STACS — Grand Donor for “FinTech for Good” NTUC U-Care Fund 2020

STACS had the great pleasure to be the Grand Donor of the initiative “FinTech for Good”, organized by the Singapore FinTech Association (SFA). In the spirit of giving back to the community, STACS pledged to donate SGD20,000 to the National Trades Union Congress (NTUC) U-Care Fund 2020 which aims to improve the welfare of low-income NTUC union members and their families.

Our Managing Director, Benjamin Soh, received a token of appreciation from Guest-of-Honour and Minister for Trade and Industry, Mr Chan Chun Sing, at the Fintech for Good 2020 event, held at Fintech Hub SG on 8 December.

Ray Ferguson, new Chairman of STACS and current Chairman of Singlife, said in his speech during the event night: “The U-Care Fund makes a difference to society, supporting the underprivileged, children and youth, and the elderly. Especially during the time of this year’s pandemic, it plays an even more important role, to those in need. At STACS, corporate responsibility and responsible innovation is at the heart of our business. This is why we fully support the mission of the U-Care Fund, and resonate with the purpose of the SFA, in this meaningful initiative.”

On the event night, Minister Mr Chan Chun Sing also launched the ‘Singapore FinTech Landscape 2020 and Beyond’ report. It showcases Singapore’s evolution as a centre for FinTech innovation over the past five years and emerging trends in the sector. He said: “The FinTech sector is important because the new technologies, products and innovations will benefit not just the industry, but transform the economy and unleash the potential of other businesses. In spite of the pandemic, the FinTech Industry has remained one of the bright spots for Singapore in 2020. To spur growth and effective Fintech innovation, mutual trust between the industry and regulators is important. I encourage our Fintech companies to work closely together, to establish this trust, or the community of practice, so that we can forge ahead faster, together.”

Read the full report here:

As a fast-growing technology company, STACS has been fortunate enough to have been relatively unaffected by the effects of the pandemic this year. In fact, just this year alone, we have more than doubled our hiring. We do our best to support the local workforce, with our efforts of hiring technology talents from the ecosystem. At the same time, we recognise that mid-career workers have a wealth of experience and a role to play, and we also look to support their transition from other industries into our team. We have continued to build up our core engineering expertise, by actively participating in the various Skills Training programs like the IBF Singapore’s Technology in Finance Immersion Programme, Singapore Polytechnic’s Professional Conversion Programme for Blockchain, and SGUnited Skills Blockchain Talent Programme.

With the effects of the pandemic, it is clear the wider industry needs digitalisation to emerge stronger together. STACS has drummed up our efforts to provide ready technology in the drive for digitalisation in the financial industry. This year, we have deployed an award-winning platform that has enabled our institutional clients to cut manual reconciliation efforts by 80%. We have also recently made major progress in providing live blockchain technology for Green and Sustainable Financing, to support companies in conducting businesses in a responsible manner. These are currently on live showcase this week at the Singapore Fintech Festival. Beyond the financial industry, we have also produced blockchain-based digitalisation for documents, which optimises the management of trade and legal processes to directly address the issues faced by enterprises as a result of COVID-19.

We see the continued need from the wider industry to embrace digitalisation, and our team will continue to serve with purpose in the coming year. Our purpose is to make a difference, through our technology and in other little ways, and it is our civic duty to give back to society and give a helping hand to those not as fortunate as us.

We would like to thank SFA and the NTUC-U Care Fund, for this opportunity to do our part. We look forward, to an even more meaningful year ahead in 2021.


STACS is a Singapore fintech development company providing ready platforms that make global markets simpler for financial institutions. STACS is leading the way forward by digitalizing assets, processes and documents using next generation blockchain-based technology. Our clients and partners include global investment banks, national stock exchanges, custodian banks, asset managers and private banks. STACS is a winner of the Monetary Authority of Singapore (MAS) Global FinTech Innovation Challenge Awards 2020, a technology partner of Project Ubin led by MAS, and also a two-times awardee of the Financial Sector Technology and Innovation (FSTI) Proof of Concept (POC) grant, under the Financial Sector Development Fund administered by MAS.

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