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CFTE is Helping MAS Assist ASEAN Finance Professionals Gain FinTech Skills

Last Updated March 4, 2021 4:58 PM
Rebecca Campbell
Last Updated March 4, 2021 4:58 PM

The Centre for Finance, Technology and Entrepreneurship (CFTE) has revealed that it is setting up an international hub in Singapore designed to aid finance professionals gain the necessary skills in FinTech.

With its public launch having taken place in May, CFTE is an education platform for finance professionals to adapt to the new world of Finance 2.0. According to its website, ‘technology is causing considerable changes in finance.’

As such the organization is keen to provide finance professionals with the technology-related skills they need to keep up with the advancing sector.

Working closely with the Monetary Authority of Singapore (MAS), CFTE has been formalizing plans to expand its education platform to the Association of Southeast Asian Nations (ASEAN), according to a report from FinTech Finance.

Sopnendu Mohanty, Chief FinTech Officer, MAS, said:

We welcome CFTE to set up its education hub in Singapore. The people factor is crucial for the success in FinTech as well as our innovation-driven Smart Financial Centre. It is at the heart of what we do to sustain and grow the FinTech movement in Singapore, through a vibrant range of channels and opportunities for people to develop deep skills that are relevant to the market.

With emerging fintech businesses disrupting traditional finance services, forward-thinking companies are delivering on innovative products. As such, a demand for professionals with a particular skill set is required who can understand the new technologies.

CFTE is to deliver courses that cover a range of areas in the finance industry. These include artificial intelligence, application programming interfaces (APIs), coding, blockchain, and RegTech. They will either be delivered online or via in-class training.

Some key players such as Citi, FinTech SuperCharger, Harvard Business School, Holberton School, Hong Kong University, HSBC, Imperial College London, Lloyds Banking Group and Ping An, have helped to contribute to the curriculum.

In April, it was reported that IBM had partnered with the National University of Singapore (NUS) to develop educational modules on blockchain technology. With the launch of IBM’s blockchain innovation center in Singapore in mid-2016, the nation has firmly established itself as a FinTech hub.

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