The Monetary Authority of Singapore (MAS) has committed S$220 million ($173 million) over three years to support financial technology development, artificial intelligence adoption, and industry infrastructure under the fourth edition of its Financial Sector Technology and Innovation Scheme.
The renewed programme, known as FSTI 4.0, will provide support through six tracks covering institutional projects, AI solutions, technology infrastructure, innovation centres, talent development and fintech competitions, MAS said.
The scheme will focus on anchoring innovation activities in Singapore and accelerating the development and deployment of financial technologies. Priority areas include AI, distributed ledger technology, quantum technology, and digital assets.
Singapore is home to more than 1,800 fintech companies employing nearly 10,000 people across technology, data, AI, compliance, cybersecurity and business functions, according to MAS. fintech investment in the city-state reached S$2.9 billion in 2025.
Under the institution project track, MAS will support Singapore-based financial institutions and fintech firms developing and deploying new technology.
The programme’s emphasis on frontier technologies suggests that funding will increasingly be directed toward projects moving beyond conventional digitalisation.
A separate AI Pathfinder track will support financial institutions adopting market-ready AI products listed on PathFin.ai, a platform intended to connect financial companies with AI solution providers.
The initiative is designed to move participating products from experimentation into wider commercial use.
However, the announcement did not disclose how much of the S$220 million would be allocated specifically to AI projects or the level of co-funding available to individual applicants.
The infrastructure and platform track will support shared systems intended to improve efficiency, productivity, and innovation across the financial sector.
It will also cover work involving financial standards and interoperability frameworks.
Another track will provide support for centres of excellence established in Singapore by global financial institutions and fintech companies. The programme is intended to bring specialised functions and expertise into the country, particularly in AI, quantum computing and digital assets.
FSTI 4.0 also includes a manpower track that will co-fund internship stipends paid by FinTech firms. MAS aims to support at least 1,000 internship opportunities over the next three years.
A new portal managed by the Singapore FinTech Association will connect FinTech companies with students from institutes of higher learning for internships covering technology, business and related roles.
The scheme will continue supporting the Singapore FinTech Festival’s FinTech Excellence Awards and the Global FinTech Hackcelerator.
MAS will introduce a Global FinTech Hackcelerator Scale-up Grant to help eligible finalists continue developing and validating their products after the competition. The support is intended to help participating companies secure private investment and expand their businesses.
The regulator did not provide details about the size of the scale-up grants or the eligibility requirements.
FSTI 4.0 continues Singapore’s use of public co-funding to influence technology investment across its financial industry.
The programme extends beyond startup financing by also supporting established financial institutions, shared infrastructure and international companies locating specialised operations in the country.
The breadth of the programme may help move more projects from pilot stages into deployment, particularly in AI.
Its effectiveness will ultimately depend on how the S$220 million is distributed, the amount of private capital it attracts and whether supported projects achieve adoption beyond subsidised trials.