Singapore

Students from Singapore’s local polytechnics seeking a job in a fintech-related industry will now get a leg up from the Singapore Fintech Association (SFA).

Today, the SFA signed a Memorandum of Understanding (MOU) with these five polytechnics. The MOU builds upon last year’s PolyFinTech 100 initiative, which was designed to help students build fintech skills through mentoring and internships.

Likewise, the SFA will help final-year polytechnic students find internships in fintech-related roles.

These will include internships in startups, financial institutions and regulatory agencies within the fintech ecosystem, both within and outside the border – to give them a holistic perspective of regional and global fintech markets. The SFA will also assign mentors, VCs and incubators to help train students.

The SFA will also launch at least 10 fintech innovation labs. Through exhibits, facilitated tours and programmes, students will be exposed to a range of fintech technology created by established fintech companies such as mobile security startup V-Key and KPMG Digital Village; as well as those rolled out by major financial institutions including HSBC, Open Vault, The FinLab, Visa and Mastercard.

Also Read: Infographic: Why China is the world’s best fintech market

Additionally, the SFA is expected to conduct 100 educational workshops to give students a hands-on experience with the latest fintech innovations. For example, V-Key will host a workshop on how advanced mobile security enables digital banking innovation.

“Following the PolyFinTech 100 launch during the last quarter of 2016, we have gathered good momentum and achieved our target of securing 100 internships within two months. We are excited that this timely partnership with SFA will help open up more opportunities for polytechnic students to keep abreast of the FinTech sector’s evolving needs, fuel their passion for the sector and upgrade their skillsets to meet industry demands,” said Clarence Ti, Principal of Ngee Ann Polytechnic, the SkillsFuture Sector Coordinator for Accountancy and Financial Service, in an official press release.

According to a survey conducted by the Infocomm Development Authority of Singapore in 2015, 5,100 job vacancies are expected to open up in the network and infrastructure sector from 2016 through 2018, with a further 5,700 jobs in data analytics and cyber security. This collaboration will help ensure the new job seekers are well equipped for these roles.