These 9 fintech associations just created a landmark Asia-Pacific Network
The network is open to any fintech association in the Asia Pacific region.
A landmark Asia-Pacific FinTech Network has been launched by nine fintech associations across the Asia Pacific with the intent to facilitate greater collaboration and encourage innovation across borders. The network was officially launched by the nine associations, which included FinTech Australia, by signing a Statement of Intent at the Asian Financial Forum event in Hong Kong.
The network is open to any other fintech association in the Asia Pacific region which are "warmly invited" to join.
The nine founding associations are:
- FinTech Australia
- FinTech Association of Hong Kong
- Fintech Association of Japan
- Fintech Association of Malaysia
- MENA Fintech Association
- Fintech Philippines Association
- Singapore FinTech Association
- Fintech Industry Development Association of Taiwan
- Thai Fintech Association
"The launch of the Asia-Pacific Fintech Network is a positive step in advancing cross border collaboration and building a strong APAC FinTech network," said general manager of FinTech Australia Rebecca Schot-Guppy. "FinTech Australia looks forward to working with the Asia-Pacific FinTech Network to foster the region's innovation and growth."
The network will focus on sectors that stand to benefit from a collaborative approach such as regtech, financial inclusion and blockchain.
All network participants will work together by co-organising events in their respective markets to exchange relevant information, develop and foster collaboration between companies in Asia with startups, corporates and regulators, and host events such as seminars and workshops.
Chia Hock Lai, President of Singapore FinTech Association said, "With the shift in global economic weight towards Asia, a collaborative and cooperative approach will be imperative to allow regional economies to seize the growth opportunities. Through the Asia-Pacific FinTech Network, we will be able to readily facilitate this strong cross border partnership among members and promote FinTech in the region."
In 2017 and 2018, the Australian Securities and Investments Commission made a number of fintech cooperation agreements with regulators in Asian countries and regions to allow for the exchange of information and cooperation in fintech. This includes Japan, Malaysia and Hong Kong.