The Monetary Authority of Singapore has committed S$220 million ($173 million) over the next three years to fund the fourth iteration of its Financial Sector Technology and Innovation Scheme. Designed to accelerate technology adoption across the nation’s financial ecosystem, the program focuses on scaling frontier capabilities including artificial intelligence, distributed ledger technology, quantum computing, and digital asset infrastructure for both financial institutions and fintech firms.

The scheme will operate through six dedicated tracks targeting talent development, institutional projects, AI deployment, industry platforms, innovation centers, and fintech awards. To strengthen the talent pipeline, the central bank will co-fund stipends for at least 1,000 fintech internships over three years, supported by a new portal managed by the Singapore FinTech Association that connects university students with industry opportunities.

Under its institutional and commercialization tracks, the initiative supports Singapore-based entities developing frontier technology applications while assisting firms in adopting market-ready AI via the MAS-led PathFin.ai platform. MAS will also introduce a Global FinTech Hackcelerator Scale-up Grant to help competition finalists validate solutions, attract private capital, and expand local operations.

Finally, the program focuses on building sector-wide infrastructure to improve overall efficiency and productivity across the financial ecosystem. Its center of excellence track aims to anchor the global innovation units of international institutions and tech companies in Singapore, reinforcing the city-state’s position as a regional hub for quantum computing, AI, and digital assets.

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