Singapore is strengthening its fintech ambitions with a fresh S$220 million (US$172.83 million) investment over three years. The Monetary Authority of Singapore announced the funding on Monday under the fourth iteration of the Financial Sector Technology and Innovation Scheme, known as FSTI 4.0. The commitment aims to reinforce the city-state's position as a leading global fintech hub while supporting innovation, infrastructure and talent.
A Renewed Focus on Frontier Technologies
FSTI 4.0 builds on earlier iterations first launched in 2015 and targets four core goals. These include anchoring innovation activities in Singapore, accelerating the adoption of financial technologies with an emphasis on frontier areas, developing shared technology infrastructure, and supporting talent development. Deputy Prime Minister Gan Kim Yong said emerging technologies such as artificial intelligence present new growth opportunities for the financial sector.
Singapore's fintech industry now includes more than 1,800 firms employing close to 10,000 professionals in areas such as technology, data, AI, compliance and cybersecurity. Fintech investments reached S$2.9 billion in 2025. The scheme is designed to help financial institutions and fintech companies move from experimentation to scaled deployment in a competitive global market.
Six Tracks to Drive Industry-Wide Progress
MAS will implement FSTI 4.0 through six tracks covering institutional innovation, AI adoption, infrastructure and platforms and talent development. The Institution Project track supports Singapore-based financial institutions and fintech firms in developing and deploying solutions with a focus on AI, distributed ledger technology and quantum technology. The AI Pathfinder track helps financial institutions adopt market-ready AI solutions listed on PathFin.ai and fosters closer collaboration with AI providers.
The Infrastructure and Platform track supports industry-wide systems that improve efficiency, productivity and innovation while strengthening Singapore's role in global financial standards. The Centre of Excellence track aims to anchor innovative functions of leading global institutions and emerging technology areas such as AI, quantum computing and digital assets. The FinTech Awards track continues through the Singapore FinTech Festival and the Global FinTech Hackcelerator with a new Scale-up Grant to help finalists attract investment and expand.
Talent Pipeline and Internship Support
A major element of the manpower track is a new FinTech Internship Portal managed by the Singapore FinTech Association. MAS will co-fund internship stipends and aims to support at least 1,000 fintech internship opportunities over the next three years. The portal will connect fintech firms with students from Institutes of Higher Learning for roles across business, technology and other functions.
Gan emphasized the importance of continued investment in people to build a strong talent pipeline, especially as AI and frontier technologies evolve quickly. Industry leaders noted that talent shortages persist in AI, data, cybersecurity and cloud capabilities. The internship support lowers the cost burden for smaller firms training young professionals who are not yet fully productive.
Industry Response and Competitive Position
The Singapore FinTech Association highlighted the value of the AI Pathfinder track, saying the main challenge is no longer whether financial institutions should experiment with AI but how to deploy proven solutions responsibly and at scale. Some founders suggested that future support could address access to debt funding for fintech players and small and medium-sized enterprises. MAS has supported more than 350 fintech projects and helped open more than 30 centres of excellence under earlier scheme iterations.
The renewed scheme signals Singapore's intent to remain competitive amid rapid technological change and regional competition. Gan noted that financial hubs are not locked in a zero-sum game and that progress in one centre can benefit others. By investing across talent, infrastructure and frontier technologies, Singapore aims to reinforce its ecosystem and create conditions for fintech firms to grow locally and expand internationally.