OVERVIEW
Organised by the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS), the MAS FinTech Awards and ABS Global FinTech Award represent the industry's highest accolade for FinTech innovation. These awards seek to celebrate the spirit of innovation in the financial sector by providing recognition to innovative FinTech projects that have been implemented in Singapore and around the world. Recognition will be provided to FinTech projects implemented/ deployed by entities across 4 categories:
- MAS FinTech Awards (Singapore Founder): Singapore-based SMEs 1s with at least one Singaporean founder. The term 'founder' is defined as an individual who was instrumental in setting up the SME. There is no need for majority share-ownership.
- The SME must have a physical office registered in Singapore
- The solution must have been implemented/ deployed in Singapore
- MAS FinTech Awards (Singapore SME): Singapore-based SMEs
- The SME must have a physical office registered in Singapore
- The solution must have been implemented/ deployed in Singapore
- MAS FinTech Awards (Singapore Open): Singapore-based companies of any size
- The company must have a physical office registered in Singapore
- The solution must have been implemented/ deployed in Singapore
- ABS Global FinTech Award: FinTech project implemented in any part of the world
1 SPRING defines SMEs as companies with annual sales turnover of not more than S$100mil or employment size of not more than 200 workers.
RULES & FORMAT
- Qualifying Period: Projects implemented before 30 June 2017 will be eligible for consideration.
- Prize pool & winning entries: $1.15M for up to 10 winners
- Deadline for submission: 14 Aug 2017, Monday (2359 hrs, Pacific Time)
EVALUATION PROCESS
A panel of judges will be appointed to assess entries. The judges will represent a cross section of experts from the private and public sector (e.g. venture capitalists). Entries will be assessed on a 40-point scale on the following:
- Impact (10 points): Considerations include productivity, profitability, user experience, risk management, knowledge-transfer, and applicability beyond the financial sector
- Practicality (10 points): Examples include ease of implementation, scalability, and cost-effectiveness
- Interoperability (10 points): Ability for the solution to interface with other systems
- Uniqueness & Creativity (10 points): Extent to which the solution differs from the status quo. One possible dimension could be through the approaches/technologies used to address specific problem(s). Examples include, but are not limited to APIs, big data, biometrics, blockchain, virtual reality, internet of things, machine learning, artificial intelligence, credit scoring, predictive analytics, quantum processing, risk profiling, and smart contracts.
FREQUENTLY ASKED QUESTIONS
Can I submit multiple entries? What category would my project fall under?
You may submit multiple entries as long as they relate to different projects. There is no need to indicate which category you are applying to, as the evaluation team will decide on the best category fit for a given entry.
My project was implemented on [Date]. Does this fall under the qualifying period?
Projects, including betas and proofs of concept, will be eligible for consideration if the date of completion falls before 30 Jun 2017.
How many winners will there be across the categories? What is the prize breakdown across the categories?
There is no predetermined number of winners across the categories. MAS and ABS have made provisions for up to SGD$1.15M for up to 10 winners across 4 categories and reserve the right to revise the figure depending on the number and quality of eligible entries. For the ABS Global FinTech Award, there is a maximum of one winner.
How are SMEs defined?
SMEs (Small-Medium Enterprises), as defined by SPRING, are enterprises with an annual sales turnover of not more than SGD$100 million OR an employment size of not more than 200 workers. Enterprises qualify as SMEs as long as they satisfy at least one of the two parameters above.
SECTION 1: Company & Project/ Solution Information
- The information provided in this section will be shared with the panel of judges for evaluation.
- You may supplement your points with web-based links to videos or PowerPoint decks.
- Provide concrete examples and use-cases to substantiate your points.
- All text-boxes are compulsory to be filled. Indicate "NA" when not applicable.
This question requires a valid date format of DD/MM/YYYY.
This question requires a valid date format of DD/MM/YYYY.
8. Social media URL (Indicate "NA" if not applicable) *This question is required.
(1) Impact: Examples include productivity, profitability, user experience, risk management, knowledge-transfer, and applicability beyond the financial sector.
(Word limit: 300 words)
(2) Practicality: Examples include ease of implementation, scalability, and cost-effectiveness.
(Word limit: 300 words)
(3) Interoperability: Ability for the solution to interface with other systems.
(Word limit: 300 words)
(4) Uniqueness & Creativity: Extent to which the solution differs from the status quo. One possible dimension could be through the approaches/ technologies used to address specific problem(s).
(Word limit: 300 words)
Additional Documents
You may attach 1 PDF file in this section (<10MB) to support your submission. This could be a pitch deck, presentation, product screenshots, executive summary or any other information that would be useful to the judges.
17. Upload a PDF file (<10MB) that will enable us to further evaluate your project or product/technology solution.
Click on the 'upload' button after selecting your file before submitting. *This question is required.
SECTION 2: FOUNDER DETAILS
- Founders' information may be used in various collateral for the Singapore FinTech Festival 2017.
- All information provided will be for MAS' internal use. It will not be shared with external parties (e.g. judging panel)
- All text-boxes are compulsory. Indicate "NA" when not applicable.
SECTION 3: COMPANY INFORMATION
- The questions in this section will determine the category your solution will be up for winning.
- All information provided will be for MAS' internal use. It will not be shared with external parties (e.g. judging panel)
- All text-boxes are compulsory to be filled. Indicate "NA" when not applicable.
Upload a PDF file (e.g. Client invoice, purchase order, contracts, emails, newspaper articles) that will enable us to validate your submission's category fit.
PDF Size (<2MB)
Click on the 'upload' button after selecting your file before submitting. *This question is required.
Upload a PDF file (e.g. Client invoice, purchase order, contracts, emails, newspaper articles) that will enable us to validate your submission's category fit.
PDF Size (<2MB)
Click on the 'upload' button after selecting your file before submitting. *This question is required.
23. Annual Sales Turnover *This question is required.
SECTION 4: ACKNOWLEDGEMENT