The Monetary Authority of Singapore (MAS) and United Kingdom’s Financial Conduct Authority (FCA) have announced a strategic partnership to advance artificial intelligence (AI) in finance between Singapore and the United Kingdom. Revealed at the Singapore FinTech Festival, the UK-Singapore AI-in-Finance Partnership is set to promote safe and responsible AI innovation, allowing AI solution providers in both countries to scale their operations effectively across these key financial markets.
The collaboration will focus on joint testing of AI solutions, sharing regulatory insights, and hosting events to highlight best practices in AI. This initiative builds on existing programmes, MAS PathFin.ai and FCA AI Spotlight, to enhance AI collaboration between the two financial centres. Kenneth Gay, Chief FinTech Officer at MAS, emphasised the importance of this partnership, stating, “This new UK-Singapore AI-in-Finance Partnership with the Financial Conduct Authority creates an important bridge for our financial institutions, innovators and regulators to collaborate on trustworthy AI.”
Jessica Rusu, Chief Data, Information and Intelligence Officer at the FCA, highlighted the global influence of the partnership, noting that it will enable UK and Singapore firms to explore new cross-border opportunities and shape the future of responsible AI innovation in finance.
AI innovators from the UK and Singapore are encouraged to participate in future FCA-MAS AI Spotlight and PathFin.ai events by applying through the respective programmes. This partnership is poised to set global benchmarks for responsible AI use in the financial sector, strengthening connectivity between the UK and Singapore’s financial ecosystems.
