Singapore fintech changes up a gear


On 1 December 2016, the Monetary Authority of Singapore (MAS), together with the Financial Services Sharing and Analysis Centre (FS-ISAC) jointly announced that they will be working together to establish an APAC Regional Intelligence and Analysis Centre to promote sharing and analysis of cybersecurity information within the financial services sector on a regional basis. The APAC Regional Intelligence and Analysis Centre is to be based in Singapore and expected to be operational in the first half of this year.

This comes shortly after the opening speech by Ravi Menon, managing director of the MAS, at the inaugural Singapore fintech festival last November, in which he announced the collaboration between the FS-ISAC and the MAS to start the centre as a part of Singapore’s fintech agenda to strengthen cybersecurity. He also said that this collaboration would serve to deepen the capabilities of the local cybersecurity community, as well as help the financial industry to better monitor cyber threats and provide intelligence support.

In addition to strengthening cyber-security capability, Menon said that a part of the fintech agenda was to facilitate the infrastructure for an innovation ecosystem. Recent initiatives are:

  • Establishing physical spaces for collaboration and experimentation, such as LATTICE80, Singapore’s first fintech innovation village for fintech start-ups to work, connect and co-create with the financial industry and venture capital investors;

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Business Law Digest is compiled with the assistance of BAKER MCKENZIE. Readers should not act on this information without seeking professional legal advice. You can contact Baker & McKenzie by e-mailing Danian Zhang at, or for general enquiries contact Anand Ramaswamy at

Additional copy regarding new treaties with India was compiled by Nishith Desai Associates (NDA), a research-based international law firm with offices in Mumbai, New Delhi, Bangalore, Singapore, Silicon Valley and Munich.