fintech

Looking to scale your fintech innovation in Singapore? The Monetary Authority of Singapore (MAS) has offers the Financial Sector Technology and Innovation Scheme (FSTI 3.0) to co-fund cutting-edge projects in AI, ESG, quantum tech, and more. Here’s what fintechs and financial institutions need to know to tap into this opportunity. 

 

What Is FSTI 3.0? 

The Financial Sector Technology and Innovation Scheme (FSTI 3.0) is a strategic initiative by MAS to accelerate the adoption of advanced technologies in Singapore’s financial sector. With a budget of S$150 million, FSTI 3.0 supports innovation across five key tracks, helping fintechs align with regulatory standards while driving measurable outcomes. 

 

Key Grant Tracks Under FSTI 3.0

Innovation Acceleration Track

• Focus: Web 3.0, digital assets, and emerging technologies 
• Support: Open calls for real-world use cases 
• Goal: Encourage industry collaboration and commercialization of fintech solutions

 

Artificial Intelligence and Data Analytics (AIDA) Track

• Focus: AI adoption for fraud detection, risk management, and operational efficiency 
• Funding: Up to 50% of qualifying costs 
• Highlights: Establishment of AI innovation centers, Development of high-impact AI models , Secure, privacy-preserving data exchange, Workforce upskilling in AI and data science.

 

Quantum Technology Track

• Focus: Quantum computing and cybersecurity innovation 
• Support: Quantum technology centers , Institutional use cases , Pilots using post-quantum cryptography and quantum key distribution. 
• Funding: Up to 50% co-funding for eligible expenses

 

ESG FinTech Track

• Focus: Environmental, Social, and Governance (ESG) data and analytics 
• Funding: Up to 50% of qualifying costs, capped at S$500,000 
• Goal: Promote responsible innovation and transparency in sustainable finance

 

Enhanced Centre of Excellence (CoE) Track

• Focus: Corporate Venture Capital (CVC) support for fintech startups 
• Funding: Up to 50% of project costs, capped at S$2 million 
• Goal: Strengthen the fintech ecosystem through mentorship and sustainable business models

 

Why This Matters for Fintechs in Singapore 

Singapore is positioning itself as a global fintech and innovation hub, and FSTI 3.0 is a powerful tool to: 

• Accelerate product development 

• De-risk innovation through co-funding 

• Align with national priorities in AI, ESG, and quantum tech 

• Build credibility with regulators and investors 

 

Need Help Navigating FSTI 3.0? 

At FI Group Singapore, we specialize in helping fintech companies: 

• Identify the right grant track 

• Prepare compelling applications 

• Maximize funding and tax incentives 

📩 Contact us today for tailored support and expert guidance. 

Singapore’s Financial Sector Is Evolving, And AI Is Leading the Way 

The Monetary Authority of Singapore (MAS) has released its 2024/25 Annual Report, outlining a bold vision for the future of finance. With a strong emphasis on AI adoption, digital resilience, and sector-wide innovation, MAS is setting the stage for a smarter, safer, and more competitive financial ecosystem. 

At FI Group Singapore, we see this as a strategic opportunity for financial institutions to leverage innovation funding and AI transformation to stay ahead of the curve. 

 

AI Adoption: From Vision to Execution 

MAS is actively fostering responsible AI adoption across the financial sector through: 

• Upskilling the workforce to integrate AI into daily operations 

• Launching PathFin.ai, a pathfinder programme to guide FIs in their AI journeys 

• Issuing supervisory guidance to manage risks associated with AI use 

These initiatives align with FI Group’s core mission: helping companies access R&D tax incentives and public funding to scale innovation responsibly. Whether you’re building AI models or deploying intelligent automation, we help you fund it strategically. 

 

Digital Resilience & Quantum-Safe Security 

MAS is also investing in quantum-safe cybersecurity trials, a forward-looking move to protect digital financial services from future threats. In parallel, MAS is working with banks to introduce stronger safeguards against scams, reinforcing trust in Singapore’s financial infrastructure. 

FI Group supports firms exploring cybersecurity innovation by identifying eligible funding schemes and ensuring compliance with evolving regulations. 

