The Monetary Authority of Singapore unveiled a raft of new initiatives to further the city’s push into financial technology, including a project to improve banks’ ability to detect money launderers and others on blacklists, and a tie-up with the Canadian central bank on cross-border payments.
MAS Managing Director Ravi Menon announced the measures in a speech on Tuesday at the Singapore FinTech Festival, a glitzy networking event that links banking executives with startups. More than 25,000 participants are expected to attend, up from over 13,000 at last year’s inaugural conference, according to a statement released by the MAS and its event partners.
