Moolahgo – A Finalist of 2022 Global FinTech Awards by MAS
Moolahgo is honored to have been selected as one of the Finalists of the Global FinTech Awards from amongst a pool of 223 participants at this year’s Singapore Fintech Festival (“SFF”).
This nomination recognizes our hardwork and ingenuity to come up with innovative technologies to improve today’s payments systems, especially on cross-border payments which between some countries and currencies are still highly cumbersome even in today’s highly digitalized world. Moolahgo’s mission is very simple – to make cross-border payments as seamless and as fuss-free as local transfers by eliminating all the complex details that come with traditional transfers to international bank accounts.
As outlined by Deputy Prime Minister and Minister for Finance Lawrence Wong in his opening speech at SFF 2022, it was heartening to hear that our mission fits perfectly into one of the 5 Es (Enhance; Empower; Envision; Encourage and Engage) of principles that would guide the evolution of financial technologies in Singapore. And under the principle of “Enhance”, cross-border payment and interconnectivity between countries was specifically mentioned as one of the top priorities for Singapore.
MAS has been spearheading the public sector’s initiatives to link Singapore’s real-time payment system, PayNow, to regional partners which to date have successfully connected PayNow to Thailand’s PromptPay and expanded regional trade and brought the peoples of both countries closer than ever. Currently, MAS is working to achieve the same with Malaysia’s DuitNow and India’s UPI.
Moolahgo believes that the private sector could play a bigger role in contributing to cross-border payment enhancements which is why it had come up with a number of firsts in the market such payment to Indonesia and Philippines e-wallets with just a phone number, funds transfers to Indonesia Bank Accounts with just a mobile number or email and payment to bank accounts globally with Visa debit card numbers.
Being recognized as a Finalist of the MAS FinTech Awards will no doubt spur Moolahgo to continue to aim big and innovate for the greater good of Singapore and the region.
The Singapore Fintech Festival 2022 Global FinTech Awards were sponsored by the Monetary Authority of Singapore and the Singapore Fintech Association.
About Singapore Fintech Festival
The SFF, which started in 2016, brings together the global FinTech community to engage, connect, and collaborate on issues relating to the development of financial services, public policy, and technology. As the world’s largest FinTech festival, it brings together over 60,000 participants from 150+ countries.
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PMO | DPM Lawrence Wong at the Singapore FinTech Festival 2022