MAS Launches FinTech Hackcelerator Focused on Green Finance

Fintech firms and solution providers are invited to submit innovative solutions to address any of 52 problem statements related to green finance.

MAS (Monetary Authority of Singapore) has launched its 6th edition of the “Global FinTech Hackcelerator”, seeking to unlock the potential of fintech to accelerate the development of green finance in Singapore and the region.

Under the theme “Harnessing Technology to Power Green Finance”, the competition is open to fintech firms and solution providers internationally.

Firms are invited to submit innovative solutions to address 52 problem statements that have been collected from financial institutions and green finance industry players.

The problem statements focus on three key challenges:

  • Mobilising Capital: Increase access to capital for Green projects or solutions
  • Monitoring Commitment: Enhance Investor and Financial Institution ease of monitoring sustainability commitments from issuers
  • Measuring Impact: Improve ability to measure impact of loans and investments against their stated sustainability goals

Fintech firms and solution providers can apply here by 11 June.

Up to 15 finalists will be shortlisted for a virtual programme where they will be paired with a ‘corporate champion’ to develop customised prototypes on APIX (API Exchange).

Each finalist will receive a SGD 20,000 cash stipend and be eligible for a fast-tracked application for the MAS Financial Sector Technology and Innovation Scheme Proof-of-Concept Grant of up to SGD200,000.

Finalists will also pitch their solutions at the “Demo Day” held at this year’s Singapore FinTech Festival. Up to three winners will be announced on 8 November, each receiving SGD 50,000 in prize money.

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