The not-for-profit Global Finance & Technology Network (GFTN), established by Singapore's central bank MAS, will work on fintech projects with Indian partners and look for investment opportunities.

The GFTN Group's designated CEO, Sopnendu Mohanty, emphasized the significance of India as a location for a variety of investment opportunities and a globally recognized center for talent and technologists.

He noted that GFTN's mission is to use technology and promote innovation through international collaborations to create financial ecosystems that are more effective, robust, and inclusive.

On February 1, 2025, Mohanty, who is now the Chief FinTech Officer at the MAS, will step down from his position with the Monetary Authority of Singapore to become the CEO of GFTN.

Former MAS managing director Ravi Menon has been named GFTN's chairman of the board of directors. Menon is also Senior Adviser (National Climate Change Secretariat) at the Prime Minister's Office and Singapore's Ambassador for Climate Action.

Neil Parekh, Singapore's nominated member of parliament and non-executive chairman of Tikehau Capital, and Leong Sing Chiong, MAS's deputy managing director, have been named deputy chairmen of the group that has outlined a robust support role for the global fintech community.

As a component of the recently established Singapore-based business, GFTN Capital will have an investment fund for software entrepreneurs with the ability to expand steadily and have a beneficial social impact.

GFTN Advisory will be a knowledge center that provides practitioner-led advisory services and research on innovation policies and ecosystems, while GFTN Platforms will serve as a digital platform service provider for businesses, particularly small and medium enterprises.