Singapore, October 30, 2024: The Monetary Authority of Singapore (MAS) has announced the establishment of the Global Finance & Technology Network (GFTN) with the aim of fostering innovation and technology partnerships for more efficient, resilient, and inclusive financial ecosystems. Ravi Menon has been appointed as the Chairman of the Board of Directors of GFTN, while Leong Sing Chiong and Neil Parekh have been appointed as Deputy Chairmen. Sopnendu Mohanty will serve as the Group Chief Executive Officer of GFTN starting from February 1, 2025.
GFTN will focus on enhancing global connectivity for impactful innovation in financial services and strengthen Singapore’s position as a global FinTech hub. The organization will consist of four strategic businesses that include forums, advisory services, digital platforms, and an investment fund for technology start-ups. GFTN’s Board of Directors will be guided by an International Advisory Board comprising globally recognized leaders with a commitment to the public interest.
Mr. Menon stated that GFTN will drive synergies within the global finance and technology communities to create innovations in financial services that generate economic value and social impact. Mr. Mohanty emphasized that GFTN is strategically positioned to address the evolving requirements of the global FinTech ecosystem through its various initiatives.
The Global Finance & Technology Network (GFTN) is a not-for-profit organization founded by MAS to leverage technology and foster innovation for more efficient and inclusive financial ecosystems through global partnerships. GFTN will showcase its Board of Directors and International Advisory Board at the Singapore FinTech Festival on November 6, 2024.
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