The central bank cites the success of the current five-year funding round
- The Monetary Authority of Singapore will probably announce new funding plans next year with a possible focus on cyber security and artificial intelligence.
- So far the $165 million programme has sparked innovation, attracted new companies and created jobs.
- There are more than 600 FinTech startups in Singapore, up from about 50 in 2015
What this means
In a short time Singapore has become a global financial centre for technology to boost competitiveness and innovation. In the first nine months of this year investors ploughed a record $735 million into the island’s fintech sector.