Singapore commits S$220M to fintech amid private funding slowdown

Singapore announced on Monday, August 31, 2026, a commitment of S$220 million (approximately US$173 million) over the next three years to bolster its financial technology sector. The funding, unveiled by the Monetary Authority of Singapore (MAS), is designed to accelerate innovation, boost technology adoption, and develop a talent pipeline for the industry. The investment falls under the fourth iteration of the Financial Sector Technology and Innovation scheme, known as FSTI 4.0. Deputy Prime Minister and MAS Chairman Gan Kim Yong stated the program aims to help financial institutions, fintech firms, and workers innovate and build capabilities to seize emerging opportunities, particularly in artificial intelligence. He emphasized that the financial industry is not a zero-sum game and that Singapore competes globally, including with Hong Kong. FSTI 4.0 is structured around six funding tracks targeting areas such as accelerating technology adoption, building shared infrastructure for smaller players, and anchoring high-value innovation projects. A central component is a talent development track, which will cofund at least 1,000 fintech internships over the three-year period.