Criteria for the ASEAN SME Award: ASEAN-based small and medium sized enterprises (SMEs). SMEs, as defined by Enterprise Singapore, are enterprises with an annual
sales turnover of not more than S$100 million OR an employment size of not more than 200 workers. Enterprises qualify
as SMEs as long as they satisfy at least one of the two parameters.
Criteria for the Singapore Founder Award: Singapore-based SMEs with at least one Singaporean founder. The term ‘founder’ is defined as an individual who was instrumental in setting up the SME. There is no need for majority share-ownership. The SME must have a physical office registered in Singapore, and the solution must have been implemented in Singapore.
Note on the Global Award: One of the awards in the Global category is given by The Association of Banks in Singapore.
