Singapore FinTech Association Launches Grants and Jobs Portal

July 21, 202011:44 am828 views

The Singapore FinTech Association (SFA) announced today the launch of a comprehensive Grants and Jobs Portal during a virtual launch event earlier today, witnessed by Ms Indranee Rajah, Minister in the Prime Minister’s Office, Second Minister for Finance and Education.

The portal currently has over 500 job postings and will enable job seekers to access the latest job vacancies, available grants, relevant training opportunities and latest news within the FinTech sector. SFA has also collaborated with organisations, including the Institutes of Higher Learning, to generate content to the portal. In addition, the Grants and Jobs portal will be highlighting various schemes available under the SGUnited Traineeship and Skills programmes.

Based on the latest report by Boston Consulting Group (BCG) announced on 19 June 2020, investments in Singapore-based FinTech firms spiked year-on-year to SGD $650 million, an increase of 19% in the first half of 2020. Amid the uncertainties and disruption from COVID-19, the FinTech sector in Singapore has shown resilience and is poised to bounce back quickly post-pandemic as financial institutions accelerate their digital transformation journey and as more customers adopt digital solutions.

Since the onset of COVID-19 and after a survey conducted with its members in March 2020, SFA has pivoted quickly and worked closely with key stakeholders within the sector to progressively introduce a range of timely and purposeful initiatives. These initiatives come in the form of monetary and non-monetary assistance to help FinTech companies retain jobs and facilitate business growth despite disruption to normal business activities.

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Some of the initiatives introduced since April include:

  1. SFA FinTech Certification – Benchmark qualification for FinTech certified companies to apply for grants from Monetary Authority of Singapore (MAS)
  2. MAS-SFA-AMTD FinTech Solidarity Grant ($6 million) – Provide monetary support to FinTech firms in two key areas; Business Sustenance and Business Growth.
  3. Industry Collaboration – Worked closely with market participants, Razer and AMTD to facilitate funding to FinTech firms
  4. Compliance Readiness Framework for FinTech Service Provider (FSP) –Promote a sustainable relationship between FinTech Service Providers and Financial Institutions.
  5. Informative webinar sessions – More than twenty events organised since April to provide information on grants, financing, business continuity and more.

As the above have shown, collaboration is key to the success of rolling out meaningful initiatives for the industry and would continue to be an important cornerstone for the continual development of the sector inSingapore and globally, further cementing Singapore’s position as a leading global FinTech hub.

More information on the Grants and Jobs Portal can be found at https://jobs.singaporefintech.org/index.php/job-seeker/

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Quotes

Ms Indranee Rajah, Minister in the Prime Minister’s Office, Second Minister for Finance and Education, said, “Despite current challenges, FinTech has an essential role in ensuring digital acceleration for stakeholders both in and beyond the financial industry. We should not miss this once-in-a-generation chance to transform, so that Singapore businesses can emerge stronger in the post-COVID-19 world, and remain viable for years to come.”

Mr Patrick Tay, Assistant Secretary-General of NTUC and Executive Secretary of Banking and Financial Services Union (BFSU) stated that, “As we deal with the next normal, technology will be key to helping companies and workers adjust to the new ways of life. This new portal will help both employers and job seekers find potential talents or career opportunities, and access up-to-date information on training and grants in just a few clicks. A timely initiative by SFA for our workforce especially during this technical recession.”

Mr. Chia Hock Lai, President, SFA, said, “COVID-19 has been nothing short of devastating to all markets and sectors. While FinTech companies are experiencing significant challenges arising from the pandemic, it is heartening to see the FinTech ecosystem standing by FinTech companies in solidarity, to protect jobs and develop the sector. SFA remains committed to our members, to direct them to the right grants and hires with the launch of the Grants and Jobs Portal.”

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