Singapore inks first nationwide collaboration between financial industry and universities

The partnership aims to align ICT university skills with industry requirements.

Representatives across sectors sealed a joint memorandum of intent for the TechSkills Accelerator (TeSA) FinTech Collective in an effort to develop industry-ready professionals that can respond to the growing demands of the information and communications technology sector last November 16.

This is the first nationwide collaboration between the financial industry and universities.

The TeSA FinTech Collective aims to produce Singaporean graduates who can enter the labor force with the right skills for ICT jobs.

The collective provides professional education training (PET) taken from industry-ready and approved courses. 

Initiatives include research collaborations in fintech with universities, new course specializations and mentorships with finance professionals.

“This unprecedented, large scale collaboration among the government, financial industry, and universities will help to build a deep FinTech talent pool in Singapore,” said Monetary Authority of Singapore deputy managing director Jacqueline Loh.

The TeSA FinTech Collective included the participation of six local universities, five financial associations, the Infocomm Media Development Authority (IMDA), Monetary Authority of Singapore (MAS), and SkillsFuture Singapore (SSG).