 

Sector Growth Signals Innovation Potential 

Singapore’s financial sector continues to thrive: 

• Assets Under Management (AUM) grew 12.2% YoY, surpassing S$6 trillion 

• Robust performance across banking, insurance, and wealth management 

• Singapore remains a trusted global wealth hub, backed by strong regulatory standards 

This growth presents a fertile ground for AI-driven transformation, and FI Group is here to help financial institutions capitalize on it through strategic funding and innovation planning. 

 

Accessing MAS Grants to Accelerate Innovation 

To support the financial sector’s transformation, MAS offers a suite of targeted grants under the Financial Sector Technology and Innovation (FSTI) scheme. These grants are designed to catalyze AI adoption, ESG integration, and quantum-safe innovation. Key categories include: 

• AI & Digital Innovation: The FSTI 3.0 scheme supports large-scale technology projects that enhance competitiveness and drive digital transformation across financial institutions. 

• Sustainable Finance: The FSTI ESG Grant encourages the development of solutions that embed environmental, social, and governance (ESG) principles into financial services. 

• Quantum-Safe Technologies: MAS’ FSTI Quantum Track includes funding for institution-level and industry-wide innovation projects, the establishment of quantum technology centres, and the development of advanced cybersecurity solutions. 

At FI Group Singapore, we help financial institutions identify the most relevant MAS grants, craft compelling applications, and ensure compliance throughout the funding lifecycle. Whether you’re launching an AI pilot, building ESG-aligned solutions, or exploring quantum innovation, we’re here to unlock your funding potential. 

SPEAK TO OUR EXPERTS

Short Answer: If your business is registered in Singapore, has at least 30% local equity, and is financially ready to start and complete a project that drives growth or transformation, you likely qualify. 

But let’s break it down clearly. 

 

What Is the EDG? 

The Enterprise Development Grant (EDG) supports Singapore-based companies in upgrading, innovating, and expanding overseas. It covers costs related to: 

• Consultancy 

• Equipment and software 

• Internal manpower 

It’s administered by Enterprise Singapore and is one of the most versatile grants available. 

 

EDG Eligibility Checklist 

Here’s a quick way to know if your company qualifies: 

REQUIREMENT	DETAILS
Business Entity	Registered and operating in Singapore
Local Equity	At least 30% held by Singaporean(s) or PR(s)
Financial Health	Able to start and complete the project
Project Status	Must not have started before application
Project Type	Must fall under one of the 3 supported categories (see below)

 

What Types of Projects Are Supported? 

Your project must fall under one of these three strategic categories: 

1. Core Capabilities 

• Business strategy development 

• Financial management 

• Human capital development 

• Strategic branding and marketing 

2. Innovation & Productivity

• Process redesign 

• Automation 

• Product development 

3. Market Access

• Overseas market expansion 

• International branding 

• Market entry strategies 

 

How Much Funding Can You Get? 

• Up to 50% of eligible costs for most projects 

• Up to 70% for sustainability-related projects (until 31 March 2026) 

Funding is reimbursed after project completion and audit. 

Learn more about the EDG here 

 

Not Sure If You Qualify? 

FI Group Singapore offers free eligibility assessments. We’ll help you: 

• Identify the right grant 

• Prepare your application 

• Maximise your funding 

Contact us for a free consultation 

 

Singapore’s startup ecosystem continues to evolve in response to global economic shifts and changing investor priorities. As companies seek to innovate and scale, understanding the latest funding trends and government support mechanisms is essential for success. Recent analysis of Singapore’s venture funding landscape reveals several key developments that are shaping opportunities for startups and established enterprises alike.

 

Key Funding Trends and What They Mean for Your Business

The report underscores that, despite a global slowdown, Singapore remains Southeast Asia’s leading destination for venture capital. Deep tech, biotech, and quantum technology have emerged as priority sectors, with government agencies and investors focusing their attention on early-stage innovation. Notably, the Startup SG Equity scheme has received a significant boost, expanding the pool for deep tech co-investment to over S$1 billion. New initiatives, such as the upcoming SG Growth Capital platform and Stage One, are set to further connect local founders with global resources and partners.

While overall deal values and volumes have moderated, Singapore’s share of regional funding has grown, and sectors like IT Solutions and Manufacturing are seeing robust investment. The funding environment is increasingly competitive, with investors placing greater emphasis on resilience, profitability, and long-term value creation.

