Singapore will soon see the establishment of a research institute that will develop deep capabilities to support the needs of digital financial services in Asia.
Expected to begin operations by the end of 2020, the Asian Institute of Digital Finance (AIDF) will provide thought leadership and strengthen synergies between education, research, and entrepreneurship in the thriving area of digital finance, a statement on Wednesday said.
The institute, which combines education, research, innovation, and business incubation, is a joint initiative of the Monetary Authority of Singapore (MAS), the National Research Foundation (NRF) and the National University of Singapore (NUS), where it will be hosted.
AIDF will be an important addition to Singapore’s rich and vibrant FinTech ecosystem. Through applied research and active collaboration with industry, AIDF will help to build strong capabilities in digital finance and fintech,» Ravi Menon, MAS managing director, said.
Led by led by NUS Business School professor Duan Jin-Chuan, AIDF will offer masters and doctoral programs in digital finance and fintech, as well as train post-doctoral fellows in these fields, building a pipeline for fintech leadership development in Singapore and the region.
A steering group comprising NUS deputy president and provost, Professor Ho Teck Hua, MAS chief fintech officer Sopnendu Mohanty and thought leaders from the financial and technology industries will provide guidance on curriculum design and align AIDF’s research direction with strategic priorities in Singapore and the region.
The steering group will also evaluate the impact of AIDF’s research and identify opportunities for collaboration and partnerships in Asia and beyond, the announcement said.
Potential areas of focus for research include digital assets and ledger technology, artificial intelligence and machine learning, digital finance platforms, green finance technology, and next-gen financial services on 5G networks.
The institute will also establish a Fincubator program to drive transformation of ideas and projects by promising students and entrepreneurs into market-ready products and services.