According to SPRING, the special award aims to raise awareness of how standards can support innovations for commercialisation and user adoption. "The Standards Award at CXA provides a good foundation for students and working professionals to understand how standards support FinTech through enhancing interoperability, cyber and data security, and user safety. This can help participants implement quality practices and knowledge as a strategic business tool in their current and future workplaces," said SPRING Assistant Chief Executive (Quality & Excellence) Choy Sauw Kook.
Besides hosting its own competitions, CXA also supports other hackthons such as the Singapore FinTech Festival 2016 in November 2016, which will be organised by the Monetary Authority of Singapore. Open Category participants who create proof-of-concept solutions related to MAS' challenge statements may thus be considered for direct entry to the Global FinTech Hackcelerator finals to be held during the Singapore FinTech Festival.
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