FSTI 4.0, the Financial Sector Technology and Innovation Scheme, is the Monetary Authority of Singapore’s (MAS) main grant for fintech and AI projects in financial services. MAS has committed up to S$220 million over three years across six tracks. Singapore-based financial institutions and fintechs can get up to 50% of qualifying costs (capped at S$1 million) for frontier-technology projects, industry platforms can get up to 70%, FIs adopting listed AI solutions can get 50% up to S$200,000, and fintechs hiring interns can get 80% of the stipend, capped at S$1,000 a month.
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What is FSTI 4.0?
FSTI 4.0 is the fourth version of MAS’s long-running Financial Sector Technology and Innovation Scheme. MAS published the current scheme page on 31 August 2026. Its stated aims are to anchor firms and scale innovation in Singapore, speed up the development and deployment of financial technology with a focus on frontier technologies, build shared infrastructure, and develop and attract talent.
The scheme is not a single grant. It is six separate tracks, each with its own applicants, rates and process. Picking the right track is the first decision.
Which FSTI track fits your project?
| Track | Who it is for | Headline support (per MAS) |
|---|---|---|
| Institution Project | Singapore-based FIs and fintechs building proprietary solutions in AI, distributed ledger technology or quantum technology | Up to 50% of qualifying expenses, maximum S$1 million, up to 24 months |
| AI Pathfinder | Singapore-based FIs onboarded on PathFin.ai, adopting AI solutions listed on the PathFin.ai registry | 50% of expenses, capped at S$200,000 per project (Singapore-based AI fintech) or S$100,000 (non-Singapore-based), 6-month funding period |
| Centre of Excellence | FIs, fintech scale-ups and global tech firms with a strong financial services nexus setting up or expanding an innovation centre in Singapore | Manpower up to 50% for Singapore Citizens and up to 25% for non-citizens (including PRs) for 24 months; non-manpower up to 50% |
| Infrastructure and Platform | Singapore-based FIs, associations, industry consortiums and non-FI solution providers building industry-wide infrastructure | Up to 70% of qualifying expenses, up to 24 months |
| Manpower | Fintech firms onboarded on the Singapore FinTech Association internship portal | 80% of the monthly intern stipend, capped at S$1,000 per month for up to 12 months, up to 10 interns per firm per year |
| Global FinTech Hackcelerator Scale-up Grant | Finalists of the Global FinTech Hackcelerator | Follow-on funding of up to S$500,000 |
Who is eligible for the Institution Project track?
The Institution Project track is the one most FIs and fintechs ask about, because it funds a company’s own build. MAS’s conditions are:
- The applicant is a Singapore-based FI or fintech.
- The project aligns with at least one of the three focus areas: artificial intelligence, distributed ledger technology or quantum technology.
- The project shows significant business impact, technical feasibility and innovativeness.
- Routine digitalisation, such as implementing an off-the-shelf solution, and projects that mainly improve process efficiency are not eligible.
- If the project may disrupt existing jobs, the applicant gives a preliminary assessment of the nature and scale of that disruption.
- Each applicant can make at most two applications under this track over the scheme period.
Qualifying expenses are manpower (base salaries), professional services, hardware and software infrastructure, subscriptions and licences, intellectual property rights, and the external auditor’s certification.
A company that only wants to buy a proven AI tool should look at AI Pathfinder instead, and a company buying standard software may be better served by Enterprise Singapore’s EDGE grant for digital solutions, described in our guide to EDGE support for digital solutions and equipment.
How does AI Pathfinder work?
AI Pathfinder is new in FSTI 4.0 and aims to move AI adoption across the financial sector. It co-funds FIs to deploy market-tested AI solutions, and only solutions on the PathFin.ai registry qualify.
- The FI onboards as a participating organisation on PathFin.ai.
- It selects a listed solution and agrees scope with the AI fintech, obtaining a signed quotation and project proposal.
- It submits an Expression of Interest to MAS ([email protected] or through PathFin.ai) before the intended project start date, including a workforce impact assessment where relevant.
- The solution must be successfully deployed within the 6-month funding period.
Qualifying expenses are consultancy, software infrastructure and the external auditor’s certification. The cap is higher when the AI fintech is Singapore-based (S$200,000) than when it is not (S$100,000), and each FI may make only one application under this track.
What does the Centre of Excellence track require?
