Monash University, Monash University Malaysia and the Global Finance & Technology Network (GFTN) have signed a memorandum of understanding covering financial technology education, research translation and entrepreneurship.
GFTN is a not-for-profit organisation that connects financial, government and technology leaders to advance more efficient, resilient and inclusive financial systems, drawing on its leadership's experience helping establish Singapore as a global fintech hub. It co-organises the Singapore FinTech Festival, a major global forum for finance, policy and technology. Its education partnerships include work with the National University of Singapore and a government-funded program that trained and accredited more than 7000 people in Odisha, India.
Professor Sharon Pickering, Vice-Chancellor and President of Monash University, welcomed the opportunity to team up with GFTN.
"Over some decades now, Monash University has deliberately built itself as an international university, but specifically a university of the Indo-Pacific. We are now anchored in the region as a long term partner, innovator and enabler," Professor Pickering said.
"We welcome the opportunity to work with the Global Finance & Technology Network to lead and shape sustainable finance and technology practices for the benefit of our communities."
Mr Sopnendu Mohanty, Group CEO of GFTN, said he was excited about the benefits of partnering with Monash.
"Our partnership with Monash University and Monash University Malaysia brings together GFTN's international financial services network with Monash's strengths in fintech education, research and entrepreneurship," Mr Mohanty said.
"This represents an exciting opportunity to build talent and connect promising ideas with a dynamic and evolving sector."
Education is a central part of the agreement, which covers collaboration on building capability, education and curriculum development in financial technology, and emerging technologies. Monash University Malaysia will contribute its financial technology expertise, including through its Fintech Impact Lab, which brings researchers, students and industry together through applied research, education and industry engagement.
Professor Adeeba Kamarulzaman, Pro Vice-Chancellor and President of Monash University Malaysia, said the University's existing integration with professional networks was a critical factor in establishing the agreement.
"This partnership gives us a way to bring that expertise into financial technology education and build the capability of students, helping prepare future professionals and support the digital evolution of financial institutions."
The MoU provides for collaboration on research translation and market validation, including proof-of-concept activities and pilot deployments. It also sets out opportunities to connect Monash researchers, entrepreneurs, startups and accelerator participants with GFTN's network of financial institutions, regulators and industry partners.
The Monash AI Hackcelerator is a pre-incubator program for AI-focused 'scientist entrepreneurs' that helps teams develop innovations and explore their potential as startups. At the Singapore FinTech Festival from 18-20 November, Hackcelerator teams will present their solutions on the Catalyst Stage alongside Monash AI research, including work on anti-money laundering in cryptocurrencies led by Professor Joseph Liu, Co-Director of Monash University's Fintech Lab. Hackcelerator participants will also have the opportunity to meet venture capital teams through GFTN's Investor Hours program.
Professor Shonali Krishnaswamy, Academic Director, AI Innovation at Monash, said Monash's participation in the festival was important for students.
"For our Hackcelerator teams, presenting at the Singapore FinTech Festival and meeting venture capital teams through Investor Hours puts their work in direct conversation with the sector. They can test their thinking, hear what industry and investors are looking for and use that feedback to shape their next steps," Professor Krishnaswamy said.
By linking Monash's financial technology education with opportunities for researchers and innovators to engage with industry, Monash, GFTN and Monash Malaysia will help build digital finance skills and advance promising ideas.
