The National University of Singapore (NUS), in partnership with the Monetary Authority of Singapore and the National Research Foundation, will establish a new fintech research institute by the end of this year. The “Asian Institute of Digital Finance” (AIDF) aims to integrate education, research, and entrepreneurship in the digital finance and fintech sectors, NUS announced on Tuesday.
Headed by professor Duan Jin-Chuan from the NUS Business School, the AIDF intends to “groom the next generation of fintech leaders” in Singapore and the region. It will offer a master’s program and train PhDs with a background in digital finance. Research areas include AI, green finance, and 5G.
“AIDF is the first of its kind in Singapore and region,” a NUS spokesperson told KrASIA. “Other existing fintech programs that NUS has either launched or collaborated on do not take such a unique approach.”
The institute will launch a “Fincubator” program for students and aspiring entrepreneurs and provide support to create market-ready products. It is collaborating with industry mentors and investors in order to commercialize fintech research.
As one of Asia’s top financial hubs, Singapore has made concerted efforts to expand its financial industry, especially in the burgeoning fintech sector.
NUS, for instance, is offering a two-month FinTechSG program and is partnering with the Singapore Management University (SMU), Xiaomi Finance, and AMTD Group in the AXSI Digital Finance Leadership Program. In April, MAS launched a SGD 125 million (USD 91 million) support package, which includes course subsidies for local employees of up to 90%.