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FSTI 3.0 : Revolutionising Singapore's Financial Landscape

FSTI 3.0

Singapore’s financial landscape is set to undergo a transformation as the Monetary Authority of Singapore (MAS) unveils Financial Sector Technology and Innovation 3.0 (FSTI 3.0). Committing a S$150 million budget to the scheme, MAS aims to drive innovation in finance using the latest technologies.

Taking a Closer Look

The Enhanced Centre of Excellence Track now includes Corporate Venture Capital (CVC) entities, enabling startups supported by CVCs to secure up to 50% funding, capped at S$2 million per project. Additionally, MAS collaborates with the industry in the Innovation Acceleration Track, inviting real-world testing of cutting-edge technologies and supporting trials for innovative FinTech solutions. FSTI 3.0 prioritises nurturing local FinTech talent, ensuring Singapore's leadership in global financial innovation.

FSTI 3.0 Scheme Summary | Infographics: Monetary Authority of Singapore (MAS)
FSTI 3.0 Scheme Summary | Infographics: Monetary Authority of Singapore (MAS)

Frontiers of Innovation

With FSTI 3.0, MAS collaborates with the industry to bring meaningful financial innovation, and retaining a steadfast focus on pivotal technological frontiers. By embracing Artificial Intelligence and Data Analytics (AIDA), smaller financial firms gain a digital edge with MAS's support in obtaining Regulation Technology (RegTech) solutions. Meanwhile, the Environmental, Social, and Governance (ESG) FinTech track emphasises ESG solutions, driving sustainable financial innovation through projects centred on ESG data, reporting, and analytics.

Regulatory Technology Grant

The Regulatory Technology ("RegTech") Grant aims to enhance the adoption and integration of RegTech solutions in Financial Institutions in Singapore, streamlining risk management and compliance processes through technology. To find out if your company is eligible for this grant, visit our Grants page here for more details.


To ensure a secure financial landscape, businesses can rely on Cynopsis Solutions' Artemis 3.0. This cutting-edge AML/KYC solution empowers organisations with making informed decisions while enhancing due diligence processes.

Artemis 3.0 offers comprehensive insights into potential client risks, aligning perfectly with Singapore's commitment to maintaining a resilient financial ecosystem. At Cynopsis, we proactively assist clients in thoroughly screening their client databases against specific names, promptly notifying them of any matches. This equips our clients with vital information to take immediate, appropriate actions, including reporting any suspicious transactions.


About Cynopsis Solutions   

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Cynopsis Solutions helps companies digitize and automate AML/KYC compliance processes. Our focus is on know-your-customer, anti-money laundering, and counter-terrorism financing. Cynopsis Solutions’ accolades include MAS FinTech Awards, RegTech100, and Financial Times Top 50 High Growth Companies in APAC.Our end-to-end KYC/AML solutions are designed according to the global FATF recommendations and applicable in more than 180 jurisdictions. We've helped firms across various industries, not limited to Banking and Financial Services, FinTech, Blockchain companies and Designated Non-Financial Businesses and Professionals.

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