In this episode of Couchonomics with Arjun, we had the pleasure of speaking with Sopnendu Mohanty, Chief FinTech Officer of the Monetary Authority of Singapore (MAS) and Chairman of Elevandi Board. Sopnendu has been responsible for the development of regulatory policies, innovation strategies, and public good projects to enhance the competitiveness of the financial sector in Singapore. He has also played a key role in building Singapore's reputation as a leading FinTech hub.

During the episode, Sopnendu discussed how Singapore grew from an inward FinTech investment of around 20 million in 2015 to an annual investment of 4.2 billion US Dollars in 2022. He emphasized the importance of creating public programs and building partnership models with the private sector to promote innovation and growth.

Sopnendu also highlighted the non-negotiables in MAS's engagement with FinTechs, such as consumer protection, AML & KYC rules, and cybersecurity. He stressed the need for banks to adopt a "Consumer First" approach to stay relevant and the role of public infrastructure in creating a safe environment for FinTechs and banks to collaborate and experiment.

 Additional topics discussed in the episode include:

- Sopnendu's key achievements at MAS

- His views on the future of Crypto, CBDC's, digital assets, and tokenization

- Co-operation with regulators

In conclusion, this episode of Couchonomics with Arjun offers valuable insights into how Singapore has become a world-class FinTech hub and the role of regulatory policies, innovation strategies, and public good projects in driving growth and competitiveness in the financial sector. Sopnendu Mohanty's expertise and experience make this episode a must-watch for anyone interested in FinTech and innovation.

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