This initiative was introduced after the polytechnics, Ngee Ann Polytechnic, Nanyang Polytechnic, Republic Polytechnic, Singapore Polytechnic and Temasek Polytechnic, signed a Memorandum of Understanding (MOU) with Singapore Fintech Association in February this year.

Ooi Huey Tyng, Visa Country Manager for Singapore and Brunei said: “We are very excited to collaborate with the local polytechnics and Singapore Fintech Association to launch this corporate partnership programme, designed to build a STEM talent pipeline. We have reached out to various schools in the Polytechnics such as School of InfoComm Technology, which are predominantly male-centric to increase female representation in this industry. Through this initiative, students will attend learning sessions conducted by Visa representatives and be involved in business case challenges. We hope to inspire our young talent to join this exciting community.”

Mr Clarence Ti, Principal of Ngee Ann Polytechnic, is heartened to see the upsurge in innovation labs and workshop opportunities for polytechnic students. “We are excited that Visa’s subject matter experts are conducting workshops for polytechnic students. This is a great initiative for them to stay ahead of the FinTech game, in order to meet the industry’s demands,” he added. Ngee Ann Polytechnic is the SkillsFuture Sector Coordinator for Accountancy and Financial Services.

“We are encouraged by Visa’s support of our strategic efforts to nurture home-grown talents in FinTech." commented Hock Lai Chia, President, Singapore Fintech Association. "The Innovation Lab visits help students to experience technology in real-life use cases, improving the delivery of financial products and services. The mentorship provided by the payment practitioners from Visa will be invaluable to the students in their pursuit of FinTech skillsets.”

The increased prominence of FinTech in Singapore and the country’s pursuit to become an entrepreneurial and smart financial hub, has created a demand for locals with relevant knowledge and skills who can use innovative and disruptive technologies to transform business operations.

The joint initiative aims to build a steady pipeline of talent in the Fintech space to cope with this demand and provide a gateway for students to make their first foray into the industry. The partnership is also in line with Singapore’s SkillsFuture and STEM movement, aimed at equipping Singaporeans with the necessary skillsets for the digital economy.

As part of this partnership, students will have the opportunity to engage with payments experts from Visa, and visit the Visa Innovation Lab, where they can learn about the future of payments and challenges in the payments landscape. A number of Visa employees will be assigned as mentors to these students to allow interactive learning.

Modules related to FinTech and the payments industry will be conducted at Visa’s learning centre - Visa University. Finally, students will participate in a business case challenge to round up their learnings.