The memorandum of understanding signed with the Suzhou Fintech Association aims to further strengthen ties between the fintech ecosystems of between Singapore and China.
The Singapore FinTech Association (SFA) and Suzhou FinTech Association (SZFA) have signed a memorandum of understanding to support the development of the fintech industry in Singapore and China, the association said in a statement on Thursday.
The ceremony, which took place at the Sino-Singapore (SuZhou) Fintech Expo in Suzhou, China, was witnessed by the Monetary Authority of Singapore (MAS), OCBC, UOB, DBS and SFA’s international partners like FinTech Association of Japan, Taiwan FinTech Base and United Nations Capital Development Fund (UNCDF).
«As the FinTech landscape grows regionally, more of such partnerships will enable and spur innovation and contribute to the collective FinTech landscape. We believe SFA plays a vital role by bridging the opportunities in the ASEAN region in the FinTech industry,» Chia Hock Lai, SFA President, said.
Industry Support
According to the MOU, the industry bodies will collaborate on specific initiatives like large-scale industry summits, forums, and seminars. The two parties will also support each other in industry matters and in interacting with regulatory bodies.
SFA is a non-profit cross-industry association supporting the development of the fintech industry in Singapore. It currently has 330 members, which includes industry stakeholders, early-stage innovative companies, large financial players and service providers.
