“This MOU kick-starts an enriching partnership with the polytechnics to nurture a pool of skilled manpower for the flourishing FinTech community – a critical success factor for FinTech development in Singapore.”
The five local polytechnics and Singapore FinTech Association (SFA) have inked a Memorandum of Understanding (MOU) to deepen collaboration between educators and the FinTech industry on 1 Feb 2017. This supports the PolyFinTech 100 initiative, launched last October to develop a strong talent pool trained in financial technology to aid Singapore in becoming a Smart Financial Centre.
This is the first MOU that SFA has inked with the polytechnics – Nanyang Polytechnic, Ngee Ann Polytechnic, Republic Polytechnic, Singapore Polytechnic and Temasek Polytechnic. The MOU underscores SFA’s commitment to enhance the FinTech eco-system through active and continuous engagement of polytechnic students.
According to a survey conducted in 2015, employers estimated that there would be 5,100 vacancies for roles within network and infrastructure in the next three years (2016-2018), with a further 5,700 jobs in data analytics and cyber security. This collaboration prepares polytechnic graduates to meet these demands. Additionally, the involvement of start-ups, financial institutions and regulatory bodies will ensure that the programmes developed are relevant to industry needs.
Plans for 2017 include:
On FinTech’s burgeoning role in Singapore, SFA’s President Mr. Chia Hock Lai, said: “This MOU kick-starts an enriching partnership with the polytechnics to nurture a pool of skilled manpower for the flourishing FinTech community – a critical success factor for FinTech development in Singapore.”
Mr. Clarence Ti, Principal of Ngee Ann Polytechnic, the SkillsFuture Sector Coordinator for Accountancy and Financial Services, added: “Following the PolyFinTech 100 launch during the last quarter of 2016, we have gathered good momentum and achieved our target of securing 100 internships within two months. We are excited that this timely partnership with SFA will help open up more opportunities for polytechnic students to keep abreast of the FinTech sector’s evolving needs, fuel their passion for the sector and upgrade their skillsets to meet industry demands.”
We release new articles daily on trending topics within technology and the public sector. Subscribe to have weekly digests of our articles conveniently sent to your email address.
Mövenpick Hotel and Convention Centre KLIA
One Farrer Hotel
Sheraton Towers Singapore
Putrajaya Marriott Hotel
Marina Bay Sands, Singapore
JW Marriott Jakarta