Monetary Authority of Singapore (MAS), the central bank of Singapore, has collaborated with the National Research Foundation (NRF) and the National University of Singapore (NUS) to open a research institute for supporting digital financial services in Asia.
The new Asian Institute of Digital Finance (AIDF) aims to deepen synergies between education, research and entrepreneurship in the digital finance space.
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It will be hosted at NUS and provide a Master’s programme and award scholarships to students to pursue research at the doctoral level.
Besides, it will train post-doctoral fellows in digital finance as well as fintech.
The AIDF faculty will combine expertise in payments, financial advisory & wealth management, retail & corporate banking, digital platforms, distributed technology, tokenisation, cloud computing, and AI, among others.
It will pursue research projects in areas such as fundamental digital infrastructure, performance optimisation of business processes, and advanced application development research on cyber, and AML issues.
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By GlobalDataMoreover, the institute will start a unique “Fincubator” programme to promote entrepreneurship.
The institute will be helmed by Duan Jin-Chuan, the Jardine Cycle & Carriage Professor of Finance at the NUS Business School.
NUS senior deputy president Ho Teck Hua and provost, MAS chief fintech officer Sopnendu Mohanty as well as thought leaders in the financial and technology space will form a steering group.
This group will offer guidance on curriculum design and align the institute’s research direction with Singapore’s strategic priorities.
The institute is expected to become operational by the end of this year.
NRF CEO Low Teck Seng said: “AIDF will help build strong FinTech research capabilities in Singapore, and commercialise high-impact research ideas to deliver practical and innovative solutions for the market.
“It will leverage on NUS’ regional and global networks involving local and foreign universities and research institutes to generate and testbed FinTech solutions for the Asian markets.”
