--- title: In Conversation with Chia Der Jiun, Managing Director, Monetary Authority of Singapore description: Join Mr. Chia as he explores key trends in finance, from AI and payments to sustainability and fraud prevention. Discover the future of the financial sector! image: https://39936595.hs-sites.com/hubfs/Imported_Blog_Media/In%20conversation%20with%20Mr_%20Chia%20Der%20Jiun%2c%20Managing%20Director%2c%20Monetary%20Authority%20of%20Singapore-1200x720-fs.png --- ![](https://39936595.hs-sites.com/hubfs/Imported_Blog_Media/In%20conversation%20with%20Mr_%20Chia%20Der%20Jiun%2c%20Managing%20Director%2c%20Monetary%20Authority%20of%20Singapore-1200x720-fs.png) # In Conversation with Chia Der Jiun, Managing Director, Monetary Authority of Singapore [ GFTN ](https://39936595.hs-sites.com/sff-2024-session-recordings-payments/author/gftn) Nov 20, 2024 12:00:00 AM   Insights from Chia Der Jiun's address at the Singapore FinTech Festival:   **1. Strategic Vision Anchored in Collaboration** **Community Focus:** MAS is committed to strengthening the fintech ecosystem through global partnerships and events like the SFF, emphasising the power of community-driven growth. **From Experimentation to Scale:** The shift from individual projects to industry-wide collaborations demonstrates MAS’s strategic intent to scale innovation effectively, particularly in areas like digital assets and sustainability.   **2. Pioneering Payments Infrastructure** **Domestic Payments: **Singapore’s payment ecosystem is highly advanced, with nearly universal adoption of QR codes. The next frontier is achieving full interoperability across payment schemes. **Cross-Border Ambitions:** Project Nexus is a major initiative aimed at revolutionising international payments. By centralising standards and linkages, it promises to drastically reduce transaction times and costs, positioning Singapore as a key global payments hub.   **3. Asset Tokenisation as a Game Changer** **Efficiency & Cost Reduction:** MAS recognises the potential of tokenised financial assets to cut intermediation, costs, and transaction times. The focus is on creating robust frameworks and infrastructure for widespread adoption. **Collaborative Pilots:** Initiatives like Project Guardian are essential for exploring real-world applications and overcoming challenges in tokenising various asset classes, from fixed income to funds.   **4. Leading in AI Governance** **Generative AI Risks:** MAS is taking a measured approach, ensuring that both the financial sector and the regulator evolve together. Identifying risks like explainability, security, and data integrity are crucial first steps. **Project MindForge:** Establishing industry consortia to co-create governance practices shows MAS’s commitment to responsible AI adoption, making Singapore a thought leader in this space.   **5. Sustainability as a Core Pillar** **Policy Commitment:** MAS is actively driving sustainable finance with carbon taxes and climate disclosure regulations. This underlines Singapore’s ambition to lead Asia in green finance. **Bridging Data Gaps:** Recognising challenges in gathering climate-related data, MAS is developing initiatives like Logic Greenprint to simplify and automate this process, ensuring even small businesses can contribute to the sustainability effort.   **6. Forward-Looking Approach to Quantum Technology** **Early Preparation:** MAS is already preparing for quantum computing’s future impact, particularly on security. The proactive focus on quantum encryption highlights the foresight needed to mitigate emerging risks. **Potential Use Cases:** Though still in the lab stage, quantum computing’s potential to revolutionise problem-solving across financial sectors is being taken seriously, ensuring Singapore stays ahead of global trends.   **Key Takeaways:** - **Strategic Collaboration:** MAS’s approach of involving industry players in problem-solving ensures that financial innovations are practical and impactful. - **Global Leadership in Finance:** From payments to tokenisation and AI governance, Singapore is positioning itself as a global leader in financial technology and innovation. - **Sustainability Focus:** There is a clear recognition that sustainable finance is not just a trend but a necessity, with long-term investments in both policy and infrastructure. - **Future-Proofing:** Whether it’s AI or quantum technology, MAS’s proactive strategies reflect a forward-thinking approach that balances innovation with regulation. These insights highlight the comprehensive and strategic efforts of MAS to future-proof Singapore’s financial sector, ensuring it remains resilient, inclusive, and globally competitive.    Watch Full Session   Speaker: - Chia Der Jiun, Managing Director, Monetary Authority of Singapore Moderator: - Manisha Tank, Broadcaster & TV Presenter     [Regulation & Compliance](https://39936595.hs-sites.com/sff-2024-session-recordings-payments/tag/regulation-compliance), [Payments](https://39936595.hs-sites.com/sff-2024-session-recordings-payments/tag/payments), [Digital Assets & Blockchain](https://39936595.hs-sites.com/sff-2024-session-recordings-payments/tag/digital-assets-blockchain), [Policy](https://39936595.hs-sites.com/sff-2024-session-recordings-payments/tag/policy), [Singapore FinTech Festival](https://39936595.hs-sites.com/sff-2024-session-recordings-payments/tag/singapore-fintech-festival), [Video](https://39936595.hs-sites.com/sff-2024-session-recordings-payments/tag/video) ## Read On [![](https://39936595.hs-sites.com/hs-fs/hubfs/Imported_Blog_Media/From%20tradition%20to%20innovation%20Transition%20of%20the%20financial%20industry-1200x720-fs.png?width=352&name=From%20tradition%20to%20innovation%20Transition%20of%20the%20financial%20industry-1200x720-fs.png) ](https://39936595.hs-sites.com/sff-2024-session-recordings-payments/sff-2024-videos-payments/from-tradition-to-innovation-transition-of-the-financial-industry) ### [From Tradition to Innovation: Transition of the Financial Industry](https://39936595.hs-sites.com/sff-2024-session-recordings-payments/sff-2024-videos-payments/from-tradition-to-innovation-transition-of-the-financial-industry) {% video_player "embed_player" overrideable=False, type='hsvideo2', hide_playlist=True,... 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