Announced at the Singapore Fintech Festival, the collaboration is designed to support safe and responsible AI innovation, enabling firms in both nations to scale and operate more effectively across the two markets. The partnership will involve joint testing of AI solutions, the exchange of regulatory insights, and collaborative events.

In a concurrent move, the FCA will establish its first permanent presence in Singapore by appointing a financial services attaché based at the British High Commission. This is the first step in a wider plan to establish posts in other priority markets next year.

Jessica Rusu, the FCA’s chief data officer, said the partnership would help firms “gauge new cross-border opportunities” and “shape the future of responsible AI innovation”.

She added that the new attaché appointment will “strengthen our regulatory relationship with MAS and promote the UK as a global hub for financial services”, reinforcing the FCA’s commitment to supporting economic growth and attracting inward investment.