The Monetary Authority of Singapore (MAS) has committed S$220 million (approximate $172.7 million) over the next three years to boost financial technology adoption under its renewed Financial Sector Technology and Innovation (FSTI 4.0) scheme.
The Monetary Authority of Singapore (MAS) has announced a fresh commitment of 220 million Singapore dollars (approximately $172.7 million) over the next three years to boost financial technology development and speed up digital adoption across the country.
The funding is part of the central bank’s newly launched Financial Sector Technology and Innovation Scheme (FSTI 4.0) which focuses heavily on advanced technologies like artificial intelligence (AI), quantum computing and blockchain.
The FSTI 4.0 program will be rolled out across six specialized tracks designed to address different areas of the tech sector. The Institution Project Track provides funding for financial institutions and tech firms developing solutions using advanced tools like AI, distributed ledger technology and quantum technology while the AI Pathfinder Track helps financial companies adopt market-ready AI tools safely and responsibly.
To address talent, the Manpower Track focuses on building local expertise by co-funding fintech internships through a new dedicated student-company portal, alongside the Centre of Excellence Track, which encourages global financial firms and tech enterprises to set up specialized research hubs in Singapore.
Finally, the Infrastructure and Platform Track supports sector-wide technology tools to create common standards and cross-border compatibility while the MAS FinTech Awards Track provides direct grants to help top startups and competition finalists turn their ideas into commercial products and attract private investment.
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The FSTI initiative was first introduced in 2015 with an initial 225 million Singapore dollars. MAS later added 250 million Singapore dollars in 2020 to focus on AI, followed by 150 million Singapore dollars in 2023 under FSTI 3.0 to target sustainability and innovation.
Today, Singapore’s fintech ecosystem has expanded significantly, drawing 2.9 billion Singapore dollars in investments in 2025 alone. The country is now home to more than 1,800 fintech companies employing nearly 10,000 professionals across cybersecurity, AI, compliance and technology management.
