Global Finance & Technology Network

Last updated
Global Finance & Technology Network
Founded2024
Type Nonprofit organization
Focus Fintech
Location
Area served
Global
Key people
 Ravi Menon, Chairman
Neil Parekh (NMP), Deputy Chairman
Leong Sing Chiong (Deputy MD, MAS), Deputy Chairman
Sopnendu Mohanty, Group CEO [1]
Pat Patel, CEO [2]
Queen Máxima, Chair, International Advisory Board [3]
Sanjiv Bajaj, Advisor [3]
Agustín Carstens, Advisor [3]
Paula Ingabire, Advisor [4]
Dominic Barton, Advisor [4]
Patrick Njoroge, Advisor [4]
Veerathai Santiprabhob, Advisor [4]
Axel A. Weber, Advisor [5]
Eric Jing, Advisor [5]
Website GFTN
GFTN Odisha

Global Finance & Technology Network (GFTN) (formerly Elevandi) is created by Monetary Authority of Singapore (MAS) to serve expanding Singapore's fintech ecosystem globally. [6] [7] [1] [8] [9] [10] [11] [12]

Contents

GFTN will focus on four business lines – organising fintech festivals, providing advisory and research services, providing digital platform services to SMEs, and establishing a fund for investing on technology related start-ups. [1]

Ravi Menon, former managing director of the MAS is appointed as the chairman of GFTN. [6]

Queen Máxima of the Netherlands, the United Nations Secretary-General’s Special Advocate for Inclusive Finance for Development (UNSGSA), was appointed in July 2025 as Chair of the International Advisory Board of GFTN. [3]

History

GFTN replaces and builds upon Elevandi, the non-profit organisation created by the Monetary Authority of Singapore in August 2021 to foster an active and open dialogue between the public and private sectors, to advance FinTech further in the global digital economy. [13] [14] [6]

GFTN will continue to operate as a not-for-profit, and will work with the MAS on industry and policy dialogues in the area of payments, asset tokenization, AI and quantum. [6]

International Advisory Board

The board is chaired by Queen Máxima of the Netherlands (appointed July 2025). Other members include Sanjiv Bajaj, Chairman and Managing Director of Bajaj Finserv; Agustín Carstens, former General Manager of the Bank for International Settlements (BIS); Paula Ingabire, Rwanda's Minister of ICT and Innovation; Dominic Barton, Chairman of LeapFrog Investments and Rio Tinto and former Global Managing Partner of McKinsey & Company; Patrick Njoroge, former Governor of the Central Bank of Kenya; Veerathai Santiprabhob, former Governor of the Bank of Thailand; Axel A. Weber, former Chairman of UBS Group AG and former President of Deutsche Bundesbank; and Eric Jing, Chairman of Ant Group. [3] [4] [5]

Global activities

GFTN develops international hubs and cross-border corridors to support fintech policy alignment, innovation and ecosystem development. Key initiatives include:

India: The “Integrated Global Financial Technology Capability Hub” (I-GFTCH) in Bhubaneswar, Odisha, launched in July 2025 in partnership with the Government of Odisha and the Asian Institute of Digital Finance (AIDF). The hub focuses on digital public infrastructure, talent development and innovation-led growth. [2] [15]

Middle East, North Africa and Central Asia: A centre of excellence in Qatar, developed with the Qatar Development Bank, acts as a regional hub for policy development, financial inclusion and SME support. It forms part of GFTN’s wider corridor strategy linking Singapore with the Gulf Cooperation Council (GCC), North Africa and Central Asia. [2]

Europe and East Asia: Satellite offices in Japan and Germany support regulatory engagement, innovation communities and multi-country policy alignment. [2]

Outreach and training: GFTN and AIDF collaborate on skills-based technology training programmes across multiple regions. Its predecessor Elevandi supported educational initiatives, including an artificial intelligence lecture for a Sri Lankan school in 2024. [2] [16]

References

  1. 1 2 3 "MAS sets up new not-for-profit firm as it seeks to extend reach to global fintech sector". The Straits Times . 2024-10-30. Retrieved 2024-11-02.
  2. 1 2 3 4 5 "GFTN builds global corridors for fintech collaboration". The Asian Banker . 19 November 2025. Retrieved 2025-12-09.
  3. 1 2 3 4 5 "Queen Máxima of the Netherlands Appointed Chair of Global Finance & Technology Network's International Advisory Board". Business Wire . July 3, 2025. Retrieved 2025-07-03.
  4. 1 2 3 4 5 "Rwanda's ICT minister appointed to international advisory board of global fintech body". The New Times (Rwanda) . November 8, 2024. Retrieved 2025-07-03.
  5. 1 2 3 "About the Global Finance & Technology Network". Global Finance & Technology Network . Retrieved 2025-07-03.
  6. 1 2 3 4 "MAS appoints ex-managing director Ravi Menon as chairman of new group Global Finance & Technology Network(update)". The Edge (Singapore) . 2024-10-30. Retrieved 2024-10-31.
  7. ↑ "MAS sets up finance and technology network to be chaired by Ravi Menon". The Business Times (Singapore) . 2024-10-30. Retrieved 2024-11-02.
  8. ↑ "Singapore's MAS sets up new fintech network led by former chief". The Edge (Malaysia) . 2024-10-30. Retrieved 2024-11-02.
  9. ↑ "Singapore's central bank sets up not-for-profit global fintech network". CNA (TV network) . 2024-10-30. Retrieved 2024-11-02.
  10. ↑ "Singapore sets up global fintech network, appoints former MAS chief Ravi Menon as chairman". CNA (TV network) . 2024-10-30. Retrieved 2024-11-02.
  11. ↑ "Former Singapore MAS Chief Sets Up New Fintech Network". Business Today (Malaysia) . 2024-10-30. Retrieved 2024-11-02.
  12. ↑ "Singapore MAS Sets Up New Fintech Network Led by Former Chief". Bloomberg News . 2024-10-30. Retrieved 2024-11-02.
  13. ↑ "Gujarat-origin Nimil Parekh nominated to Singapore's Parliament as MP". DeshGujarat. 18 July 2023. Retrieved 2 August 2023.
  14. ↑ "The next global lift for SFF". The Business Times (Singapore) . 2 November 2021. Retrieved 2 August 2023.
  15. ↑ "Odisha to house India's first integrated FinTech capability hub in Bhubaneswar". The New Indian Express . 31 July 2025. Retrieved 2025-08-01.
  16. ↑ "Students of Karampon Little Flower Convent, Jaffna get introduction to AI". Daily FT . 2024-07-23. Retrieved 2024-07-30.

§

This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.