SINGAPORE: The five polytechnics in Singapore and a fintech industry body have signed a Memorandum of Understanding (MOU) to provide greater support for students looking to enter the industry.
The MOU between the polytechnics - Nanyang Polytechnic, Ngee Ann Polytechnic, Republic Polytechnic, Singapore Polytechnic and Temasek Polytechnic - and the Singapore FinTech Association aims to prepare students to meet the demand for manpower in areas such as data analytics and cybersecurity.
According to the Infocomm Manpower Survey in 2015, Singapore employers estimated there could be as many as 5,100 vacancies for roles within network and infrastructure from 2016 to 2018, with another 5,700 jobs in data analytics and cybersecurity.
The collaboration will see more internships created for final-year polytechnic students across the industry, including at start-ups, financial institutions and regulatory bodies. The association also plans to launch 100 workshops for students conducted by industry experts on new technological, regulatory and other advancements in the banking and financial sector.
The collaboration also supports the PolyFinTech 100 initiative, which was launched last October to develop a strong talent pool trained in financial technology to help Singapore become a smart financial centre.