MAS Fintech Contest Puts AI in Banking, Wealth and SME Risk in the Spotlight

The Monetary Authority of Singapore has launched its 2026 Global FinTech Hackcelerator, calling on fintech firms and solution providers to demonstrate how artificial intelligence can address pressing challenges in financial services. Organised with the Global Finance and Technology Network, this year's contest focuses on three themes: integrating credit and fraud risk modelling in digital banking, reimagining wealth management for a digitally native generation, and helping small and medium-sized enterprises assess, quantify and manage their business risks. The 2026 edition is backed by corporate champions including a Singapore digital bank, a global wealth manager and a major insurer, each contributing a real-world problem statement drawn from live business priorities. Up to 20 finalists will receive a cash stipend, mentoring and the chance to work with a corporate champion before pitching at a demo day during the Singapore FinTech Festival in November. MAS also opened applications for its FinTech Excellence Awards, which recognise innovation, financial inclusion and responsible AI adoption. Applications for both programmes close in August. The initiative underscores Singapore's strategy of using structured, industry-linked competitions to channel emerging technology toward practical, deployable solutions across banking, insurance and wealth management.