Singapore, October 30, 2024 – The Monetary Authority of Singapore (MAS) announced the establishment of the Global Finance & Technology Network (GFTN) to enhance global connectivity for impactful innovation in financial services. Ravi Menon has been appointed as Chairman of the Board of Directors of GFTN, alongside Deputy Chairmen Leong Sing Chiong and Neil Parekh.
Sopnendu Mohanty, currently Chief FinTech Officer at MAS, will be appointed Group Chief Executive Officer of GFTN from February 1, 2025 onwards. The organization aims to strengthen Singapore’s position as a global FinTech hub, building upon the success of the Singapore FinTech Festival.
GFTN will focus on four strategic businesses: GFTN Forums, GFTN Advisory, GFTN Platforms, and GFTN Capital. The Board of Directors will be guided by an International Advisory Board comprising globally recognized leaders committed to the public interest.
Ravi Menon expressed the vision for GFTN to drive greater synergies within the global finance and technology communities, creating positive economic value and social impact. Sopnendu Mohanty highlighted the organization’s focus on convening forums, offering advisory services, providing access to digital platforms, and investing in startups with growth potential and positive social impact.
Established by MAS in 2024, GFTN aims to harness technology and foster innovation for more efficient, resilient, and inclusive financial ecosystems. The organization is set to announce further details at the Singapore FinTech Festival on November 6, 2024.
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