Singapore has launched an industry-wide initiative to accelerate the adoption of artificial intelligence in financial services, with a focus on helping institutions deploy AI agents and manage the risks associated with the technology.
The Future of Finance Institute (FFI) commenced operations this week, bringing together financial institutions, technology companies, and research organisations to develop practical approaches to using AI across the sector, the Monetary Authority of Singapore (MAS) said.
The institute will initially focus on three areas: sharing knowledge on AI applications, developing capabilities for AI deployment, and strengthening risk management practices.
Under its PathFin.ai programme, FFI will establish a knowledge hub to help financial institutions identify and assess AI solutions, while creating industry groups where practitioners from banking, insurance, capital markets, financial advisory, and payments can exchange experiences and discuss implementation challenges.
Its BuildFin.ai initiative will focus on developing industry guidance, standards and common tools for deploying AI, including agentic AI systems that can perform tasks with varying degrees of autonomy.
The institute will work with financial institutions, technology providers and research organisations to develop safeguards for these applications, building on the SAFR framework recently introduced by MAS and industry participants.
Risk management will form the third pillar of the programme. Through SafeFin.ai, FFI will help financial institutions put MAS’ AI risk management guidelines into practice, including assessments of individual AI applications, testing procedures, and oversight of third-party AI providers.
The initiative comes as financial institutions explore ways to integrate generative AI and autonomous systems into their operations, while grappling with questions around reliability, accountability, and regulatory compliance.
FFI will gradually extend its work to other areas of financial innovation, including tokenisation, MAS said.
Alan Lim has been appointed interim chief executive of the institute. He will retain his position as head of MAS’ Financial Infrastructure and AI Office while overseeing FFI’s strategy and operations.
MAS Managing Director Chia Der Jiun said the institute would provide a platform for the public and private sectors to combine their expertise in emerging technologies.
The initiative is intended to strengthen Singapore’s capabilities in financial technology while connecting financial institutions with technology firms and researchers to support the responsible adoption of new solutions.
FFI was announced in June 2026 as part of Singapore’s efforts to accelerate financial innovation through collaboration between regulators and industry participants.