How FI Group Adds Value

While Singapore’s funding ecosystem is vibrant, navigating grant applications and compliance requirements can be complex-especially for early-stage startups. FI Group Singapore specializes in guiding startups and innovative SMEs through every step of this journey, ensuring they maximize their chances of success.
Our expert consultants:

• Identify the most suitable grants. One example is the Startup SG Tech Grant, which offers up to S$400,000 for Proof-of-Concept projects and up to S$800,000 for Proof-of-Value projects. This grant is a cornerstone for tech startups looking to validate and commercialise proprietary technology in Singapore.
• Manage the end-to-end application process: From eligibility checks and crafting compelling proposals to compliance, milestone reporting, and post-award support, we streamline the entire process so founders can focus on innovation.

By leveraging our deep technical, financial, and regulatory expertise, FI Group helps clients transform innovative ideas into market-ready solutions-removing administrative hurdles and accelerating access to crucial public funding.

 

In Singapore, financial services are no longer confined to banks or standalone fintech apps. Instead, they’re woven seamlessly into the digital platforms people use every day—shopping, booking rides, or managing their businesses. This evolution, known as embedded finance, is giving rise to a new breed of “super apps” that are redefining convenience and accessibility for millions.

 

Super Apps in Action: Everyday Innovation 

 Imagine ordering dinner, paying your bills, buying insurance, and investing in stocks—all within a single app. In Singapore, this is already a reality. 

• Grab has evolved from ride-hailing to a one-stop digital wallet, micro-lending, and insurance provider. 

• Shopee integrates payments and “buy now, pay later” options directly into its e-commerce experience. 

• GXS Bank and other digital banks are building ecosystems that offer frictionless onboarding, instant payments, and personalized financial products. 

These platforms are fundamentally changing how consumers and businesses interact with money. 

 

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Looking to fund your embedded finance innovation?
At FI Group, we help fintechs and digital platforms access R&D tax incentives, innovation grants, and government funding.
Talk to our experts and discover how we can support your growth.

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Behind the Scenes: The R&D Powering Embedded Finance

 What makes this seamless experience possible? 

• API Development: R&D teams are building secure, scalable APIs that connect banks, fintechs, and merchants in real time. 

• Data Analytics: Advanced analytics personalize offers, manage risk, and improve customer journeys. 

• Security & Compliance: Continuous innovation in authentication and fraud prevention ensures trust in every transaction. 

 

Opportunities for SMEs and the Wider Economy 

Embedded finance isn’t just for consumers. SMEs in Singapore now access credit, manage invoices, and make cross-border payments directly within their business platforms, streamlining cash flow and reducing administrative friction. 
By integrating financial tools into everyday workflows, embedded finance is leveling the playing field for smaller businesses and fueling economic growth. 
 

Government Support: Accelerating the Embedded Finance Revolution

Recognizing the transformative potential of embedded finance, Singapore’s government has rolled out a suite of supportive measures: 

• FSTI 3.0 Grant for payments and digital banking innovation 

• Enterprise Development Grant (EDG) for product development and market expansion 

• Enterprise Innovation Scheme offering extensive tax deductions to companies conducting R&D projects.  

These initiatives lower barriers to entry and encourage experimentation, ensuring Singapore remains at the forefront of digital finance. 

For more on Singapore’s fintech transformation, read Singapore’s 2025 Fintech Innovations.
 

How FI Group Can Help You Seize the Moment

With the embedded finance landscape evolving rapidly, navigating funding and regulatory opportunities can be complex.  

In today’s fast-paced digital economy, cybersecurity has become a top priority for businesses in Singapore. With the rise of sophisticated cyber threats, companies are increasingly turning to Artificial Intelligence (AI) to bolster their defenses. AI offers transformative solutions such as real-time threat detection, automated incident response, and predictive analytics. However, adopting AI-driven cybersecurity solutions can be resource-intensive. This is where FI Group Singapore comes in, helping businesses access public funding, grants, and incentives to support their R&D efforts in AI technologies. 
Discover how AI is reshaping cybersecurity and learn how your business can take advantage of government-backed funding opportunities. 

Trends in AI Cybersecurity  

1. Predictive Threat Detection: AI algorithms can analyze vast amounts of data to predict and identify potential threats before they occur. This proactive approach helps in mitigating risks more effectively than traditional reactive methods. 

2. Automated Incident Response: AI systems can automate the response to security incidents, reducing the time and effort required to contain and resolve threats. This automation ensures that businesses can quickly recover from attacks and minimize downtime. 

