Internship-stacking just got a boost: MAS and IBF launch the Young Talent Programme for AI in Finance (YTP-AIF)

Belle Neo05-19 04:54

DPM Gan Kim Yong announced the launch of YTP-AIF at the 2026 Financial Industry Fiesta on May 19.The Monetary Authority of Singapore (MAS) and the Institute of Banking and Finance (IBF) have launched ...

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got a boost: MAS and IBF launch the Young Talent Programme for AI in Finance (YTP-AIF)\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-05-19 04:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.theedgesingapore.com/news/future-economy/internship-stacking-just-got-boost-mas-and-ibf-launch-young-talent-programme-ai?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS><strong>Belle Neo</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>DPM Gan Kim Yong announced the launch of YTP-AIF at the 2026 Financial Industry Fiesta on May 19.The Monetary Authority of Singapore (MAS) and the Institute of Banking and Finance (IBF) have launched ...</p>\n\n<a href=\"https://www.theedgesingapore.com/news/future-economy/internship-stacking-just-got-boost-mas-and-ibf-launch-young-talent-programme-ai?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS\">Source 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announcement was made by Deputy Prime Minister Gan Kim Yong at the Financial Industry Fiesta 2026, held at Singapore Management University (SMU), as he stressed the need for more collaboration between education and employment amidst the changing jobscape. \nIn his speech, DPM Gan noted that Singapore's financial sector “contributes about 14% of our GDP, and employs around 200,000 professionals, more than 80% of whom are locals”.\nHe pointed at geopolitical tensions and AI as the main contributors to the current volatile global economy, but stressed that Singapore is primed to turn these factors into advantages, calling it “well-positioned” to become a trusted location for companies to “manage risk, access talent, deploy technology, and serve regional and global markets”.\n\"Workers who are comfortable using AI, and who also have strong domain knowledge, will have a clear advantage,\" he added.\nAccording to IBF, YTP-AIF is open to undergraduates in their second to fourth years from all disciplines across Singapore's autonomous universities. The three-month programme, run during the school semester, comprises a foundational AI masterclass, followed by an applied learning phase working on industry problem statements spanning eight to ten weeks, and then concluded with a project presentation to participating financial institutions. If selected, participants then progress into internship, traineeship, or full-time roles. \nThe masterclass and applied learning components will be conducted by SMU and Nanyang Technological University (NTU), and will be credit-bearing for their students. For the pilot, these components will not bear credits for participating undergraduates from other Singaporean universities.\nParticipating financial institutions include DBS, OCBC, UOB, HSBC, JPMorganChase, Schroders, and more, said IBF. \nThey added that AWS and Bloomberg are also involved as technology partners: AWS will provide cloud infrastructure and an “innovation sandbox”, while Bloomberg will co-develop the masterclass curriculum and offer participants complimentary access to the Bloomberg Terminal and its BQuant analytics platform, as well as an internship opportunity.\nThe YTP-AIF is part of a broader push to develop local finance talent. \n“Since 2023, close to 60 financial institutions have committed to employ and train over 700 fresh university graduates through the finance associate management scheme,” said Carolyn Neo, CEO at IBF, on IBF’s push to develop and connect young talent. \nIn her opening statement, Neo detailed how IBF has also convened 10 financial institutions and five polytechnics to offer over 300 internship and traineeship opportunities for polytechnic students over two years, while 54 ITE students received the IBF Golden Jubilee ITE Scholarship during the organisation's 50th anniversary. \nAltogether, MAS and IBF have worked with around 20 financial institutions to make available more than 1,000 internship and traineeship positions over the next year, added DPM Gan.\nDPM Gan also cited the UBS Singapore University Programme for Employability and Readiness (SUPER), which plans to take in over 30 university and polytechnic graduate trainees across global wealth management, investment banking, risk control and human resources this year, as well as UOB's two-year AI and Data Analytics Programme, co-developed with NUS and supported by IMDA and MAS.\n“We will support more such programmes,” he said, “so that financial institutions can build stronger pipelines of AI-enabled talent.”\nThe AI transition is not only about future graduates, DPM Gan stressed, commenting that many existing workers in the financial sector will also need to refresh to adapt to AI. \n\"If Government, industry, educators and workers each play our part, we can keep our financial sector competitive and resilient — and ensure that it continues to provide good jobs and meaningful careers for Singaporeans,\" he said.\nAddressing the students, he said: \"There are tremendous possibilities ahead and multiple pathways to help you succeed.”\nApplications are open on IBF's website, with selected participants to be notified by mid-July.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.2","shortVersion":"4.42.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2636823273","isCrawlerRequest":true}