This track is aimed at bringing or deepening innovation and R&D teams in Singapore. MAS expects:
- a senior leader (for example a head of technology, innovation or ventures) who can anchor a senior internal sponsor in Singapore
- at least two senior professionals in the team, excluding general administrative and IT staff such as programmers
- a focus on emerging technologies such as AI, distributed ledger technology and quantum, with solutions that can scale beyond a minimum viable product
- a credible plan to sustain the centre after the funding period
Office rental can be funded only for non-FI centres without an existing Singapore presence. FI-run centres cannot claim rental even without a Singapore presence. Applications go in at least three months before the project start date. Firms setting up a new Singapore entity for this purpose usually also need to settle MAS licensing questions; our overview of the MAS Capital Markets Services licence is a starting point for capital markets activities.
How do you apply?
- Choose the track. Match your project and your organisation type to the table above.
- Talk to MAS first. For the Institution Project, Centre of Excellence and Infrastructure and Platform tracks, MAS asks applicants to contact [email protected] to discuss the project.
- Apply before you start. MAS asks for applications before the intended start date, and at least three months before for the Centre of Excellence track.
- Prepare a budget by expense category that matches the qualifying expenses for the track, and plan for an external auditor’s certification of costs.
- Use the right portal for internships. Manpower track applications are made through the Singapore FinTech Association internship portal, and support is paid after the internship period is completed.
Documents checklist
- Project proposal: problem, technology, milestones, business impact and why it is innovative
- Budget broken down by qualifying expense category and month
- Quotations and statements of work from vendors and consultants
- Manpower plan with roles, salaries and nationality mix (relevant to Centre of Excellence rates)
- Preliminary workforce impact assessment, if jobs may be affected
- Corporate documents: business profile, licence or regulatory status, latest financial statements
- For AI Pathfinder: PathFin.ai onboarding confirmation, signed quotation and project proposal
Example: a payments fintech building an AI fraud model
Example (hypothetical): A Singapore-incorporated payments company plans an 18-month project to build its own machine-learning fraud detection model. The budget is S$1.6 million: S$1.0 million of engineer salaries, S$350,000 of cloud infrastructure and licences, S$220,000 of specialist data science consultancy and S$30,000 for the auditor’s certification. Under the Institution Project track, 50% of S$1.6 million is S$800,000, which is within the S$1 million maximum. The company discusses the project with MAS before hiring the consultants, because a project that has already started is harder to support. If instead it only wanted to deploy a ready-made fraud tool from the PathFin.ai registry, AI Pathfinder would apply, with a cap of S$200,000 for a Singapore-based vendor.
Common reasons applications fail
- Routine digitalisation: buying or configuring standard software is excluded from the Institution Project track.
- Wrong technology focus: Institution Project and Centre of Excellence projects need to sit in the frontier areas MAS names.
- No workforce assessment when the project affects existing roles.
- Applying after starting: MAS asks for applications before the project starts.
- Solution not on PathFin.ai: AI Pathfinder funds only registry-listed solutions.
- Team too thin: a Centre of Excellence needs at least two senior professionals and senior sponsorship in Singapore.
FSTI is one of several Financial Sector Development Fund schemes. Our guide to the Financial Sector Development Fund gives the wider picture, our note on fintech in Singapore covers the basics, and training costs for financial sector staff may be supported under the IBF Financial Training Scheme. For support outside the financial sector, see our directory of Singapore government grants for companies.
Frequently asked questions
Can a fintech that is not licensed by MAS apply?
Yes, for several tracks. The Institution Project track is open to Singapore-based FIs and fintechs, and the Infrastructure and Platform track is open to non-FI solution providers. AI Pathfinder, however, is for FIs.
How much is FSTI 4.0 worth in total?
MAS has committed up to S$220 million over three years.
Can we claim salaries?
Base salaries are qualifying expenses under the Institution Project and Infrastructure and Platform tracks. The Centre of Excellence track funds qualifying roles at up to 50% for Singapore Citizens and up to 25% for others, for 24 months.
Is there an application deadline?
MAS has not published fixed deadlines for these tracks. It asks for applications before the project start date, and at least three months before for the Centre of Excellence track.
How many times can we apply?
Up to two applications per applicant under the Institution Project track over the scheme period, and one application per FI under AI Pathfinder.
Where are the official rules?
On the MAS FSTI 4.0 page and its track pages, including the Institution Project, AI Pathfinder and Centre of Excellence tracks.
Information checked against official sources on 6 November 2026.
Free grant consultation: is FSTI right for your company?
Raffles Corporate Services has in-house certified grant consultants who are experienced with Singapore grant applications and the full grant process, from checking eligibility and preparing the proposal and supporting documents to submitting claims and meeting the conditions after approval. We can arrange a free consultation to review your company and identify which grants, including FSTI, may be applicable.
Email [email protected] or WhatsApp +65 8501 7133 to book a time. MAS decides every application, and no consultant can guarantee approval.
The Editorial Team, Raffles Corporate Services