Read this is an excerpt from the original article that appeared in fintechnews.sg.

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The Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) announced today that 40 finalists have been shortlisted for the FinTech Awards to be presented at this year’s Singapore FinTech Festival x Singapore Week of Innovation and Technology (SFF x SWITCH).

The finalists were selected by a panel of industry judges from a total of 245 submissions. Many of the submissions from the growing FinTech community came from sectors such as RegTech, wealth management and cybersecurity.

Financial inclusion was also a key area of focus amongst this year’s finalists, with a significant number of submissions geared towards improving banking access for underserved individuals as well as small and medium enterprises.

The finalists will pitch their innovations during SFF x SWITCH, and compete for a total of S$1.2 million in prize money. The winners of the FinTech Awards will be announced at SFF x SWITCH. The 40 finalists of the FinTech Awards will also be invited to a dedicated Deal Friday networking session organised by MAS and PwC Singapore just for them to showcase their innovations to investors.

Mr Sopnendu Mohanty, Chief FinTech Officer, MAS, said,

“Several of our FinTech Awards finalists from past years have gone on to achieve success in the industry . This year, it is heartening to see a growing number of submissions promoting financial inclusion and sustainability. We are inspired by the innovative ways in which FinTechs are solving business challenges on a global scale. We look forward to seeing the finalists present their solutions to prospective partners and investors, and benefit from this exposure, at SFF x SWITCH and Deal Friday.”

Mrs Ong-Ang Ai Boon, Director, ABS, added,

“ABS is pleased to partner with MAS in the annual Singapore FinTech Festival and sponsorship of the Global Award to recognise and celebrate the achievements of innovative solution providers in the FinTech space. In the digital economy, harnessing the power of technological advancement is key to a vibrant banking industry, enabling banks to create transformative and trusted products and services that benefit their customers.”

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CredoLab has been named as one among them. Take a look at the entire list here.