Bid to boost Singapore's FinTech talent

11/16/2017 4:33:43 PM
written By : Team India Se Print

Singaporeans will be better skilled for infocomm technology (ICT ) jobs under the new TechSkills Accelerator (TeSA) FinTech Collective.

This was announced in a joint press release by the Infocomm Media Development Authority (IMDA) and the Monetary Authority of Singapore (MAS). They signed a landmark memorandum on November 16 with SkillsFuture Singapore (SSG), six local universities, and five financial associations.

Initiatives under the Collective include research collaborations in FinTech with the universities, new courses in FinTech specialisations and mentorships  with finance professionals to help students understand FinTech trends.

 The Collective was first announced by   Ong Ye Kung, Minister for Education (Higher Education and Skills) and Second Minister for Defence, at the Singapore FinTech Festival welcome dinner on November 13.

Everyone  from undergraduate and postgraduate students to professionals can benefit from TechSkills Accelerator, an initiative of SkillsFuture.

Ms Jacqueline Loh, Deputy Managing Director, MAS, said: “This unprecedented, large-scale collaboration among the government, financial industry, and universities will help to build a deep FinTech talent pool in Singapore.”

In 2016, the financial sector was the second biggest hirer of ICT professionals in Singapore, right after the ICT sector itself . There are more than 24,300 ICT professionals employed in the financial sector, a sharp increase of more than 25 per cent from the 19,100 in 2015.

The memorandum was signed by

The MOI is entered into by the various institutions and financial associations:
i. Nanyang Technological University, Singapore (NTU Singapore)
ii. National University of Singapore (NUS)
iii. Singapore Institute of Technology (SIT)
iv. Singapore Management University (SMU)
v. Singapore University of Social Sciences (SUSS)
vi. Singapore University of Technology and Design (SUTD)
vii. General Insurance Association of Singapore (GIA)
viii. Investment Management Association of Singapore (IMAS)
ix. Life Insurance Association of Singapore (LIA)
x. Singapore Fintech Association (SFA)
xi. The Association of Banks in Singapore (ABS)
xii. Infocomm Media Development Authority (IMDA)
xiii. Monetary Authority of Singapore (MAS)


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