Singapore commits S$220 million to boost fintech innovation and AI adoption
By Axel Miller | 31 Aug 2026
Summary
- New funding commitment: The Monetary Authority of Singapore will commit S$220 million over three years under the Financial Sector Technology and Innovation Scheme 4.0 to support fintech innovation and technology adoption.
- Focus on frontier technology: The programme will operate through six tracks covering AI adoption, institutional projects, infrastructure, talent development and innovation.
- Building the talent pipeline: MAS aims to support at least 1,000 fintech internship opportunities over the next three years through a new internship initiative.
SINGAPORE, August 31, 2026 — Singapore will commit S$220 million over the next three years to strengthen its fintech ecosystem and accelerate innovation and technology adoption across the financial sector.
The funding will be provided under the fourth iteration of the Financial Sector Technology and Innovation Scheme, known as FSTI 4.0, the Monetary Authority of Singapore said on Monday.
Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, who is also chairman of MAS, said the renewed programme is intended to help Singapore’s financial institutions, fintech companies and workforce build capabilities and capture opportunities arising from artificial intelligence and other frontier technologies.
FSTI was first launched in 2015 to support technology and innovation in Singapore’s financial sector. Since then, the programme has supported more than 350 fintech projects.
Singapore is currently home to more than 1,800 fintech firms employing close to 10,000 professionals across technology, data, artificial intelligence, compliance, cybersecurity and business roles. Fintech investments in the country reached S$2.9 billion in 2025, according to MAS.
Six tracks to support innovation
FSTI 4.0 will be implemented through six tracks designed to support different parts of Singapore’s financial technology ecosystem.
The Manpower track will support fintech firms in developing a pipeline of young talent by co-funding internship stipends. A new FinTech Internship Portal, managed by the Singapore FinTech Association, will connect fintech companies with students from Institutes of Higher Learning.
MAS aims to support at least 1,000 fintech internship opportunities over the next three years.
The Institution Project track will support Singapore-based financial institutions and fintech firms in developing and deploying innovative solutions. Its focus includes frontier technologies such as artificial intelligence, distributed ledger technology and quantum technology.
Under the AI Pathfinder track, MAS will support the scaling and adoption of market-ready AI fintech solutions listed on the PathFin.ai platform. The initiative is intended to encourage collaboration between financial institutions and AI solution providers.
The Infrastructure and Platform track will support industry-wide infrastructure and platforms aimed at improving efficiency, productivity and innovation across the financial sector.
Meanwhile, the Centre of Excellence track is designed to anchor innovation activities of leading global financial institutions and fintech companies in Singapore. It will support specialised talent and expertise in emerging areas including AI, quantum computing and digital assets.
The sixth track, covering the MAS FinTech Awards, will continue to promote Singapore’s fintech ecosystem through initiatives including the Singapore FinTech Festival and the Global FinTech Hackcelerator.
MAS will also introduce a GFH Scale-up Grant to help eligible finalists further develop and validate their solutions, attract private investment and expand their businesses.
AI and frontier technologies take centre stage
A central focus of FSTI 4.0 is the adoption and deployment of frontier technologies across Singapore’s financial sector.
MAS said the programme will support the development and use of technologies including AI, distributed ledger technology and quantum technology.
The initiative comes as financial institutions increasingly explore the use of AI to improve operations, develop new products and services, and manage increasingly complex data and technology requirements.
Gan said Singapore intends to capture new growth opportunities created by AI and other frontier technologies while maintaining its competitiveness as a global financial and fintech hub.
Strengthening Singapore’s fintech ecosystem
The latest funding commitment is intended to support fintech companies at different stages of development, from creating new technology solutions to expanding regionally and globally.
MAS said FSTI 4.0 has four main goals: anchoring and scaling innovation activities in Singapore, accelerating the development and adoption of financial technologies, developing technology infrastructure, and supporting talent development and attraction.
The programme is part of Singapore’s wider effort to maintain a competitive financial sector as technology continues to reshape banking, payments, investment and other financial services.
Gan said Singapore faces competition from financial centres around the world but described the industry’s development as not necessarily a zero-sum game.
He said Singapore would continue working to improve its capabilities as other financial centres also advance.
Why this matters
- More funding for fintech: The S$220 million commitment provides new support for technology development and innovation across Singapore’s financial sector.
- AI adoption: The AI Pathfinder track is designed to help financial institutions adopt market-ready AI fintech solutions.
- Frontier technology focus: FSTI 4.0 supports development in areas including AI, distributed ledger technology and quantum technology.
- Talent development: MAS aims to support at least 1,000 fintech internship opportunities over three years.
- Global competitiveness: The programme is intended to strengthen Singapore’s position as a major international fintech hub.
FAQs
Q1: What is FSTI 4.0?
FSTI 4.0 is the fourth iteration of Singapore’s Financial Sector Technology and Innovation Scheme. It provides funding and support for fintech innovation, technology adoption, infrastructure and talent development.
Q2: How much is Singapore committing to FSTI 4.0?
MAS will commit S$220 million over three years to support the next phase of fintech innovation and technology adoption.
Q3: What technologies will FSTI 4.0 support?
The programme will focus on frontier technologies including artificial intelligence, distributed ledger technology and quantum technology.
Q4: What is the AI Pathfinder track?
The AI Pathfinder track supports the scaling and adoption of market-ready AI fintech solutions listed on the PathFin.ai platform.
Q5: How many fintech internships will the programme support?
MAS aims to support at least 1,000 fintech internship opportunities over the next three years.