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Singapore FinTech Report 2025: Key Summary

A Report by CYS Global Remit FinTech Development Unit


The Singapore FinTech ecosystem, comprising over 1,800 FinTech firms, has matured into a global innovation powerhouse. The key message from regulatory bodies like the Monetary Authority of Singapore (MAS) in 2025 is clear: the focus is now on deepening capabilities in technology — particularly AI — whilst relentlessly pursuing operational resilience and consumer protection.


1. The Technology Mandate: AI and Tokenisation

The next wave of growth is entirely dependent on integrating frontier technologies safely and responsibly.


Responsible AI Integration

AI is not a peripheral tool; it is mission-critical for enhancing efficiency in areas like fraud detection, credit underwriting, and back-office automation. MAS's guidance emphasises the need for robust AI Governance. Teams must ensure their AI models are transparent, fair, and accountable to build public trust.


The focus includes managing risks associated with "agentic AI", where systems operate with greater autonomy, requiring higher guardrails and stronger supervisory oversight. As AI takes on more complex decision-making roles, firms must demonstrate they have the proper controls in place to manage these advanced capabilities responsibly.


Web3 Regulatory Clarity

The ecosystem continues to support Digital Assets, with the MAS introducing the Single-Currency Stablecoin (SCS) Framework. This ensures that regulated stablecoins are:


  • Backed by low-risk reserves 

  • Subject to capital requirements (at least S$1 million) 

  • Guaranteed redemption at par within five business days


These measures establish confidence for mainstream use in payments and trading, providing the regulatory clarity that both businesses and consumers need to engage with digital assets safely.


2. Regulatory and Operational Discipline 

Policy in 2025 prioritises safeguarding customers and ensuring the financial sector's integrity, which mandates immediate operational changes for FinTechs.


Enhanced Anti-Scam Measures

In response to a rise in digital scams, the MAS has strengthened safeguards for electronic payments. These measures require FinTechs to implement changes such as:


  • A 12-hour cool-off period for new device logins 

  • Stricter default transaction limits (e.g., S$1,000 for Major Payment Institutions) 

  • Joint efforts by MAS, the Singapore Police Force (SPF), and other agencies to implement restrictions on individuals identified as scam mules, disrupting criminal operations at the source


Strict AML/CFT Enforcement

Enforcement has been sharpened considerably. MAS has levied significant penalties — including S$27.45 million in composition penalties against nine Financial Institutions — for breaches of Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT)requirements. This underscores the demand for better RegTech solutions and places greater emphasis on individual accountability amongst senior management.


The Regulatory Sandbox as a Bridge

MAS continues to utilise its FinTech Regulatory Sandbox to facilitate innovation, offering a structured environment for testing new technologies. The framework provides a faster path from experimentation to market, provided the long-term scalability and user protection plans are rigorous.


3. Ecosystem Maturity and Talent

The ecosystem's maturity is reflected in its operational goals and talent strategy.


Strategic Growth

The ecosystem is pivoting away from "growth at all costs" to a sustainable scale, requiring stronger risk management and governance practices. This shift represents a maturation of the industry — moving from rapid expansion to building lasting, responsible businesses that can withstand market pressures and regulatory scrutiny.


Talent Development

Recognising the growing need for specialised skills, MAS, in partnership with the industry, is actively working on upskilling the workforce to be AI-ready. This includes:


  • Anchoring advanced AI competency centres in Singapore to serve global operations 

  • Equipping employees with the literacy and skills needed to use AI productively and safely 

  • Building a workforce capable of managing the sophisticated technologies that will define the next generation of financial services


The developments in 2025 confirm Singapore's dedication to being a leading financial centre by balancing technological innovation with world-class regulatory oversight. For established players like CYS Global Remit, this environment presents both opportunity and responsibility.


Given this landscape, CYS Global Remit's established deep expertise and regulatory licence must now serve as the foundation for a strategic evolution, requiring the company to proactively strengthen its operational resilience and governance frameworks. This transformation is essential for future operational excellence, ensuring the company can deliver fast, secure, and fully compliant cross-border payment solutions built on trust and stability.


References 

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