The Monetary Authority of Singapore announced the Global Finance & Technology Network on 30 October 2024. The initiative sought to connect financial technology communities internationally and strengthen Singapore’s role as a centre for innovation in financial services.
Ravi Menon was appointed chairman. The announcement named Sopnendu Mohanty as incoming group chief executive from 1 February 2025, when he would leave his chief fintech officer position at MAS. Those appointments describe the organisation’s launch arrangements.
The network’s proposed activities extended beyond conferences. Four businesses covered forums, policy and industry advice, digital platforms serving companies including smaller enterprises, and a fund targeting technology ventures. Its investment ambitions included financial technology and climate technology businesses with social or environmental benefits.
GFTN would build on Elevandi, the organisation previously established to develop the Singapore FinTech Festival internationally. For entrepreneurs, the launch signalled an intended connection between capital, business networks and regulatory expertise. This archive account describes the original plan rather than verifying later investment results.