Singapore-based FinTech hub LATTICE80 has inked a memorandum of understanding (MOU) with Nanyang Polytechnic (NYP) to offer a first-of-its-kind FinTech experience program for its year 1 and 2 students.
The qualifying NYP students can sign up to be a part of LATTICE80, they will gain invaluable exposure and insights to the operations of the FinTech Hub.
At least 100 students from NYP’s school of business management will go through on-the-job training at the hub, June onwards. They will hence, gain an access to a burgeoning industry and will understand the nuances of how operations take place at the heart of Singapore’s Fintech ecosystem. They will get the opportunities to work with government bodies, regulators, investors, and the traditional financial sector.
This voluntary internship program can range from the period of one month to six months. The participating students who perform well may land up with a full-time employment at LATTICE80, post the successful completion of their internship program and studies. Loh Chuu Yi, Director of NYP’s Business School, in a statement, said,
This experiential attachment gives our students a head start and insights on the industry to prepare them for jobs of the future. A strong talent pool, well-invested with relevant skills, will be crucial in building Singapore’s Fintech ecosystem.
The partnership will allow both the entities to leverage each other’s network of professional and industry contacts to achieve their mutual objectives.
Launched in November 2016, LATTICE80 is the world’s largest Fintech hub wholly owned and operated by private investment firm Marvelstone Group. It is currently home to over 85 FinTech startups and is spread across an area of 30,000 sq ft hub. It aims to bridge the public and private sectors.
Joe Seunghyun Cho, CEO of LATTICE80 and Chairman of Marvelstone Group, said,
Our innovative joint programme will encourage industry-academia collaboration within the Fintech industry, including through relevant seminar and programmes to raise awareness and understanding of the emerging field of Fintech. Students will be welcomed starting later this year.
Singapore had been ranked alongside London as the world’s leading Fintech hub in a report released by Deloitte in late 2016. Monetary Authority of Singapore (MAS), the financial regulatory authority of Singapore, is taking steps and measures to facilitate the development of FinTech sector. It has been announcing various measures to bolster the sector, and has set aside S$225 million to develop Fintech projects since 2015.