Singapore has recently announced that it will be investing $182.1 million (SG$250 million) in the next three years. This is to fuel technology innovation in the financial services industry of the country – with an additional focus on artificial intelligence (AI).
This shift emerges as the nation wraps up a previous five-year-old roadmap, which saw the materialization of nearly 1,000 FinTech firms as well as 40 innovation labs –facilitating 500 projects.
The Financial Authority of Singapore (MAS) said that this modern three-year innovative plan is aimed to level up to help for the large-scale tech initiatives. Besides, it is focused to scale up the FinTech skillsets within the region.