The Monetary Authority of Singapore (MAS) and the Financial Conduct Authority (FCA) in the United Kingdom have announced a new strategic partnership focused on Artificial Intelligence (AI) in finance. This collaboration aims to promote the safe and responsible use of AI technologies across the financial sectors of both countries.
According to MAS, the partnership will help AI solution providers in Singapore and the UK to expand and operate more efficiently across both markets. It will also create more opportunities for financial institutions to innovate, learn from each other and adopt advanced AI systems.
Initially, the two regulators will work together to test AI solutions, exchange regulatory insights and discuss ways to ensure responsible AI development. They also plan to organize joint events that showcase leading AI applications and industry best practices.
The partnership builds on existing programs — MAS’s PathFin.ai and FCA’s AI Spotlight — which aim to strengthen collaboration between the two financial centers. Through these programs, participating firms will be able to share high-quality AI solutions and support innovation in finance on a global scale.
“AI is redefining the future of finance — moving from experiments to enterprise use, and from individual models to connected, agentic systems,
“As this shift accelerates, MAS’ priority is to ensure that adoption is both safe and scalable,” said Kenneth Gay, Chief FinTech Officer at MAS.
He said that the new UK-Singapore AI-in-Finance Partnership with the Financial Conduct Authority (FCA) will serve as an important bridge between both countries’ financial institutions, innovators, and regulators.
The collaboration will help them work together on building trustworthy AI by sharing knowledge, testing new approaches, and improving workforce readiness in the financial sector.
“Together, we can strengthen the connectivity between our ecosystems and set global benchmarks for responsible AI use in finance,” he added.
Jessica Rusu, Chief Data, Information and Intelligence Officer at the FCA, said their partnership with the MAS will help raise our global influence in a strategically competitive space.
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