Face Verification
Address Verification
Document Verification
Age Verification
Video KYC
Fast ID
eIDV
NFC Verification
Consent Verification
Business Verification
Due Diligence
Investor Verification
E-Signature
Behavioural Biometrics
Device Fingerprinting
MFA
AML Screening
Business AML Screening
User Risk Assessment
Transaction Screening
Adverse Media Screening
Identity Verification
KYC
KYB
KYI
Bonus Abuse
Fraud Prevention
Banking
Crypto
Fintech
Forex
Gaming
Gig Economy
Marketplace
Social Networks
Product Managers
Compliance Officers
Fraud Analyst
Global Trust Platform
Journey Builder
Content library
Blogs
News
Reports
Insights
Knowledgebase
ROI calculator
Blind Spot Audit
Deepfake Detection
Liveness Spoofs
Document Originality
Document Deepfake
Events & Webinar
Podcast Studio
Spotlight Studio
API Documentation
Mobile SDKs
Service Status
Help Center
Contact Us
Technical Support
Compliance
Supported Document
About
Career
Press Release
Certifications
Partnership
Awards
Monetary Authority of Singapore to Support G20 TechSprint Initiative
The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator, recently announced that it would be in favor of the launch of the G20 TechSprint initiative, introduced by the Bank for International Settlements (BIS) Innovation Hub and the Saudi G20 Presidency on the API Exchange (APIX) innovation platform.
Monetary Authority of Singapore to Support G20 TechSprint Initiative which Helps Fintechs, Regulators, Reserve Banks in Communicating with Each Other https://t.co/i79biybcOe pic.twitter.com/cXkeVBnFh4
— Crowdfunding News (@Crowdfundnews) May 6, 2020
The APIX is an open-architecture API platform that acts as an international marketplace for financial institutions, regulatory authorities, reserve banks, supervisors, and Fintech firms. APIX assists these business entities in associating and interacting with each other.
The purpose of the TechSprint project is to aid banks and financial regulators working with Fintech firms that are coming up with innovative technology platforms, aiming to follow regulatory and supervisory requirements.
Large-scale meetings have started being conducted digitally instead, because of the deadly Coronavirus pandemic. The APIX platform will allow the TechSprint initiative to connect with central banks, Fintech firms, regulatory authorities, etc. on a digital platform.
After the event, a report will be prepared which will feature options proposed by the shortlisted participants. The MAS said that the winning solutions will be displayed at the upcoming Singapore Fintech Festival.
Ravi Menon, Managing Director at the MAS, stated:
“At a time when much economic activity globally has been curtailed by the COVID-19 pandemic, the work of innovation goes on, powered by technology. The G20 TechSprint has made a virtue out of adversity and is a small indication of the post-COVID world to come.”
Last month the MAS introduced a $125 million support package, to aid local financial institutions and Fintech firms, after the Coronavirus epidemic, and resulting economic instability.
