SINGAPORE, Aug. 24 (Xinhua) -- Monetary Authority of Singapore (MAS) announced on Wednesday to open its FinTech innovation lab.
The purpose-built facility, known as Looking Glass @ MAS, is located within the MAS Building.
Looking Glass @ MAS will allow the authority to experiment FinTech solutions with financial institutions, start-ups, and technology vendors, said MAS.
It can also serve the purposes of facilitating consultations for start-ups by industry experts on areas of interest such as legal, regulation, and business-related matters; as well as providing a venue for relevant training sessions and networking activities for the FinTech community.
Sopnendu Mohanty, Chief FinTech Officer of MAS, said that the authority has been encouraging financial institutions to anchor their innovation labs in Singapore.
"We are pleased to open our own FinTech Innovation Lab, underscoring MAS' commitment to promoting a culture of innovation in the financial sector. Looking Glass @ MAS will serve as a platform for the FinTech community to connect, collaborate, and co-create with one another," added Sopnendu Mohanty.
