Singapore polytechnics prep for future fintech opportunities
The Monetary Authority of Singapore (MAS) and five local polytechnics have teamed up to get students up to speed for fintech jobs of the future.
They have agreed to work on a framework to review and improve the polytechnics’ curricula in the next three years to prepare and equip their graduates with the skill sets necessary to take on new fintech-related jobs emerging in the financial sector. The five polytechnics are Nanyang Polytechnic, Ngee Ann Polytechnic, Republic Polytechnic, Singapore Polytechnic and Temasek Polytechnic.
Clarence Ti, principal of Ngee Ann Polytechnic, which is the SkillsFuture sector co-ordinator for accountancy and financial services, says: “In 2017, we are going to start 100 fintech internships and build a pool of 100 fintech mentors. A new microsite www.polyfintech100.sg will allow companies to register their interest to provide internship or mentorship.”
A memorandum of understanding has been signed and covers the following areas:
- Curriculum reviews. MAS will work with the polytechnics to shape the curriculum;
- Internships. MAS will help introductions for final year polytechnic students who wish to explore internship opportunities, such as start-ups, financial institutions and regulatory bodies. MAS will also recommend mentors from various industry practitioners, including venture capitalists and incubators, to the students;
- Joint projects. MAS will help introductions between final year students and potential partners for final year projects. This will let students apply their technical skills to areas such as mobile applications development, user interface/user experience, cloud application development, data analytics, API development and cybersecurity.
Respect my Authority
MAS has been busy recently.
It teamed with the Swiss Financial Market Supervisory Authority (FINMA) to foster more fintech co-operation; opened a purpose-built fintech innovation lab – known as Looking Glass @ MAS; and released a consultation paper on proposed changes to the payments regulatory framework and establishment of a National Payments Council.