The FinTech Association of Hong Kong (FTAHK) announced that it has signed three separate Memoranda of Understanding with the Singapore FinTech Association, the Swiss Finance + Technology Association and the Taiwan FinTech Industry Development Association. These were completed during the HongKong FinTech week that is currently underway. All three associations have the goal of collaborating in the promotion of the global FinTech industry.
FTAHK will work with its partners on initiatives to support FinTech development, including potentially making joint responses to their markets’ respective regulators and other relevant local bodies. The associations will also participate in each others’ events, helping to deepen understanding of the opportunities presented through FinTech and further improve the FinTech ecosystem across Asia and Europe.
Hong Kong, Singapore and Taiwan have emerged as dynamic FinTech hubs in Asia, seen by the governments of each as an important growth area. Similarly, Switzerland, with its long banking tradition and emergence as a hub for innovation in Europe, has become a strategic location for the development of a vibrant FinTech industry. By fostering greater collaboration, the partnerships FTAHK has announced today will help support a more connected and co-ordinated approach to FinTech development across the world.
Musheer Ahmed, interim general manager of FTAHK, said:
Collaboration is crucial to the development of FinTech, not just in Hong Kong but globally. It is also one of the founding principles of FTAHK. Our partnerships with the Singapore FinTech Association, the FinTech Industry Development Association in Taiwan and the Swiss Finance + Technology Association are excellent examples of how we want to work with all relevant parties to the benefit of the wider community.
Chia Hock Lai, president of the Singapore FinTech Association, commented:
Our partnership with the FinTech Association of Hong Kong will help us set Asia even more firmly within the global FinTech community. We’re looking forward to working together on many more projects where we have shared interests.
Joanna Jui-Feng Yang, chairman of the Board of the FinTech Industry Development Association in Taiwan, added:
We are pleased to be joining forces with the FinTech Association of Hong Kong to promote the value of FinTech at home and abroad. We believe our partnership will benefit the FinTech community and the wider region.