3. Enhanced Network Monitoring: AI-powered systems continuously monitor network traffic to detect anomalies and suspicious activities. This real-time monitoring allows for swift action against potential threats. 

Opportunities for Singapore Businesses 

Singapore’s robust cybersecurity framework, coupled with government initiatives like the Cyber Security Agency of Singapore (CSA), provides a conducive environment for businesses to leverage AI in cybersecurity. Here are some opportunities: 

1. Access to Grants: Singapore provides funding schemes such as CSA Cybersecurity Co-Innovation and Development Fund (CCDF) 

2. Encouraging R&D Investment: Businesses investing in cybersecurity R&D can benefit from tax deductions under the Enterprise Innovation Scheme (EIS).  

3. Collaboration and Innovation: Singapore’s vibrant tech ecosystem encourages collaboration between startups, established companies, and research institutions, fostering innovation in AI cybersecurity solutions. 

How FI Group Can Help  

At FI Group Singapore, we specialize in helping businesses obtain public funding opportunities for R&D projects, including those focused on AI-Driven cybersecurity solutions. Our team of experts works closely with you to identify and apply to grants and incentives in Singapore, assessing your project’s eligibility for government funding programs tailored to AI and cybersecurity R&D.  

By partnering with us, you can focus on developing cutting-edge cybersecurity technologies while we handle the complexities of securing financial support.  

Take the Lead in Cybersecurity Innovation 

AI is revolutionizing the way businesses approach cybersecurity, but implementing these advanced solutions often requires significant investment. Fortunately, Singapore’s government offers extensive support through grants and incentives for companies pursuing R&D in this area. FI Group is here to help you navigate these opportunities and secure the funding you need to innovate confidently.  

 

Imagine a world where financial transactions happen instantly across borders, where artificial intelligence detects fraud before it occurs, and where sustainable finance is reshaping global markets. In Singapore, this is not a vision of the future—it’s the reality of 2025.

As one of the world’s leading FinTech hubs, Singapore is at the forefront of financial innovation. Supported by a progressive government, cutting-edge technologies, and a vibrant startup ecosystem, the city-state is setting new standards for what FinTech can achieve. From AI-driven financial services to decentralized finance (DeFi) solutions, Singapore is leading the way in creating a more connected, inclusive, and sustainable financial system

1. Key Trends Shaping FinTech in 2025

Singapore’s FinTech ecosystem is evolving rapidly, driven by innovation in key areas such as:

• Digital Payments: Ubiquitous adoption of real-time payment platforms like PayNow and cross-border digital payments has made transactions seamless. In 2025, new interoperability standards are being developed to enhance global payment networks.
• Decentralized Finance (DeFi): Singapore-based FinTechs are pioneering blockchain-powered solutions, offering decentralized lending, borrowing, and asset management platforms.
• AI in Financial Services: Artificial intelligence is being used to automate customer service, credit risk assessments, and fraud detection, making financial services faster and more secure.
• Green Finance: Sustainable finance solutions, including green bonds and ESG-focused investments, are becoming mainstream, with Singapore as a key player in driving environmentally conscious financial innovations.

2. Government Support for FinTech in Singapore

Singapore’s FinTech sector benefits from significant government support, creating a fertile environment for growth. Some Fintech grants and funding programs initiatives are the R&D Tax Incentives and the MAS Financial Sector and Technology Scheme (FSTI).

Navigating the landscape of grants and incentives can be challenging for FinTech companies. FI Group Singapore provides tailored solutions to help businesses unlock their full potential, including:

• Identifying Relevant Programs: We match your FinTech innovation with appropriate funding schemes, including MAS grants and R&D tax incentives.
• Simplifying Applications: Our experts guide you through the complexities of grant applications and ensure compliance with regulatory requirements.
• Maximizing Tax Incentives: We optimize tax relief for R&D activities and ensure your business benefits from available schemes like the Productivity and Innovation Credit (PIC).

By partnering with FI Group, FinTech companies can focus on scaling their solutions while we handle the intricacies of public funding and tax optimization.

4. The Future of FinTech in Singapore

As Singapore continues to innovate, the FinTech industry is set to further integrate AI, blockchain, and sustainability into financial services. With strong government support and expert guidance from partners like FI Group, FinTech companies are poised to shape the future of global finance from the heart of Asia.

Download our comprehensive FinTech case study to learn more about how innovative solutions are transforming the financial landscape.