The Monetary Authority of Singapore and The Association of Banks in Singapore have named the winners of the inaugural Fintech Awards.

Awards recognising the best in innovation and technology development have been handed out by the Monetary Authority of Singapore (MAS) at the Fintech Awards, part of the 2016 Singapore Fintech Festival.

Ten awards were presented to different fintech companies, with a prize pool of more than SG$1.15M.

MAS chief executive, Sopnendu Mohanty, said that the awards would bring greater attention on the burgeoning industry and were representative of a high standard of development.

“The MAS Fintech Awards celebrate the spirit of innovation and creativity within Singapore’s financial sector,” he said.

“We were impressed by the technical quality and breadth of the solutions, many of which span multiple business areas.

“We look forward to seeing how these solutions can redefine and improve the way we experience financial services.”

The first place awardees were: