The Monetary Authority of Singapore (MAS) and the Financial Conduct Authority (FCA) have on Wednesday announced a new strategic partnership on artificial intelligence (AI) in Finance between Singapore and the United Kingdom (UK).

MAS said in a statement that the new partnership will support safe and responsible AI innovation.

This will enable AI-in-Finance solution providers in Singapore and AI innovators in the UK to scale and operate best-in-class AI solutions across both markets more effectively.

Financial institutions in both key financial centers will also benefit from expanded opportunities for innovation and cross-border learning.

As a start, MAS and FCA will explore the joint testing of AI solutions, exchange of regulatory insights, discussions on responsible AI, and collaborative events to spotlight best-in-class approaches.

The partnership will also build on key AI industry programs – MAS PathFin.ai and FCA AI Spotlight – to facilitate cross sharing of quality solutions by participating firms and related programs to strengthen AI collaboration between both financial centers.

“AI is redefining the future of finance — moving from experiments to enterprise use, and from individual models to connected, agentic systems,

“As this shift accelerates, MAS’ priority is to ensure that adoption is both safe and scalable,” said Kenneth Gay, Chief FinTech Officer at MAS.

According to him, this new UK-Singapore AI-in-Finance Partnership with the Financial Conduct Authority creates an important bridge for their financial institutions, innovators and regulators to collaborate on trustworthy AI — from learning from each other’s approach to testing environments and workforce readiness.

“Together, we can strengthen the connectivity between our ecosystems and set global benchmarks for responsible AI use in finance,” he added.

Jessica Rusu, Chief Data, Information and Intelligence Officer at the FCA, said their partnership with the MAS will help raise our global influence in a strategically competitive space.

“UK and Singapore firms will be able to grow through collaboration, gauge new cross-border opportunities, and shape the future of responsible AI innovation in finance,” she added.

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