The Monetary Authority of Singapore ( MAS ) has announced the 42 finalists for the 2025 Global Fintech Hackcelerator and Singapore Fintech Festival ( SFF ) Fintech Excellence Awards, which this year have artificial intelligence ( AI ) as the central innovation theme.

This year’s awards, held in collaboration with the Global Finance Technology Network and titled “Artificial Intelligence for Financial Services”, drew submissions from innovators worldwide seeking to address real-world financial challenges using AI.

The awards, jointly organized with the Singapore Fintech Association ( SFA ) and supported by PwC Singapore, the MAS notes, “honour innovative fintech solutions by corporates and individuals that are reshaping industry practices and driving the adoption of novel technologies to expand financial inclusion and enhance service delivery”.

The 18 selected finalists will participate in a four-day programme, receiving mentorship and access to industry networks, culminating in a demo day on November 12 during the SFF.

Winners will be awarded S$80,000 ( US$61,600 ) each, and this year’s competition introduces a new component featuring five investment partners – 1982 Ventures, FinTech Nation, Monk’s Hill Ventures, Openspace Capital and KBTG – which have committed S$2.5 million in potential funding for promising solutions.

“These exceptional innovators reflect Singapore’s thriving fintech talent pool and exemplify the forward-thinking spirit that is driving our fintech ecosystem,” says Holly Fang, the SFA’s president. “The SFA remains dedicated to championing bold ideas and fostering a collaborative environment to continue building a future-ready fintech landscape that positions Singapore as a global hub for innovation.”

For the third year running, the Fintech Gives Back initiative saw nine members of the fintech community – among them, Ripple, Visa, HeyMax, Aspire, Experian, Lexis Nexis, Sumsub, Syfe and YouTrip – contributing generously to support the awards.

“We are also encouraged by the continued enthusiasm for the FinTech Gives Back initiative, which reflects,” adds Kenneth Gay, the MAS’ chief fintech officer, “our community’s dedication to fostering innovation and supporting the next generation of fintech leaders.”