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The financial sector of Singapore will receive a boost to its technology and innovation efforts with support from a renewed scheme that will inject up to S$150mil (US$111mil) in grants for projects.

The Monetary Authority of Singapore has announced plans to provide up to S$150 million over the next three years to develop cutting-edge technologies in the financial sector.

The MAS scheme is aimed at strengthening innovation that involves the use of cutting-edge technologies. Read more at straitstimes.com.

The Monetary Authority of Singapore also highlighted that the new scheme will continue to support the adoption of artificial intelligence and data analytics.

The Monetary Authority of Singapore (MAS) has pledged to invest up to S$150 million over the next three years to bolster technology and innovation within the financial sector.