Two industry bodies signed a memorandum of understanding to further strengthen opportunities in the fintech sector.
Singapore Fintech Association (SFA) and Fintech Australia (FA) have signed a memorandum of understanding (MoU). The agreement was signed at the ongoing Money 20/20 Asia, a conference discussing payments, financial services and fintech held in Singapore.
Chia Hock Lai, (pictured above), President, SFA said, «Australia and Singapore have long enjoyed a strong and vibrant relationship, it is now timely to extend that cooperative relationship to the fintech industry.»
Leading Fintech Hub
«In particular Singapore has been a leading fintech hub and acts as a good gateway to the attractive ASEAN market for Australian fintechs. Conversely, our members who are keen to explore the Australian market can count on the assistance from Fintech Australia», he added.
The MoU between both parties aims to contribute to the development of the fintech industry in general across ASEAN and Australia. They will collaborate from time to time on particular initiatives relating to the fintech industry.
Exchange of Opinions
The two industry bodies said they would seek input and opinions from each other regarding matters relating to the sector and invite each other to participate in relevant events and support each other in interfacing regulators and other bodies.
